Select Commitment Parties definition

Select Commitment Parties means the funds and/or accounts that are managed, advised or sub- advised by each of Aristeia Capital L.L.C., GLG Partners LP, Saba Capital Management LP, and Whitebox Advisors, LLC or each such Person’s Affiliate(s) that are signatories to the Investment Agreement.

Select Commitment Parties means certain funds and/or accounts holding Unsecured Notes that are managed, advised or sub-advised by Aristeia Capital L.L.C., GLG Partners LP, Saba Capital Management LP and Whitebox Advisors LLC and their respective Affiliates.

Select Commitment Parties has the meaning set forth in the Investment Agreement.

Examples of Select Commitment Parties in a sentence

• The Select Commitment Parties, in their capacity as shareholders of New Seadrill, will have the right to designate for election to the Board/appoint as of the Effective Date one (1) independent director.

• Amendments or modifications to the Registration Rights Agreement, and any waivers under the Registration Rights Agreement, shall require the consent of: (i) Hemen and Centerbridge and (ii) Select Commitment Parties holding 2/3rds of the Registrable Securities held by all Select Commitment Parties.

• Hemen, Centerbridge and the Select Commitment Parties on mutual agreement (with each party’s agreement not to be unreasonably withheld) will have the right to designate for election to the Board/appoint as of the Effective Date two (2) independent directors.

• Amendments or modifications to the Registration Rights Agreement, and any waivers under the Registration Rights Agreement, shall require the consent of: (i) Hemen and Centerbridge, (ii) Select Commitment Parties holding 2/3rds of the Registrable Securities held by all Select Commitment Parties and (iii) holders of a majority of the Registrable Securities held by Barclays and all Ad Hoc Group Parties.

• Hemen, Centerbridge, and the Select Commitment Parties on mutual agreement (with each party’s agreement not to be unreasonably withheld) will have the right to designate for election to the Board/appoint as of the Effective Date one (1) independent director (the “Joint Designee”).

• In addition, Hemen, Centerbridge, and the Select Commitment Parties will consider up to three (3) potential candidates that are recommended as the Joint Designee by the New Commitment Parties.

• With respect to the Joint Designee, Hemen, Centerbridge, and the Select Commitment Parties will provide the New Commitment Parties with three (3) business days advance notice of the proposed Joint Designee such that the New Commitment Parties can advise Hemen, Centerbridge and the Select Commitment Parties of any objection to such proposed Joint Designee, which objection, if any, will be taken into consideration before such proposed Joint Designee is formally designated.

More Definitions of Select Commitment Parties

Select Commitment Parties. Director ” means a person appointed by the Select Commitment Parties to the Board as an Independent Director;