Required First Lien Claimholders means (a) at all times prior to the occurrence of the Discharge of First Lien Obligations (other than the First Lien Other Obligations), the First Lien Claimholders holding more than 50% of the sum of (i) the aggregate outstanding principal amount of First Lien Obligations (including participations in the face amount of the First Lien Letters of Credit and any disbursements thereunder that have not been reimbursed, but excluding the First Lien Other Obligations) plus (ii) the aggregate unfunded commitments to extend credit which, when funded, would constitute First Lien Obligations (other than the First Lien Other Obligations), and (b) at all times following the occurrence of the Discharge of First Lien Obligations (other than the First Lien Other Obligations), the First Lien Claimholders holding more than 50% of the sum of (i) the then outstanding First Lien Secured Hedging Obligations plus (ii) the then outstanding First Lien Banking Services Obligations; provided that, in the case of both clauses (a) and (b) above, in the event there are separate intercreditor arrangements between the holders of the First Lien Obligations (or their agents), the Required First Lien Claimholders will mean the “Required First Lien Claimholders” (or any similar term) or “Controlling Secured Parties” (or any similar term) as defined in the First Lien Intercreditor Agreement or other documentation providing such separate intercreditor arrangements.

Required First Lien Claimholders means (a) at all times prior to the occurrence of the Discharge of First Lien Obligations (other than the Other Obligations), the First Lien Claimholders holding more than 50% of the sum of (i) the aggregate outstanding principal amount of First Lien Obligations (including outstanding First Lien Letters of Credit that have been issued but not reimbursed and excluding the Other Obligations) plus (ii) the aggregate unfunded commitments to extend credit which, when funded, would constitute First Lien Obligations under the First Lien Documents (other than First Lien Documents with respect to Other Obligations), and (b) at all times following the occurrence of the Discharge of First Lien Obligations (other than the Other Obligations), the First Lien Claimholders holding more than 50% of the sum of (i) the then outstanding Secured Hedging Obligations plus (ii) the then outstanding Banking Services Obligations (determined by the First Lien Collateral Agent in such reasonable manner as is acceptable to it).

Related to Required First Lien Claimholders

First Lien Claimholders means, at any relevant time, the holders of First Lien Obligations at that time, including the First Lien Lenders and the agents under the First Lien Loan Documents.
Second Lien Claimholders means, at any relevant time, the holders of Second Lien Obligations at that time, including the Second Lien Lenders and the agents under the Second Lien Loan Documents.
First Lien Claims means, collectively, Claims against the Debtors arising under the Prepetition Term Loan Agreement.
Claimholders means each of the First Lien Claimholders and the Second Lien Claimholders.
Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Effective Date, among Holdings, the Borrower, the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent and collateral agent.
First Lien Credit Agreement has the meaning set forth in the recitals hereto.
ABL Agent means Bank of America, N.A., acting in its capacity as collateral agent under the ABL Credit Facility, or any successor thereto in such capacity.
Second Lien Agent means the administrative agent and collateral agent under the Second Lien Term Loan Agreement, its successors, assigns, or any replacement agent appointed pursuant to the terms of the Second Lien Term Loan Agreement.
First Lien Agent has the meaning given to such term in the Intercreditor Agreement.
Junior Representative means, with respect to any series of Permitted Junior Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Permitted Junior Debt is issued, incurred or otherwise obtained and each of their successors in such capacities.
Priority Lien Cap means, as of any date, the maximum aggregate principal amount of Indebtedness permitted to be incurred by clause (1) of the definition of Permitted Debt. For purposes of this definition, all letters of credit will be valued at the face amount thereof, whether or not drawn.
Second Lien Collateral Agent means the “Collateral Agent” as defined in the Second Lien Credit Agreement.
Second Priority Representative means (i) in the case of the Initial Second Priority Debt Facility covered hereby, the Initial Second Priority Representative and (ii) in the case of any Second Priority Debt Facility and the Second Priority Debt Parties thereunder the trustee, administrative agent, collateral agent, security agent or similar agent under such Second Priority Debt Facility that is named as the Representative in respect of such Second Priority Debt Facility in the applicable Joinder Agreement.
Senior Representative means, with respect to any series of Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.
First Lien Collateral Agent means the “Collateral Agent” as defined in the First Lien Credit Agreement.
Senior Priority Obligations as defined in the Base Intercreditor Agreement.
Second Lien Collateral Documents means the “Security Documents” or “Collateral Documents” (as defined in the applicable Second Lien Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or pursuant to which any such Lien is perfected.
First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.
Junior Priority Obligations means the Initial Junior Priority Obligations and any Additional Obligations constituting Junior Priority Debt.
ABL Lenders means the “Lenders” under and as defined in the ABL Credit Agreement.
First Lien/Second Lien Intercreditor Agreement means an intercreditor agreement substantially in the form of Exhibit H hereto, or such other customary form reasonably acceptable to the Administrative Agent and the Borrower, in each case, as such document may be amended, restated, supplemented or otherwise modified from time to time.
Senior Creditors means the Senior Agent, the Senior Lenders and any other Person who holds Senior Indebtedness.
Other First Lien Obligations means the “Other First Lien Obligations” as defined in the Collateral Agreement, including any interest accruing after commencement of any bankruptcy or insolvency proceeding with respect to any holder of Other First Lien Obligations whether or not allowed in such proceeding.
ABL Credit Agreement as defined in the recitals hereto.
First Lien Collateral Documents means the “Security Documents” or “Collateral Documents” or similar term (as defined in the applicable First Lien Loan Documents) and any other agreement, document or instrument pursuant to which a Lien is granted securing any First Lien Obligations or pursuant to which any such Lien is perfected.
Senior Lenders means each of the lenders from time to time under the Senior Credit Agreement.

Required First Lien Claimholders definition

Filter & Search

Related Definitions

Related to Required First Lien Claimholders