Examples of Parallel Debt in a sentence

For the purpose of this Section 12.14, the Collateral Agent acts in its own name and on behalf of itself and not as agent, representative or trustee of any other Secured Party and its claims in respect of a Parallel Debt shall not be held on trust.
The amount owed by a Credit Party under its Parallel Debt shall be reduced to the extent that its Principal Obligations are discharged and shall be increased to the extent that the Principal Obligations are increased.

More Definitions of Parallel Debt

Parallel Debt provisions and other similar structural options will be used where necessary and such provisions will be contained in the intercreditor agreement and not the individual security documents unless required under local law. No action will be required to be taken in relation to the guarantees or security when any lender assigns or transfers any of its participation in this Indenture to a new lender.

Parallel Debt means in relation to an Underlying Debt an obligation to pay to the Administrative Agent an amount equal to (and in the same currency as) the amount of the Underlying Debt.

Parallel Debt has the meaning set forth in Article VIII.

Parallel Debt provisions will be used where necessary; such provisions will be contained in the Intercreditor Agreements or the relevant transaction document and not the individual Security Documents unless required under local laws.

Parallel Debt means in relation to an Underlying Debt an obligation to pay to a Notes Collateral Agent and/or Trustee (as applicable) an amount equal to (and in the same currency as) the amount of the Underlying Debt.

Parallel Debt has the meaning ascribed to it in Clause 2.1 of the Parallel Debt Agreement.

Parallel Debt means any amount which a Loan Party owes to the Collateral Agent under this Section 10.22.