Majority Initial Consenting Noteholders definition

Majority Initial Consenting Noteholders means Initial Consenting Noteholders that hold in aggregate not less than a majority of the aggregate principal amount of Senior Secured Notes held by all of the Initial Consenting Noteholders at the applicable time;

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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.

Majority Initial Consenting Noteholders means at least two Initial Consenting Noteholders that hold in the aggregate more than 50% of the aggregate principal amount of Notes held by all Initial Consenting Noteholders at the applicable time;

Examples of Majority Initial Consenting Noteholders in a sentence

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.
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.
Documentation The Company and its advisors will work cooperatively with the Majority Initial Consenting Noteholders and the Initial Commitment Parties and their respective advisors to prepare and finalize all Definitive Documents (including, without limitation, all Court documents and the Plan) required to implement the Recapitalization Transaction.
Shareholder Rights Plan The Company, the Initial Commitment Parties and the Majority Initial Consenting Noteholders shall use commercially reasonable efforts to negotiate a customary shareholder rights plan to be adopted by the Company.
Any such termination of the Agreement as to all Parties shall be effective upon the giving of written notice by the Majority Initial Consenting Noteholders in accordance with Section 16(q).
Tax Considerations The Recapitalization Transaction will be structured in a manner acceptable to the Company, the Initial Commitment Parties and the Majority Initial Consenting Noteholders to effectuate the terms and conditions outlined herein in a tax efficient and acceptable manner for the Company, the Initial Commitment Parties and the Majority Initial Consenting Noteholders.

More Definitions of Majority Initial Consenting Noteholders

Majority Initial Consenting Noteholders means Initial Consenting Noteholders holding not less than a majority of the principal amount of the Notes held by all Initial Consenting Noteholders, in each case as communicated to the Applicant by counsel to the Initial Consenting Noteholders, in accordance with section 10.6 hereof.

Majority Initial Consenting Noteholders means Initial Consenting Noteholders who hold in the aggregate not less than 662/3% of the principal amount of Senior Unsecured Notes held by all Initial Consenting Noteholders.

Majority Initial Consenting Noteholders means Initial Consenting Noteholders holding not less than a majority of the principal amount of the Notes held by all Initial Consenting Noteholders as at the time that any agreement, waiver, consent or approval is sought or required, as the case may be, and in each case as communicated to the Applicants by counsel to the Initial Consenting Noteholders in accordance with Section 10.6.