New Second Lien Lenders definition
Examples of New Second Lien Lenders in a sentence
For the avoidance of doubt, any provision of this Term Sheet that requires the consent of the “New First Lien Lenders” will require the consent of (a) a majority of the New Senior Notes Lenders and (b) a majority of the New Second Lien Lenders (if applicable).
Each scheduled payment by the Borrower on account of principal of and interest on New Second Lien Loans shall be made pro rata according to the respective outstanding principal amounts of New Second Lien Loans held by New Second Lien Lenders.
Requisite Lenders shall require both (a) New First Lien Lenders holding at least a majority of the funded loans and commitments under the Refinancing Facility held by the New Senior Notes Lenders and (b) New First Lien Lenders holding at least a majority of the funded loans and commitments under the Refinancing Facility held by the New Second Lien Lenders (if applicable) (the “Requisite Lenders”).