Required Second Lien Creditors definition

Required Second Lien Creditors means Consenting Creditors holding at least 50.1% by principal amount outstanding of the Second Lien Note Claims held by the Consenting Creditors.

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Required Second Lien Creditors means the holders of at least a majority of the then outstanding principal amount of all Senior Secured Notes.

Required Second Lien Creditors means the “Required Second-Lien Lenders” under, and as defined in, the Credit Agreement.

Examples of Required Second Lien Creditors in a sentence

After the Effective Date, each current employee who is party to an employment agreement with the Debtors shall either: (i) have such agreement assumed by the Reorganized Debtors pursuant to the Plan; or (ii) receive a new employment agreement from the Reorganized Debtors on terms that are equal or better than the existing agreement and reasonably acceptable to the respective employee, the Reorganized Debtors, and the Required Second Lien Creditors.
Corporate Governance Corporate governance for Reorganized ▇▇▇▇▇▇▇▇▇ or any of its subsidiaries, including charters, bylaws, operating agreements, or other organization or formation documents, as applicable, shall be consistent with section 1123(a)(6) of the Bankruptcy Code, as applicable, and in form and substance reasonably acceptable to the Debtors and the Required Second Lien Creditors.
Required Second Lien Creditors As defined in the Restructuring Support Agreement.
The Reorganized ▇▇▇▇▇▇▇▇▇ Board will be composed of five members as of the Effective Date as follows: (a) one will be Reorganized ▇▇▇▇▇▇▇▇▇’▇ chief executive officer; and (b) four will be nominated by the Required Second Lien Creditors; provided, however, that, if any one New Equity Party funds or backstops $100 million or more of the Rights Offering, an additional member will be added to the Reorganized ▇▇▇▇▇▇▇▇▇ Board nominated by such New Equity Party.

More Definitions of Required Second Lien Creditors

Required Second Lien Creditors means the Second-Lien Lenders holding at least a majority (or, for purposes of Section 9.3 hereof, at least two-thirds) in principal amount of the Second-Lien Obligations then outstanding (or, to the extent required by the Second-Lien Credit Agreement or the Second-Lien Exchange Indenture, each of the Second-Lien Lenders).

Required Second Lien Creditors means the holders of not less than a majority in aggregate principal amount of the Second-Lien Notes at the time outstanding (as determined in accordance with the Second-Lien Note Indenture).

Required Second Lien Creditors means each Creditor Representative acting on behalf of the Second Lien Creditors for which it is the Creditor Representative.

Required Second Lien Creditors means (i) at all times prior to the occurrence of the Discharge of Second-Lien Lender Obligations, the Required Second-Lien Lenders (or, to the extent required by the Credit Agreement, the Second-Lien Lenders so required thereby) and (ii) at all times after the Discharge of the Second-Lien Lender Obligations, the Existing Senior Notes Trustee acting at the direction of Existing Senior Notes Holders holding at least a majority of the aggregate principal amount of Existing Senior Notes Obligations outstanding from time to time.