Controlling Secured Parties definition

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.

Controlling Secured Parties means, with respect to any Shared Collateral, (i) at any time when the Credit Agreement Collateral Agent is the Controlling Collateral Agent with respect to such Shared Collateral, the Credit Agreement Secured Parties and (ii) at any other time, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral.

Controlling Secured Parties means, with respect to any Shared Collateral, the Series of Equal Priority Secured Parties whose Collateral Agent is the Controlling Collateral Agent for such Shared Collateral.

Examples of Controlling Secured Parties in a sentence

• No Non-Controlling Authorized Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Controlling Authorized Representative or the Controlling Secured Parties or any other exercise by the Controlling Authorized Representative or the Controlling Secured Parties of any rights and remedies relating to the Common Collateral or to cause the Controlling Authorized Representative to do so.

• Notwithstanding the equal priority of the Liens, the Applicable Authorized Representative (acting on the instructions of the Controlling Secured Parties) may deal with the Shared Collateral as if such Applicable Authorized Representative had a senior Lien on such Collateral.

• The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Secured Credit Document in accordance with a request or consent of the Applicable Authorized Representative or the majority of the Controlling Secured Parties (or such greater number of Lenders as may be expressly required hereby in any instance) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders.

• Except as permitted by Section 9.01 of the Indenture, no amendment, modification, supplement, termination or waiver of or to any provision hereof, nor consent to any departure by any Pledgor therefrom, shall be effective unless the same shall be made in accordance with the terms of the Indenture and unless in writing and signed by the Collateral Agent with the written consent of the Controlling Secured Parties.

• The Existing RCF Lenders party hereto constituting the Controlling Secured Parties under the Intercreditor Agreement hereby direct the Existing Collateral Agent and the New Collateral Agent to enter into any consents, amendments, or supplements to any First Lien Security Document as may be necessary or appropriate to carry out the purposes of this Section 3.

More Definitions of Controlling Secured Parties

Controlling Secured Parties means (i) at any time when the Administrative Agent is the Applicable Collateral Agent, the Credit Agreement Secured Parties and (ii) at any other time, the Series of First Lien Secured Parties whose Authorized Representative is the Applicable Authorized Representative.

Controlling Secured Parties means, with respect to any Shared Collateral, (i) at any time when the Credit Agreement Collateral Agent is the Applicable Collateral Agent, the Credit Agreement Secured Parties and (ii) at any other time, the Series of Secured Parties whose Authorized Representative is the Applicable Authorized Representative for such Shared Collateral.

Controlling Secured Parties means, with respect to any Collateral, the Series of Parity Lien Secured Parties whose Authorized Representative is the Controlling Authorized Representative under the Pari Passu Intercreditor Agreement at such time for such Collateral.

Controlling Secured Parties means the Series of Pari Passu Secured Parties whose Authorized Representative is the Controlling Authorized Representative.

Controlling Secured Parties means, with respect to any Common Collateral consisting of ABL Collateral or Non-ABL Collateral and any Secured Parties, the Prior Secured Parties with respect to such Common Collateral and in respect of which Common Collateral all Other Secured Parties are Junior Secured Parties.

Controlling Secured Parties means as between the Notes Secured Parties and the Additional Secured Parties, the Secured Parties whose Authorized Second Lien Representative is the Applicable Authorized Second Lien Representative.

Controlling Secured Parties means the series of Secured Parties whose First Lien Agent is the Applicable Agent.