Majority Secured Creditors definition

Majority Secured Creditors means, at any time of determination, Credit Agreement Lenders and Prudential Noteholders with respect to which the Principal Obligations of the Credit Agreement Obligations and the Prudential Note Obligations attributable to such Persons at such time collectively constitute a majority of the Principal Obligations of the Secured Obligations.
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Majority Secured Creditors means: (i) at least in aggregate 66⅔ per cent. of Total Commitments where the instructions relate to a Special Decision or (ii) greater than in aggregate 50 per cent. of Total Commitments, where the instructions relate to any Ordinary Decision.
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Majority Secured Creditors means, at any time, holders of a majority in aggregate principal amount of the outstanding Indebtedness under the Debt Instruments.
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Examples of Majority Secured Creditors in a sentence

  • Following such automatic acceleration, the Security Trustee shall enforce the Transaction Security in accordance with the instructions of the Majority Secured Creditors (which might not include the Noteholders) and the proceeds of such enforcement shall be distributed in accordance with the order of payments set out in the Intercreditor Agreement.

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

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

  • Amendments/Waivers and Releases under the Intercreditor Agreement or the Transaction Security Documents No amendments, releases or waivers in respect of the Intercreditor Agreement or in respect of the Transaction Security Documents may be made except with the written agreement of the Majority Secured Creditors and subject to the Entrenched Rights of each Secured Creditor.


More Definitions of Majority Secured Creditors

Majority Secured Creditors means, as of any date, (i) Banks holding a majority of the Bank Outstandings existing on such date, (ii) Synthetic Lease Financers holding a majority of the Synthetic Lease Outstandings existing on such date, (iii) Noteholders holding a majority of the Noteholder Outstandings existing on such date, and (iv) if applicable, the holders of a majority of the Additional Senior Indebtedness Outstandings existing on such date.
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Majority Secured Creditors means, at any time, holders of a majority in aggregate principal amount of the outstanding First Priority Notes and of the outstanding Second Priority Notes and the Required Banks under the Letter of Credit Reimbursement Agreement, in each case at such time.
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Majority Secured Creditors means Majority Credit Agreement Lenders and Majority Note Holders acting jointly; provided, however, that: (i) if at any time of determination the aggregate principal amount in respect of the Credit Agreement Obligations represent less than 5% of the aggregate principal amount in respect of the Secured Obligations, then the term “Majority Secured Creditors” shall have the meaning given to the term “Majority Note Holders”; and (ii) if at any time of determination the Note Obligations represent less than 5% of the Secured Obligations, then the term “Majority Secured Creditors” shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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Majority Secured Creditors shall have the meaning given to the term “Majority Note Holders”; and (ii) if at any time of determination the Note Obligations represent less than 5% of the Secured Obligations, then the term “Majority Secured Creditors” shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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Majority Secured Creditors shall have the meaning given to the term “Majority Credit Agreement Lenders.”
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Related to Majority Secured Creditors

  • Required Secured Creditors means (i) at any time when any Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations.

  • Secured Creditors shall have the meaning assigned that term in the respective Security Documents.

  • Second Priority Secured Parties means the Second Priority Representative, the Second Priority Creditors and any other holders of the Second Priority Obligations.

  • First Priority Secured Parties means, with respect to each Type of Common Collateral, the First Priority Representative and the holders of the First Priority Obligations.

  • Unsecured Creditors means all Creditors with Concurrent Claims against the Company;

  • Senior Secured Parties means the Credit Agreement Secured Parties and any Additional Senior Debt Parties.

  • Majority Interest means one or more Members who in the aggregate hold more than 50% of all Membership Shares.

  • Super Majority Lenders means at any time a Lender or group of Lenders whose Commitments aggregate more than 80% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 80% of the Total Commitments immediately prior to that reduction).

  • Secured Creditor means the Trustee, the Margin Loan Provider and the holders of the ETP Securities.

  • Senior Secured Credit Agreement means that certain Credit Agreement, dated as of September 27, 2018, among the Borrowers, the lenders from time to time party thereto, JPMCB as administrative agent, JPMCB as collateral agent, and the other parties thereto, as amended, restated, amended, restated, extended, supplemented, refinanced or otherwise modified from time to time.

  • Prepetition Secured Parties means the “Secured Parties” under, and as defined in, the Prepetition Credit Agreement, in each case as amended, modified or supplemented through the Petition Date.

  • Second Lien Agent means has the meaning assigned to the term “Administrative Agent” in the Second Lien Credit Agreement.

  • Senior Creditors means, (a) depositors of the Issuer, (b) creditors of the Issuer who are unsubordinated creditors of the Issuer, and (c) creditors of the Issuer whose claims are or are expressed to be subordinated to the claims of other creditors of the Issuer (other than those whose claims are in respect of obligations which constitute, or would but for any applicable limitation on the amount of such capital, constitute, Tier 1 capital or Tier 2 capital or whose claims rank or are expressed to rank pari passu with, or junior to, the claims of holders in respect of the Notes) (whether only in a Winding Up of the Issuer or otherwise);

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Second Priority Representative means (i) in the case of the Initial Second Priority Debt Obligations covered hereby, the Initial Second Priority Representative and (ii) in the case of any other Second Priority Debt Facility, 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.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.

  • Second Lien Secured Parties means the Indenture Second Lien Secured Parties and the Additional Second Lien Secured Parties.

  • Requisite Creditors of any Class shall mean each of (x) with respect to the Credit Document Obligations, the Required Banks and (y) with respect to the Other Obligations, the holders of at least a majority of all obligations outstanding from time to time under the Interest Rate Protection Agreements or Other Hedging Agreements.

  • Second Priority Debt Documents means the Initial Second Priority Debt Documents and, with respect to any series, issue or class of Second Priority Debt, the promissory notes, indentures, Collateral Documents or other operative agreements evidencing or governing such Indebtedness, including the Second Priority Collateral Documents.

  • ABL Secured Parties means “Secured Parties” as defined in the ABL Credit Agreement.

  • Unsecured Creditor means the holder of an Unsecured Claim.

  • Senior Secured Credit Facilities means the revolving credit facility and other credit facilities under the Credit Agreement, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings, refinancings or replacements thereof and any one or more indentures or credit facilities or commercial paper facilities with banks or other institutional lenders or investors that replace, refund, supplement or refinance any part of the loans, notes, other credit facilities or commitments thereunder, including any such replacement, refunding or refinancing facility or indenture that increases the amount borrowable thereunder or alters the maturity thereof (provided that such increase in borrowings is permitted under Section 4.09 hereof) or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, trustee, lender or group of lenders or holders.

  • Required Secured Parties has the meaning given to it in the Intercreditor Agreement.

  • 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.