Common use of Preferential Collection of Claims Against Issuers Clause in Contracts

Preferential Collection of Claims Against Issuers. If the Trustee becomes a creditor of an Issuer or any Guarantor, the Trustee’s right to obtain payment of claims in certain cases, or to realize on certain property received in respect of any such claim as security or otherwise, shall be limited as specified in TIA § 311(a) as if the Trustee were subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b).

Appears in 2 contracts

Sources: Indenture (Martin Midstream Partners L.P.), Indenture (Martin Midstream Partners L.P.)