Material Creditor definition

Material Creditor means any creditor to which the Company or the Acquisition Subsidiary, as applicable, is indebted in an amount equal to the higher of NIS100,000 or an amount equal to 15% or more of the equity of the Company or the Acquisition Subsidiary, as applicable, or as such term is otherwise defined in the regulations promulgated under the Israeli Companies Law.
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Material Creditor shall be any creditor to which Seller or Property Seller owes in excess of $50,000.
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Examples of Material Creditor in a sentence

  • To the Knowledge of Seller, Seller is current in its payments to any Material Creditor and is not delinquent with respect to any such payments.

  • Lender’s obligation to forbear hereunder is conditioned upon the creditor or creditors of Borrower refraining from taking any Material Creditor Action during the term of this Forbearance.

  • Similar to provisions in the KORUS FTA, the KOREU FTA would commit both sides to uphold International Labor Organization (ILO) core labor standards as well as make continued and sustained efforts to ratify all ILO conventions that go beyond the core labor standards.43 Under the KOREU FTA, both sides also agree to uphold and effectively implement all multilateral environment agreements to which they are a party.

  • In the event that any such creditor or creditors takes a Material Creditor Action all of Lender’s obligations hereunder shall terminate without notice.

Related to Material Creditor

  • Material Credit Facility means, as to the Company and its Subsidiaries,

  • financial creditor means any person to whom a financial debt is owed and includes a person to whom such debt has been legally assigned or transferred to;

  • operational creditor means a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred;

  • Additional Credit Party means each Person that becomes a Guarantor by execution of a Joinder Agreement in accordance with Section 5.10.

  • Junior Creditor means any Defaulting Bank which has not (x) fully cured each and every default on its part under the Loan Documents and (y) unconditionally tendered to the Administrative Agent such Defaulting Bank’s Pro Rata Share of all costs, expenses and disbursements required to be paid or reimbursed pursuant to the terms of the Loan Documents.

  • Senior Creditor means a holder or holders of Senior Indebtedness and includes any representative or representatives, agent or agents or trustee or trustees of any such holder or holders;

  • Subordinated Creditor means any creditor of Tenant which is a party to a Subordination Agreement in favor of Landlord.

  • Transaction Party means the Company and each Guarantor, collectively, “Transaction Parties”.

  • Note Party means the Company and the Guarantors.

  • Debtor means a person who is liable on a claim.

  • Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

  • Senior Lender means each holder of a Senior Note.

  • Borrower Party means the Mortgage Loan Borrower, a manager of the Mortgaged Property, an Accelerated Mezzanine Loan Lender or any Borrower Party Affiliate.

  • Material Company means, at any time:

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • Creditor has the meaning set forth in Section 3.3.

  • Material Debt means Debt (other than the Notes) of the Company and/or one or more of its Subsidiaries, arising in one or more related or unrelated transactions, in an aggregate principal amount exceeding $100,000,000.

  • Seriously disturbed person means a person who:

  • Obligated Party has the meaning assigned to such term in Section 10.02.

  • High managerial agent means an officer of a nursing facility, the administrator and assistant administrator of the nursing facility, the director and assistant director of nursing services, or any other agent in a position of comparable authority with respect to the formulation of policies of the nursing facility or the supervision in a managerial capacity of subordinate employees.

  • Material Contract means any contract or other arrangement (other than Loan Documents), whether written or oral, to which any Credit Party is a party as to which the breach, nonperformance, cancellation or failure to renew by any party thereto could reasonably be expected to have a Material Adverse Effect.

  • Junior Lien Representative means any duly Authorized Representative of any holders of Junior Lien Obligations, which representative is party to the applicable security documents.

  • Obligated Person means any person, including the Issuer, who is either generally or through an enterprise, fund, or account of such person committed by contract or other arrangement to support payment of all, or part of the obligations on the Bonds (other than providers of municipal bond insurance, letters of credit, or other liquidity facilities), as shown on Exhibit A.

  • Dual credit means the system under which an eligible high school student enrolls in college course(s) and receives credit for the course(s) from both the college and high school.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Original Credit Agreement shall have the meaning assigned to such term in the recitals hereto.