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

  • The Collateral Agent is not authorized in any such proceeding to enter into any agreement for, or give any authorization or consent with respect to, the postpetition usage of Collateral, unless such agreement, authorization or consent has been approved in writing by the Majority Secured Creditors, except as set forth in Section 7.6(c).

  • Upon any such resignation or removal, the Majority Secured Creditors shall have the right to appoint a successor Collateral Agent.

  • 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.

  • The Collateral Agent may resign at any time by giving thirty (30) days’ written notice thereof to the Secured Creditors and may be removed at any time with or without cause by the Majority Secured Creditors.

  • 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.

  • The Collateral Agent shall not be deemed to have knowledge or notice of the occurrence of any Enforcement Event, unless the Collateral Agent shall have received a Notice of Enforcement Event from a Secured Creditor in accordance with Section 2.4. The Collateral Agent shall take such action with respect to such Enforcement Event as may be directed by the Majority Secured Creditors in accordance with Section 3.2 or, if permitted by Section 3.2(a), as may be directed by the Minority Creditor Group.

  • 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.

  • Until the Security Discharge Date, the Security Agent and /or the Majority Secured Creditors shall have the exclusive right to enforce the Shared Security and to give instructions to the Security Agent to do the same, irrespective of whether any event of default or declared default has occurred under any Facility.

  • The Collateral Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any Collateral Document in accordance with a request or consent of the Majority Secured Creditors (or such greater number of Secured Creditors as may be expressly required hereby in any instance or, if permitted by Section 3.2(a), the Minority Creditor Group) and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Secured Creditors.

  • For the avoidance of doubt, the prior written consent of the Majority Secured Creditors is not required by the USPP Noteholders to claim on or enforce the Rhodia Inc.


More Definitions of Majority Secured Creditors

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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Majority Secured Creditors shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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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 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, 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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Related to Majority Secured Creditors

  • Required Secured Creditors means (i) at any time when any Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations.

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

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

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

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • 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.

  • Second Lien Agent has the meaning set forth in the Intercreditor Agreement.

  • 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);

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Second Priority Representative means (i) in the case of the Initial Second Priority Debt Facility covered hereby, the Initial Second Priority Representative and (ii) in the case of any Second Priority Debt Facility and the Second Priority Debt Parties thereunder the trustee, administrative agent, collateral agent, security agent or similar agent under such Second Priority Debt Facility that is named as the Representative in respect of such Second Priority Debt Facility in the applicable Joinder Agreement.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Second Lien Secured Parties means, at any relevant time, the holders of Second Lien Obligations at such time, including without limitation the Second Lien Lenders and the agents under the Second Lien Credit Agreement.

  • Requisite Creditors of any Class shall mean each of (x) with respect to the Credit Document Obligations, the Required Banks and (y) with respect to the Other Obligations, the holders of at least a majority of all obligations outstanding from time to time under the Interest Rate Protection Agreements or Other Hedging Agreements.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • ABL Secured Parties means the ABL Representative, the ABL Creditors and any other holders of the ABL Obligations.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • First Priority Security Documents means each agreement or document granting or purporting to xxxxx x Xxxx on any Common Collateral to secure First Priority Obligations.

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

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

  • Senior Lender Claims means (a) the principal of all Indebtedness outstanding under one or more of the Senior Lender Documents to the extent not prohibited by the Indenture (as in effect on the date hereof), and (b) all other Obligations not constituting principal of Indebtedness of any Obligor under the Senior Lender Documents, including, without limitation, all claims under the Senior Lender Documents for interest, fees, expense reimbursements, indemnification and other similar claims. Senior Lender Claims shall include all interest accrued or accruing (or which would, absent the commencement of an Insolvency or Liquidation Proceeding, accrue) after the commencement of an Insolvency or Liquidation Proceeding in accordance with and at the rate specified in the Senior Credit Agreement whether or not the claim for such interest is allowed as a claim in such Insolvency or Liquidation Proceeding. To the extent any payment with respect to the Senior Lender Claims (whether by or on behalf of any Obligor, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be fraudulent or preferential in any respect, set aside or required to be paid to a debtor in possession, trustee, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall be deemed to be reinstated and outstanding as if such payment had not occurred. Notwithstanding anything to the contrary contained in the first sentence of this definition, any principal Indebtedness (including reimbursement obligations for drawn or undrawn letters of credit) incurred under the Senior Credit Agreement shall constitute a "Senior Lender Claim" (whether or not such Indebtedness is at any time determined not to have been permitted to be incurred under the Indenture), to the extent, after giving effect to such incurrence, the aggregate principal amount of Indebtedness outstanding under the Senior Credit Agreement does not exceed $15,000,000 (less any prior permanent reductions in the Revolving Loan Commitment).

  • Junior Representative means, with respect to any series of Permitted Junior Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Permitted Junior Debt is issued, incurred or otherwise obtained and each of their successors in such capacities.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • Secured Parties means, collectively, the Administrative Agent, the Collateral Agent, the Lenders, the Hedge Banks, the Cash Management Banks, the Supplemental Administrative Agent and each co-agent or sub-agent appointed by the Administrative Agent from time to time pursuant to Section 9.01(c).