Examples of U.S. Secured Parties in a sentence
The Secured Parties comprise the US Secured Parties, the Canadian Secured Parties and the Hedging Secured Parties – the US Secured Parties and the Canadian Secured Parties have a first priority lien on the Collateral (as defined in the Revolver Facility, the “ Revolver First Lien Collateral”) and a junior lien on the Additional Collateral and the Hedging Secured Parties have a second priority lien on the Revolver First Lien Collateral and a further junior lien on the Additional Collateral.
No U.S. Secured Party has any fiduciary relationship or duty to any U.S. Loan Party arising out of or in connection with, and there is no agency, tenancy or joint venture relationship between the U.S. Secured Parties and the U.S. Loan Parties by virtue of, any U.S. Loan Document or any transaction contemplated therein.
Exercise on behalf of the US Secured Parties and the Canadian Secured Parties, as applicable, all of its other rights and remedies under this Agreement, the other Loan Documents and Applicable Law, in order to satisfy all of the Secured Obligations.
A Lender may cure its status as a Non-Funding Lender under clause (a) of the definition of “Non-Funding Lender” if such Lender fully pays to the Administrative Agent, on behalf of the applicable U.S. Secured Parties, the Aggregate Excess Funding Amount, plus all interest due thereon, and timely funds the next U.S. Revolving Loan required to be funded by such Lender or makes the next reimbursement required to be made by such Lender.
The Administrative Agent shall have received all filings and recordations that are necessary to perfect the security interests of the Administrative Agent, on behalf of the US Secured Parties and the Canadian Secured Parties in the Collateral and the Administrative Agent shall have received evidence reasonably satisfactory to the Administrative Agent that upon such filings and recordations such security interests constitute valid and perfected first priority Liens thereon (subject to Permitted Liens).