Parallel Debt Undertaking definition

Parallel Debt Undertaking as defined in Section 10.34(b).
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Parallel Debt Undertaking has the meaning specified therefor in Section 5.20(b).
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Examples of Parallel Debt Undertaking in a sentence

  • Each Parallel Debt Undertaking will become due and payable at the same time as the Corresponding Obligations become due and payable.

  • The Collateral Agent may therefore enforce performance of the Parallel Debt Undertaking in its own name as an independent and separate right.

  • Each Notes Collateral Agent may therefore enforce performance of the Parallel Debt Undertaking in its own name as an independent and separate right.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the German Secured Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the German Facility Obligations and the U.K./Dutch Facility Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the Dutch Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the Obligations.

  • Upon complete and irrevocable satisfaction of the German Facility Obligations and the U.K./Dutch Facility Obligations, the Agent shall without undue delay at the cost and expense of the Obligors release the Parallel Debt Undertaking.

  • The Foreign Collateral granted under the Foreign Security Documents to the Agent to secure the Parallel Debt Undertakings is granted to the Agent in its capacity as creditor of each Parallel Debt Undertaking and shall not be held on trust.

  • Upon complete and irrevocable satisfaction of the Secured Obligations, the Collateral Agent shall as soon as reasonably practical at the cost and expense of the Grantors release the Parallel Debt Undertaking.