Required Senior Creditors definition

Required Senior Creditors means (i) the Required Lenders (or such other Lenders (or number or percentage thereof) as shall be necessary under Section 13.12(a) of the Loan Agreement) at all times prior to the Senior Indebtedness Termination Date, and (ii) the holders of at least a majority of the other outstanding Senior Indebtedness at all times after the Senior Indebtedness Termination Date.

Required Senior Creditors means (i) the Required Lenders (or, to the extent required by Section 13.12 of the Credit Agreement, each of the Lenders) at all times prior to the Credit Document Obligations Termination Date, and (ii) the holders of at least a majority of the outstanding Senior Indebtedness at all times after the Credit Document Obligations Termination Date and prior to the repayment in full, in cash, of all outstanding Obligations with respect to Senior Indebtedness.

Required Senior Creditors means (i) the Required Lenders (or, to the extent required by Section 11.2 of the Credit Agreement, each of the Lenders) at all times prior to the Loan Document Obligations Termination Date, and (ii) the holders of at least a majority of the outstanding Senior Indebtedness at all times after the Loan Document Obligations Termination Date.

Examples of Required Senior Creditors in a sentence

• Unless and until the Discharge of Senior Obligations has occurred, the Senior Agent (acting at the direction of the Required Senior Creditors) shall have the sole and exclusive right, subject to the rights of the Grantors under the Senior Credit Documents, to adjust settlement for any insurance policy covering the Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding (or any deed in lieu of condemnation) affecting the Collateral.

• Such Party shall not pledge, assign, hypothecate, transfer, convey or sell any Subordinated Indebtedness or any interest in any Subordinated Indebtedness to any entity (other than a Party hereto) without the prior written consent of the Administrative Agent (with the prior written consent of the Required Senior Creditors).

• Such Party shall not, without the prior written consent of the Required Senior Creditors (as defined in Section 5 hereof), which consent may be withheld or conditioned in the Required Senior Creditors’ sole discretion, commence, or join or participate in, any Enforcement Action (as defined in Section 5 hereof).

• Subject to the provisions of this Section 7.01, it is hereby agreed that the Designated Senior Representative shall only take, direct or exercise any right or remedy with respect to Shared Collateral on the instructions of the Required Senior Creditors.

• In any case commenced by or against the U.S. Borrower or any of its Subsidiaries under the Bankruptcy Code or any similar federal, foreign, state or local statute (a “ Reorganization Proceeding ”), to the extent permitted by applicable law, the Required Senior Creditors shall have the exclusive right to exercise any voting rights in respect of the claims of such Party against the U.S. Borrower or any of its Subsidiaries.

More Definitions of Required Senior Creditors

Required Senior Creditors means the Required Lenders (or, to the extent required by Section 9.1 of the Second Lien Credit Agreement, each of the Lenders).

Required Senior Creditors means the Required Lenders.

Required Senior Creditors means Senior Secured Parties holding or otherwise representing 331/3% of the Combined Exposure.

Required Senior Creditors means (i) at all times prior to the occurrence of the Discharge of Senior Credit Agreement Obligations, the Required Senior Lenders (or, to the extent required by the Senior Credit Agreement, each of the Senior Lenders), and (ii) at all times after the occurrence of the Discharge of Senior Credit Agreement Obligations, the holders of at least the majority of the then outstanding Other Obligations (determined by the Senior Agent in such reasonable manner as is acceptable to it).

Required Senior Creditors means (i) prior to the First-Lien Loan Obligations Termination Date, the Required First-Lien Lenders and (ii) thereafter, the Required Second-Lien Lenders.

Required Senior Creditors means the holders of greater than 50% of the outstanding principal amount of Senior Obligations, voting as a single class.

Required Senior Creditors means, at any time, those Senior Secured Parties whose aggregate First Lien Obligations Amount at such time represent more than 50% of the aggregate First Lien Obligations Amount of all Senior Secured Parties at such time.