Required Second Lien Debtholders definition
Required Second Lien Debtholders means, at any time, the holders of more than 50% of the sum of (1) the aggregate outstanding principal amount of Second Lien Debt (including outstanding letters of credit (unless fully cash collateralized in accordance with the terms of the relevant Secured Debt Documents, fully supported by a letter of credit satisfactory to the issuer of the letter of credit supported thereby or otherwise supported in a manner satisfactory to the respective issuers thereof) whether or not then available or drawn), and (2) other than in connection with the exercise of remedies, the aggregate unfunded commitments to extend credit which, when funded, would constitute Second Lien Debt. For purposes of this definition, (i) Second Lien Debt registered in the name of, or beneficially owned by, the Company or any Affiliate of the Company will be deemed not to be outstanding and neither the Company nor any Affiliate of the Company will be entitled to vote to direct the relevant Second Lien Debt Representative, and (ii) votes will be determined in accordance with Section 8.2 of the Collateral Agency and Intercreditor Agreement.
Required Second Lien Debtholders means, at any time, the holders of more than 50% of the sum of:
Required Second Lien Debtholders has the meaning assigned to such term in the Collateral Trust and Intercreditor Agreement.
More Definitions of Required Second Lien Debtholders
Required Second Lien Debtholders means, at any time in respect of any action or matter, and calculated in accordance with Section 2.6 and Section 7.22, holders of more than 50% of the sum of (i) the aggregate outstanding principal amount of Second Lien Debt for Borrowed Money (including the face amount of outstanding letters of credit (unless cash collateralized)); (ii) subject to Section 8.2, the aggregate Hedge Capacity Amount under Second Lien Commodity Hedging Agreements that are Capacity Commodity Hedging Agreements; and (iii) other than in connection with the enforcement of remedies or the protection of Liens on the Collateral, the aggregate unfunded commitments to extend credit which, when funded, would constitute Second Lien Debt for Borrowed Money. For this purpose, Second Lien Debt or unfunded commitments in respect thereof (whether pursuant to an Affiliated Credit Agreement or otherwise) registered in the name of, or beneficially owned or committed to by, a Borrower or any Affiliate of a Borrower will be deemed not to be outstanding or constitute unfunded commitments, as applicable, and neither a Borrower nor any such Affiliate shall be entitled to vote hereunder to direct the relevant Second Lien Debt Representative; provided that the foregoing restriction shall not apply if the only Second Lien Debt that is Second Lien Debt for borrowed money outstanding at such time is in respect of an Affiliated Credit Agreement (including as a result of a Borrower or an Affiliate becoming the Second Lien Secured Party in respect of any Second Lien Debt that is Second Lien Debt for borrowed money that was not in respect of an Affiliated Credit Agreement at the time incurred).
Required Second Lien Debtholders. “Required Third Lien Debtholders” or “Controlling Representative”);