Secured Obligations Discharge Date definition

Secured Obligations Discharge Date means the date on which all of the Secured Obligations have been unconditionally and irrevocably discharged.
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Secured Obligations Discharge Date means the date of receipt by the Agent of repayment in full of all of the Loans, together with all other amounts then due and payable to the Finance Parties under the Transaction Documents and corresponding notice in writing of the same to the Security Trustee.
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Examples of Secured Obligations Discharge Date in a sentence

  • Upon the Secured Obligations Discharge Date, the Collateral shall be released without recourse or warranty from the Security constituted by the Security Documents, and the Security Agent (at the cost of the Borrower) will execute such agreements, give such notices, and do such other things as the Borrower may reasonably request to give effect to such release.

  • Each of the Junior Lenders hereby undertakes in favour of the Senior Finance Parties that unless and until the relevant Senior Loan has been accelerated or the relevant Senior Secured Obligations Discharge Date has occurred, it will not accelerate any Junior Loan or any part thereof (including, without limitation, upon the occurrence of an Event of Default in respect of any Junior Loan).

  • If any Secured Obligations is paid out of any proceeds received in respect of or on account of the Junior Debt in accordance with this Deed, the Junior Creditor will to that extent be subrogated to the Secured Obligations so paid (and all securities and guarantees for those Secured Obligations) but not before the Secured Obligations Discharge Date.