Subordinated Collection Action definition

Subordinated Collection Action means (x) any demand of or for or acceleration of any or all of the Junior Liabilities, (y) the filing or initiating, or joining with any Person in filing or initiating, a Proceeding against, Company, or (z) any judicial proceeding or other action of any kind initiated or taken by Investor, or by Investor in concert with any other Person or by any other Person with the support of Investor, against Company or any other Person to collect the Junior Liabilities.
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Subordinated Collection Action means (i) any acceleration of the Subordinated Indebtedness, (ii) to file or initiate, or to join with other Persons in filing or initiating, a Proceeding against either Obligor, (iii) any judicial proceeding or other action initiated or taken by Subordinated Creditor, or by Subordinated Creditor in concert with other Persons, against either Obligor to collect the Subordinated Indebtedness or otherwise to enforce the rights of Subordinated Creditor under the Subordinated Debt Documents or applicable law with respect to the Subordinated Indebtedness or (iv) any action (judicial or non-judicial) to exercise rights and remedies against any assets, properties, or other interests of either Obligor, including, without limitation, actions to foreclose, sell or dispose collateral, or enforce Liens, pursuant to the Uniform Commercial Code.
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Subordinated Collection Action means (i) any acceleration of the Subordinated Indebtedness, (ii) to file or initiate, or to join with other Persons in filing or initiating, a Proceeding against Borrower or (iii) any judicial proceeding or other action initiated or taken by Subordinated Lender, or by Subordinated Lender in concert with other Persons, against Borrower or any other Person to collect the Subordinated Indebtedness, to foreclose the Subordinated Liens or otherwise to enforce the rights of Subordinated Lender under the Subordinated Instruments or applicable law with respect to the Subordinated Indebtedness.
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Examples of Subordinated Collection Action in a sentence

  • Subordinated Creditor hereby unconditionally agrees that: (i) all Liens of the Subordinated Creditor in any property of either Obligor shall be and hereby are subordinated to the Senior Liens, and (ii) other than as set forth in Section 2.7(b), the Subordinated Creditor shall have no right to possession of any property of any Obligor or to take any Subordinated Collection Action, unless and until all the Senior Indebtedness shall have been fully paid and satisfied and the Commitments have been terminated.

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More Definitions of Subordinated Collection Action

Subordinated Collection Action means any judicial proceeding or other action taken or initiated by the Subordinated Lender against the Borrower, Guarantor, Agent or any Collateral to collect the Subordinated Lender Debt, to foreclose the Subordinated Liens or otherwise to enforce the rights or remedies of the Subordinated Lender under the this Agreement or any of the other Loan Documents or applicable law with respect to the Subordinated Lender Debt.
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Subordinated Collection Action means (a) any acceleration of the Note, (b) to file or initiate, or to join with other persons in filing or initiating, an Insolvency Proceeding against the Borrower, the Subordinated Guarantor or any other "Guarantor" under the Credit Agreement, (c) any judicial proceeding or other action initiated or taken by the Holder, or by the Holder in concert with other persons or entities, against the Borrower, the Subordinated Guarantor or any other "Guarantor" under the Credit Agreement to collect under the Note, the Subordinated Guaranty or under any other document governing or evidencing any Subordinated Indebtedness or otherwise to enforce any rights or remedies of the Holder under the Note, the Subordinated Guaranty or other such document or applicable law with respect to the obligations under the Note, the Subordinated Guaranty or such document; or (d) any other exercise by Holder of remedies, either at law or in equity, pertaining to the collection of the Note, the Subordinated Guaranty or other document governing or evidencing any Subordinated Indebtedness; provided, however, that effecting payments under the Note through the exercise of setoff rights by the Holder shall not constitute a Subordinated Collection Action unless such action is conducted unilaterally by the Holder following the occurrence and during the continuation of a Default hereunder or such payments are not then permitted to be paid under this Section 8.
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Subordinated Collection Action means (i) any acceleration of the Subordinated Indebtedness, (ii) to file or initiate, or to join with other Persons in filing or initiating, a Proceeding against Borrower or (iii) any judicial proceeding or other action initiated or taken by Subordinated Lender, or by Subordinated Lender in concert with other Persons, against Borrower or any other Person who is liable for the repayment of the Senior Indebtedness to collect the Subordinated Indebtedness or otherwise to enforce the rights of Subordinated Lender under the Subordinated Instruments or applicable law with respect to the Subordinated Indebtedness against the Borrower or any Person who is liable for the repayment of the Senior Indebtedness. The term “Subordinated Collection Action” shall not include any legal proceeding or other Proceeding initiated by Subordinate Lender to enforce the terms of any guaranty of the Subordinated Indebtedness by Argyle Security Inc., a Delaware corporation.
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Subordinated Collection Action shall not include any legal proceeding or other Proceeding initiated by Subordinate Lender to enforce the terms of any guaranty of the Subordinated Indebtedness by Argyle Security Inc., a Delaware corporation.
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Subordinated Collection Action means (i) any acceleration of the Subordinated Indebtedness, (ii) except to the extent permitted under Section 2.3(d), to file or initiate, or to join with other Persons in filing or initiating, a Proceeding against any Credit Party other than to file proofs of claims in connection with any Proceeding, so long as no conflict is created with respect to the terms of this Agreement and the priority of the Senior Indebtedness herein established, (iii) to foreclose the Subordinated Liens or (iv) any judicial proceeding or other action initiated or taken by Subordinated Creditor, or by Subordinated Creditor in concert with other Persons, against any Credit Party to collect the Subordinated Indebtedness or otherwise to enforce the rights of Subordinated Creditor under the Subordinated Debt Documents or applicable law with respect to the Subordinated Indebtedness, so long as no conflict is created with respect to the terms of this Agreement and the priority of the Senior Indebtedness herein established.
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Related to Subordinated Collection Action

  • Subordinated Claim means a Claim of the kind described in sections 726(a)(3) or 726(a)(4) of the Bankruptcy Code and/or Claims subordinated under sections 510(b) or 510(c) of the Bankruptcy Code.

  • Deemed Collection Defined in Section 2.4(c).

  • Reallocated Collateral Principal Collections means, with respect to any Transfer Date, Collections of Principal Receivables applied in accordance with subsections 4.12(a) and (b) in an amount not to exceed the product of (a) the Collateral Allocation with respect to the Monthly Period relating to such Transfer Date and (b) the Investor Percentage with respect to the Monthly Period relating to such Transfer Date and (c) the amount of Collections of Principal Receivables with respect to the Monthly Period relating to such Transfer Date; provided, however, that such amount shall not exceed the Collateral Interest after giving effect to any Collateral Charge-Offs for such Transfer Date.

  • Subordinated Claims shall have the meaning set forth in Section 3.6(c)(i) hereof.

  • Deemed Collections has the meaning set forth in Section 4.01(d).

  • Debt collection means the collection of unpaid tolls and applicable administrative fees by (i) 652 retention of a third-party debt collector or (ii) collection practices undertaken by employees of a toll 653 facility operator that are materially similar to a third-party debt collector.

  • Subordinate Obligations means, collectively, the Subordinate Notes and any Other Subordinate Obligations.

  • SUBI Collections has the meaning set forth in the Indenture.

  • Shared Principal Collections means, with respect to any Transfer Date, either (a) the amount allocated to the Investor Certificates which may be applied to the Series Principal Shortfall with respect to other outstanding Series in Group One or (b) the amounts allocated to the investor certificates of other Series in Group One which the applicable Supplements for such Series specify are to be treated as "Shared Principal Collections" and which may be applied to cover the Series Principal Shortfall with respect to the Investor Certificates.

  • Senior Liquidation Amount For any Distribution Date, the sum of (A) the aggregate, for each Mortgage Loan which became a Liquidated Mortgage Loan during the Prior Period, of the lesser of: (i) the Senior Percentage of the Principal Balance of such Mortgage Loan and (ii) the Senior Prepayment Percentage of the Liquidation Principal with respect to such Mortgage Loan and (B) the Senior Prepayment Percentage of any Subsequent Recoveries for such Distribution Date.

  • Finance Charge Collections means Collections of Finance Charge Receivables.

  • Subordinate Liquidation Amount For any Distribution Date and each Loan Group, the excess, if any, of the aggregate Liquidation Principal of Mortgage Loans related to that Loan Group which became Liquidated Mortgage Loans during the prior calendar month over the related Senior Liquidation Amount for that Distribution Date.

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Exchange Note Collection Account means the account established under Section 4.1(a) of the Servicing Supplement.

  • Principal Collections means Collections of Principal Receivables.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales or dispositions attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees, prepayment fees or other amounts received in respect of Loan Assets.

  • Class A Noteholders’ Interest Distribution Amount means, for any distribution date, the sum of: • the amount of interest accrued at the class A note interest rates for the related accrual period on the aggregate outstanding principal balances of all classes of class A notes on the immediately preceding distribution date, after giving effect to all principal distributions to class A noteholders on that preceding distribution date; and • the Class A Note Interest Shortfall for that distribution date.

  • Net Liquidation Proceeds After Debt Service means, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Borrower, Senior Mezzanine Borrower or Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (a) Lender’s, Senior Mezzanine Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (b) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents and Senior Mezzanine Loan Documents to Mortgage Lender and/or Senior Mezzanine Lender (as applicable), (c) in the case of a foreclosure sale, disposition or Transfer of any Individual Property in connection with realization thereon following a Mortgage Loan Event of Default, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (d) in the case of a foreclosure sale, disposition or Transfer of any Senior Mezzanine Collateral in connection with realization thereon following a Senior Mezzanine Loan Default under any Senior Mezzanine Loan Documents, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (e) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (f) in the case of a foreclosure sale, such costs and expenses incurred by Senior Mezzanine Lender under the Senior Mezzanine Loan Documents as Senior Mezzanine Lender shall be entitled to receive reimbursement for under the terms of the Senior Mezzanine Loan Documents, (g) in the case of a refinancing of the Mortgage Loan and/ Senior Mezzanine Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Lender, Mortgage Lender and/or Senior Mezzanine Lender, and (h) the amount of any prepayments required pursuant to the Mortgage Loan Documents, Senior Mezzanine Loan Documents and/or the Loan Documents, in connection with any such Liquidation Event.

  • Principal Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Principal Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Class A Noteholders’ Interest Carryover Shortfall means, with respect to any Payment Date, the excess of the Class A Noteholders’ Interest Distributable Amount for the preceding Payment Date, over the amount in respect of interest that was actually paid on the Class A Notes on such preceding Payment Date, plus interest on the amount of interest due but not paid to holders of the Class A Notes on the preceding Payment Date, to the extent permitted by law, at the respective interest rates borne by each Class of the Class A Notes for the related Interest Accrual Period.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Interest Collection Account A sub-account of the Collection Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Allowed Secured Claim means an Allowed Claim secured by a Lien, security interest, or other charge against or interest in property in which the Debtor has an interest or that is subject to setoff under Section 553 of the Bankruptcy Code, to the extent of the value (as specified in the Plan, or if no value is specified, as determined in accordance with Section 506(a) of the Bankruptcy Code) of the interest of a holder of such Allowed Claim in the Debtor's interest in such property or to the extent of the amount subject to such setoff, as the case may be.