Acting Secured Parties definition

Acting Secured Parties means, as of any date of determination, the Secured Parties holding (or, in the case of the Original Trustee and the New Trustee, acting as trustee for the Original Notes or the New Notes, as applicable) more than 20% of the sum of (a) the unpaid principal amount of the Original Notes, (b) the unpaid Accreted Value of the New Notes, (c) the unpaid Accreted Value of the Convertible Notes, (d) the unpaid principal amount owing under the GM Convertible Notes, (e) the unpaid principal amount owing under the GM Loan Agreement, and (f) the unpaid principal amount owing under the Additional Debt (if any), or, if such debt is issued at a discount, the unpaid accreted value of such Additional Debt. Any action taken by the Original Trustee or the New Trustee shall constitute an action on behalf of all of the Original Holders or New Holders, as applicable, without regard to the percentage of the Original Holders or New Holders directing or authorizing the Original Trustee or the New Trustee to take such action.
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Acting Secured Parties means, as of any date of determination, the Secured Parties holding (or, in the case of the New Trustee, acting as trustee for the New Notes) more than 20% of the sum of (a) the unpaid Accreted Value of the New Notes, (b) the unpaid Accreted Value of the Convertible Notes, (c) the unpaid principal amount owing under the GM Convertible Notes, (d) the unpaid principal amount owing under the GM Loan Agreement, and (e) the unpaid principal amount owing under the Additional Debt (if any), or, if such debt is issued at a discount, the unpaid accreted value of such Additional Debt. Any action so taken by the New Trustee shall constitute an action on behalf of all of the New Notes without regard to the percentage of the New Holders directing or authorizing the New Trustee to take such action.
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Acting Secured Parties means, as of any date of determination, the Secured Parties holding more than 25% of the sum of the unpaid Accreted Value of the Notes. Any action so taken by the Trustee shall constitute an action on behalf of all of the Notes without regard to the percentage of the Holders directing or authorizing the Trustee to take such action.
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Examples of Acting Secured Parties in a sentence

  • The Well Log Committee will be responsible for publishing a digital newsletter to keep students informed on activities within the chapter and the industry.

  • With respect to any information or actions that the Collateral Agent is permitted to request under the Collateral Document at the written request of the Acting Secured Parties, the Collateral Agent shall request such information or actions concerning the Collateral as the Acting Secured Parties shall direct in writing and shall provide to the Secured Parties the information concerning the Collateral that is provided to the Collateral Agent by any Grantor in response to such request.

  • The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Collateral Document in accordance with the provisions of (S)6.5 and in accordance with written instructions pursuant to (S)6.4 of the Required Secured Parties or the Acting Secured Parties, as applicable, and such instructions and any action taken or failure to act pursuant thereto shall be binding upon all the relevant Secured Parties.

  • Each Grantor shall, promptly upon request by Collateral Agent (at the written direction of the Acting Secured Parties), furnish to Collateral Agent statements and schedules further identifying and describing the Collateral, all in reasonable detail.

  • With respect to any information or actions that the Collateral Agent is permitted to request under the Collateral Document at the written request of the Acting Secured Parties, the Collateral Agent shall request such information or actions concerning the Collateral as the Acting Secured Parties shall direct in writing and shall provide to the Secured Parties the information concerning the Collateral that is provided to the Collateral Agent by the Company in response to such request.

  • The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Collateral Document in accordance with the provisions of Section 6.5 and in accordance with written instructions pursuant to Section 6.4 of the Required Secured Parties or the Acting Secured Parties, as applicable, and such instructions and any action taken or failure to act pursuant thereto shall be binding upon all the relevant Secured Parties.

  • With respect to any information or actions the Collateral Agent is permitted to request under the Collateral Document at the written request of the Acting Secured Parties, the Collateral Agent shall request such information or actions concerning the Collateral as the Acting Secured Parties shall direct in writing and shall provide to the Secured Parties the information concerning the Collateral that is provided to the Collateral Agent by the Company in response to such request.

  • The Collateral Agent shall be under no obligation to the Secured Parties to ascertain or to inquire as to the observance or performance of any of the agreements contained in, statements made in, or conditions of any Secured Agreement or the Collateral Document, or unless requested to do so by Acting Secured Parties in writing, to inspect the property (including the books and records) of the Grantor.

  • The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the Collateral Document in accordance with the provisions of Section 6.5 and in accordance with written instructions pursuant to Section 6.4 of the Required Secured Parties or Acting Secured Parties, as applicable, and such instructions and any action taken or failure to act pursuant thereto shall be binding upon all the relevant Secured Parties.


More Definitions of Acting Secured Parties

Acting Secured Parties means, as of any date of determination, the Secured Parties holding more than 20% of the sum of (a) the unpaid principal amount owing under the Convertible Notes, and (b) the unpaid principal amount owing under the Additional Debt (if any), or, if such debt is issued at a discount, the unpaid accreted value of such Additional Debt.
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Related to Acting Secured Parties

  • Controlling Secured Parties means, with respect to any Shared Collateral, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral.

  • Non-Controlling Secured Parties means, with respect to any Shared Collateral, the First Lien Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral.

  • Secured Parties means, collectively, the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Banks, the Cash Management Banks, the Supplemental Administrative Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.01(c).

  • Existing Security Documents shall have the meaning assigned to such term in the recitals hereto.

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

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

  • Controlling Securities means (i) the Class A Notes so long as the Class A Notes are outstanding, (ii) after the Class A Notes are no longer outstanding, the Class B Notes so long as the Class B Notes are outstanding and (iii) after the Class B Notes are no longer outstanding, the Class C Notes so long as the Class C Notes are outstanding.

  • Performing Second Lien Bank Loans means Second Lien Bank Loans which are Performing.

  • Majority Noteholders means the Holders of a majority by principal amount of the most senior then outstanding class of Notes.

  • U.S. Secured Parties the “Secured Parties” as defined in the U.S. Guarantee and Collateral Agreement.

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

  • Issuer Secured Parties means the Trustee in respect of the Trustee Issuer Secured Obligations.

  • Existing Secured Notes means the previously issued debt securities of the Issuers outstanding on the date hereof.

  • Controlling Noteholder Representative shall have the meaning assigned to such term in Section 6(a).

  • Notes Secured Parties means the Secured Noteholders, the Notes Collateral Agent and the Notes Trustee.

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

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

  • voting security means a security of the Company that:

  • 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.

  • Controlling Note Holder Representative shall have the meaning assigned to such term in Section 6(a).

  • Existing Security means any Security granted by any Person over its Assets in respect of any Relevant Indebtedness and which is existing at the relevant Issue Date or at the time any such Person becomes a Material Subsidiary or whose business and/or activities, in whole or in part, are assumed by or vested in the Issuer or a Material Subsidiary after the relevant Issue Date (other than any Security created in contemplation thereof) or any substitute Security created over those Assets (or any part thereof) in connection with the refinancing of the Relevant Indebtedness secured on those Assets provided that the principal, nominal or capital amount secured on any such Security may not be increased;

  • Prepetition Secured Parties means the “Secured Parties” under, and as defined in, the Prepetition Credit Agreement, in each case as amended, modified or supplemented through the Petition Date.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

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

  • Controlling Collateral Agent means (i) until the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Credit Agreement Collateral Agent and (ii) from and after the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Additional Collateral Agent (acting on the instructions of the Applicable Authorized Representative).

  • Existing Security Agreement has the meaning set forth in the recitals hereto.