Parallel Debt Undertaking definition

Parallel Debt Undertaking as defined in Section 10.34(b).
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Parallel Debt Undertaking has the meaning specified therefor in Section 5.19.
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Examples of Parallel Debt Undertaking in a sentence

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the German Secured Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the Obligations.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the Dutch Obligations.

  • The Collateral Agent may therefore enforce performance of the Parallel Debt Undertaking in its own name as an independent and separate right.

  • Upon complete and irrevocable satisfaction of the Secured Obligations, the Collateral Agent shall as soon as reasonably practical at the cost and expense of the Grantors release the Parallel Debt Undertaking.

  • The Parallel Debt Undertaking shall also cover any future extension, prolongation, increase or novation of the German Facility Obligations and the U.K./Dutch Facility Obligations.

  • Each Parallel Debt Undertaking will become due and payable at the same time as the Corresponding Obligations become due and payable.

Related to Parallel Debt Undertaking

  • Parallel Debt has the meaning assigned to such term in Section 9.21.

  • L/C Undertaking has the meaning set forth in Section 2.12(a).

  • Parallel Obligations means the independent obligations of any of the Grantors arising pursuant to the First Lien Intercreditor Agreement to pay to the Collateral Agent sums equal to the sums owed by such Grantor to the other Secured Parties (or any of them) under the Credit Documents.

  • group undertaking means the Company or another undertaking in the group;

  • parent undertaking means a parent undertaking as defined in point (15)(a) of Article 4(1) of Regulation (EU) No 575/2013;

  • Dutch Security Documents means the Dutch Share Pledges, the Dutch Intercompany Pledges and any other Dutch law security document creating security for the benefit of the Collateral Agent.

  • Original Obligations means the “Obligations” as defined in the Original Credit Agreement.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Guarantor Subordinated Obligation means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) which is expressly subordinate in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • DIP Obligations means “DIP Obligations” as defined in the DIP Order.

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

  • Guarantee and Security Agreement means that certain Guarantee, Pledge and Security Agreement, dated as of the Effective Date, among the Borrower, the Subsidiary Guarantors, the Administrative Agent, each holder (or a representative, agent or trustee therefor) from time to time of any Secured Longer-Term Indebtedness, and the Collateral Agent.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • Credit Support Pledge Agreement The Credit Support Pledge Agreement, dated as of November 24, 1998, among the Master Servicer, GMAC Mortgage Corporation, Combined Collateral LLC and The First National Bank of Chicago (now known as Bank One, National Association), as custodian.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Existing Security Agreement shall have the meaning set forth in the recitals.

  • Term Loan Obligations means any Obligations with respect to the Term Loan (including, without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Subordinated Loan Agreement means any loan agreement made or to be made between (i) any Borrower and (ii) a Subordinated Creditor.

  • Demerged Undertaking means the Premium Brands Business of the Demerged Company and includes related assets, liabilities, rights and powers, on a going concern basis, representing an undertaking in compliance with Sec. 2(19AA) of the Income Tax Act, as on the Appointed Date, which shall be transferred and vested with the Resulting Company upon Demerger by the Demerged Company in terms of this Scheme. Without prejudice and limitation to the generality of the above, the Demerged Undertaking means and includes,:

  • Second Lien Security Agreement means the “Security Agreement” as defined in the Second Lien Credit Agreement.

  • Intercompany Loan Agreement has the meaning set forth in the Purchase and Sale Agreement.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.