Second Lien Note Holders definition
Examples of Second Lien Note Holders in a sentence
As a condition to any Person becoming a successor Second Lien Collateral Agent, the Second Lien Note Holders shall cause such successor Second Lien Collateral Agent to promptly execute a counterpart to this Agreement.
The Issuers shall use commercially reasonable efforts to obtain the entry of an order providing that the liens under the Second Lien DIP Facility prime, and are in all respects senior to, any Allowed EFIH Second Lien Makewhole Claims of Non-Settling EFIH Second Lien Note Holders.
Accordingly, as to the Non-Settling EFIH Second Lien Note Holders, EFIH shall reserve all rights.
In the event that the amount of cash collateral provided by the Second Lien Note Holders exceeds the actual obligations that such cash collateral is securing, the amount of such excess shall be returned to the Second Lien Note Holders promptly following satisfaction in full of such obligations.
Notwithstanding the above, a specific Milestone may be extended or waived with the express prior written consent of the Debtors, the Required Consenting Senior Note Holders, and the RBL Agent on behalf of the Required Consenting RBL Lenders; provided that the Milestone set forth in section (h) may not be extended beyond 185 days from the Petition Date without the additional consent of the Required Consenting Second Lien Note Holders.
Upon delivery of such notice, the Purchasing Second Lien Note Holders shall be obligated to purchase (on a pro rata basis), and the First Lien Creditors shall be obligated to sell, the entire aggregate amount of outstanding First Lien Obligations for the purchase price described in this Section within fifteen (15) days after delivery of such notice, nor shall the Second Lien Notes Trustee have any responsibility to execute, or liability in connection with, the execution of such purchase.
Upon such release and termination, the rights of the Second Lien Note Holders to the State ERG Grant payments shall be limited to their claims to the then outstanding balance of the Pledged Account.
Any notices required to be given to the Second Lien Note Holders shall be effective if such notice is given to the Second Lien Representative or other representative of the Second Lien Note Holders.
The Debtors will assert that no Allowed Claim exists on account of any alleged premiums, fees or claims relating to the repayment of the EFIH Second Lien Note Claims held by Non-Settling EFIH Second Lien Note Holders, but will litigate such Claims at a later date in the Chapter 11 Cases.
In the event that the First Lien Obligations are purchased by the Second Lien Note Holders in accordance with the terms hereof, the First Lien Agent and the First Lien Creditors shall have the right (which shall be exercised within 10 Business Days after the consummation of such purchase) to terminate immediately all banking and other services then being offered to any of the First Lien Borrowers, the Second Lien Borrower or the other Loan Parties.