Parallel Debt has the meaning assigned to such term in Section 9.21.
Parallel Debt shall have the meaning set forth in Section 12.11(a).
Parallel Debt means any amount which a Borrower owes to the Security Agent under Clause 29.2 (Parallel Debt (Covenant to pay the Security Agent)) or under that clause as incorporated by reference or in full in any other Finance Document.
Examples of Parallel Debt in a sentence
The Security Trustee will enforce the Security pursuant to the terms of the Trust Deed and the Pledge Agreements for the benefit of all Secured Creditors, including, but not limited to, the Noteholders, and will apply the net proceeds received or recovered towards satisfaction of the Parallel Debt.
More Definitions of Parallel Debt
Parallel Debt provisions and other similar structural options will be used where necessary and such provisions will be contained in the intercreditor agreement and not the individual security documents unless required under local law. No action will be required to be taken in relation to the guarantees or security when any lender assigns or transfers any of its participation in this Indenture to a new lender.
Parallel Debt means in relation to an Underlying Debt an obligation to pay to a Notes Collateral Agent and/or Trustee (as applicable) an amount equal to (and in the same currency as) the amount of the Underlying Debt.
Parallel Debt means in relation to an Underlying Debt an obligation to pay to the Administrative Agent an amount equal to (and in the same currency as) the amount of the Underlying Debt.
Parallel Debt has the meaning set forth in Article VIII.
Parallel Debt provisions will be used where necessary; such provisions will be contained in the Intercreditor Agreements or the relevant transaction document and not the individual Security Documents unless required under local laws.
Parallel Debt has the meaning ascribed to it in Clause 2.1 of the Parallel Debt Agreement.
Parallel Debt means any amount which a Credit Party owes to the Collateral Agent under this Section 10.26.