Preferential Payment definition

Preferential Payment has the meaning set forth in Section 6.01.

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Preferential Payment means any payment all or any part of which is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid by Lender or paid over to a trustee, receiver or any other entity, whether pursuant to any bankruptcy or fraudulent transfer act or other similar act or law.

Preferential Payment means any payments or Proceeds from USR or any other source with respect to the Benefited Obligations (including from the exercise of any set-off) which are:

Examples of Preferential Payment in a sentence

• If any such revived obligation shall not be allowed as a claim under the Bankruptcy Code due to the fact that the Senior Preferential Payment has in fact been made by the Borrower, the Creditors shall make such other equitable arrangements for the purchase and sale of participations in the Senior Secured Obligations and shall execute and deliver such agreements as are necessary to evidence such arrangements, in each case in order to effectuate the intent of this Section 5.13.

• No payment returned to a Secured Party for which such Secured Party has been obligated to make a deposit into the Special Trust Account shall thereafter ever be characterized as a Senior Preferential Payment.

• The obligations of Guarantor under this Guaranty shall continue in full force and effect until the obligations under the Loan Documents shall have been fully paid and performed and the period of time has expired during which any payment made by Borrower or Guarantor to Lender may be determined to be a Preferential Payment.

• No payment returned to a Secured Party for which such Secured Party has been obligated to make a deposit into the Special Trust Account shall thereafter ever be characterized as a Preferential Payment.

• Any such payment is herein referred to as a "Preferential Payment" to the extent any Guarantor or the Operating Partnership makes any payment to Holder in connection with the Note, and any or all of such payment is subsequently invalidated, declared to be fraudulent or preferential, set aside or required to be repaid or paid over to a trustee, receiver or any other entity, whether under any bankruptcy act or otherwise.

More Definitions of Preferential Payment

Preferential Payment shall have the meaning set forth in Section 701.

Preferential Payment has the meaning assigned to such term in Section 26 of this Agreement.

Preferential Payment shall have the meaning set forth in Section 6.4(d) hereof.

Preferential Payment means any payment (including any deposit of cash collateral) obtained by a Secured Party or its Affiliates in respect of Obligations held by it, whether in cash, securities or property, through the exercise of any remedy (including the commencement and prosecution of any litigation and the exercise of any right of setoff or right to demand cash collateral) available to such Secured Party as a result of the occurrence and continuance of any Event of Default; provided, that no payment made to a Secured Party pursuant to Section 5.02 or received by any Secured Party in any Bankruptcy Proceeding pursuant to a plan of reorganization or other action approved in writing by the Majority Secured Parties shall constitute a Preferential Payment.

Preferential Payment shall have the meaning given such term in Section 2.16(4) of this Agreement.

Preferential Payment means any payments from the Company or any other source with respect to the Subject Obligations arising as a result of the exercise of any set-off and which are:

Preferential Payment shall have the meaning specified in subsection 3.10(c). "Preferred Units" means the preferred units in the Acquired Company to be issued to Contico as described in the Purchase Agreement. "Pricing Ratio" means, as measured quarterly on the last day of each fiscal quarter for the four trailing quarters then ending, and determined on a consolidated basis for the Company and its Restricted Subsidiaries, the ratio of (a) Funded Debt minus the undrawn face amount of issued and outstanding standby letters of credit, to (b)