Majority Consenting Parties definition

Majority Consenting Parties means the Initial Consenting Parties holding a majority of the aggregate principal amount of the Existing Level 3 Debt held by the Initial Consenting Parties at the applicable time.

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Majority Consenting Parties means a majority in number of the Consenting

Majority Consenting Parties means the Initial Eligible Consenting Parties holding a majority of the principal amount of each tranche of (i) the Existing Term Loans, (ii) the 2025 Notes and (iii) the 2024 Notes, in each case held by the Initial Eligible Consenting Parties at the applicable time. For the avoidance of doubt, the test for Majority Consenting Parties is only satisfied if each of subsections (i)-(iii) of the immediately preceding sentence, tested separately for each tranche, is satisfied.

Examples of Majority Consenting Parties in a sentence

Holders participating in the 2025 Consent Solicitation shall also provide the other consents and waivers agreed by the Company and the Majority Consenting Parties in connection with the 2025 Consent Solicitation.
Additional terms and conditions with respect to the Warrants shall be documented in a Warrant Agreement that shall set forth the rights described herein and other customary terms and conditions as may be reasonably agreed by the Majority Consenting Parties and the Company (the “Warrant Agreement”).
Amendment and 2025 Consent Solicitation The Company shall solicit consents from holders of 2025 Notes to amend the Existing 2025 Indentures (and other consents and waivers to be agreed by the Company and the Majority Consenting Parties) (the “2025 Consent Solicitation”).
Holders of 2024 Notes participating in the 2024 Consent Solicitation and Exchange Offer shall also provide the other consents and waivers agreed by the Company and the Majority Consenting Parties in connection with the 2024 Consent Solicitation and Exchange Offer.
Other Provisions The terms of the ABL Facility shall be reasonably acceptable to the Majority Consenting Parties.
Collateral Agent A financial institution reasonably acceptable to the Majority Consenting Parties and the Company.
All of the Superpriority Loans shall be provided by a financial institution acting as a fronting lender that is mutually and reasonably acceptable to the Company and the Majority Consenting Parties and subsequently assigned as a loan to the applicable Consenting Party.
The holders of Existing Term Loans participating in the Term Loan Exchange shall provide consents to amend the Existing Credit Agreement as set forth in this Term Sheet and other consents and waivers to be agreed by the Company and the Majority Consenting Parties in connection with the Term Loan Exchange.
Trustee A financial institution reasonably acceptable to the Majority Consenting Parties and the Company.
Tax Treatment Notwithstanding anything to the contrary herein, Majority Consenting Parties and the Company will structure the Transactions in a mutually acceptable tax efficient manner, including with respect to income tax and withholding tax consequences of the Transactions to holders and the Company, and support mutually acceptable tax positions, provided such positions are reasonable.

More Definitions of Majority Consenting Parties

Majority Consenting Parties means Consenting Parties holding at least (a) 50.1% of the aggregate principal amount of the Existing First Lien Term Loans and (b) 50.1% of the aggregate principal amount of the Existing First Lien Notes, in each case, held by all Consenting Parties at the applicable time; provided, that solely with respect to actions that would require the consent of a majority of the aggregate outstanding principal amount of (a) the Existing First Lien Term Loans and (b) the Existing First Lien Notes, in each case pursuant to that certain Cooperation Agreement, dated as of July 25, 2025, by and among the cooperating parties signatory thereto, (as determined by the Majority Consenting Parties (without giving effect to this proviso) upon the good faith advice of ▇▇▇▇, ▇▇▇▇▇ following consultation with ▇▇▇▇▇▇ and good faith consideration of its views), Majority Consenting Parties shall mean at least (a) 50.1% of the aggregate outstanding principal amount of the Existing First Lien Term Loans and (b) 50.1% of the aggregate outstanding principal amount of the Existing First Lien Notes.