Majority Debenture Holders definition

Majority Debenture Holders means the Debenture Holders whose share in the Principal Amount aggregates to equal to or more than [•] of the value of the nominal amount of the Debentures for the time being outstanding. Provided that for the purpose of this definition, the Debentures held by the Issuer, Sponsor and any Related Party of the Issuer and Sponsor shall be excluded.

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Majority Debenture Holders means, subject to the Coordination Agreement, the Debenture Holders holding an aggregate amount representing not less than 51% (fifty one percent) or such other higher percentage as required under Law, of the value of the aggregate principal amount of all Debentures outstanding from time to time, and for items specifically mentioned to be governed as such in the Coordination Agreement, subject to Applicable Laws (including SEBI Regulations), Group Issuers Majority Debenture Holders.

Majority Debenture Holders means such number of Debenture Holders collectively holding not less than 75% (seventy-five per cent) of the nominal value of the Debentures then outstanding which have the same International Securities Identification Number (“ISIN”). It is clarified that the ‘majority’ shall be determined as majority of Debenture Holders under each respective ISIN. “Majority Resolution” has the meaning ascribed to such term in paragraph 40 of Schedule 2 (Provisions for Meetings of Debenture Holders).

Examples of Majority Debenture Holders in a sentence

• The Company shall be at liberty at any time during the continuance of these presents, with the prior permission in writing of the Trustee (acting on Majority Debenture Holders approval/instructions), to withdraw any of the Secured Assets from such of the trusts, powers and provisions hereof as exclusively relate to the Secured Assets upon substituting other property whether of the same or greater than the value of the property proposed to be withdrawn.

• The Company shall not be permitted to assign or transfer any of its rights, liabilities and/or obligations under this Deed or under any other Transaction Documents unless approved by the Debenture Trustee and/or Majority Debenture Holders.

• The Debenture Trustee may at any time, after giving 30 (thirty) Business Days prior written notice to the Company and Debenture Holders resign as the Debenture Trustee, provided that it shall continue to act as the Debenture Trustee until a successor trustee acceptable to the Debenture Holders is appointed by way of a resolution duly passed at the meeting of the Debenture Holders which secures a vote of the Majority Debenture Holders.

• Occurrence of any event or series of events, whether related or not, (including any change in law, etc.) which in the opinion of the Debenture Trustee or the Majority Debenture Holders is likely to have a Material Adverse Effect.

• For the consideration aforesaid, the Company shall within such period as may be permitted by the Trustee, furnish to the Trustee additional security, if the Trustee (acting on the instructions of the Majority Debenture Holders) is of the opinion that during the subsistence of the Debentures, the Security for the Debentures has become inadequate and the Trustee has, accordingly, called upon the Company to furnish such additional security.

More Definitions of Majority Debenture Holders

Majority Debenture Holders means the Debenture Holder(s) holding an aggregate amount representing not less than 51% (Fifty One Percent) of the outstanding value of the Debentures under this Deed at such time. It is however clarified that if a resolution is required to be passed in relation to a matter concerning a particular Tranche/series only, then the term “Majority Debenture Holder(s)” shall mean the Debenture Holder(s) of that Tranche/series holding an aggregate amount representing not less than 51% (Fifty One Percent) of the value of the nominal amount of the Debentures comprised in that Tranche for the time being outstanding;

Majority Debenture Holders shall, with respect to a particular series / tranche of Debentures mean, the Debenture Holders of an amount representing not less than three-fourth in value of the nominal amount then outstanding of such series / tranche of Debentures;

Majority Debenture Holders means Debenture Holder(s) holding an aggregate amount representing not less than 51% (Fifty One Percent) of the value of the nominal amount of the Debentures for the time being outstanding;

Majority Debenture Holders means, with respect to each Series of Debentures, the Debenture Holder(s) holding an aggregate amount representing not less than 75% (Seventy-Five percent) of the outstanding value of the Debentures under such Series, for the time being outstanding;

Majority Debenture Holders means Debenture Holder(s) holding an aggregate amount representing not less than 75% (Seventy Five Percent) of the value of the nominal amount of the Debentures for the time being outstanding;

Majority Debenture Holders means such number of Debenture Holders collectively holding more than 50% (fifty percent) of the value of the Outstanding Principal Amounts of the Debentures.

Majority Debenture Holders means Debenture Holder(s) whose dues, either individually or collectively aggregate, at the relevant point of time, to atleast 75% (Seventy Five per cent) of the outstanding principal amount; it is however clarified that, if a resolution is required to be passed in relation to a matter concerning a particular STRPP, the term “Majority Debenture Holders” shall mean the Debenture Holder(s) whose dues, either individually or collectively aggregate, at the relevant point of time, to atleast 75% (Seventy Five per cent) of the outstanding principal amount of that STRPP;