Majority Pari Passu Creditors definition

Majority Pari Passu Creditors means creditors holding more than 50% of the Notes and certain pari passu Indebtedness, as determined in accordance with the Intercreditor Agreement.

Majority Pari Passu Creditors means, at any time, those Pari Passu Lenders, Pari Passu Noteholders and Pari Passu Hedge Counterparties whose Pari Passu Credit Participations at that time aggregate more than 50 per cent. of the total Pari Passu Credit Participations at that time, provided that, in respect of the Pari Passu Credit Participations relating to a particular Pari Passu Facility Agreement or Pari Passu Note Indenture, if the consent of the proportion of such Pari Passu Debt Creditors required under and in accordance with the Pari Passu Debt Documents relating to that Pari Passu Facility Agreement or Pari Passu Note Indenture in respect of the relevant decision or request for consent is obtained in relation to a particular decision or request for consent (and if the relevant Pari Passu Debt Documents do not specify a voting threshold for a particular matter, the threshold will be a simple majority of the outstanding principal amount under those Pari Passu Debt Documents (excluding any Pari Passu Liabilities owned by a member of the Group or a Sponsor Affiliate)), all of the Pari Passu Lenders or Pari Passu Noteholders (as applicable) in respect of that Pari Passu Facility Agreement or Pari Passu Note Indenture (as applicable) shall be deemed to have given their consent to that decision or request for consent.

Majority Pari Passu Creditors means, at any time, those Pari Passu Lenders and Pari Passu Noteholders whose Pari Passu Credit Participations at that time aggregate at least 50.1 per cent. of the total Pari Passu Credit Participation at that time.

Examples of Majority Pari Passu Creditors in a sentence

• If an Event of Default occurs and is continuing, the Trustee will declare all the Securities to be due and payable immediately if it is instructed to do so by Security Agent, acting on the instructions of a Majority Pari Passu Creditors (as defined in paragraph 13).

• Subject to certain limitations, the Majority Pari Passu Creditors may direct the Trustee in its exercise of any trust or power.

• The Debtors shall not, and shall procure that no other member of the Group will, without the prior consent of the Majority Pari Passu Creditors and Majority Senior Secured Convertible Notes Creditors, enter into any Liabilities Acquisition in respect of the 2029 Notes Liabilities or beneficially own all or any part of the share capital of a company that is a party to a Liabilities Acquisition in respect of the 2029 Notes Liabilities.

• Prior to the Final Discharge Date, the Intra-Group Lenders may not take, accept or receive the benefit of any Security, guarantee, indemnity or other assurance against loss in respect of the Intra-Group Liabilities unless that Security, guarantee, indemnity or other assurance against loss is not prohibited by the Pari Passu Debt Documents or the prior consent of the Majority Pari Passu Creditors and Majority Senior Secured Convertible Notes Creditors is obtained.

• Nevertheless, this is an area in need of priority attention by OCS management.

More Definitions of Majority Pari Passu Creditors

Majority Pari Passu Creditors means, at any time, those Pari Passu Lenders, Pari Passu Noteholders and Pari Passu Hedge Counterparties whose Pari Passu Credit Participations at that time aggregate more than fifty per cent. (50%) of the total Pari Passu Credit Participations at that time.

Majority Pari Passu Creditors means, at any time, those Pari Passu Creditors whose pari passu credit participations at that time aggregate more than fifty per cent. (50.00%) of the total pari passu credit participations at that time (and where the bond trustee shall act (and be considered to act) on behalf of all the pari passu bondholders represented by it regardless of whether all or only the required majority of those pari passu bondholders voted in favour or against the decision to be made by the Majority Pari Passu Creditors under the Intercreditor Agreement at any relevant preceding meeting(s) of those pari passu bondholders).

Majority Pari Passu Creditors means, at any time, those Pari Passu Creditors whose pari passu credit participations at that time in aggregate are more than fifty per cent (50.00%) of the total pari passu credit participations at that time (and where the bond trustee for each bond issue shall act (and be considered to act) on behalf of all the pari passu bondholders in that bond trustee and all their pari passu credit participations in that bond issue regardless of whether all or only the required majority of those pari passu bondholders in that bond issue voted in favour or against the decision to be made by the Majority Pari Passu Creditors under the Intercreditor Agreement at any relevant preceding meeting(s) of the pari passu bondholders).

Majority Pari Passu Creditors means, at any time, those Pari passu Creditors whose Senior Credit Participations at that time aggregate 66⅔ per cent or more (by value) of the total Senior Credit Participations of all Pari passu Creditors at that time, to the extent any such Senior Credit Participations are not deemed to be zero or otherwise reduced pursuant to any relevant provisions of the Finance Documents.

Majority Pari Passu Creditors means, at any time, those Bondholders, represented by the Bond trustee, and New Lenders whose credit participations aggregate more than 50% of the total pari passu senior credit participations (and where all Bonds shall be included or excluded (as the case may be) for calculation purposes in relation to a decision in favour or against of a proposal made by the bondholders' meeting).

Majority Pari Passu Creditors means, at any time, those Pari Passu Bondholders whose Pari Passu Credit Participations at that time aggregate more than 50.00 per cent. of the total Pari Passu Credit Participations at that time (and where each Pari Passu Bond Trustee shall act (and be considered to act) on behalf of all the Pari Passu Bondholders represented by it regardless of whether all or only the required majority of those Pari Passu Bondholders voted in favour or against the decision to be made by the Majority Pari Passu Creditors under this Agreement at any relevant preceding meeting(s) of those Pari Passu Bondholders).

Majority Pari Passu Creditors means, at any time, those Pari Passu Lenders and Pari Passu Noteholders whose Pari Passu Credit Participations at that time aggregate more than 50% of the total Pari Passu Credit Participations at that time. Non-Cash Consideration means consideration in a form other than cash.