Act of Required Debtholders definition

Act of Required Debtholders means, as to any matter at any time:

Act of Required Debtholders will mean the holders of more than 50% of the sum of the aggregate “settlement amount” (or similar term) (as defined in the applicable Hedge Agreement relating to Priority Lien Obligations consisting of a Hedging Obligation) or, with respect to any such Hedge Agreement that has been terminated in accordance with its terms, the amount then due and payable (including any termination payments then due) under such Hedge Agreement, under all Hedge Agreements relating to Priority Lien Obligations consisting of Hedging Obligations; provided that the “settlement amount” (or similar term) as of the last Business Day of the month preceding any date of determination shall be calculated by the appropriate swap counterparties and reported to the Collateral Trustee upon request; provided further, that any Hedging Obligation with a “settlement amount” (or similar term) that is a negative number shall be disregarded for purposes of all calculations required by the term “Act of Required Debtholders;” and

Act of Required Debtholders as to any matter at any time, a direction in writing delivered to the Collateral Trustee by or with the written consent of the holders of Priority Lien Debt Obligations constituting Required Debtholders, accompanied (if requested by the Collateral Trustee) by an indemnity or security reasonably satisfactory to the Collateral Trustee sufficient to protect it against any and all costs, losses, liabilities and expenses that may be incurred by it by reason of taking or continuing to take such direction.

Examples of Act of Required Debtholders in a sentence

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

• As between the First-Priority Secured Parties, the Intercreditor Agent, acting pursuant to an Act of Required Debtholders, shall have the right to adjust or settle any insurance policy or claim covering or constituting Common Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral.

• In connection with any matter under this Agreement requiring a vote of holders of First- Priority Obligations (including an Act of Required Debtholders), each Series of First-Priority Obligations will cast its votes in accordance with the First-Priority Documents governing such Series of First-Priority Obligations.

• Upon receipt of any such notice of resignation, the Controlling Secured Parties shall have the right pursuant to an Act of Required Debtholders, with the prior consent of the Company (except during the occurrence or continuation of an Event of Default, during which no consent shall be required), to appoint a successor.

• The Government was considering undertaking a review of the provisions on bestiality and sodomy contained in the Criminal Code.

More Definitions of Act of Required Debtholders

Act of Required Debtholders means, as to any matter at any time a direction in writing delivered to the Security Trustee by or with the written consent of the holders of more than 50% of the sum of:

Act of Required Debtholders has the meaning ascribed to such term in the Collateral Agency and Accounts Agreement.

Act of Required Debtholders means a vote by Holders of a majority of the principal amount of the Notes.

Act of Required Debtholders means, as to any matter at any time, a direction in writing delivered to the Collateral Trustee by or with the written consent of the holders of at least 50.1% of the sum of:

Act of Required Debtholders the meaning provided in the Collateral Agency and Intercreditor Agreement (as in effect on the Closing Date).

Act of Required Debtholders will mean the holders of more than 50% of the sum of the aggregate “settlement amount” (or similar term, in each case as defined in the applicable Hedge Agreement relating to Shared Lien Obligations consisting of a Hedging Obligation) under all Hedge Agreements relating to Shared Lien Obligations consisting of Hedging Obligations or, with respect to any such Hedge Agreement that has been terminated in accordance with its terms, the amount then due and payable (including any termination payments then due) under such Hedge Agreement; provided that the “settlement amount” (or similar term) as of the last business day of the month preceding any date of determination will be calculated by the appropriate swap counterparties and reported to the Collateral Trustee upon request; provided further, that any Hedging Obligation with a “settlement amount” (or similar term) that is a negative number will be disregarded for purposes of all calculations required by the term “Act of the Required Debtholders.” For purposes of this definition, (1) Shared 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, and (2) votes will be determined in accordance with Section 8.2 of the Collateral Trust Agreement.

Act of Required Debtholders means, as to any matter at any time prior to the Discharge of the Parity Secured Debt, a direction in writing delivered to the Collateral Trustee by or with the written consent of the Holders of more than 50% of the sum of: