Required Secured Debtholders definition

Required Secured Debtholders means, at any time, the holders of more than 50% of the sum of (as determined by the Secured Representatives):

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Required Secured Debtholders means, at any time, the holders of a majority in aggregate outstanding principal amount of all Secured Debt then outstanding and unfunded letters of credit or credit commitments which, if funded, would constitute outstanding Secured Debt, voting together as a single class. For this purpose only, Secured Debt registered in the name of, or beneficially owned by, the Company or any of its Subsidiaries shall be deemed not to be outstanding. "Responsible Officer," when used with respect to the Trustee, means any officer within the Corporate Trust Administration of the Trustee (or any successor group of the Trustee) or any other officer of the Trustee customarily performing functions similar to those performed by any of the above designated officers and also means, with respect to a particular corporate trust matter, any other officer to whom such matter is referred because of his knowledge of and familiarity with the particular subject.

Examples of Required Secured Debtholders in a sentence

Upon any such resignation or removal, a successor Collateral Agent may be appointed by an Act of Required Secured Debtholders; provided that, so long as no Secured Debt Default has occurred and is continuing, such successor Collateral Agent shall be reasonably acceptable to the Company.
Each of the Secured Parties hereby authorizes the Collateral Agent to take action pursuant to the Intercreditor Agreement as directed by an Act of Required Secured Debtholders.
The Collateral Agent will not be required to inquire as to the occurrence or absence of any Triggering Event and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Triggering Event unless and until it is directed by an Act of Required Secured Debtholders pursuant to the requirements of this Agreement.
The Company shall ensure proper maintenance of all odor mitigation equipment to ensure maximum efficiency.
Notwithstanding anything to the contrary contained in this Agreement and without limiting the rights of the Required Secured Debtholders to act as provided above, at any time while a payment default has occurred and is continuing with respect to any Series of Secured Debt following the final maturity thereof, the acceleration by the holders of such Series of Secured Debt of the maturity of all then outstanding Secured Obligations in respect thereof or the termination by ▇.
It is expressly understood and acknowledged that the Collateral Agent shall have no duty to act, consent or request any action of the Company, the Grantors or any other Person in connection with this Agreement unless the Collateral Agent shall have received written direction from an Act of Required Secured Debtholders.
The Collateral Agent has accepted and is bound by the Security Documents executed by the Collateral Agent as of the date of this Agreement and, as directed by an Act of Required Secured Debtholders, the Collateral Agent shall execute additional Security Documents delivered to it after the date of this Agreement; provided, however, that such additional Security Documents do not adversely affect the rights, privileges, benefits and immunities of the Collateral Agent.
Unless it has been directed to the contrary by the Required Secured Debtholders, the Collateral Agent in any event may (but shall not be obligated to) take or refrain from taking such action with respect to such Actionable Default as it may deem advisable and in the best interest of the Secured Debtholders.
Upon any such resignation or removal, a successor Collateral Trustee may be appointed by an Act of Required Secured Debtholders; provided that, so long as no Secured Debt Default has occurred and is continuing, such successor Collateral Trustee shall be reasonably acceptable to the Issuers.
As to any matter not expressly provided for by this Agreement or the other Security Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Required Secured Debtholders and will be fully protected if it does so, and any action taken, suffered or omitted pursuant to hereto or thereto shall be binding on all holders of Secured Obligations.

More Definitions of Required Secured Debtholders

Required Secured Debtholders means, at any time, the holders of a majority in aggregate outstanding principal amount of all Notes and Permitted Additional Pari Passu Obligations then outstanding (including any unfunded letters of credit or credit commitments which, if funded, would constitute outstanding Permitted Additional Pari Passu Obligations), voting together as a single class; provided that, for this purpose, Notes and Permitted Additional Pari Passu Obligations registered in the name of, or beneficially owned by, the Issuers, any of the Guarantors (as defined in the Indenture) or any of their Subsidiaries shall be deemed not to be outstanding.

Required Secured Debtholders with respect to the J. ▇▇▇▇ ▇▇▇▇▇ Agreement for purposes of determining “Required Secured Debtholders”.

Required Secured Debtholders means, at any time, Secured Debtholders then holding a majority in aggregate outstanding principal amount of Revolving Loans, L/C Obligations and Notes then outstanding, voting as a single class. For this purpose only, Revolving Loans and Notes registered in the name of, or beneficially owned by, the Company or any Affiliate of the Company shall be deemed not to be outstanding. For purposes of calculating the aggregate outstanding principal amount of Revolving Loans, L/C Obligations and Notes, the Administrative Agent shall convert the outstanding principal amount of Revolving Loans and L/C Obligations from C$ to US$ using the conversion rate published in The Wall Street Journal under the heading “Key Currency Cross Rates” (for the previous Business Day) on the day on which the Administrative Agent makes such calculation. If such conversion rate shall not be published in The Wall Street Journal, the Administrative Agent shall use any other generally accepted source for such conversion rate, as determined by it acting reasonably.

Required Secured Debtholders means, at any time, the Secured Debtholders entitled to vote under their respective Secured Debt Documents representing more than 50% of the aggregate outstanding amount of the Secured Debt (excluding, for purposes of Sections 2.02, and 2.03 hereof, Secured Debt arising in connection with any Hedging Obligations) then outstanding (together with, in the case of any Additional Secured Debt (other than in connection with any exercise of remedies) the aggregate unfunded commitments to extend credit which, when funded, would constitute Secured Debt), voting as a single class. For purposes of this definition, Secured Debt (including, if applicable, any such unfunded commitments in respect thereof) registered in the name of, or beneficially owned by, the Company or any Affiliate of the Company shall be deemed not to be outstanding.

Required Secured Debtholders has the meaning given to it in the Security Documents.