Third Lien Noteholders definition
Examples of Third Lien Noteholders in a sentence
If the Settlement is not approved in connection with confirmation of the Plan, the Plan (pursuant to its terms) will be automatically deemed modified to exclude: (i) the Third Lien Intercreditor Settlement and (ii) the waiver of (a) the Diminution in Value Claim and (b) the Noteholder Deficiency Claims by the 2012 Credit Facility Lenders, the Second Lien Noteholders, and the Third Lien Noteholders (as applicable).
The Waivers are granted by the Second Lien Noteholders and the Third Lien Noteholders in consideration of the Second Lien Noteholders and Third Lien Noteholders’ willingness to enter into the Third Lien Intercreditor Settlement.
Third Lien Noteholders The holders (collectively, the “Third Lien Noteholders”) of the 12.0% Third Lien Senior Secured Notes Due 2020 issued pursuant to that certain Indenture dated as of May 21, 2015, among Midstates Petroleum Company, Inc.
Except for matters customarily requiring consent of each adversely affected Third Lien Noteholder or each Third Lien Noteholder, as the case may be, the Notes Documentation may be amended by the Third Lien Noteholders holding the majority in principal amount of the Third Lien Notes (the “Required Holders”).
In the event any proceeds of any such transaction are received by Parent or any of its Subsidiaries, Parent or such Subsidiary shall hold such proceeds in trust for the Spinco Third Lien Noteholders and immediately transfer such proceeds, in the form received and free and clear of Liens (other than Liens in favor of the Third Lien Collateral Agent to secure the Spinco Third Lien Obligations), to the Spinco Dispositions Proceeds Account on behalf of the Spinco Third Lien Noteholders.
The Amended Revolving Credit Agreement shall be in form and substance (a) reasonably satisfactory to the Requisite Unsecured Noteholders, and (b) satisfactory to the Requisite Third Lien Noteholders.
The Company reserves the right to reject certain executory contracts and unexpired leases subject to the reasonable consent of the Requisite Third Lien Noteholders.
The Parent Third Lien Noteholders shall have executed and delivered the Parent Third Lien Exchange Agreement in the form annexed hereto as Exhibit M, together with the exhibits and schedules thereto.
Upon the occurrence of the Spinco Proceeds Release Date if the Spinco Proceeds Release Date occurs as described in clause (iii) of the definition thereof (as certified to the Collateral Agent by the Spinco Supermajority Holders), the Net Proceeds shall be distributed on a pro rata basis to the Spinco Third Lien Noteholders on account of the Spinco Third Lien Notes and to the Holders on account of the Notes.
The Spinco Third Lien Noteholders shall have executed and delivered the Spinco Third Lien Exchange Agreement in the form annexed hereto as Exhibit M, together with the exhibits and schedules thereto.