Majority Noteholder Sample Clauses
The 'Majority Noteholder' clause defines the group of noteholders who collectively hold more than a specified percentage—typically over 50%—of the outstanding principal amount of notes issued under an agreement. This group is often empowered to make certain decisions or take actions on behalf of all noteholders, such as consenting to amendments, waivers, or enforcement actions. By centralizing authority in the hands of a majority, the clause streamlines decision-making and prevents minority holders from blocking necessary actions, thereby ensuring efficient administration and resolution of issues related to the notes.
Majority Noteholder. The Holder or Holders of Notes representing at least 51% of the aggregate Note Principal Amount of the Notes.
Majority Noteholder. The Majority Noteholder shall exercise all rights and privileges of the Noteholders under the Buyer's Note and the Escrow Agreement, and with respect to claims by Buyer under the Buyer's Note and Escrow Agreement, and related matters, and in furtherance thereof (but without limitation of the authority granted hereunder): (i) to investigate, employ counsel to defend, resolve and settle any claim made by Buyer against the Buyer's Note and Escrow Agreement, (ii) to give and receive notices pursuant hereto and thereto, and (iii) to make and exercise all decisions, consents, choices, elections, selections (including selection of counsel and other consultants and advisors), settlements, requests, and exercise of discretion that the Noteholders have the right to make or exercise with respect to matters addressed herein or therein which shall be made or exercised only by the Majority Noteholder on behalf of the Noteholders. Buyer and the Company shall have the right to rely solely on the decisions made and actions taken by the Majority Noteholder, and may rely on Schedule 2.3 exclusively in determining whether or not it is dealing with the Majority Noteholder. If the Majority Noteholder shall at any time transfer all or any part of his interest in the Buyer's Note in accordance with the provisions of the Buyer's Note, whether or not by operation of law, the Buyer shall be provided with such documentation that it deems necessary to evidence such transfer, including, without limitation, an opinion of counsel. In no event shall the Buyer or the Company be responsible for the costs, expenses or liabilities of the Majority Noteholder.