Controlling Creditor definition

Controlling Creditor has the meaning specified in the Intercreditor Agreement.

Controlling Creditor means, as of any date, (a) the Board, so long as (i) the Board Guaranty is in full force and effect as of such date and has not been terminated without payment having been made thereunder and (ii) the outstanding amount of Tranche A guaranteed under the Board Guaranty as of such date represents a majority of the principal amount of the Loan then outstanding, and (b) at all other times, the Requisite Lenders.

Controlling Creditor means, until the First Lien Creditor shall have confirmed in writing, which confirmation shall not be unreasonably withheld, conditioned or delayed, to the Collateral Agent and Second Lien Creditor that all First Lien Obligations shall have been paid in full, the First Lien Creditor and, thereafter, the Second Lien Creditor; provided, that, if First Lien Obligations shall have been reinstated after such confirmation, the “Controlling Creditor” shall again be the First Lien Creditor from and after such reinstatement until a new confirmation shall have been signed by the First Lien Creditor.

Examples of Controlling Creditor in a sentence

• The Trust Deed provides that the Trustee will be under no obligation or duty to act on any directions of the Noteholders or any Counterparty (save as expressly provided in these Conditions, the Trust Deed and (save as aforesaid), in the event of any conflict between directions given by the Noteholders and by any Counterparty, it shall be entitled to act in accordance only with the directions of the Controlling Creditor.

• Lipson, Governance in the Breach: Controlling Creditor Opportunism, 84 S.

• The Trustee shall be entitled to rely and act on any instruction given to it by the Controlling Creditor and it shall not be liable to any person for the consequences of acting in accordance with such instruction.

• The Trust Deed provides that, save as expressly provided for in the Constituting Instrument or in the Conditions, the Trustee, in carrying out its duties and exercising its discretions under the Trust Deed, will be under no obligation or duty to act on any directions of the Noteholders or the Counterparty and in the event of any conflict between directions given by the Noteholders and by the Counterparty, it shall be entitled to act only in accordance with the directions of the Controlling Creditor.

• The Controlling Creditor has the exclusive right, power and authority to direct, or to refrain from directing, the Senior Creditors and the Security Trustee in the exercise of the Financing Rights subject to Reserved Matters or Entrenched Rights (as defined in the Security Trust and Intercreditor Deed) in each case without regard to the interests of any other person and the Controlling Creditor will not owe fiduciary duties to any person.

More Definitions of Controlling Creditor

Controlling Creditor or this Section 9.1;

Controlling Creditor means, (a) as of any date of determination prior to the Senior Discharge Date, with respect to all matters other than a Junior Lender Consent Matter or an All Lender Consent Matter, the Senior Facility Agent acting at the direction of the Majority Senior Lenders and (b) from and after the Senior Discharge Date, the Junior Facility Agent acting at the direction of the Majority Junior Lenders.

Controlling Creditor means, (a) for so long as there are Synthetic Assets outstanding under the relevant Synthetic Asset Agreement and (i) no “Event of Default” or (ii) “Termination Event” (each as defined in the Synthetic Asset Agreement and, in the case of a Termination Event, occurring as a result of a withdrawal or downgrade of any rating assigned to the Synthetic Asset Counterparty by the Rating Agencies and the failure of Synthetic Asset Counterparty to take any measures contemplated by the relevant agreement to remedy such withdrawal or downgrade) has occurred in respect of which the Synthetic Asset Counterparty is, in the case of (i) above, the sole “Defaulting Party” and, in the case of (ii) above, the sole “Affected Party” (each as such term is defined in the Synthetic Asset Agreement), the Synthetic Asset Counterparty over the relevant Liquidity Facility Provider, (b) if there are no Synthetic Assets outstanding under the relevant Synthetic Asset Agreement or (i) an “Event of Default”, or (ii) “Termination Event” (each as defined in the relevant Synthetic Asset Agreement and, in the case of a Termination Event, occurring as a result of a withdrawal or downgrade of any rating assigned to the Synthetic Asset Counterparty by the Rating Agencies and the failure by the Synthetic Asset Counterparty to remedy such withdrawal or downgrade) has occurred in respect of which the Synthetic Asset Counterparty is, in the case of (i) above, the sole “Defaulting Party” or, in the case of (ii) above, the sole “Affected Party” (as each term is defined in the Synthetic Asset Agreement), and the Liquidity Facility is not fully repaid and cancelled, the relevant Liquidity Facility Provider and (c) if there are no Synthetic Assets outstanding under the Synthetic Asset Agreement or (i) an “Event of Default” or(ii) ”Termination Event” (each as defined in the Synthetic Asset Agreement and, in the case of a Termination Event, occurring as a result of a withdrawal or downgrade of any rating assigned tothe Synthetic Asset Counterparty by the Rating Agencies and the failure by the Synthetic Asset Counterparty to take any of the measures contemplated by the Synthetic Asset Counterparty to remedy such withdrawal or downgrade) has occurred in respect of which the Synthetic Asset Counterparty is, in the case of (i) above, the sole “Defaulting Party” or, in the case of (ii) above, the sole “Affected Party” (as each term is defined in the relevant Initial Derivative Agreement) and the relevant Liquid...

Controlling Creditor means at any time, the Financial Guarantors unless and until such time:

Controlling Creditor means at any time, the Financial Guarantors unless and untilsuch time:

Controlling Creditor means the Financial Guarantors unless and until such time:

Controlling Creditor has the meaning given in the Collateral Deed.