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 66⅔ 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 Security Agent (acting on instructions of the relevant Majority Senior Creditors) may cease any such enforcement at any time.

• Unless the Majority Senior Creditors have agreed to the Amendment in writing, no Obligor or Junior Creditor will Amend the terms of the Junior Loan Agreement in a manner or to an extent such that the interests of any of the Secured Parties or the ranking and/or subordination arrangements provided for in this Deed are reasonably likely to be materially and adversely affected.

• If the Transaction Security is being enforced pursuant to Clause 9.1 (Enforcement instructions), the Security Agent shall enforce the Transaction Security in such manner (including, without limitation, the selection of any administrator (or any analogous officer in any jurisdiction) of any Debtor to be appointed by the Security Agent) as the Majority Senior Creditors shall instruct or, in the absence of any such instructions, as the Security Agent considers in its discretion to be appropriate.

• Failing this, the Majority Senior Creditors may appoint another agent for this purpose.

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, 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 ascribed to such term in the Intercreditor Agreement.

Majority Senior Creditors means the “Majority Lenders” as defined in the Senior Facility Agreement provided that if, at the relevant time, any Senior Lender (of Affiliate of it) is also a Hedging Bank then, for the purposes of calculating voting rights under this Agreement:

Majority Senior Creditors means the Majority Banks as defined in the Senior Facilities Agreement, provided that if, at the relevant time, any Bank (as defined therein) is also a Hedging Lender, for the purposes only of calculating voting rights under this Deed in accordance with this definition, the Total Commitments under the Senior Facilities Agreement will be notionally increased by an aggregate amount equal to the aggregate of the Settlement Amounts (being a positive number), if any, which would be payable to the Hedging Lenders under the Hedging Documents were the date on which the calculation is made deemed to be an Early Termination Date for which any Obligor is the Defaulting Party (and for this purpose "SETTLEMENT AMOUNT", "EARLY TERMINATION DATE" and "DEFAULTING PARTY" shall have the meaning ascribed to them in the applicable Hedging Document), such amount to be certified by the relevant Senior Finance Party in reasonable detail (including the quotations obtained in connection therewith) and each Bank which is a Hedging Lender will be deemed to have the aggregate amount of its Commitments increased by the Settlement Amount with respect to the Hedging Documents to which it is party;