Preferential Creditors definition

Preferential Creditors means, as to U.K. Borrower, holders of "preferential debts" as interpreted in Section 386 of the Insolvency Act 1986 of England and Wales and listed in Schedule 6 of that Act.

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Preferential Creditors means those creditors of the Company holding Preferential Claims;

Preferential Creditors means creditors whose debts would be treated as having preferential ranking in terms of Section 386 of the Schedule 6 to the Insolvency Act 1986 (or any subsequent legislation amending the categories of preferential debts in an insolvency), if, on the date of computation, preferential ranking had crystallised.

Examples of Preferential Creditors in a sentence

For the purposes of the application by the Deed Administrator of the Property of the Deed Company coming under their control under this Deed, any Preferential Creditors will be entitled to a priority at least equal to what they would have been entitled if the property were applied in accordance with Section 227 (Preferential Debts) of the Regulations.
Promptly upon becoming aware of any Preferential Creditor's claim, UK Borrowers shall seek to satisfy all obligations in connection with such claim and shall provide Agent with evidence reasonably satisfactory to Agent that such claim has been discharged.
For the purposes of the application by the Deed Administrator of the Property of the Deed Company coming under their control under this Deed, any Preferential Creditors will be entitled to a priority at least equal to what they would have been entitled if the property were applie d in accordance with Section 227 (Preferential Debts) of the Regulations.
Promptly upon obtaining knowledge thereof, UK Borrowers shall notify Agent of the details of any claim being made by a Preferential Creditor including, without limitation, the identity, amounts owing, the basis for the claim and any other pertinent information relating to such Preferential Creditor's claim.
The Borrower undertakes to deliver to the Lender at such frequency and at such times as the Lender may in its discretion reasonably determine, complete and accurate details of all sums due or prospectively due to Preferential Creditors, in such form as the Lender shall agree with the Borrower from time to time.

More Definitions of Preferential Creditors

Preferential Creditors as to UK Guarantors, holders of “preferential debts” as interpreted in Section 386 of the Insolvency ▇▇▇ ▇▇▇▇ of England and Wales and listed in Schedule 6 of that Act.

Preferential Creditors means the creditors of the Company as at Completion whose

Preferential Creditors means any creditors of the Customer entitled to payment in priority to other creditors on a winding up or bankruptcy of the Customer pursuant to the terms of the Insolvency ▇▇▇ ▇▇▇▇ and regulations made thereunder;

Preferential Creditors means, as to a UK Borrower, (a) holders of "preferential debts" as such term is defined in Schedule 6 to the Insolvency Act of 1986 and/or

Preferential Creditors means any sums which may become due to any person which, in the reasonable opinion of FGI, may be entitled to receive payment out of floating charge realisations in priority to FGI;

Preferential Creditors means those creditors of ASUSA with Preferential Liabilities.

Preferential Creditors means any sums which may become due to any person which in the reasonable opinion of the Lender, may be entitled to receive payment out of floating charge realisations in priority to the Lender.