Majority Senior Creditors definition

Majority Senior Creditors means, at any time, those Senior Creditors whose Senior Credit Participations at that time aggregate more than 50% of the total Senior Credit Participations at that time.

Majority Senior Creditors means, at any time, those Senior Creditors whose Senior Credit Participations at that time aggregate more than 50 per cent. of the total Senior Credit Participations at that time.

Majority Senior Creditors means the Majority Lenders as defined in the Senior Facility Agreement provided that if, at the relevant time, any Lender (or Affiliate of it) is also a Hedging Bank then, for the purposes of calculating voting rights under this Deed, the Total Commitments under the Senior Facility Agreement will be notionally increased by an aggregate amount calculated in accordance with Schedule 6 (Calculation of Hedging Debt) with respect to each such Lender’s (or its Affiliate’s) interest in the Hedging Debt and each Lender which is a Hedging Bank (or whose Affiliate is a Hedging Bank) will be deemed to have the aggregate amount of its Commitments increased by the amount calculated in accordance with Schedule 6 (Calculation of Hedging Debt) with respect to the outstanding Hedging Debt owed to it.

Examples of Majority Senior Creditors in a sentence

• The Bonds Agent shall, based on such results, determine the decision of the Collective Majority Senior Creditors and act as the Senior Representative if not replaced with another representative appointed by the Collective Majority Senior Creditors.

• The Bonds Agent shall represent all Bondholders and act on the instructions of and on behalf of the Bondholders unless the New Debt is larger than the debt outstanding under Bonds in which case the Bonds Agent or another representative selected by the Collective Majority Senior Creditors shall represent all the Senior Creditors and act on the instructions of the Collective Majority Senior Creditors and on behalf of all the Senior Creditors.

• The Collective Majority Senior Creditors may, if requested by more than10.00 per cent.

• The Bonds Agent shall represent all Bondholders and act on the instructions of and on behalf of the Bondholders unless the New Debt is larger than the debt outstanding under the Bonds in which case the Bonds Agent or another representative selected by the Collective Majority Senior Creditors shall represent all the Senior Creditors and act on the instructions of the Collective Majority Senior Creditors and on behalf of all the Senior Creditors.

• The Collective Majority Senior Creditors may, if requested by more than 10 per cent.

More Definitions of Majority Senior Creditors

Majority Senior Creditors means Senior Creditors whose Voting Entitlements as at the relevant Decision Date (as defined in the Intercreditor Agreement) together aggregate at least 66.67% (sixty six point sixty seven per cent.) of:

Majority Senior Creditors means the Majority Lenders as defined in the Senior Secured Term Loan Facility or as that or an equivalent term may be defined in the Designated Senior Finance Documents. Party means a party to this Agreement.

Majority Senior Creditors means, at any time, Senior Finance Parties whose Senior Credit Participations at that time aggregate more than 662/3 per cent. of the total Senior Credit Participations at that time;

Majority Senior Creditors means, prior to the Final Discharge Date, Senior Lenders and Hedge Counterparties whose Commitments (determined in respect of the Hedge Counterparties as provided in Clause 14.3(b) (Loss sharing)), aggregate to more than 66 2/3% of the aggregate Total Commitments under (and as defined in) the Senior Facilities Agreement (or, if such Commitments have been reduced to zero, Senior Lenders or, as the case may be, Hedge Counterparties whose Commitments (determined as aforesaid) aggregated to more than 66 2/3% of the aggregate Total Commitments (defined and determined as aforesaid) prior to that reduction).

Majority Senior Creditors has the meaning given to it in the Intercreditor Agreement.

Majority Senior Creditors has the meaning given to that term in the Intercreditor Agreement.

Majority Senior Creditors means the Majority Lenders under the Senior Facilities Agreement, as adjusted as provided in the Intercreditor Agreement or, to the extent applicable, any Additional Intercreditor Agreement to provide voting rights to hedging banks.