Secured Party definition
Examples of Secured Party in a sentence
The rights and powers granted herein to the Secured Party have been granted in order to perfect its security interest in the Accounts, are powers coupled with an interest and will neither be affected by the bankruptcy of the Issuer or the lapse of time.
Notwithstanding anything to the contrary contained herein, neither the Applicable First- Lien Collateral Agent nor any other First-Lien Secured Party shall have any liability to any party hereto for any failure or delay on the part of the Applicable First-Lien Collateral Agent in delivering any Enforcement Notice or terminating any existing Enforcement Action.
In the event that the Securities Intermediary has or subsequently obtains by agreement, operation of law or otherwise a security interest in the Accounts or any Security Entitlement credited thereto, the Securities Intermediary hereby agrees that such security interest shall be subordinate to the security interests of the Secured Party and the Issuer.
The obligations of the Securities Intermediary hereunder shall continue in effect with respect to the Accounts until the Secured Party has notified the Securities Intermediary in writing that its security interests under the Indenture have been terminated.
No Junior-Lien Secured Party shall file, propose, support or vote in favor of any plan of reorganization (and each shall vote and shall be deemed to have voted to reject any plan of reorganization) that is inconsistent with the terms of this Agreement.