Majority Beneficiaries definition

Majority Beneficiaries means the banks and Bond Trustee together holding more than 50% of the secured debt.

Majority Beneficiaries means the Beneficiaries together holding more than 50% of the secured debt.

Majority Beneficiaries means, at any time, Beneficiaries holding a ---------------------- majority in interest of the Restricted Shares (including Restricted Shares issuable upon exercise of Warrants) at such time.

Examples of Majority Beneficiaries in a sentence

• Upon its termination or resignation, the Trustee of the Second Trust will promptly settle the existing rights and obligations of the Trustee of the Second Trust as against the Trustor of the Second Trust and the Beneficiaries of the Second Trust and deliver to the Successor Trustee or to a person designated by the Majority Beneficiaries and ABL Lenders, all records, files, and information held in accordance with the Second Trust Agreement.

• If the Trustee of the Second Trust is dismissed or resigns pursuant to the Second Trust Agreement (except for (c) of C above), the Majority Beneficiaries and ABL Lenders will, jointly appoint a Successor Trustee which meets the Trustee Eligibility Criteria and is willing to accept the appointment as trustee under the Second Trust Agreement.

• The Security Trust Deed provides that the Security Trustee shall, in exercising its rights under the Securities and the Security Trust Deed, generally act in accordance with the instructions of the Majority Beneficiaries.

• The Security Trustee must not amend or vary this clause 9 (Secured Hedge Counterparties) unless instructed to do so by the Controlling Majority Beneficiaries and all Secured Hedge Counterparties.

• Until all of the Secured Obligations shall have been satisfied in full and no Bank Lender is obligated to make a further advances under the Bank Agreement, no Obligor will, without the prior written consent of the Majority Beneficiaries, enter into any agreement (including, without limitation, a license agreement) that is inconsistent with such Obligor's obligations under this Agreement.

More Definitions of Majority Beneficiaries

Majority Beneficiaries means, at any time, Beneficiary Representatives and Unrepresented Beneficiaries whose Credit Participations at that time aggregate to more than 66.66% of the total Credit Participations at that time;

Majority Beneficiaries means, at any time, Beneficiaries (other than National, if applicable) that hold or represent or act on behalf of Financing Sources (other than National, if applicable) that hold (including by way of pledge or assignment) more than 66-2/3% of the outstanding principal amount of indebtedness of National or NFLP under the Financing Documents at such time (excluding any such indebtedness held by National or NFLP).

Majority Beneficiaries means Majority Lenders as defined in the Senior Credit Agreement.

Majority Beneficiaries means, at any time, Beneficiaries (other than Republic and any of its Affiliates (excluding NFLP, Alamo Leasing, CarTemps Leasing, any other Lessor Grantor and any Affiliate of Republic that is a special purpose entity that has entered into a financing arrangement secured by one or more Series of Notes), if applicable) that hold or represent or act on

Majority Beneficiaries means a Beneficiary or Beneficiaries to whom in aggregate more than sixty-six and two thirds per cent. of the amounts outstanding under the Senior Facilities is (or, immediately prior to its repayment, was then) owed, calculated on the date on which the Facility Agent under the Senior Facilities Agreement seeks instructions from the Beneficiaries.

Majority Beneficiaries means the beneficiaries under the Security Trust Deed (currently represented by the Banks Agent and Bond Trustee) together holding more than 50% of the secured debt from time to time.

Majority Beneficiaries means two (2) or more QSF Beneficiaries who collectively hold at least 51% of the QSF Representative Shares.