Required Second Lien Lenders definition

Required Second Lien Lenders means, at any time, lenders under the Second Lien Agreement having Second Lien Loans representing more than 50% of the sum of all Second Lien Loans at such time.

Required Second Lien Lenders means “Required Lenders” under and as defined in the Second Lien Credit Agreement as in effect on the date hereof.

Required Second Lien Lenders means, at any time, Second Lien Lenders holding at least 51% of the sum of the aggregate unpaid principal amount owing under the Investor Notes outstanding.

Examples of Required Second Lien Lenders in a sentence

• Definitive Documents The material documents implementing the Restructuring (collectively, the “Definitive Documents”) shall be consistent with this Term Sheet and the Restructuring Support Agreement and otherwise acceptable to the Company, the Required First Lien Lenders and, solely with respect to the economic treatment provided on account of the Second Lien Claims, reasonably acceptable to the Required Second Lien Lenders.

• Restructuring Transactions The Confirmation Order will be deemed to authorize, among other things, all actions as may be necessary or appropriate, consistent with the Restructuring Support Agreement, to effect any transaction described in, approved by, contemplated by, or necessary to effectuate the Plan with the consent of the Required First Lien Lenders and, solely with respect to the treatment provided on account of the Second Lien Claims, the Required Second Lien Lenders.

• Plan The Company shall commence the Chapter 11 Cases and shall confirm and consummate a chapter 11 plan of reorganization (the “Plan”), which will be consistent with this Term Sheet and the Restructuring Support Agreement and otherwise acceptable to the Company, the Required First Lien Lenders and, solely with respect to the economic treatment provided on account of the Second Lien Claims, the Required Second Lien Lenders.

• Upon any such resignation by the Second Lien Collateral, the Required Second Lien Lenders shall have the right to appoint a successor Second Lien Collateral Agent.

• Upon receipt of any such notice of resignation, the Required Second Lien Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States of America, or an Affiliate of any such bank with an office in the United States of America.

More Definitions of Required Second Lien Lenders

Required Second Lien Lenders means the Consenting Second Lien Lenders who hold, in the aggregate, at least 66.67% in principal amount outstanding of all Second Lien Claims held by the Consenting Second Lien Lenders (excluding, for the avoidance of doubt, all of the Second Lien Claims held by the Consenting First Lien Lenders and the Sponsor Entities).

Required Second Lien Lenders means, at any time, Second-Lien Lenders holding more than 50% of all Second-Lien Loans at the time; provided that any Defaulting Lender shall be excluded for purposes of making a determination of Required Second-Lien Lenders.

Required Second Lien Lenders means (i) Lenders holding, in the aggregate, outstanding Second Lien Indebtedness representing more than 50% of all outstanding Second Lien Indebtedness and (ii) the Second Lien Administrative Agent.

Required Second Lien Lenders means, collectively, Second Lien Lenders having more than 50% of the aggregate outstanding amount of the Second Lien Commitments or, after the Closing Date, more than 50% of the principal amount of the Second Lien Loans then outstanding. A Defaulting Lender shall not be included in the calculation of “Required Second Lien Lenders”.

Required Second Lien Lenders has the meaning set forth in the Original Credit Agreement.

Required Second Lien Lenders means Lenders holding more than 50% of the aggregate principal amount of the outstanding Loans (without regard to any sale by a Lender of a participation in any Loan under Section 12.05(d)) at such time.

Required Second Lien Lenders means, as of the date of determination, Consenting Second Lien Noteholders holding in excess of 50% of the aggregate principal amount of Second Lien Notes Claims held by all Consenting Second Lien Noteholders.Bankruptcy Court entered an order approving the adequacy of this Disclosure Statement and the Solicitation.19 Furthermore, a hearing for the Bankruptcy Court to consider confirmation of the Plan (the “Confirmation Hearing”) has been scheduled for June 23, 2020 at 10:00 a.m. (prevailing Central Time).20 ARTICLE IV.THE CHAPTER 11 CASES