Pari Passu Creditors definition

Pari Passu Creditors means creditors of the Issuer whose claims rank, or are expressed to rank pari passu with, the claims of the Noteholders including holders of Pari Passu Securities;

Pari Passu Creditors means the Pari Passu Debt Creditors and the Pari Passu Hedge Counterparties.

Pari Passu Creditors means the lenders or other creditors in respect of any Pari Passu Debt and the Pari Passu Debt Representative(s).

Examples of Pari Passu Creditors in a sentence

• For the purposes of this Condition 3(b), the Issuer shall be solvent if (i) it is able to pay its debts owed to Senior Creditors and Pari Passu Creditors as they fall due and (ii) its Assets exceed its Liabilities (other than its Liabilities to persons who are Junior Creditors).

• Tier III Pari Passu Creditors (as defined below) will be satisfied together and pro rata with the holders of the Tier III Subordinated Notes, without any preference or priority.

• For the purposes of this Condition 2(b), the Issuer will be solvent if (i) it is able to pay its debts owed to Senior Creditors and Pari Passu Creditors as they fall due and (ii) its Assets exceed its Liabilities (other than Liabilities to persons who are Junior Creditors).

• For the purposes of this Condition 3.3, the Issuer will be “solvent” if (i) it is able to pay its debts owed to Senior Creditors of the Issuer and Pari Passu Creditors of the Issuer as they fall due and (ii) its Assets exceed its Liabilities (other than Liabilities to persons who are Junior Creditors of the Issuer).

• Pari Passu Creditors means the creditors in respect of any Parity Obligations.

More Definitions of Pari Passu Creditors

Pari Passu Creditors means creditors of the Issuer whose claims rank, or are expressed to rank, pari passu

Pari Passu Creditors means creditors in respect of securities or other obligations of the Issuer which, by their terms, rank or are expressed to rank pari passu with the Notes in a winding-up, liquidation or other return of capital prior to the occurrence of a Trigger Event (including, without limitation, shares of any class which may be issued or deemed to be in issue for the time being in the capital of the Issuer which, by their terms, rank or are expressed to rank pari passu with the Notional Preference Shares in a winding- up, liquidation or other return of capital).

Pari Passu Creditors means (a) the Senior Secured Notes Creditors, (b) the other lenders, noteholders or other creditors in respect of any Pari Passu Debt and (c) the Pari Passu Debt Representative(s).

Pari Passu Creditors means the Pari passu Lenders and the Hedge Counterparties (to the extent of their Pari passu Hedging Liabilities).

Pari Passu Creditors means the creditors in respect of any Parity Obligations. Prior Approval of the Relevant Supervisory Authority means in respect of any proposed act on the part of the Issuer, the prior written approval or consent of, or notification to the Relevant Supervisory Authority, if such approval, notification or consent is required at the time under any Applicable Regulations or an official application or interpretation thereof. Reinsurance Undertaking has the meaning given to such term in article 13 of the Solvency II Directive. Solvency II Directive means Directive No 2009/138/EC of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) including, where applicable, the implementing measures thereunder, as the same may be amended from time to time.

Pari Passu Creditors means the Bondholders and the Bond Trustee.

Pari Passu Creditors means any Hedge Counterparty (other than any Super Senior Hedge Counterparty), the Bondholders, Bond Trustee, the bondholders under any Permitted Additional Secured Bond Issues and the bond trustee in respect thereof.