Second Lien Creditors definition

Second Lien Creditors means, at any relevant time, the holders of Second-Lien Obligations at such time, including without limitation the Second-Lien Lenders, the Second-Lien Collateral Agent, the Second-Lien Administrative Agent and any other agents and arrangers under the Second-Lien Credit Agreement.

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Second Lien Creditors means the Trustee, the Collateral Agent, each Holder of Notes, the beneficiaries of each indemnification obligation under this Indenture, the Notes and the Security Documents, and any successor or transferee of any of the foregoing.

Second Lien Creditors as defined in the recitals hereto.

Examples of Second Lien Creditors in a sentence

Upon the occurrence of: (a) the acceleration of the First Lien Obligations; or (b) the commencement of any Insolvency Proceedings, then, the Second Lien Creditors shall have 45 days after receiving written notice of any such occurrence to unconditionally and irrevocably purchase in full in cash all (but not less than all) of the First Lien Obligations at par (including, without limitation, any accrued and unpaid interest and fees thereon).
The Second Lien Creditors shall irrevocably constitute and appoint the Agent as its true and lawful attorney, with full power of substitution, to take any action or step which it is required to take herein in the name of the applicable Second Lien Creditors whenever and wherever the Second Lien Creditors fail to take any action required hereunder, and such appointment of the Agent as the Second Lien Creditors’ attorney shall be coupled with an interest and be irrevocable.
The Second Lien Collateral Agent ( on behalf of the Second Lien Creditors) promptly shall execute and deliver to the Agent, the Borrowers or such Material Subsidiary such financing change statements, releases and other documents as the Agent, a Borrower or such Material Subsidiary may request to effectively confirm such release.
In the event of any Insolvency Proceedings the First Lien Secured Parties shall first be entitled to receive from the proceeds of the Collateral indefeasible payment in full of the First Lien Obligations in cash before the Second Lien Creditors shall be entitled to receive and retain any payment or distribution on account of the Second Lien Obligations or Second Lien Rights from proceeds of the Collateral.
Each Second Lien Creditor agrees that the grants of Security Interests on the Collateral pursuant to the First Lien Security and the Second Lien Security constitute two separate and distinct grants of Security Interests, that the First Lien Secured Parties and the Second Lien Creditors do not share a “commonality of interest” with respect to their claims, and that the Second Lien Creditors will not object to any such classification.

More Definitions of Second Lien Creditors

Second Lien Creditors means the Holders of Second Lien Notes.

Second Lien Creditors means, collectively, the lenders (including holders of any bonds, debentures, notes or other evidence of indebtedness under any Second Lien Financing Agreement), and any administrative or collateral agents or trustees from time to time under any Second Lien Financing Agreement, and includes any replacements thereof in connection with secured Junior Refinancing Debt.

Second Lien Creditors shall have the meaning provided in the recitals to this Agreement.

Second Lien Creditors shall have the meaning assigned to that term in the Intercreditor Agreement.

Second Lien Creditors means, collectively, the Notes Secured Parties and the Pari Passu Indebtedness Secured Parties.

Second Lien Creditors means the Second Lien Agent and the holders and/or lenders from time to time of (or in respect of) the Second Lien Notes.

Second Lien Creditors means the Second Lien Lenders and the Second Lien Noteholders.