U.S. Loan Parties definition
Examples of U.S. Loan Parties in a sentence
Each of the U.S. Loan Parties covenants and agrees that its right to receive any contribution under this U.S. Guaranty from a Non-Paying U.S. Loan Party shall be subordinate and junior in right of payment to the payment in full in cash of the U.S. Guaranteed Obligations.
If acceleration of the time for payment of any of the U.S. Guaranteed Obligations is stayed upon the insolvency, bankruptcy or reorganization of any Loan Party, all such amounts otherwise subject to acceleration under the terms of any agreement relating to the U.S. Guaranteed Obligations shall nonetheless be payable by the U.S. Loan Parties forthwith on demand by the Administrative Agent.
This provision is for the benefit of both the Administrative Agent, the Issuing Banks, the Lenders and the U.S. Loan Parties and may be enforced by any one, or more, or all of them in accordance with the terms hereof.