Majority Creditor Representatives definition

Majority Creditor Representatives means, at any time and without duplication, Creditor Representatives for Creditors representing a majority of the aggregate Credit Exposure of the Trust Financings Outstanding at such time.
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Examples of Majority Creditor Representatives in a sentence

  • The Majority Creditor Representatives may remove the Master Collateral Agent by so notifying the Master Collateral Agent in writing and may appoint a successor Master Collateral Agent (so long as no Servicer Termination Event or Event of Default exists at such time, with the consent of the Trust, such consent not to be unreasonably withheld, delayed or conditioned).

  • If a Servicer Termination Event occurs and is continuing, the Master Collateral Agent, if directed to do so by the Majority Creditor Representatives, and in accordance with Section 5.4 of the Master Collateral Agreement, shall remove the Servicer and terminate its rights and obligations under this Agreement and each of the other Series Related Documents by notifying the Servicer, the Trust, the Parent Support Provider, the Owner Trustee and the Creditor Representatives.

  • In accordance with the Master Collateral Agreement, the Majority Creditor Representatives (or, if no Credit Extensions are Outstanding, the Owner Trustee, at the direction of the Class A Certificateholder), may direct the Master Collateral Agent to waive a Servicer Termination Event, except with respect to a failure to make required deposits to or payment from any of the Trust Accounts, and the consequences thereof.

  • For any amendment to this Agreement or any other Transaction Document or other Series Related Document requiring the consent of the Creditors or the Majority Creditor Representatives, the Owner Trustee will notify the Creditor Representatives to obtain the consent of the Creditors and follow its reasonable procedures to obtain consent.

  • Following the resignation or removal of the Administrator, the Trust, at the direction of the Majority Creditor Representatives, will engage a successor Administrator.

  • If the Trust does not receive direction from the Majority Creditor Representatives within a reasonable period of time, the Trust may engage a successor Administrator.

  • No such direction from the Majority Creditor Representatives is required if the successor Administrator is the Successor Servicer.

Related to Majority Creditor Representatives

  • Creditor Representative means, with respect to Series 2021-1, the Indenture Trustee.

  • Senior Representative means, with respect to any series of Indebtedness, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Indebtedness is issued, incurred or otherwise obtained, as the case may be, and each of their successors in such capacities.

  • Lender Group Representatives has the meaning specified therefor in Section 17.9 of the Agreement.

  • Investor Representative has the meaning assigned to such term in Section 2.1(a).

  • Junior Representative means, with respect to any series of Permitted Junior Debt, the trustee, administrative agent, collateral agent, security agent or similar agent under the indenture or agreement pursuant to which such Permitted Junior Debt is issued, incurred or otherwise obtained and each of their successors in such capacities.

  • Majority Lenders means a Lender or Lenders whose Commitments aggregate more than sixty six and two thirds per cent (66 2/3%) of the aggregate of all the Commitments.

  • Super Majority Lenders means a Lender or Lenders whose Revolving Facility Commitments aggregate more than eighty five per cent. (85%) of the Total Facility Commitments (or, if the Total Facility Commitments have been reduced to zero, aggregated more than eighty five per cent. (85%) of the Total Facility Commitments immediately prior to that reduction).

  • Second Lien Agent means the “Agent” under and as defined in the Second Lien Credit Agreement.

  • Supermajority Lenders means, at any time, Lenders having Credit Exposure and unused Commitments representing at least 66 2/3% of the sum of the total Credit Exposure and unused Commitments at such time.

  • Requisite Lenders means Lenders having (a) more than 50% of the Commitments of all Lenders, or (b) if the Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Loans.

  • Majority Banks means at any time Banks holding more than 50% of the Commitments, or if the Commitments have been terminated, Banks holding more than 50% of the then aggregate unpaid principal amount of the Advances.

  • Designated Senior Representative means (i) if at any time there is only one Senior Representative for a Senior Facility with respect to which the Discharge of Senior Obligations has not occurred, such Senior Representative and (ii) at any time when clause (i) does not apply, the Applicable Authorized Representative (as defined in the First Lien Intercreditor Agreement) at such time.

  • Senior Lenders means each of the lenders from time to time under the Senior Credit Agreement.

  • Majority Revolving Lenders at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time)); provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Controlling Noteholder Representative shall have the meaning assigned to such term in Section 6(a).

  • First Lien Agent has the meaning given to such term in the Intercreditor Agreement.

  • Second Priority Representative means (i) in the case of the Initial Second Priority Debt Facility covered hereby, the Initial Second Priority Representative and (ii) in the case of any Second Priority Debt Facility and the Second Priority Debt Parties thereunder the trustee, administrative agent, collateral agent, security agent or similar agent under such Second Priority Debt Facility that is named as the Representative in respect of such Second Priority Debt Facility in the applicable Joinder Agreement.

  • Supermajority Banks means Banks having more than 75% of the sum of the Aggregate Commitments or, after the Revolving Credit Termination Date, more than 75% of the aggregate Revolving Loans outstanding (including funded participating interests in Swingline Loans).

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • DIP Agent means the administrative agent for the DIP Lenders as defined in the DIP Credit Agreement.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Super Majority Banks means at any time Banks having at least 85% of the aggregate amount of the Commitments or, if the Commitments shall have been terminated, holding Notes evidencing at least 85% of the aggregate unpaid principal amount of the Loans.

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • Note Holder Representative means a Controlling Note Holder Representative or a Non-Controlling Note Holder Representative, as applicable.

  • Required Lenders means, at any time, Lenders having Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time.