Act of Required Pari Passu Lien Secured Parties definition

Act of Required Pari Passu Lien Secured Parties means, as to any matter,
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Act of Required Pari Passu Lien Secured Parties will mean a direction in writing delivered by the Hedge Bank with the largest amount of Secured Hedging Obligations owed to it. For purposes of this definition, (a) Pari Passu Lien Debt registered in the name of, or beneficially owned by, the Issuer or any Affiliate of the Issuer will be deemed not to be outstanding and neither the Issuer nor any Affiliate of the Issuer will be entitled to vote such Pari Passu Lien Debt and (b) votes will be determined in accordance with the Collateral Trust Agreement.
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Act of Required Pari Passu Lien Secured Parties means, as to any matter at any time, (i) a direction in writing delivered to the Collateral Trustee by or with the written consent of, the holders of (or the Pari Passu Lien Representatives acting at the direction of the holders they represent) more than 50% of the aggregate outstanding principal amount of Pari Passu Lien Debt and (ii) directions in writing delivered to the Collateral Trustee by or with the written consent of, the requisite percentage or number of holders of each Series of Pari Passu Lien Debt at the time outstanding (or the Pari Passu Lien Representatives acting at the direction of the holders they represent) as provided for in the applicable Pari Passu Lien Documents, in each case, which, upon request of the Collateral Trustee, shall be accompanied by indemnity or security acceptable to the Collateral Trustee for any losses, liabilities or expenses that may be incurred in connection with such direction.
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Examples of Act of Required Pari Passu Lien Secured Parties in a sentence

  • There shall be at least three meetings of the council in each academic year.

  • Therefore, the proposed change in source testing frequency does not conflict with Regulation 9, Rule 9.All references to the source test requirement of condition #20057, part 25 in Table VII-A will be updated to reflect the new source test frequency of 8,000 hours or 3 years.

  • As to any matter not expressly provided for by this Agreement or the other Pari Passu Lien Security Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Required Pari Passu Lien Secured Parties and will be fully protected if it does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on the Pari Passu Lien Secured Parties.

  • The Collateral Trustee shall not be liable for any action it takes or omits to take in good faith in accordance with any Act of Required Pari Passu Lien Secured Parties.

  • If the requested action requires the consent or direction of each Holder of the Notes affected thereby, then the Trustee shall not deliver a direction to the Collateral Trustee in such Act of Required Pari Passu Lien Secured Parties unless a unanimous consent is obtained for the Holders.

  • Unless it has been directed to the contrary by an Act of Required Pari Passu Lien Secured Parties, the Collateral Trustee in any event may (but will not be obligated to) take or refrain from taking such action with respect to any default under any Pari Passu Lien Document as it may deem advisable and in the interest of the Pari Passu Lien Secured Parties, subject, at all times, to the terms of the Intercreditor Agreement.

  • M/s .................................................................................................................................Seal:-Place & Date:-CHECKLIST Name of Tenderer: Name of Manufacturer:Sl No.Sl No. N.B.

  • The Collateral Trustee will not be required to inquire as to the occurrence or absence of any Pari Passu Lien Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Pari Passu Lien Debt Default unless and until it is directed by an Act of Required Pari Passu Lien Secured Parties.

  • Notwithstanding the foregoing, if the requested action requires the consent or direction of each Holder of the Series 2019 Bonds affected thereby, then the Trustee shall not deliver a direction to the Collateral Agent in such Act of Required Pari Passu Lien Secured Parties unless a unanimous consent is obtained for the Holders of the Series 2019 Bonds.


More Definitions of Act of Required Pari Passu Lien Secured Parties

Act of Required Pari Passu Lien Secured Parties means, as to any matter at any time, (i) a direction in writing delivered to the Collateral Trustee by or with the written consent of, the holders of (or the Pari Passu Lien Representatives acting at the direction of the holders they represent) more than 50% of the aggregate outstanding principal amount of Pari Passu Lien Debt and (ii) directions in writing delivered to the Collateral Trustee by or with the written consent of, the requisite percentage or number of holders of each Series of Pari Passu Lien Debt at the time outstanding (or the Pari Passu Lien Representatives acting at the direction of the holders they represent) as provided for in the applicable Pari Passu Lien Documents, in each case, which, upon request of the Collateral Trustee, shall be accompanied by indemnity or security acceptable to the Collateral Trustee for any losses, liabilities or expenses that may be incurred in connection with such direction. For purposes of this definition, (a) Pari Passu Lien Debt registered in the name of, or beneficially owned by, the Borrower or any Affiliate of the Borrower will be deemed not to be outstanding and neither the Borrower nor any Affiliate of the Borrower will be entitled to vote such Pari Passu Lien Debt and the Borrower shall notify the Collateral Trustee in writing whether any Pari Passu Lien Debt is owned by it or any of its Affiliates, and (b) votes will be determined in accordance with Section 7.2.
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Act of Required Pari Passu Lien Secured Parties has the meaning specified in the Collateral Trust Agreement.
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Related to Act of Required Pari Passu Lien Secured Parties

  • Second Lien Secured Parties means, at any relevant time, the holders of Second Lien Obligations at such time, including without limitation the Second Lien Lenders and the agents under the Second Lien Credit Agreement.

  • First Lien Secured Parties means (i) the Credit Agreement Secured Parties and (ii) the Additional First-Lien Secured Parties with respect to each Series of Additional First-Lien Obligations.

  • Additional First Lien Secured Parties means the holders of any Additional First Lien Obligations and any trustee, authorized representative or agent of such Additional First Lien Obligations.

  • Additional First Lien Secured Party means the holders of any Additional First-Lien Obligations and any Authorized Representative with respect thereto, and shall include the Initial Additional First-Lien Secured Parties.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Second Lien Security Documents means the “Security Documents”, as defined in the Second Lien Credit Agreement, and any other agreement, document or instrument pursuant to which a Lien is granted to secure any Second Lien Obligations or under which rights or remedies with respect to any such Lien are governed.

  • First Lien Security Documents means, collectively, (i) the Credit Agreement Collateral Documents and (ii) the Additional First-Lien Security Documents.

  • Priority Lien Security Documents means the Priority Credit Agreement (insofar as the same grants a Lien on the Collateral), each agreement listed in Part A of Exhibit B hereto, and any other security agreements, pledge agreements, collateral assignments, mortgages, deeds of trust, control agreements, or grants or transfers for security, now existing or entered into after the date hereof, executed and delivered by the Borrower or any other Grantor creating (or purporting to create) a Lien upon Collateral in favor of the Priority Lien Agent (including any such agreements, assignments, mortgages, deeds of trust and other documents or instruments associated with any Priority Substitute Credit Facility).

  • ABL Secured Parties means the ABL Representative, the ABL Creditors and any other holders of the ABL Obligations.

  • Other Pari Passu Lien Obligations means any Indebtedness or other Obligations (including Hedging Obligations) having Pari Passu Lien Priority relative to the Notes with respect to the Collateral; provided that an authorized representative of the holders of such Indebtedness shall have executed a joinder to the ABL-Notes Intercreditor Agreement and a joinder to the Pari Passu Intercreditor Agreement or the Pari Passu Intercreditor Agreement.

  • Second Lien Security Agreement means the “Security Agreement” as defined in the Second Lien Credit Agreement.

  • First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Required Secured Parties has the meaning given to it in the Intercreditor Agreement.

  • First Lien Security Agreement means the “Security Agreement” as defined in the First Lien Credit Agreement.

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

  • Pari Passu Lien Priority means, relative to specified Indebtedness, having equal Lien priority on specified Collateral and either subject to the Intercreditor Agreement on a substantially identical basis as the holders of such specified Indebtedness or subject to intercreditor agreements providing holders of the Indebtedness intended to have Pari Passu Lien Priority with substantially the same rights and obligations that the holders of such specified Indebtedness have pursuant to the Intercreditor Agreement as to the specified Collateral.

  • Pari Passu Lien Obligations means any Financial Indebtedness that has equal or substantially equal Security Interest priority to the Facilities on the Security (taking into account any intercreditor arrangements).

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Term Loan Secured Parties means the “Secured Parties” as defined in the Term Loan Credit Agreement.

  • ABL Security Documents means any agreement, document or instrument pursuant to which a Lien is granted securing any ABL Obligations or under which rights or remedies with respect to such Liens are governed.

  • First Lien/First Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, as such document may be amended, restated, supplemented or otherwise modified from time to time.

  • Counterparty Downgrade Collateral Account means an interest-bearing account of the Issuer with the Custodian into which all Counterparty Downgrade Collateral is to be deposited.

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Foreign Security Documents means any agreement or instrument entered into by any Foreign Subsidiary Borrower that is reasonably requested by the Collateral Agent providing for a Lien over the assets (including shares of other Subsidiaries) of such Foreign Subsidiary Borrower.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.