Parallel Debt B definition
Parallel Debt B means the Parallel Debt set out in Section 9.14(b) of this Agreement and any other Parallel Debt under any of the Loan Documents mirroring obligations of the Dutch Borrower under Term B Loans and/or other indemnities and costs.
Parallel Debt B means any amount which a Foreign Loan Party owes to the Administrative Agent under this Section 11.19, (ii) “Corresponding Debt B” means any amount which a Foreign Loan Party owes to a Lender under or in connection with any Loan Document, and (iii) the Administrative Agent (x) is the independent and separate creditor of each Parallel Debt B, (y) acts in its own name and not as Administrative Agent, representative or trustee of the Lenders and its claims in respect of each Parallel Debt B shall not be held on trust, and (z) shall have the independent and separate right to demand payment of each Parallel Debt B in its own name (including, without limitation, through any suit, execution, enforcement of security, recovery of guarantees and applications for and voting in any kind of insolvency proceeding).
Examples of Parallel Debt B in a sentence
The Parallel Debt B of each Foreign Loan Party (i) shall become due and payable at the same time as its Corresponding Debt B, and (ii) is independent and separate from, and without prejudice to, its Corresponding Debt B (Parallel Debt B).