Subordinated Creditors definition

Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

Subordinated Creditors means any Person now or in the future subordinating indebtedness of Company held by that Person to the payment of the Indebtedness.

Subordinated Creditors is defined in the preamble.

Examples of Subordinated Creditors in a sentence

• This Agreement shall inure to the benefit of the successors and assigns of Agent and Lenders and shall be binding upon the successors and assigns of Subordinated Creditors and Obligors.

• Borrower will furnish to Agent upon demand, a statement of the indebtedness owing from Obligors to Subordinated Creditors, and will give Agent access to the books of Obligors in accordance with the Purchase Agreement so that Agent can make a full examination of the status of such indebtedness.

• Subordinated Creditors and Borrower each shall provide Agent with a Subordinated Default Notice upon the occurrence of each Subordinated Default, and Subordinated Creditors shall notify Agent in the event such Subordinated Default is cured or waived.

• This Amendment, the Acknowledgement and Agreement of Guarantor, and the Acknowledgment and Agreement of Subordinated Creditors may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original and all of which counterparts, taken together, shall constitute one and the same instrument.

• The Subordinated Creditors may not take, accept or receive the benefit of any Security, guarantee, indemnity or other assurance against loss from any member of the Group in respect of any of the Subordinated Liabilities prior to the Final Discharge Date.

More Definitions of Subordinated Creditors

Subordinated Creditors each shall have the meaning set forth in the introductory paragraph hereof.

Subordinated Creditors means, at any time, the holders and owners of Subordinated Obligations.

Subordinated Creditors the holders of the Junior Subordinated Notes.

Subordinated Creditors means, collectively, and in each case solely in their respective capacities as holders of Subordinated Debt, (a) the Parent Company, (b) each of the other Parent Affiliated Companies identified in Schedule C attached hereto (as amended or supplemented from time to time), and (c) each of the other Parent Affiliated Companies that, at any time after the date hereof, shall execute and deliver to the Administrative Agent a Subordinated Creditor Supplement and thereby become a party hereto and bound hereby as a “Subordinated Creditor” hereunder.

Subordinated Creditors means each of, and collectively, (a) the Subordinated Lenders (as defined in the Subordination Agreement), (b) subject to the Subordination Agreement, each of such Subordinated Lender’s successors and assigns of the Subordinated Debt, and (c) any Person holding Refinancing Debt of the Subordinated Debt as permitted under this Agreement. Any reference in this Agreement or any other Loan Document to “Subordinated Creditor” shall be deemed to be a reference to each of the Subordinated Creditors.

Subordinated Creditors means any direct or indirect shareholder (or affiliate who is not a member of the Group) of the Parent (and their respective transferees and successors) which has made a loan or financial accommodation to the Parent or any other member of the Group, which is a Party or has acceded to this Agreement in the appropriate capacity pursuant to Clause 25.3 (Accession and change of Subordinated Creditor) and which in each case has not ceased to be a Subordinated Creditor in accordance with this Agreement.

Subordinated Creditors means each Effective Date Subordinated Creditor and each party that enters into a Creditor Accession Undertaking as a Subordinated Creditor (as defined in that Creditor Accession Undertaking) in accordance with Clause 23.2 (Change of Subordinated Creditor).