Initiating Percentage means Senior Creditor Group Representatives representing the following percentages of the principal amount of Senior Debt Obligations outstanding during the following periods (or, if no Senior Debt is outstanding, commitments in respect thereof):
Initiating Percentage means with respect to any instruction to the Intercreditor Agent in accordance with Clause 28.2(e) following the declaration of an Event of Default, the following percentage at the time indicated: Percentage Number of days after the declaration of the Event of Default by the Intercreditor Agent (acting on the instructions of Majority Lenders) 66 2/3% 0-15 50% 15-30 25% 30 or more
Initiating Percentage means Designated Voting Parties representing, --------------------- in the aggregate, (i) in the case of an Event of Default under Section 8.1(a) of -------------- the Indenture or any similar Event of Default under any other Financing Document, Secured Parties holding at least thirty-three and one-third percent (33 1/3%) of the aggregate Combined Exposure, and (ii) in the case of any other Event of Default, Senior Secured Parties holding greater than fifty percent (50%) of the aggregate Combined Exposure.
Examples of Initiating Percentage in a sentence
Initiating Percentage for Enforcement Action with Respect to Collateral) of the Common Terms Agreement.
Unless the Remedies Initiation Notice was executed by Designated Voting Parties constituting the Initiating Percentage, the Intercreditor Agent shall request instructions from the Designated Voting Parties as to whether the Intercreditor Agent should exercise the Proposed Remedies or other remedies on the Remedies Commencement Date or no remedies.
Notwithstanding the foregoing if the Designated Voting Parties constituting the applicable Initiating Percentage direct the P1 Intercreditor Agent to direct the P1 Collateral Agent not to exercise remedies, then no remedies shall be exercised at that time under this Article 7.
More Definitions of Initiating Percentage
Initiating Percentage means the Designated Voting Parties representing the following: