Majority Benefited Parties definition

Majority Benefited Parties has the meaning specified in the Intercreditor Agreement.
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Majority Benefited Parties means (A) each group referred to in clause (a), (b) or (c) above which does vote as a separate class, and (B) the Benefited Parties, considered as a single class, holding more than 50% of the sum of the amounts referred to in clauses (I), (II) and (III), above.
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Majority Benefited Parties has the meaning specified in the Intercreditor Agreement. "Permitted Liens" has the meaning specified in Section 3.1 of this Agreement. "Permitted Securitization" shall mean a "Permitted Securitization" under each of the applicable Financing Agreements. "Pledged Shares" means the shares of capital stock or other equity, partnership or membership interests described on Schedule D attached hereto and incorporated herein by reference, as such schedule may be amended, modified or replaced from time to time. "Prior Security Agreement(s)" is defined in Section 7.16 of this Agreement. "Proceeds" means any "proceeds," as such term is defined in Article or Chapter 9 of the UCC and, in any event, shall include, but not be limited to, (a) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to an applicable Debtor from time to time with respect to any of the Collateral, (b) any and all payments (in any form whatsoever) made or due and payable to such Debtor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental authority (or any Person acting, or purporting to act, for or on behalf of any 5 <PAGE> governmental authority), and (c) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. "Records" is defined in Section 4.9 of this Agreement. "Security Documents" has the meaning specified in the Intercreditor Agreement. "Significant Domestic Subsidiary" shall mean any Significant Domestic Subsidiary under the Credit Agreement or the Future Debt Documents, as in effect from time to time. "Software" has the meaning specified in Section 2.1(g) of this Agreement. "Special Account" is defined in Section 6.3 of this Agreement. "Subsidiary" shall mean any Subsidiary under the Credit Agreement or under the Future Debt Documents, as in effect from time to time. "T & C Subsidiary" shall mean CAC (TCI) Ltd., a company established under the laws of the Turks and Caicos Islands. The T& C Subsidiary shall be considered and deemed to be, solely for purposes of the grant of a security interest and lien over all of its property described in Sections 2.1(i) and 2.1(k) of this Agreement and the maintenance of the Receiving Account established under Section 4.14(c) of this Agreement, a Debtor under this Agreement. "UCC" means the Uniform Commercial Code as in effect in the State of Michigan; provided, that ...
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Examples of Majority Benefited Parties in a sentence

  • The Election, once made by the Majority Benefited Parties, as aforesaid, shall remain in effect, and Debtors shall remain obligated to comply with such Election, notwithstanding any subsequent waiver or cure of the applicable Event of Default giving rise to such election, unless the Election is withdrawn by the Majority Benefited Parties.


More Definitions of Majority Benefited Parties

Majority Benefited Parties means (a) the Required Lenders under the Credit Agreement, and (b) Noteholders holding (or representing) at least 51% of the outstanding principal amount of the Senior Notes, each voting as a separate class, provided that if at any time the amount of the Credit Obligations or the aggregate outstanding principal amount of the Senior Notes represents less than 5% of the sum of the aggregate outstanding principal amount of the indebtedness evidenced by the Senior Notes and the amount of the Credit Obligations, then "Majority Benefited Parties" shall mean Benefited Parties, considered as a single class, holding more than 50% of the sum of (i) the outstanding principal amount of the Senior Notes, plus (ii) the outstanding amount of the Credit Obligations. Determination of the "amount of the Credit Obligations" shall be based on the commitments of the Lenders; provided that if an Event of Default shall exist such determination shall be based on the amount of the outstanding Credit Obligations.
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Majority Benefited Parties means Benefited Parties, considered as a single class, holding more than 50% of the sum of (i) the outstanding principal amount of the Senior Notes, plus (ii) the outstanding amount of the Credit Obligations. Determination of the "amount of the Credit Obligations" shall be based on the commitments of the Lenders; provided that if an Event of Default shall exist such determination shall be based on the amount of the outstanding Credit Obligations.
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Majority Benefited Parties means on any date of determination the Lenders, considered as a single class, holding more than 50% of the sum of (i) the combined Commitments of the Revolver Lenders under the Revolver Credit Agreement (as defined therein on the date hereof, as may be reduced from time to time) or, if such Commitments are terminated, the aggregate unpaid principal amount of the Loans (plus the aggregate undrawn amount available for drawing letters of credit under the Revolver Credit Agreement and all unreimbursed payments and disbursements under such letters of credit) under the Revolver Credit Agreement, PLUS (ii) the aggregate unpaid principal amount of the Loans under the Casden Credit Agreement (as defined therein on the date hereof, as may be reduced from time to time), PLUS (iii) the aggregate unpaid principal amount of the Loans under the Term Credit Agreement (as defined therein on the date hereof, as may be reduced from time to time).
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Majority Benefited Parties means (a) the Required Lenders under the Credit Agreement, and (b) Noteholders holding (or representing) at least 51% of the outstanding principal amount of the Senior Notes, each voting as a class, provided that if at any time the aggregate outstanding principal amount of the indebtedness (including all Letters of Credit Usage) evidenced by the Credit Notes or the aggregate outstanding principal amount of the
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Majority Benefited Parties means Benefited Parties, considered as a single class, holding more than 51% of the sum of (i) the outstanding principal amount of the Senior Notes, plus (ii) the outstanding principal amount of the Credit Notes.
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Majority Benefited Parties means (a) the Required Lenders, (b) the Required Noteholders and (c) the Required Future Debt Holders (if any), in each case voting as a separate class, provided that if at any time (I) the aggregate principal amount of all outstanding indebtedness under the Credit Agreement (including in the determination thereof all Hedging Exposure and Letter of Credit Usage) plus, at all times when a commitment to extend financing exists under the Credit Agreement and the Lenders do not have the right at such time immediately to terminate such commitment, the amount of all unused commitments under the Credit Agreement or (II) the aggregate principal amount of all outstanding indebtedness under the Note Agreements or (III) the aggregate principal amount of all outstanding Future Debt represents, in any such case, less than 10% of the sum of the amounts referred to in clauses (I), (II), and (III) above, then any such group referred to in clause (a), (b) or (c) which represents less than 10% of the sum of such amounts shall not vote as a separate class and "Majority Benefited Parties" shall mean (A) each group referred to in clause (a), (b) or (c) above which does vote as a separate class, and (B) the Benefited Parties, considered as a single class, holding more than 50% of the sum of the amounts referred to in clauses (I), (II) and (III), above.
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Related to Majority Benefited Parties

  • Majority in Interest of Noteholders means, as of a particular date of determination and subject to Section 2.16 of the Indenture, the holders of at least a majority in aggregate unpaid principal amount of all Equipment Notes outstanding as of such date (excluding any Equipment Notes held by the Company or any Affiliate thereof, it being understood that a Pass Through Trustee shall be considered an Affiliate of the Company as long as more than 50% in the aggregate face amount of Pass Through Certificates issued by the corresponding Pass Through Trust are held by the Company or an Affiliate of the Company or a Pass Through Trustee is otherwise under the control of the Company or such Affiliate of the Company (unless all Equipment Notes then outstanding are held by the Company or any Affiliate thereof, including the Pass Through Trustees which are considered Affiliates of the Company pursuant hereto)); provided that for the purposes of directing any action or casting any vote or giving any consent, waiver or instruction hereunder, any Noteholder of an Equipment Note or Equipment Notes may allocate, in such Noteholder’s sole discretion, any fractional portion of the principal amount of such Equipment Note or Equipment Notes in favor of or in opposition to any such action, vote, consent, waiver or instruction.

  • Exculpated Claim means any Claim related to any act or omission in connection with, relating to, or arising out of the Debtors' in or out of court restructuring, the Chapter 11 Cases, formulation, preparation, dissemination, negotiation, or filing of the Disclosure Statement, the Plan, the settlement of Claims or renegotiation of Executory Contracts or Unexpired Leases, the negotiation of the Plan, the DIP Credit Agreement, the Plan Supplement, the Exit Facility Credit Agreement, or any contract, instrument, release, or other agreement or document created or entered into in connection with the Disclosure Statement or Plan, the filing of the Chapter 11 Cases, the pursuit of Confirmation, the pursuit of consummation of the Plan, the administration, consummation, and implementation of the Plan, the distribution of property under the Plan, or any transaction contemplated by the Plan or Disclosure Statement, or in furtherance thereof; provided, however, that Exculpated Claims shall not include any claim arising out of any act or omission that is determined in a Final Order to have constituted gross negligence, willful misconduct, or intentional fraud to the extent imposed by applicable non-bankruptcy law. For the avoidance of doubt, no Cause of Action, obligation or liability expressly set forth in or preserved by the Plan or the Plan Supplement constitutes an Exculpated Claim.

  • Consenting Creditors has the meaning set forth in the preamble to this Agreement.

  • Majority in Interest of the Limited Partners means Limited Partners (other than the General Partner and any Limited Partner 50% or more of whose equity is owned, directly or indirectly, by the General Partner) holding Percentage Interests that in the aggregate are greater than fifty percent (50%) of the aggregate Percentage Interests of all Limited Partners (other than the General Partner and any Limited Partner 50% or more of whose equity is owned, directly or indirectly, by the General Partner).

  • Consenting Noteholders has the meaning set forth in the preamble to this Agreement.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

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

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • Required Consenting Noteholders means, as of the relevant date, the Consenting Noteholders then holding greater than fifty and one-tenth percent (50.1%) of the aggregate outstanding principal amount of Senior Notes Claims that are held by all Consenting Noteholders subject to the Restructuring Supporting Agreement as of such date.

  • Interests of the beneficiaries means the beneficial interests provided in the terms of the trust.

  • Administrative Claim Bar Date means the deadline for filing requests for payment of Administrative Claims, which shall be 30 days after the Effective Date.

  • Majority in Interest of the Partners on any date (a “vote date”) means one or more persons who are Partners (including the General Partner but excluding Nonvoting Special Partners) on the vote date and who, as of the last day of the most recent accounting period ending on or prior to the vote date (or as of such later date on or prior to the vote date selected by the General Partner as of which the Partners’ capital account balances can be determined), have aggregate capital account balances representing at least a majority in amount of the total capital account balances of all the persons who are Partners (including the General Partner but excluding Nonvoting Special Partners) on the vote date.

  • Requisite Creditors of any Class shall mean each of (x) with respect to the Credit Document Obligations, the Required Banks and (y) with respect to the Other Obligations, the holders of at least a majority of all obligations outstanding from time to time under the Interest Rate Protection Agreements or Other Hedging Agreements.

  • Instituting Noteholders has the meaning set forth in Section 7.6(a) of the Indenture.

  • Noteholder Claims means all Obligations in respect of the Notes or arising under the Noteholder Documents or any of them, including all fees and expenses of the Trustee thereunder.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Majority in Interest of Note Holders Make-Whole Amount" or "Note Holder," or the percentage of Note Holders required to take or approve any action hereunder, (ii) reduce the amount, or change the time of payment or method of calculation of any amount, of Original Amount, Make-Whole Amount, if any, or interest with respect to any Equipment Note, or alter or modify the provisions of Article III hereof with respect to the order of priorities in which distribution thereunder shall be made as among the Note Holders, the Owner Trustee and Lessee, (iii) reduce, modify or amend any indemnities in favor of the Owner Trustee, the Mortgagee or the Note Holders (except that the Owner Trustee (in its individual capacity) or the Mortgagee, as the case may be, may consent to any waiver or reduction of an indemnity payable to it) or the other Indenture Indemnitees, (iv) consent to any change in the Trust Indenture or the Lease which would permit redemption of Equipment Notes earlier than permitted under Section 2.10 or 2.11 hereof or the purchase or exchange of the Equipment Notes other than as permitted by Section 2.13 hereof, (v) except as contemplated by the Lease or the Participation Agreement, reduce the amount or extend the time of payment of Basic Rent, Stipulated Loss Value, or Termination Value for the Aircraft in each case as set forth in the Lease, or modify, amend or supplement the Lease or consent to any assignment of the Lease, in either case releasing Lessee from its obligations in respect of the payment of Basic Rent, Stipulated Loss Value or Termination Value for the Aircraft or altering the absolute and unconditional character of the obligations of Lessee to pay Rent as set forth in Sections 3 and 16 of the Lease or (vi) permit the creation of any Lien on the Trust Indenture Estate or any part thereof other than Permitted Liens or deprive any Note Holder of the benefit of the Lien of this Trust Indenture on the Trust Indenture Estate, except as provided in connection with the exercise of remedies under Article IV hereof.

  • Administrative Claims Bar Date means the deadline for Filing requests for payment of Administrative Claims, which: (a) with respect to Administrative Claims other than Professional Fee Claims, shall be 30 days after the Effective Date; and (b) with respect to Professional Fee Claims, shall be 45 days after the Effective Date.

  • Majority Revolving Credit Lenders means Revolving Credit --------------------------------- Lenders having at least 51% of the aggregate amount of the Revolving Credit Commitments or, if the Revolving Credit Commitments shall have terminated, Lenders holding at least 51% of the sum of (a) the aggregate unpaid principal amount of the Revolving Credit Loans plus (b) the aggregate amount of all Letter of Credit Liabilities.

  • Other Priority Claims means any Claim, other than an Administrative Claim or a Priority Tax Claim, entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Disputed Claim means any Claim that is not Allowed.

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Closing Dates thereof among the Borrower, the other Credit Parties from time to time party thereto, the Second Lien Lenders and the Second Lien Administrative Agent, as the same may be amended, restated and/or modified from time to time subject to the terms thereof.

  • Prepetition Lenders means those lenders party to the Prepetition Credit Agreement from time to time.

  • Priority Claim means a Claim that is entitled to priority in payment pursuant to section 507(a) of the Bankruptcy Code that is not an Administrative Claim or a Priority Tax Claim.