Second Creditor definition

Second Creditor means a Second Lender, the PXF Facility Agent or any person that accedes to this Deed as a Second Creditor. "Second Debt" means all Liabilities payable or owing by the Company or the Parent to a Second Creditor secured under the Second Security Agreements. "Second Security" means any Security Interest described in the Second Security Agreements, to the extent it relates to the Export Proceeds. "Second Security Agreements" means the security agreements listed in Schedule 2 (Security Agreements) as the second security agreements. "Security" means the First Security or the Second Security. "Security Interest" means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect. "Subsidiary" means any person (referred to as the "first person") in respect of which another person (referred to as the "second person"):
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Second Creditor means a Second Lender, the PXF Facility Agent or any person that accedes to this Deed as a Second Creditor.
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Second Creditor means a Second Lender, the Second Hedge Counterparty or the Second Facility Agent.
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Examples of Second Creditor in a sentence

  • Failing this, Zenith Bank (in the case of an appointment by a Second Creditor) or the PXF Facility Agent (in the case of an appointment by a First Creditor) may appoint another process agent for this purpose.

  • Until it makes payment, the Second Creditor shall hold the relevant amount on trust for the Bank.

  • The First Creditor hereby consents to the entry by the Merchant and each other person party to the Second Creditor Collateral Documents into the Second Creditor Collateral Documents in favour of the Second Creditor.

  • At any time on or before the Discharge Date, the Second Creditor shall not take any step in connection with Enforcement Action without the Bank’s prior written consent.

  • As between the Second Creditor and the Borrower, this deed does not affect the Borrower’s obligations in respect of the Second Creditor’s Debts and the Second Creditor’s Security (or otherwise), except as expressly provided in this deed.

  • If, at any time on or before the Discharge Date, the Second Creditor receives any Insurance Payment (whether or not it has given directions under Clause ‎5.2.1), it shall immediately pay the relevant amount to the Bank for application in accordance with the Bank’s Financing Documents or otherwise as the Bank directs.

  • The Second Creditor hereby consents to the entry by the Merchant and each other person party to the First Creditor Collateral Documents into the First Creditor Collateral Documents in favour of the First Creditor.

  • If, at any time on or before the Discharge Date, the Second Creditor receives any payment in respect of the proceeds of enforcement of any Relevant Security, it shall immediately pay the relevant amount to the Bank for application in accordance with Clause ‎5.1 (General payments).

  • The Borrower and the Second Creditor shall not, at any time, amend, supplement or otherwise alter the effect of any Second Creditor’s Financing Document, except (a) in order to correct an obvious error or to effect a minor or administrative amendment, (b) with the prior written consent of the Bank or (c) after the Discharge Date.

  • If, at any time, any Bank’s Debt is paid from any proceeds received in respect of any Second Creditor’s Debt or any Second Creditor’s Security, the Second Creditor will, to the extent of the relevant payment, be subrogated to any Bank’s Security relating to such Bank’s Debt but the Second Creditor shall not exercise any such right of subrogation on or before the Discharge Date.