Majority Commitment Parties definition

Majority Commitment Parties means Commitment Parties whose aggregate Commitment Pro Rata Share exceeds 66 2/3%, provided that such Commitment Parties must include at least one member of the Ad Hoc Committee (as at the date of the Commitment Letter) whose Commitment Pro Rata Share as at the applicable date of determination is at least 80% of its Commitment Pro Rata Share on the date of the Commitment Letter (or, if applicable, following any adjustment to such Commitment Pro Rata Share in respect of Reallocated Pro Rata Share pursuant to section 10(c) of the Commitment Letter), but only to the extent that any such member of the Ad Hoc Committee continues to satisfy such requirement as at the applicable determination date;
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Majority Commitment Parties has the meaning given to it in the Commitment Letter. "Majority Initial Consenting Noteholders" means Initial Consenting Noteholders holding not less than 66 2/3% of the aggregate principal amount of the Senior Unsecured Notes held by all Initial Consenting Noteholders. "New 1.5 Lien Notes" means in aggregate the CAD$60 million in new 10% PIK interest convertible secured notes to be issued prior to or concurrent with the completion of the Recapitalization Transaction. "New Shares" means all Common Shares of CWS issued to Senior Unsecured Noteholders pursuant to the Plan. "Noteholders" means, collectively, the Senior Unsecured Noteholders. "Proceedings" means the Company's proceedings under the CBCA pursuant to which the Plan shall be implemented. "Pro Forma Common Shares" means all of the issued and outstanding common shares of CWS, as at immediately following the Effective Time and taking into account the Existing Shareholder Shares and the New Shares, but not taking into account the Backstop Shares issued pursuant to the Plan, and subject to dilution pursuant to conversion of the New 1.5 Lien Notes. "Record Date" means July 13, 2020. "Second Lien Noteholders" means a holder or holders of the Second Lien Notes, in their capacity as such.
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Majority Commitment Parties means, at any time, those Incremental Lenders having Third Incremental Revolving Facility Commitments representing more than 50% of the sum of all Third Incremental Revolving Facility Commitments in effect at such time.
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Examples of Majority Commitment Parties in a sentence

  • Governance The composition and size of the Board of the Company following implementation of the Plan shall be acceptable to each of the Majority Commitment Parties, the Majority Initial Consenting Noteholders and as may otherwise be required pursuant to the terms of any Support Agreement or the Commitment Letter.

  • Share Consolidation As a step in the Plan, the Common Shares shall be consolidated (the "Share Consolidation") using a ratio that is acceptable to the Company, the Majority Commitment Parties, and the Majority Initial Consenting Noteholders, each acting reasonably.

  • The Applicants shall have the right with the consent of the Majority Commitment Parties to waive strict compliance with Early Consent Date, the Participation Deadline, the Funding Deadline or the Commitment Party Funding Deadline, along with any other deadlines for the submissions of forms or other documentation pursuant to this Plan, and shall be entitled to waive any deficiencies with respect to any forms or other documentation submitted pursuant to this Plan.


More Definitions of Majority Commitment Parties

Majority Commitment Parties means Commitment Parties whose aggregate Commitment Pro Rata Share exceeds 66 2/3%, provided that such Commitment Partiesmust include at least one member of the Ad Hoc Committee (as at the date hereof) whose Commitment Pro Rata Share as at the applicable date of determination is at least 80% of its Commitment Pro Rata Share on the date hereof (or, if applicable, following any adjustment to such Commitment Pro Rata Share in respect of Reallocated Pro Rata Share pursuant to Section 10(c) of this Commitment Letter), but only to the extent that any such member of the Ad Hoc Committee continues to satisfy such requirement as at the applicable determination date.
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Majority Commitment Parties has the meaning set forth in the Commitment Letter. “Material Adverse Effect” means a material adverse change in, or material adverse effect on, (i) the business, properties, condition (financial or otherwise), results of operations or liabilities of the Borrower and its Subsidiaries, taken as a whole, other than any change, event or occurrence, arising individually or in the aggregate, from (a) events leading up to the
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Majority Commitment Parties shall have the meaning assigned to the term “Majority Joint Lead Arrangers” in the Commitment Letter.
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Majority Commitment Parties means, at any time, Incremental Lenders having Second Incremental Revolving Facility Commitments representing more than 50% of the sum of all Second Incremental Revolving Facility Commitments in effect at such time.
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Related to Majority Commitment Parties

  • Commitment Parties means the “Commitment Parties” as defined in the Commitment Letter.

  • Equity Commitment means (a) options, warrants, convertible securities, exchangeable securities, subscription rights, conversion rights, exchange rights, or other Contracts that could require a Person to issue any of its Equity Interests or to sell any Equity Interests it owns in another Person; (b) any other securities convertible into, exchangeable or exercisable for, or representing the right to subscribe for any Equity Interest of a Person or owned by a Person; (c) statutory pre-emptive rights or pre-emptive rights granted under a Person's Organizational Documents; and (d) stock appreciation rights, phantom stock, profit participation, or other similar rights with respect to a Person.

  • SBIC Equity Commitment means a commitment by the Borrower to make one or more capital contributions to an SBIC Subsidiary.

  • Revolving Facility Commitment means, with respect to any Revolving Facility Lender, such Lender’s commitment to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Lender’s Revolving Facility Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04 and (c) increased (or replaced) as provided under Section 2.20. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 to the Original Credit Agreement, or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment (or Incremental Revolving Facility Commitment), as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments as of the Closing Date is $100,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Liquidity Commitment means, as to each Liquidity Provider, its commitment under the Liquidity Agreement (which generally will equal 102% of its Commitment hereunder).

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.

  • Term Facility Commitment means the commitment of a Lender to make Term Loans, including Term B Loans and/or Other Term Loans.

  • Other Revolving Commitments means one or more Classes of revolving credit commitments hereunder or extended Revolving Commitments that result from a Refinancing Amendment or a Loan Modification Agreement.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Equity Commitment Letters has the meaning set forth in Section 6.6(a).

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Equity Commitment Letter has the meaning set forth in Section 3.4(a).

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Restatement Date is $265,000,000.

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Backstop Commitment has the meaning set forth in Section 2.2(b).

  • Total Facility A Commitments means the aggregate of the Facility A Commitments, being €300,000,000 at the date of this Agreement.

  • Backstop Commitment Agreement means that certain Backstop Commitment Agreement, by and between CEOC and the PropCo Preferred Backstop Investors party thereto from time to time, as the same may be amended, amended and restated, supplemented, or otherwise modified from time to time in accordance with its terms, the form of which shall be included in the Plan Supplement.

  • Total Revolving Commitments at any time, the aggregate amount of the Revolving Commitments then in effect.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Revolving Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Revolving Commitment, if any, is set forth on Appendix A-3 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Revolving Commitments as of the Closing Date is $250,000,000.

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Lenders as the same may be decreased or increased pursuant to the terms of this Agreement. As of the Closing Date, the amount of the Total Revolving Commitment is $250,000,000.

  • Initial Lenders has the meaning specified in the recital of parties to this Agreement.

  • Total Facility B Commitments means the aggregate of the Facility B Commitments, being US$830,000,000 at the date of this Agreement.

  • Facility A Commitment means, with respect to any Lender, the principal amount set out beside such Lender's name in Schedule V with reference to Facility A, as amended from time to time, and to the extent not cancelled or terminated hereunder.

  • Total Commitment means, at any time, the sum of the Commitments of each of the Lenders at such time.