Required Consenting First Lien Noteholders definition

Required Consenting First Lien Noteholders means, as of the relevant date, Consenting First Lien Noteholders holding at least 66.67% of the aggregate outstanding principal amount of First Lien Senior Secured Notes that are held by Consenting First Lien Noteholders; provided that Required Consenting First Lien Noteholders must include each of the Beach Point Stakeholders and Brigade Stakeholders.

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Required Consenting First Lien Noteholders means Consenting First Lien Noteholders that are members of the First Lien Ad Hoc Group holding at least a majority in principal amount of the 1L Notes held by the First Lien Noteholders party to this Agreement that are members of the First Lien Ad Hoc Group.

Examples of Required Consenting First Lien Noteholders in a sentence

This Agreement may be terminated in writing by mutual agreement of the Company Entities, the Required Consenting First Lien Noteholders, the Required Consenting 1.5L Noteholders, the Required Consenting Crossholder Noteholders and the Consenting Sponsors (a “Mutual Termination Event”).
Notwithstanding anything to the contrary in this Interim Order, following receipt of a Default Notice, and at any time before or after the occurrence of the Termination Date, including without limitation as a result of a Termination Event pursuant to paragraph 10 of this Interim Order, the Debtors may seek authority to use Cash Collateral without the consent of the [Required Consenting First Lien Noteholders], and the [Consenting First Lien Noteholders] reserve all rights to contest such use.
The conditions to Consummation set forth in this Article IX may be waived by the Debtors with the consent of the Required Consenting First Lien Noteholders, without notice, leave, or order of the Bankruptcy Court or any formal action other than proceedings to confirm or consummate the Plan.
Trustee and Collateral Agent A financial institution selected by the Required Consenting First Lien Noteholders and reasonably acceptable to the Issuer shall act as the trustee and collateral agent under the Exit Secured Notes Indenture (as defined below).
Claims will consent to the Company’s use of cash collateral of the First Lien Senior Secured Noteholders and Second Lien Term Lenders to fund the Chapter 11 Cases on the terms set forth in the Cash Collateral Orders, which shall be in form and substance acceptable to the Company and the Required Consenting First Lien Noteholders and reasonably acceptable to the Required Consenting Second Lien Term Lenders.
Conditions Precedent As set forth on Annex A hereto, subject to any such amendment, modification or waiver thereof as determined or agreed between the Company and the Required Consenting First Lien Noteholders; it being understood that, following the Closing Date, any amendment, modification or waiver of a condition precedent to a Credit Extension shall be determined in accordance with the Exit Facility Documents.
New RCF On the Plan Effective Date, the Company will put in place a new revolving credit facility (the “New RCF”) with capacity and terms substantially consistent with the Revolving Credit Facility and terms acceptable to the Required Consenting First Lien Noteholders and reasonably acceptable to the Required Consenting Second Lien Term Lenders.
This Agreement, and the obligations of all Parties hereunder, may be terminated by mutual written agreement among all of the following: (a) each Company Party; (b) the Required Consenting First Lien Noteholders; and (c) the Required Consenting Unsecured Noteholders.
The Exit Facility Documents implementing this term sheet shall be acceptable to the Required Consenting First Lien Noteholders.
Administrative Agent A financial institution acceptable to the Required Consenting First Lien Noteholders in their reasonable discretion.

More Definitions of Required Consenting First Lien Noteholders

Required Consenting First Lien Noteholders means the Consenting First Lien Noteholders holding a majority in aggregate principal amount of the First Lien Notes held by all Consenting First Lien Noteholders as set forth on the signature page(s) hereto including First Lien Notes covered by any Joinder executed and delivered as of the date of the applicable action or consent.

Required Consenting First Lien Noteholders means, as of the relevant date, Consenting First Lien Noteholders that collectively hold at least a majority of the aggregate outstanding principal amount of First Lien Notes held by all of the Consenting First Lien Noteholders as of such date, which must include no fewer than two members of the First Lien Ad Hoc Group.

Required Consenting First Lien Noteholders means, as of the relevant date, those First Lien Noteholders Group Members holding at least 50.01% of the aggregate principal amount of First Lien Notes Claims held by all First Lien Noteholders Group Members; provided that with respect to any terms or conditions that relate to the implementation or approval of the Secured Creditor Settlement or the treatment and allowance of the First Lien Claims under the Plan (or the Non-TopCo Plan, as applicable), such parties’ consent rights shall be governed by Section 7.02 herein.

Required Consenting First Lien Noteholders means, as of any date of determination, Consenting First Lien Noteholders (comprising not fewer than 3 unaffiliated entities) who collectively own (or have voting control of) a majority of the aggregate outstanding principal amount of First Lien Notes held by all Consenting First Lien Noteholders at such time; provided that for purposes of this definition, the term “Consenting First Lien Noteholders” excludes any Holder of First Lien Notes that, on the relevant date of determination, is in breach of any of its material obligations hereunder.

Required Consenting First Lien Noteholders means Consenting First Lien Noteholders that are members of the First Lien Ad Hoc Group holding at least a majority in