Majority Creditors definition

Majority Creditors has the meaning specified in the Intercreditor Agreement.

Majority Creditors means Creditors under this Agreement holding at least fifty- one percent (51%) of the outstanding Credit owed by the Debtor to all Creditors under this Agreement.

Majority Creditors means, at any time, one or more Lenders, Bilateral Banks and Hedging Banks whose Credit Participations at that time in aggregate are equal to or greater than 662/3% of the total Credit Participations at that time.

Examples of Majority Creditors in a sentence

• The Collateral Agent shall be fully justified in failing or refusing to take action under this Agreement or the Security Documents unless it shall first receive such advice or concurrence of the Majority Creditors as is contemplated by Section 5 hereof and it shall first be indemnified to its reasonable satisfaction by the Creditors against any and all liability and expense which may be incurred by it by reason of taking, continuing to take or refraining from taking any such action.

• As a result, Noteholders can be bound by the process of enforcement that is determined by the Majority Creditors, which may differ from the interests of Noteholders.

• The Common Terms Agreement allows Anglian Water (following a Periodic Review or any material change in the regulation of the water industry in the United Kingdom) to amend any financial ratio contained within the covenants, Trigger Events or Events of Default provided that each Financial Guarantor and the Security Trustee (acting on the instructions of the Majority Creditors) agree and the Rating Requirements have been met.

• The Collateral Agent shall have the right to take such actions, or omit to take such actions, hereunder and under the Security Documents not inconsistent with the written instructions of the Majority Creditors delivered pursuant to Section 5.3 hereof or the terms of this Agreement, including actions the Collateral Agent deems necessary or appropriate to perfect or continue the perfection of the Liens on the Collateral for the benefit of the Creditors.

• On 20th April 2020, the companies announced that the Majority Creditors had voted in favour of the proposed changes.

More Definitions of Majority Creditors

Majority Creditors has the meaning assigned to such term in the Security Agreement.

Majority Creditors means, at any time, prior to a Distress Event occurring, those Creditors whose Credit Participations at that time aggregate more than 50 per cent. of the total Credit Participations at that time and thereafter those Creditors whose Credit Participations at that time aggregate more than 662/3 per cent. of the total Credit Participations at that time.

Majority Creditors means, each of (a) the Required Bank Lenders and (b) the Required Noteholders, each voting as a separate class.

Majority Creditors means, at any time and from time to time, such group of Lenders and Production Payment Termination Fee Holder(s) whose Pro Rata Share hereunder and under the Production Payment Agreement Termination Agreement aggregate at least 51% of the aggregate Pro Rata Share of the Lenders and the Production Payment Termination Fee Holder(s) hereunder and under the Production Payment Agreement Termination Agreement at such time;

Majority Creditors means the Creditor or Creditors that together represent the absolute majority of the principal owed under the Financing.

Majority Creditors means, at any time, a Lender or Lenders whose Credit Participations at that time aggregate more than 66 2/3% of the total Credit Participations at that time.

Majority Creditors means (a) Noteholders holding at least 51% of the aggregate outstanding principal amount of the indebtedness evidenced by the Senior Secured Notes, (b) Revolving Credit Facility Lenders holding at least 51% of the aggregate amount of the Revolving Credit Facility Lender Exposure of all Revolving Credit Facility Lenders and (c) Franchise Loan Facility Participants holding at least 51% of the aggregate amount of the Franchise Loan Facility Participant Exposure of all Franchise Loan Facility Participants, in each case, voting as a separate class.