Example ContractsClausesapplication of payments of and recoveries on pari passu debtVariants
Application of Payments of and Recoveries on Pari Passu Debt
Application of Payments of and Recoveries on Pari Passu Debt contract clause examples

Permitted Pari Passu Secured Refinancing Debt” means any Credit Agreement Refinancing Indebtedness that is Pari Passu Lien Debt.

Permitted Pari Passu Refinancing Debt” means any Credit Agreement Refinancing Indebtedness in the form of one or more series of senior secured notes; provided that # such Indebtedness is secured by the Collateral on a pari passu basis with the Obligations, # the security agreements relating to such Indebtedness are substantially the same as the Collateral Documents (with such differences as are reasonably satisfactory to the Administrative Agent) and # a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to one or more customary intercreditor agreements in form and substance reasonably acceptable to the Administrative Agent and the Company.

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