Subordinated Creditors definition

Subordinated Creditors means all creditors the indebtedness of which is subordinated, in the event of the Winding-Up of DSB, in right of payment to the claims of depositors and other unsubordinated creditors of DSB other than those whose claims rank or is expressed to rank by operation of law or contract pari passu with, or junior to, the claims of the Noteholders. For this purpose indebtedness shall include all liabilities, whether actual or contingent;

Subordinated Creditors is defined in the preamble.

Subordinated Creditors each shall have the meaning set forth in the introductory paragraph hereof.

Examples of Subordinated Creditors in a sentence

• For the purposes of these Conditions the Guarantor shall be solvent if (i) it is able to pay its debts as they fall due and (ii) its Assets exceed its Liabilities (in each case as defined below) (other than its Liabilities to persons who are not Senior and Subordinated Creditors).

• This Subordination Agreement shall be effective as to a Subordinated Creditor when such Subordinated Creditor signs this Subordination Agreement and execution by all Subordinated Creditors is not a condition to such effectiveness.

• The Lender and the Subordinated Creditors desire to enter into this Agreement to effectuate the subordination of the Subordinated Debt to the Senior Debt (as defined below).

• The Subordinated Creditors may not take, accept or receive the benefit of any Security, guarantee, indemnity or other assurance against loss from any member of the Group in respect of any of the Subordinated Liabilities prior to the Final Discharge Date.

• The Lender may rely upon a certificate of the liquidator for the purpose of determining whether or not any claims of Senior Creditors or Senior Subordinated Creditors remain outstanding and if so their amount or aggregate amount.

More Definitions of Subordinated Creditors

Subordinated Creditors means every Person now or in the future who agrees to subordinate indebtedness of the Borrower held by that Person to the payment of the Indebtedness.

Subordinated Creditors means, at any time, the holders and owners of Subordinated Obligations.

Subordinated Creditors means any Person now or in the future subordinating indebtedness of Company held by that Person to the payment of the Indebtedness.

Subordinated Creditors the holders of the Junior Subordinated Notes.

Subordinated Creditors shall have the meaning given to that term in the introductory paragraph hereof.

Subordinated Creditors means, collectively, and in each case solely in their respective capacities as holders of Subordinated Debt, (a) the Parent Company, (b) each of the other Parent Affiliated Companies identified in Schedule C attached hereto (as amended or supplemented from time to time), and (c) each of the other Parent Affiliated Companies that, at any time after the date hereof, shall execute and deliver to the Administrative Agent a Subordinated Creditor Supplement and thereby become a party hereto and bound hereby as a "Subordinated Creditor" hereunder.

Subordinated Creditors means and includes the Subordinated Lenders, the Subordinated Creditor Representative, and each and all of the holders at any time and from time to time of the Subordinated Debt, in each case together with their successors and assigns, and including any lender or other financial institution extending credit to refinance, in whole or in part (but, if in part, with the prior written consent of the Subordinated Creditor Representative), the Subordinated Debt then outstanding.