Required Parity Lien Debtholders definition

Required Parity Lien Debtholders means, at any time, the holders of a majority in aggregate principal amount of all Parity Lien Debt then outstanding, calculated in accordance with the provisions of Section 7.2. For purposes of this definition, Parity Lien Debt registered in the name of, or beneficially owned by, the Company or any Affiliate of the Company will be deemed not to be outstanding.

Required Parity Lien Debtholders means, at any time, the holders of more than 50% of the sum of:

Required Parity Lien Debtholders means, at any time, the holders of a majority in aggregate principal amount of all Parity Lien Debt (including outstanding letters of credit whether or not then available or drawn) then outstanding and the aggregate unfunded commitments to extend credit which, when funded, would constitute Parity Lien Debt, calculated in accordance with the provisions of Section 7.2. For purposes of this definition, Parity Lien Debt registered in the name of, or beneficially owned by, EFIH or any Affiliate of EFIH will be deemed not to be outstanding.

Examples of Required Parity Lien Debtholders in a sentence

• The undersigned holders of Parity Lien Debt hereby confirm this Consent is delivered to the Collateral Trustee by or with the written consent of the holders of Parity Lien Debt representing the Required Parity Lien Debtholders.

• As to any matter not expressly provided for by this Agreement or the other Parity Lien Security Documents, the Collateral Trustee will act or refrain from acting as directed by an Act of Parity Lien Debtholders or the Required Parity Lien Debtholders, as applicable, and will be fully protected if it does so, and any action taken, suffered or omitted pursuant hereto or thereto shall be binding on the Parity Lien Secured Parties.

• The right to purchase provided for in this Section 2.14 will expire unless, within five (5) Business Days after the receipt by the Parity Lien Collateral Agent of such notice from the Priority Lien Agent, the Parity Lien Collateral Agent (acting pursuant to and in accordance with the written instructions of the Required Parity Lien Debtholders) delivers to the Priority Lien Agent an irrevocable commitment of the purchasers to complete the purchase on the terms set forth under this Section 2.14(a).

• The Collateral Agent will not be required to inquire as to the occurrence or absence of any Parity Lien Debt Default and will not be affected by or required to act upon any notice or knowledge as to the occurrence of any Parity Lien Debt Default unless and until it receives from the Required Parity Lien Debtholders or a Parity Lien Representative written notice stating that an Actionable Default has occurred and is continuing.

• The Collateral Agent has accepted and is bound by the Security Documents executed by the Collateral Agent as of the date of this Agreement and, as directed by the Required Parity Lien Debtholders, the Collateral Agent shall execute additional Security Documents delivered to it after the date of this Agreement; provided, however, that such additional Security Documents do not adversely affect the rights, privileges, benefits and immunities of the Collateral Agent.

More Definitions of Required Parity Lien Debtholders

Required Parity Lien Debtholders means, at any time, the holders of a majority in aggregate principal amount of all Parity Lien Debt then outstanding (and including a majority in principal amount of the Company’s 9% Senior Secured Second Lien Notes due 2021 then outstanding), calculated in accordance with the provisions of Section 7.2 of the Collateral Trust Agreement. For purposes of this definition, Parity Lien Debt registered in the name of, or beneficially owned by, the Company or any Subsidiary of the Company will be deemed not to be outstanding.

Required Parity Lien Debtholders means, at any time, the holders of a majority in aggregate principal amount of all Parity Lien Debt then outstanding, calculated in accordance with the provisions of Section 8.2 of the Collateral Trust Agreement. For purposes of this definition, Parity Lien Debt registered in the name of, or beneficially owned by, the Company or any Affiliate (other than the Notes held by any Person that is an Affiliate of the Company as of the date of this Indenture and that is regulated by any banking or insurance authority) of the Company will be deemed not to be outstanding.

Required Parity Lien Debtholders has the meaning set forth in the Collateral Agency Agreement.

Required Parity Lien Debtholders means, at any time, the holders of more than 50% of the sum of: (a) the aggregate outstanding principal amount of Parity Lien Debt (including outstanding letters of credit whether or not then available or drawn); and (b) other than in connection with the exercise of remedies, the aggregate unfunded commitments to extend credit which, when funded, would constitute Parity Lien Debt. For purposes of this definition, (a) Parity Lien Debt registered in the name of, or beneficially owned by, the Issuers or any Affiliate of the Issuers will be deemed not to be outstanding, and (b) votes will be determined in accordance with the provisions of the Security Documents.

Required Parity Lien Debtholders means, at any time, the holders of a majority in aggregate principal amount of all Parity Lien Principal Debt then outstanding, calculated in accordance with the provisions described in Section 7.2 of the Collateral Trust Agreement. For purposes of this definition, Parity Lien Principal Debt registered in the name of, or beneficially owned by, any issuer thereof, any guarantor thereof or any Affiliate of any issuer or any guarantor thereof will be deemed not to be outstanding.

Required Parity Lien Debtholders means, at any time, the holders of more than 50% of the sum of: (1) the aggregate outstanding principal amount of Parity Lien Debt (including outstanding letters of credit whether or not then available or drawn); and (2) other than in connection with the exercise of remedies, the aggregate unfunded commitments to extend credit which, when funded, would constitute Parity Lien Debt.

Required Parity Lien Debtholders in its entirety as follows: “Required Parity Lien Debtholders” means, at any time, the holders of a majority in aggregate principal amount of all Parity Lien Debt then outstanding, calculated in accordance with the provisions of the Collateral Trust Agreement. For purposes of this definition, Parity Lien Debt registered in the name of, or beneficially owned by, the Company or any Affiliate of the Company will be deemed not to be outstanding. (e) adding the following new definitions immediately after the definition of “Net Working Capital”: “New Notes” means the Company’s 10% Second Lien Secured Senior PIK Notes due 2021 issued upon closing of the New Notes Exchange Offer. “New Notes Exchange Offer” means the Company’s August 2016 Exchange Offers and Consent Solicitation offerings to exchange New Notes and shares of the Company’s common stock for the Securities and Existing Unsecured Notes, as the same may be amended. “New Notes Indenture” means that certain indenture under which the New Notes are initially issued upon closing of the New Notes Exchange Offer. (f) adding the following new definition immediately after the definition of “PetroQuest L.L.C.”: