Multiple Holder Obligation definition
Multiple Holder Obligation means an Obligation that (i) at the time of the event which constitutes a Restructuring, is held by more than three holders that are not Affiliates of each other and (ii) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation as in effect on the date of such event) at least equal to sixty-six-and-two-thirds is required to consent to the event which constitutes a Restructuring, provided that any Obligation that is a Bond shall be deemed to satisfy the requirement in clause (ii) of this definition.
Multiple Holder Obligation means an Obligation that (i) at the time of the event which constitutes a Restructuring Credit Event is held by more than three holders that are not Affiliates of each other and (ii) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation as in effect on the date of such event) at least equal to sixty-six per cent. and/or two-thirds is required to consent to the event which constitutes a Restructuring Credit Event.
Multiple Holder Obligation means an Obligation that:
Examples of Multiple Holder Obligation in a sentence
Multiple Holder Obligation: Not Applicable Default Requirement: USD 10,000,000 or its equivalent in the relevant Obligation Currency as of the occurrence of the relevant Failure to Pay.
More Definitions of Multiple Holder Obligation
Multiple Holder Obligation means an Obligation that (i) at the time of the event which constitutes a Restructuring Credit Event is held by more than three holders that are not Affiliates of each other and
Multiple Holder Obligation means an Obligation that (i) at the time of the event which would have constituted a Restructuring, assuming such Restructuring was determined by reference to such Obligation, is held by more than three holders that are not affiliates of each other and (ii) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation as in effect on the date of such event) at least equal to sixty-six-and-two-thirds is required to consent to the event which would have constituted a Restructuring Credit Event, assuming such Restructuring was determined by reference to such Obligation; provided that any Obligation that is a Bond shall be deemed to satisfy the foregoing requirement (ii) above;
Multiple Holder Obligation means an Obligation that (i) at the time the Credit Event Notice is delivered, is held by more than three unaffiliated holders and (ii) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation) at least equal to sixty-six-and–two-thirds is required to consent to the event which would otherwise constitute a Restructuring Credit Event.
Multiple Holder Obligation means an Obligation that (a) at the time of the event which constitutes a Restructuring Credit Event is held by more than three holders that are not Affiliates of each other and (b) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation as in effect on the date of such event) at least equal to sixty-six-and-two-thirds is required to consent to the event which constitutes a Restructuring Credit Event.
Multiple Holder Obligation means an Obligation that (i) at the time the Credit Event Notice is delivered, is held by more than three holders that are not Affiliates of each other and (ii) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation) at least equal to sixty- six-and-two-thirds is required to consent to the event which would otherwise constitute a Restructuring Credit Event, provided that (ii) above shall not apply to any Obligations which are Bonds.
Multiple Holder Obligation means an Obligation that (i) at the time of the event which constitutes a Restructuring Knock-out Event is held by more than three holders that are not Affiliates (as defined in the Definitions) of each other and (ii) with respect to which a percentage of holders (determined pursuant to the terms of the Obligation as in effect on the date of such event) at least equal to sixty-six-and-two-thirds is required to consent to the event which constitutes a Restructuring Knock-out Event provided that any Obligation that is a Bond (as defined in the definitions) shall be deemed to satisfy the requirement in Section 4.9(a)(ii). As used in this Condition 6(i), the “Market Value” of an Ordinary Share on the Valuation Date shall mean the Current Market Price (as defined in these Conditions, but with the substitution of (1) references to fifteen consecutive dealing days for the references therein to periods of five consecutive dealing days and (2) references to the said fifteen day period for the references therein to the said five day period) of an Ordinary Share on the Valuation Date. If the Issuer elects to exercise the Share Settlement Option with respect to Bonds, the following provisions shall apply:
Multiple Holder Obligation means an Obligation that (i) at the time of the event which constitutes a Restructuring Credit Event is held by more than three holders that are not Affiliates of each other and (ii) with respect to which a percentage of holders (determined