Parallel Debt definition

Parallel Debt has the meaning specified in Section 9.19.

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Parallel Debt shall have the meaning provided in Section 12.14(a).

Parallel Debt means any amount which an Obligor owes to the Security Agent under Clause 32.2 (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

• Subject to the rights of the Trustee and the Collateral Agent hereunder, the Company, without the consent of any Holder, may also incorporate into this Indenture additional Parallel Debt provisions as necessary to address After-Acquired Property in any jurisdiction where no assets are pledged by a guarantor organized therein on the Issue Date.

• In the case of any Guarantor that becomes a Guarantor after the Issue Date and is located in a jurisdiction where Parallel Debt provisions are customary or required, the Company, the Guarantors, the Trustee and the Collateral Agent are hereby authorized to provide for Parallel Debt, in customary form (as determined by the Company in its sole discretion) in the supplemental indenture with respect to such Guarantor’s guarantee.

• For the avoidance of doubt, in no event shall the Trustee or Collateral Agent be required to act outside of the United States or to enter into any foreign law governed document, in connection with any Parallel Debt or otherwise, under or pursuant to this Indenture, the Notes, or the Guarantees or the Security Documents.

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 the Administrative Agent an amount equal to (and in the same currency as) the amount of the Underlying Debt.

Parallel Debt has the meaning ascribed to it in Clause 2.1 of the Parallel Debt Agreement.

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 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 has the meaning assigned to such term in Article 8.