Major Non-Controlling Authorized Representative means, with respect to any Shared Collateral, the Authorized Representative of the Series of Additional First-Lien Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of First-Lien Obligations with respect to such Shared Collateral.
Major Non-Controlling Authorized Representative means, with respect to any Shared Collateral, (i) at any time when the Credit Agreement Collateral Agent is the Controlling Collateral Agent, the Authorized Representative of the Series of Additional First-Lien Obligations, if any, that constitutes the largest outstanding principal amount of any then outstanding Series of First-Lien Obligations (including the Credit Agreement Obligations) and (ii) at any time when the Notes Collateral Agent is the Controlling Collateral Agent, the Authorized Representative of the Series of Additional First-Lien Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of First-Lien Obligations (other than Credit Agreement Obligations) with respect to such Shared Collateral.
Major Non-Controlling Authorized Representative means, with respect to any Shared Collateral, the Authorized Representative of such Class as the Class of the First Lien Obligations (other than the First Lien Obligations of the same Class as the Class of the Controlling Secured Parties with respect to such Shared Collateral) secured by valid and perfected Liens on such Shared Collateral the aggregate amount of which exceeds the aggregate amount of First Lien Obligations of any other Class (other than the First Lien Obligations of the same Class as the Class of the Controlling Secured Parties with respect to such Shared Collateral) secured by valid and perfected Liens on such Shared Collateral.
Examples of Major Non-Controlling Authorized Representative in a sentence
By their entry into this Agreement, each of the Applicable Authorized Representative, the Major Non-Controlling Authorized Representative, each Additional Authorized Representative, each Non-Controlling Authorized Representative, on behalf of themselves and each holder of Secured Obligations, consents to the foregoing.
Except as expressly set forth herein, none of the Superpriority Credit Agreement Agent or the Major Non-Controlling Authorized Representative shall have any duties or obligations in respect of any of the Collateral, all of such duties and obligations, if any, being subject to and governed by the applicable Secured Credit Documents.
As used in this Agreement, the following terms have the meanings specified below: “Additional First-Lien Collateral Agent” means (x) for so long as the Initial Additional First-Lien Obligations are the only Series of Additional First-Lien Obligations, the Initial Additional Authorized Representative and (y) thereafter, the Major Non-Controlling Authorized Representative.
More Definitions of Major Non-Controlling Authorized Representative
Major Non-Controlling Authorized Representative means the Authorized Representative of the Series of Other First Lien Obligations with an aggregate outstanding principal amount in excess of $25,000,000 that constitutes the largest outstanding principal amount of any then outstanding Series of First Lien Obligations; provided, however, that if there are two outstanding Series of Other First Lien Obligations which have an equal outstanding principal amount, the Series of Other First Lien Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this definition.
Major Non-Controlling Authorized Representative means, with respect to any Shared Collateral, the Authorized Representative of the Series of Additional Pari Passu Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of Additional Pari Passu Obligations with respect to such Shared Collateral.
Major Non-Controlling Authorized Representative means, with respect to any Common Collateral, the Authorized Representative of the Series of Other First-Priority Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of Other First-Priority Obligations with respect to such Common Collateral; provided, however, that if there are two outstanding Series of Other First-Priority Obligations which have an equal outstanding principal amount, the Series of Other First-Priority Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this definition, and if such Series of Other First-Priority Obligations have the same maturity date, the Major Non-Controlling Authorized Representative shall be determined by vote of the holders of such Series of Other First-Priority Obligations constituting a majority of the amount of such Series of Other First-Priority Obligations.
Major Non-Controlling Authorized Representative means, after the date that is the earlier of (x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Authorized Representative of the series of First Lien Indebtedness that constitutes the largest outstanding principal amount of any then outstanding series of First Lien Indebtedness, other than the Senior Credit Facilities, with respect to the Collateral.
Major Non-Controlling Authorized Representative means, with respect to any Collateral, (i) at any time when any of the First Lien Revolving Credit Agreement Collateral Agent, the First Lien Term Loan Collateral Agent, the 3.750% 2025 Secured Notes Collateral Agent, the 4.250% 2025 Secured Notes Collateral Agent, the 2026 Secured Notes Collateral Agent or the Notes Collateral Agent is the Controlling Collateral Agent, the Authorized Representative of the Series of First Lien Obligations, if any, that constitutes the largest outstanding principal amount of any then outstanding Series of First Lien Obligations (including the First Lien Revolving Credit Agreement Obligations, the First Lien Term Loan Obligations, the 3.750% 2025 Secured Notes Obligations, the 4.250% 2025 Secured Notes Obligations, the 2026 Secured Notes Obligations and the Notes Obligations) (provided, however, that if there are two outstanding Series of Additional First Lien Obligations which have an equal outstanding principal amount, the Series of Additional First Lien Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this clause (i)) and (ii) at any time when the Additional First Lien Collateral Agent is the Controlling Collateral Agent, the Authorized Representative of the Series of Additional First Lien Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of First Lien Obligations (other than First Lien Revolving Credit Agreement Obligations, First Lien Term Loan Obligations, the 3.750% 2025 Secured Notes Obligations, the 4.250% 2025 Secured Notes Obligations, the 2026 Secured Notes Obligations and Notes Obligations, if any) with respect to such Shared Collateral (provided, however, that if there are two outstanding Series of Additional First Lien Obligations which have an equal outstanding principal amount, the Series of Additional First Lien Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this clause (ii); provided, further, that if the Notes Collateral Agent is such Major Non-Controlling Authorized Representative it shall act pursuant to instructions from the Holders of a majority of the Notes outstanding). Notwithstanding the foregoing and for the avoidance of doubt, the Controlling Collateral Agent may not also act as the Major Non-Controlling Authorized Representative (unless there is only one Series of First Lien Obligations ou...
Major Non-Controlling Authorized Representative means, with respect to any Collateral, the Authorized Representative of the Class of the Secured Obligations (other than the Secured Obligations of the Controlling Secured Parties) secured by Transaction Liens on such Collateral, the aggregate amount of which exceeds the aggregate amount of Secured Obligations of any other Class (other than the Secured Obligations of the Controlling Secured Parties) secured by Transaction Liens on such Collateral.
Major Non-Controlling Authorized Representative means, with respect to any Shared Collateral, (i) at any time when the First Lien Credit Agreement Collateral Agent is the Controlling Collateral Agent, the Authorized Representative of the Series of Additional First Lien Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of First Lien Obligations (excluding the First Lien Credit Agreement Obligations) with respect to such Shared Collateral and (ii) at any time when the First Lien Credit Agreement Collateral Agent is not the Controlling Collateral Agent, the Authorized Representative of the Series of Additional First Lien Obligations that constitutes the largest outstanding principal amount of any then outstanding Series of First Lien Obligations with respect to such Shared Collateral; provided, however, that if there are two outstanding Series of Additional First Lien Obligations which have an equal outstanding principal amount, the Series of Additional First Lien Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this definition.