Majority Creditors definition

Majority Creditors has the meaning specified in the Intercreditor Agreement.

Majority Creditors means Creditors under this Agreement holding at least fifty-one percent (51%) of all the outstanding Credits owed by the Debtor to all Creditors under this Agreement.

Majority Creditors means each of (a) the Required Lenders, and (b) the Required Holders, each voting as a separate class.

Examples of Majority Creditors in a sentence

• The predecessor Collateral Agent shall, nevertheless, on the written request of the Majority Creditors or successor Collateral Agent, execute and deliver any other such instrument transferring to such successor Collateral Agent all the Collateral, properties, rights, power, trust, duties, authority and title of such predecessor.

• The Common Terms Agreement allows Anglian Water (following a Periodic Review or any material change in the regulation of the water industry in the United Kingdom) to amend any financial ratio contained within the covenants, Trigger Events or Events of Default provided that each Financial Guarantor and the Security Trustee (acting on the instructions of the Majority Creditors) agree and the Rating Requirements have been met.

• As a result, Noteholders can be bound by the process of enforcement that is determined by the Majority Creditors, which may differ from the interests of Noteholders.

• The Collateral Agent shall have the right to take such actions, or omit to take such actions, hereunder and under the Security Documents not inconsistent with the written instructions of the Majority Creditors delivered pursuant to Section 5.3 hereof or the terms of this Agreement, including actions the Collateral Agent deems necessary or appropriate to perfect or continue the perfection of the Liens on the Collateral for the benefit of the Creditors.

• The Collateral Agent may, without the approval of the Majority Creditors as required by Section 5.6 hereof, release any Collateral under the Security Documents which is expressly permitted to be sold or disposed of by the Borrower and its Affiliates, including, without limitation, the Guarantors, pursuant to all Senior Secured Documents and execute and deliver such releases as may be necessary to terminate of record the Collateral Agent’s security interest in such Collateral.

More Definitions of Majority Creditors

Majority Creditors has the meaning assigned to such term in the Security Agreement.

Majority Creditors means, at any time, prior to a Distress Event occurring, those Creditors whose Credit Participations at that time aggregate more than 50 per cent. of the total Credit Participations at that time and thereafter those Creditors whose Credit Participations at that time aggregate more than 662/3 per cent. of the total Credit Participations at that time.

Majority Creditors means, at any time, one or more Lenders, Bilateral Banks and Hedging Banks whose Credit Participations at that time in aggregate are equal to or greater than 662/3% of the total Credit Participations at that time.

Majority Creditors means, at any time and from time to time, such group of Lenders and Production Payment Termination Fee Holder(s) whose Pro Rata Share hereunder and under the Production Payment Agreement Termination Agreement aggregate at least 51% of the aggregate Pro Rata Share of the Lenders and the Production Payment Termination Fee Holder(s) hereunder and under the Production Payment Agreement Termination Agreement at such time;

Majority Creditors has the meaning set out in paragraph 23.3(d) of Clause 23.3 (Amendments to Transaction Security Documents).

Majority Creditors means, in relation to the Senior Lenders, Senior Lenders holding in aggregate more than 66 2/3% of the Senior Liabilities (excluding the Hedging Liabilities) and in relation to the Hedge Providers, Hedge Providers holding in aggregate more than 66 2/3% of the Hedging Liabilities.

Majority Creditors means (a) Noteholders holding at least 51% of the aggregate outstanding principal amount of the indebtedness evidenced by the Senior Secured Notes, (b) Revolving Credit Facility Lenders holding at least 51% of the aggregate amount of the Revolving Credit Facility Lender Exposure of all Revolving Credit Facility Lenders and (c) Franchise Loan Facility Participants holding at least 51% of the aggregate amount of the Franchise Loan Facility Participant Exposure of all Franchise Loan Facility Participants, in each case, voting as a separate class.