Majority Secured Parties definition

Majority Secured Parties means any Secured Party or group of Secured Parties holding greater than sixty percent (60%) of the outstanding and unpaid principal of the Notes.

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Majority Secured Parties means at any time, Lenders and Holders whose Loans and Holder Advances outstanding represent at least sixty-six and two thirds percent (66 2/3%) of (a) the aggregate Advances outstanding or (b) to the extent there are no Advances outstanding, the sum of the aggregate Holder Commitments plus the aggregate Lender Commitments.

Majority Secured Parties means at any time, Primary Financing Parties whose Financings outstanding represent at least fifty-one percent (51%) of (a) the aggregate Financings outstanding or (b) to the extent there are no Financings outstanding, the aggregate of the Primary Financing Party Commitments.

Examples of Majority Secured Parties in a sentence

The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Operative Agreements in accordance with a request of the Majority Lenders, the Majority Secured Parties or all Secured Parties, as the case may be, and such and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Notes (or all Secured Parties, as the case may be).
The Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Operative Agreement unless it shall first receive such advice or concurrence of the Majority Lenders, the Majority Secured Parties or all Secured Parties, as the case may be, as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.
Outstanding Holder Advances and outstanding Loans shall each be taken into account for purposes of determining Majority Secured Parties.
In the event the Majority Secured Parties, in accordance with the preceding sentence, shall revoke the Lessee's power and authority to engage in Fuel Management, all rights conferred by the Company to the Lessee pursuant to Section 3 of the Fuel Lease shall be deemed to be automatically reassigned to the Company and the Lessee shall execute such documents and instruments as the Secured Parties shall request to further confirm such assignment.
Upon the occurrence and during the continuance of any Event of Default, at the request of the Majority Secured Parties, Grantor shall deliver all original and other documents evidencing and relating to the performance of labor or service which created such Accounts, including, without limitation, all original orders, invoices and shipping receipts.

More Definitions of Majority Secured Parties

Majority Secured Parties at any time means the Secured Parties holding at least a majority of the aggregate principal amount of the Notes then outstanding, which must include the consent of the Collateral Agent.

Majority Secured Parties means, at any time, those Secured Parties whose Credit Participations at that time aggregate more than 66 2/3% per cent. of the total Credit Participations at that time.

Majority Secured Parties means at any time the Lessor Parties (other than any Defaulting Lessor Party) whose Lessor Advances outstanding represent at least fifty-one percent (51%) of (a) the aggregate Lessor Advances outstanding or (b) to the extent there are no Lessor Advances outstanding, the aggregate Lessor Parties Commitment.

Majority Secured Parties has the meaning set forth in the Security Agreement.

Majority Secured Parties means the holders of greater than 50% of the aggregate principal amount of, and unpaid accrued interest on, the Secured Obligations.

Majority Secured Parties shall have the meaning given to such term in Section 1.1 of the Intercreditor Agreement.

Majority Secured Parties means Lenders, considered as a single class, holding more than 50% of the sum of (a) the aggregate amount of the Revolving Loan Exposures of all Revolving Lenders and (b) the aggregate amount of the Term Loan Exposures of all Term Lenders; provided that for purposes of determining the Majority Secured Parties, any Revolving Loan Exposures and any Term Loan Exposures then owned by the Borrower or its Affiliates shall be disregarded.