Receiving Creditor definition

Receiving Creditor shall have the meaning assigned thereto in Section 2.
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Receiving Creditor shall have the meaning assigned thereto in Section 4.
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Receiving Creditor has the meaning assigned in Section 2.
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Examples of Receiving Creditor in a sentence

  • Without limiting the rights and remedies of the other Creditors, to the extent the Wrong Payments have been received and applied by the Receiving Creditor making the turnover of the same impossible, the Receiving Creditor agrees that such Wrong Payments shall be netted against future payments to which it is entitled under the relevant Financing Documents.

  • Accordingly, each Creditor hereby agrees that in the event (a) an event described in clauses (x) or (y) above shall have occurred, (b) any Creditor shall receive a Sharing Payment (a "Receiving Creditor"), and (c) any other Creditor shall not concurrently receive its Pro Rata Share of Sharing Payments from the same Subsidiary Guarantor or THC Systems, Inc.

  • Upon the appointment of the Distribution Agent, each Receiving Creditor shall remit any amounts subject to sharing under this Section 2.1 to the Distribution Agent for distribution in accordance with such procedures.

  • Any amounts remaining in the Reserve Account following the expiration or satisfaction in full of the Loan Obligations in respect of the Letters of Credit for which such sums were held in reserve shall be applied against any Obligations remaining unpaid in accordance with this Section 3.2. Prior to the appointment of the Distribution Agent, as set forth in Section 3.3(a) hereof, each Receiving Creditor shall hold all Shared Payments received by it in trust for the benefit of all Creditors.

  • Any Receiving Creditor that sells a participation interest in Subject Obligations pursuant to the foregoing provisions of this paragraph shall retain all of such Creditor’s rights and obligations under this Agreement and applicable Facility Documents, including, without limitation, the right to enforce the provisions of this Agreement and the underlying Facility Documents and to approve any amendment, modification or waiver thereof.

  • Each Obligor and each Creditor agrees that, to the extent a Receiving Creditor does not retain all or any portion of a Shared Payment, such Receiving Creditor shall be deemed to have only applied the amount retained by such Receiving Creditor in payment of the Obligations owing to such Receiving Creditor.

  • In such event, the original payment by the Receiving Creditor in respect of the Excess Guaranty Payment shall be treated as not having been paid to or received by the other Creditors for purposes of the two preceding paragraphs.

  • Licensees clearly state their highest earned degree in counseling or closely related field.

  • Upon the appointment of the Distribution Agent, each Receiving Creditor shall remit any Shared Payment received by it to the Distribution Agent for distribution in accordance with Section 3.2 hereof.

  • Whenever any Receiving Creditor receives a Subject Payment, it shall notify the other Creditors of such receipt and request that each such Creditor certify in writing the existence and amount of the Subject Obligations owed to such Creditor.


More Definitions of Receiving Creditor

Receiving Creditor shall have the meaning assigned thereto in Section 2. "Second Amendment" shall have the meaning assigned thereto in the Recitals hereof. "Special Trust Account" shall have the meaning assigned thereto in Section 2.2. "Specified Amount" shall mean, as to any Creditor, the aggregate amount of the Subject Obligations owed to such Creditor. "Subject Obligations" shall mean (i) all principal of, premium, if any, and interest on, the Notes and the Loans and all other obligations of any of the Obligors under or in respect of the Notes and the Loans and under the Note Purchase Agreements and the Loan Agreement and any other obligations of any of the Obligors to the Banks or the Noteholders which are guaranteed by the Bank Guaranty or the Noteholder Guaranty and (ii) all principal of, premium, if any, and interest on, the obligations of the Subsidiary Guarantors under or in respect of the agreements and documents referred to in Section 3.4 hereof pursuant to which other Persons have become creditors of the Subsidiary Guarantors and "Creditors" hereunder as contemplated in Section 3.4 hereof; provided that any amount of such Subject Obligations which is not allowed as a claim enforceable against an Obligor in a Bankruptcy Proceeding under applicable law shall be excluded from the computation of "Subject Obligations" hereunder. "Subsidiary" shall have the meaning set forth in the Note Purchase Agreements as in effect on the date hereof. "Subsidiary Agreements" shall have the meaning assigned thereto in the Recitals hereof. "Subsidiary Borrowers" shall have the meaning set forth in the Recitals hereof.
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Receiving Creditor is defined in Section 2.1.
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Receiving Creditor has the meaning given to it in Clause 9.4 (Redistribution Payments).
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Receiving Creditor shall have the meaning assigned thereto in ss.2.
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Receiving Creditor has the meaning set forth in Section 3.2 of this Agreement.
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Related to Receiving Creditor

  • Receiving Bank means the financial institution where a Receiving Party maintains its account.

  • Receiving Party Personnel has the meaning set forth in Section 37(d).

  • Receiving Party means a Party receiving confidential or proprietary information from the Disclosing Party.

  • Receiving facility means any public or private facility designated by the department to receive and hold involuntary patients under emergency conditions or for psychiatric evaluation and to provide short-term treatment. The term does not include a county jail.

  • Discloser means the party disclosing Confidential Information.

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • Term Loan Administrative Agent means Bank of America, in its capacity as administrative agent under the Term Loan Credit Agreement, and its successors and assigns in such capacity.

  • Disclosing Party means the Party disclosing Confidential Information.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • First Lien Administrative Agent means the “Administrative Agent” as defined in the First Lien Credit Agreement.

  • Term Administrative Agent means Bank of America, N.A., in its capacity as agent for the “Secured Parties” under (and as defined in) the Term Credit Agreement, and its successors and assigns in such capacity.

  • ABL Administrative Agent means Bank of America in its capacity as administrative agent and collateral agent under the ABL Facilities Documentation, or any successor administrative agent and collateral agent under the ABL Facilities Documentation.

  • Second Lien Claimholders means, at any relevant time, the holders of Second Lien Obligations at that time, including the Second Lien Lenders and the agents under the Second Lien Loan Documents.

  • Supplier Representative means the representative appointed by the Supplier from time to time in relation to this Framework Agreement;

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Customer Representative means the representative appointed by the Customer from time to time in relation to the Contract;

  • Second Lien Agent means the administrative agent and collateral agent under the Second Lien Term Loan Agreement, its successors, assigns, or any replacement agent appointed pursuant to the terms of the Second Lien Term Loan Agreement.

  • First Lien Claimholders means, at any relevant time, the holders of First Lien Obligations at that time, including the First Lien Lenders and the agents under the First Lien Loan Documents.

  • DIP Lender means a lender under the DIP Facility.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.