Majority Secured Creditors definition

Majority Secured Creditors means, at any time of determination, Credit Agreement Lenders, Prudential Noteholders, 1997 Noteholders and 1998 Noteholders with respect to which the Principal Obligations of the Credit Agreement Obligations, the Prudential Note Obligations, the 1997 Note Obligations and the 1998 Note Obligations attributable to such Persons at such time collectively constitute a majority of the Principal Obligations of the Secured Obligations.
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Majority Secured Creditors means: (i) at least in aggregate 66⅔ per cent. of Total Commitments where the instructions relate to a Special Decision or (ii) greater than in aggregate 50 per cent. of Total Commitments, where the instructions relate to any Ordinary Decision.
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Majority Secured Creditors means Majority Credit Agreement Lenders and Majority Note Holders acting jointly; provided, however, that: (i) if at any time of determination the aggregate principal amount in respect of the Credit Agreement Obligations represent less than 5% of the aggregate principal amount in respect of the Secured Obligations, then the term “Majority Secured Creditors” shall have the meaning given to the term “Majority Note Holders”; and (ii) if at any time of determination the Note Obligations represent less than 5% of the Secured Obligations, then the term “Majority Secured Creditors” shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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Examples of Majority Secured Creditors in a sentence

  • Following such automatic acceleration, the Security Trustee shall enforce the Transaction Security in accordance with the instructions of the Majority Secured Creditors (which might not include the Noteholders) and the proceeds of such enforcement shall be distributed in accordance with the order of payments set out in the Intercreditor Agreement.

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

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

  • Amendments/Waivers and Releases under the Intercreditor Agreement or the Transaction Security Documents No amendments, releases or waivers in respect of the Intercreditor Agreement or in respect of the Transaction Security Documents may be made except with the written agreement of the Majority Secured Creditors and subject to the Entrenched Rights of each Secured Creditor.


More Definitions of Majority Secured Creditors

Majority Secured Creditors means, as of any date, (i) Banks holding a majority of the Bank Outstandings existing on such date, (ii) Synthetic Lease Financers holding a majority of the Synthetic Lease Outstandings existing on such date, (iii) Noteholders holding a majority of the Noteholder Outstandings existing on such date, and (iv) if applicable, the holders of a majority of the Additional Senior Indebtedness Outstandings existing on such date.
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Majority Secured Creditors means, at any time, holders of a majority in aggregate principal amount of the outstanding First Priority Notes and of the outstanding Second Priority Notes and the Required Banks under the Letter of Credit Reimbursement Agreement, in each case at such time.
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Majority Secured Creditors means, at any time, holders of a majority in aggregate principal amount of the outstanding Indebtedness under the Debt Instruments.
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Majority Secured Creditors shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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Majority Secured Creditors shall have the meaning given to the term “Majority Note Holders”; and (ii) if at any time of determination the Note Obligations represent less than 5% of the Secured Obligations, then the term “Majority Secured Creditors” shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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Related to Majority Secured Creditors

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

  • Majority Interest means one or more Members who in the aggregate hold more than 50% of all Membership Shares.

  • Super Majority Lenders means at any time a Lender or group of Lenders whose Commitments aggregate more than 80% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 80% of the Total Commitments immediately prior to that reduction).

  • Secured Creditor means the Trustee, the Margin Loan Provider and the holders of the ETP Securities.

  • Prepetition Secured Parties means the “Secured Parties” under, and as defined in, the Prepetition Credit Agreement, in each case as amended, modified or supplemented through the Petition Date.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Majority Interests Vote means the vote, at a meeting of Holders, of (A) 67% or more of the Interests present or represented at such meeting, if Holders of more than 50% of all Interests are present or represented by proxy, or (B) more than 50% of all Interests, whichever is less.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.

  • Required Secured Parties has the meaning given to it in the Intercreditor Agreement.