Preferential Collection of Claims Against the Issuers Sample Clauses
The "Preferential Collection of Claims Against the Issuers" clause establishes the order or priority in which claims against the issuers are to be collected or satisfied. In practice, this clause may specify that certain creditors or classes of claims are to be paid before others, such as secured creditors taking precedence over unsecured creditors in the event of insolvency or liquidation. By clearly defining the hierarchy of payments, this clause ensures fairness and predictability in the distribution of assets, thereby reducing disputes and providing assurance to stakeholders about their position in the event of issuer default.
Preferential Collection of Claims Against the Issuers. The Trustee is subject to TIA § 311(a), excluding any creditor relationship listed in TIA § 311(b). A Trustee who has resigned or been removed shall be subject to TIA § 311(a) to the extent indicated therein.
Preferential Collection of Claims Against the Issuers. The Trustee, in its capacity as Trustee hereunder, shall comply with Trust Indenture Act § 311(a), excluding any creditor relationship listed in Trust Indenture Act § 311(b). A Trustee who has resigned or been removed shall be subject to Trust Indenture Act § 311(a) to the extent indicated.
Preferential Collection of Claims Against the Issuers. (a) If and when the Trustee shall be or become a creditor of either Issuer (or any other obligor upon the Notes), the Trustee shall be subject to the provisions of the TIA regarding the collection of claims against such Issuer (or any such other obligor).
Preferential Collection of Claims Against the Issuers. The Trustee shall comply with Section 311(a) of the Trust Indenture Act, excluding any creditor relationship described in Section 311(b) of the Trust Indenture Act. A Trustee who has resigned or been removed shall be subject to Section 311(a) of the Trust Indenture Act to the extent included therein.
Preferential Collection of Claims Against the Issuers. The First Lien Trustee shall comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A First Lien Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated.
Preferential Collection of Claims Against the Issuers. The Trustee shall comply with TIA Section 311(a), excluding any creditor relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated therein. The provisions of TIA Section 311 shall apply to the Issuers and each of the Subsidiary Guarantors as obligor on the Securities.
Preferential Collection of Claims Against the Issuers. The Second Lien Trustee shall comply with Section 311(a) of the TIA, excluding any creditor relationship listed in Section 311(b) of the TIA. A Second Lien Trustee who has resigned or been removed shall be subject to Section 311(a) of the TIA to the extent indicated.
Preferential Collection of Claims Against the Issuers. If and when the Trustee shall be or become a creditor of either Issuer, any Subsidiary Guarantor or any other obligor upon the Securities or any Subsidiary Guarantee, the Trustee shall be subject to the provisions of the Trust Indenture Act regarding the collection of claims against such Issuer, such Subsidiary Guarantor or any such other obligor.