Required First Lien Secured Parties definition

Required First Lien Secured Parties has the meaning given that term in Section 4.02(a).

Required First Lien Secured Parties means (i) at all times prior to the occurrence of the Discharge of First-Lien Credit Agreement Obligations, the First-Lien Required Lenders (or, to the extent required by the First-Lien Credit Agreement, each of the First-Lien Lenders), and (ii) at all times after the occurrence of the Discharge of First-Lien Credit Agreement Obligations, the holders of at least a majority of the then outstanding Secured Rate Contract Obligations (determined by the First-Lien Agent in such reasonable manner as is acceptable to it).

Required First Lien Secured Parties means, at any time with respect to any matter, First-Lien Secured Parties owed or holding more than 50% of the sum of (without duplication) (a) subject to any voting restrictions set forth in the applicable Financing Document for a Series of Secured Debt, the Outstanding Amount under the Credit Agreement and/or any Additional First-Lien Indebtedness Agreement at such time and (b) the Eligible Hedge Amount under each Secured Commodity Hedge and each Secured Interest Rate Hedge at such time.

Examples of Required First Lien Secured Parties in a sentence

• In exercising rights and remedies with respect to the Collateral, the Collateral Trustee, at the direction of the Required First-Lien Secured Parties, may enforce the provisions of the Security Documents and exercise remedies thereunder, all in such order and in such manner as it may determine in the exercise of its sole discretion.

• The Collateral Trustee, at the direction of the Required First-Lien Secured Parties, shall have the exclusive right to enforce rights, exercise remedies (including setoff (but subject to Section 5.4(a)) and the right to credit bid any or all of the Obligations) and make determinations regarding the release, sale, disposition or restrictions (including bidding or auction procedures) with respect to the Collateral in accordance with the provisions of this Agreement and the relevant Security Documents.

• Upon any such resignation, the Required First-Lien Secured Parties shall have the right to appoint a successor with, so long as no Event of Default arising from a non-payment by the Borrower or Insolvency or Liquidation Proceeding has occurred and is continuing, the consent of the Borrower (not to be unreasonably withheld or delayed).

• Each First-Lien Secured Party further agrees that it shall not object to any motion, action or proceeding by the Collateral Trustee (acting at the direction of the Required First-Lien Secured Parties) for adequate protection or for relief from the automatic stay or from any other stay in any Insolvency or Liquidation Proceeding or any adequate protection or stay relief granted unless such motion, action, proceeding or relief is in violation of the provisions of this Agreement.

• Such exercise and enforcement shall include the rights of the Collateral Trustee (or any other agent appointed by the Required First-Lien Secured Parties) to sell or otherwise dispose of Collateral upon foreclosure, to incur expenses in connection with such sale or disposition, and to exercise all the rights and remedies of a secured creditor under the UCC and the Security Documents and of a secured creditor under the Debtor Relief Laws.

More Definitions of Required First Lien Secured Parties

Required First Lien Secured Parties or “Special L/C Facility Agreement Outstanding Amount,” set forth in Section 1.1 of the Intercreditor Agreement or (2) amend Section 5.1, 5.3(c) or 5.9(b) of the Intercreditor Agreement;

Required First Lien Secured Parties. (as defined in the Intercreditor Agreement), the Trustee shall vote the entire aggregate principal amount outstanding on the Notes as directed by a majority in principal amount of the Notes then outstanding or such larger percentage expressly required by the terms hereunder.

Required First Lien Secured Parties means, at any time and calculated in accordance with the terms of this Agreement (including Section 9.4 hereof), Secured Parties owed or holding more than 50% of the sum of (without duplication):

Required First Lien Secured Parties means, at any time, the holders of more than 50% of the sum of (1) the aggregate principal amount of any then outstanding First Lien Credit Agreement Obligations entitled to vote pursuant to the applicable Secured Credit Documents; and (2) other than in connection with the exercise of remedies, the aggregate principal amount of unfunded commitments to extend credit which, when funded, would constitute First Lien Credit Agreement Obligations entitled to vote pursuant to the applicable Secured Credit Documents. For purposes of this definition, votes will be determined in accordance with the provisions of Section 5.20. The parties acknowledge that the holders of First Lien Credit Agreement Obligations consisting of Secured Cash Management Obligations, Secured Hedging Obligations and Secured Supply Chain Financing Obligations, solely in their capacities as holders of such obligations, are not entitled to vote under the Secured Credit Documents for purposes of this definition.

Required First Lien Secured Parties means, at any time, the holders or representatives of holders of more than 50% of the sum of:

Required First Lien Secured Parties means, at any time, the holders or representatives of holders of more than Fifty percent (50%) of the sum of:

Required First Lien Secured Parties means (a) for so long as the First Lien Credit Agreement is the sole First Lien Debt Facility in effect, the Required Lenders and (b) from and after such time as the First Lien Credit Agreement is no longer the sole First Lien Debt Facility in effect, (i) so long as First Lien Credit Agreement, any Replacement First Lien Debt Facility or Additional First Lien Debt Facility is in effect, First Lien Secured Parties owed or holding more than 50% of the sum of (A) the total outstanding principal amount of the First Lien Obligations under the First Lien Credit Agreement, any Replacement First Lien Debt Facility then in effect and Additional First Lien Facility then in effect and (B) the aggregate unused commitments to provide extensions of credit under the First Lien Credit Agreement, the Replacement First Lien Debt Facilities then in effect and the Additional First Lien Facilities then in effect and (ii) if none of the First Lien Credit Agreement, Additional First Lien Debt Facility or Replacement First Lien Debt Facility is in effect, Persons owed or holding more than 50% of the sum of the outstanding First Lien Obligations.