Parallel Debt US definition
Examples of Parallel Debt US in a sentence
The Administrative Agent may resign as Administrative Agent upon 10 days’ notice to the Lenders and the U.S. Borrower; provided that such resignation shall not affect the rights of the Administrative Agent pursuant to the Parallel Debt U.S. Obligations and the Parallel Debt Foreign Obligations and the Administrative Agent shall continue to hold such rights until the effective assignment thereof by the Administrative Agent to its successor agent.
The Administrative Agent will reasonably cooperate in assigning its rights under the Parallel Debt U.S. Obligations and the Parallel Debt Foreign Obligations to any such successor agent and will reasonably cooperate in transferring all rights under the Dutch Security Documents to such successor agent.
The Parallel Debt U.S. Obligations will be payable in the currency or currencies of the relevant U.S. Obligations.
For the avoidance of doubt, to the extent Agent irrevocably (onaantastbaar) receives any amount in payment of the U.S. Obligations, the Parallel Debt U.S. shall be reduced accordingly as if such payment was received as a payment of the Parallel Debt U.S.
The parties hereto acknowledge and agree that, for purposes of the Dutch Security Agreements, any resignation by Agent is not effective until its contractual relationship under the Parallel Debt Foreign and the Parallel Debt U.S., including all of its rights and obligations thereunder, is transferred to a successor Agent.
For the avoidance of doubt, to the extent Agent irrevocably (onaantastbaar) receives any amount in payment of the US Obligations, the Parallel Debt US shall be reduced accordingly as if such payment was received as a payment of the Parallel Debt US.
Agent will reasonably cooperate in assigning its rights and obligations under the Parallel Debt Foreign and the Parallel Debt U.S. to the successor Agent and will reasonably cooperate in transferring all rights under the Dutch Security Agreements to the successor Agent.