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

• Neither the Second Lien Agent nor any other Second Lien Secured Party shall, in an Insolvency Proceeding or otherwise, oppose any sale or disposition of any assets of any Obligor that is supported by the Required First Lien Secured Parties, and the Second Lien Agent and each other Second Lien Secured Party will be deemed to have consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale supported by the Required First Lien Secured Parties and to have released their Liens in such assets.

• In addition, in accordance with a direction of the Required First Lien Secured Parties, The Bank of New York (or any successor thereto) may be removed as Collateral Agent.

• Notwithstanding anything to the contrary contained herein or in any of the other Collateral Documents, with respect to the exercise of any rights or remedies of any of the Secured Parties under any of the Consents and Agreements, the Collateral Agent shall have the sole right to exercise such rights or remedies in accordance with the direction of the Required First Lien Secured Parties.

• Upon any such written request, the Collateral Agent shall seek the consent of the Required First Lien Secured Parties to pursue such action (it being understood that the Collateral Agent shall not be required to advise the Required First Lien Secured Parties to pursue any such action).

• If at any time it is necessary or advisable for any part of the Properties of the Loan Parties to be possessed, owned, operated or managed by any Person (including the Collateral Agent) other than a Loan Party or the Secured Parties, the Required First Lien Secured Parties shall direct the Collateral Agent to appoint an appropriately qualified Person (excluding the Collateral Agent) who they shall designate to possess, own, operate or manage, as the case may be, such part of the Project.

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 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. (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, the holders of more than 50% of the sum of (1) the outstanding principal amount of any then outstanding First Lien Credit Agreement Obligations with respect to such Shared Collateral 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 under Lender Swap Agreements and Bank Products (or similar terms under any Additional First Lien Documents) are not entitled to vote under the Secured Debt Documents for purposes of this definition.

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.

Required First Lien Secured Parties means, at any time, First Lien Secured Parties owed or holding more than 50% of the sum of (without duplication): (a) the Outstanding Amount under the First Lien Credit Agreement at such time; and (b) after the occurrence of an Early Termination Event under any First Lien Commodity Hedge and Power Sale Agreement, the Eligible Hedge Amount thereunder at such time. “Required Rating” means with respect to (a) any Commodity Hedge Counterparty that is described in clause (a)(i) of the definition of “Commodity Hedge Counterparty” either (i) the unsecured senior debt obligations of such Person are rated at least Baa1 by Xxxxx’x and at least BBB+ by S&P or (ii) such Person’s obligations under any applicable Commodity Hedge and Power Sale Agreement are guaranteed by a Person whose unsecured senior debt obligations are rated at least Baa1 by Xxxxx’x and at least BBB+ by S&P and (b) any Commodity Hedge Counterparty described in clause (a)(ii) of the definition of “Commodity Hedge Counterparty” either (i) the unsecured senior debt obligations of such Person are rated at least Baa3 by Xxxxx’x and at least BBB- by S&P or (ii) such Commodity Hedge Counterparty’s obligations under any applicable Commodity Hedge and Power Sale Agreement are guaranteed by a Person whose unsecured senior debt obligations are rated at least Baa3 by Xxxxx’x and at least BBB- by S&P. “Required Second Lien Secured Parties” means, at any time, Second Lien Secured Parties owed or holding more than 50% of the sum of (without duplication), from and after the occurrence of an Early Termination Event under any Second Lien Commodity Hedge and Power Sale Agreement, the Eligible Hedge Amount thereunder.

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: