Examples of Pari Debt Secured Parties in a sentence
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns, as well as the other Pari Debt Secured Parties, all of which are intended to be bound by, and to be third party beneficiaries of, this Agreement.
The provisions of this Agreement are and are intended solely for the purpose of defining the relative rights of the Pari Debt Secured Parties in relation to one another.
As between the Pari Debt Secured Parties, the Applicable Collateral Agent acting in accordance with Section 2.02 shall have the right to adjust or settle any insurance policy or claim covering or constituting Shared Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral.
It is acknowledged that the Pari Debt Obligations of any Series may, subject to the limitations set forth in the then extant Secured Credit Documents, be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded, Refinanced or otherwise amended or modified from time to time, all without affecting the priorities set forth in Section 2.01(a) or the provisions of this Agreement defining the relative rights of the Pari Debt Secured Parties of any Series.
Each Collateral Agent acknowledges and agrees that upon execution and delivery of a Joinder Agreement substantially in the form of Annex II by an Additional Senior Class Debt Representative and each Grantor in accordance with this Section 5.13, Additional Pari Debt Agent shall act in its capacity as Additional Pari Debt Agent on behalf of the Additional Pari Debt Secured Parties.
Except as expressly provided herein or in the Additional Pari Security Documents, [ ] is acting in the capacity of Additional Pari Debt Agent solely for the Additional Pari Debt Secured Parties.
Debt Agent and the New Representative, on its behalf and on behalf of such Additional Senior Class Debt Parties, hereby agrees to all the terms and provisions of the First Lien Intercreditor Agreement applicable to it as Additional Pari Debt Agent and to the Additional Senior Class Debt Parties that it represents as Additional Pari Debt Secured Parties.
As between the Pari Debt Secured Parties, the Applicable Collateral Agent (and in the case of the Additional Pari Debt Agent, acting at the direction of the Applicable Authorized Representative) shall have the right to adjust or settle any insurance policy or claim covering or constituting Shared Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Shared Collateral.
ANNEX II-1 the Additional Senior Class Debt Parties that it represents as Additional Pari Debt Secured Parties.
If, despite the provisions of this Section 2.01(a), any Pari Debt Secured Party shall receive any payment or other recovery in excess of its portion of payments on account of the Pari Debt Obligations to which it is then entitled in accordance with this Section 2.01(a), such Pari Debt Secured Party shall hold such payment or recovery in trust for the benefit of all Pari Debt Secured Parties for distribution in accordance with this Section 2.01(a).