Examples of Preferential Payment in a sentence
If any such revived obligation shall not be allowed as a claim under the Bankruptcy Code due to the fact that the Senior Preferential Payment has in fact been made by the Borrower, the Creditors shall make such other equitable arrangements for the purchase and sale of participations in the Senior Secured Obligations and shall execute and deliver such agreements as are necessary to evidence such arrangements, in each case in order to effectuate the intent of this Section 5.13.
Guarantor shall not seek to enforce any such Subrogation Rights until the Guaranteed Obligations have been paid and performed in full and the time period shall have expired during which any payment made by Guarantor or any other Person on account thereof may be determined to be a Preferential Payment.