Directing Holders definition

Directing Holders. As defined in Section 3.30(d).

Directing Holders. The Holders of not less than 51% of the Outstanding Principal Amount of the lowest Class of Certificates then Outstanding (or Classes, if more than one Series is Outstanding).

Directing Holders means Holders representing 100% of the Certificate Principal Balance. If on any matter in which the Trustee requests direction from the Directing Holders the Trustee fails to receive such direction, the Trustee will take no action with respect to the requested matter.

Examples of Directing Holders in a sentence

• The Settlement Agreement, as revised, provides that the $7 million that will be paid by the Settlement Counterparties directly to the Directing Holders will reduce dollar-for- dollar the amounts reimbursable to the Directing Holders pursuant to the D&I.

• As of the date of this Petition, the Directing Holders have paid, or have been invoiced for and are obligated to pay, in the aggregate, approximately $8.67 million of Litigation Expenses pursuant to the D&I.

• As a result, pursuant to the terms of the D&I, the Directing Holders advanced their own funds to pay or reimburse the Trustee for a substantial portion of the Litigation Expenses incurred since the commencement of the Putback Action.

• In addition, it provided for a separate payment of $7,000,000 to be made by the Settlement Counterparties directly to the Directing Holders for reimbursement of the fees and expenses related to the Putback Action that were paid by the Directing Holders pursuant to the D&I.

• The Directing Holders have informed the Trustee that they do not have any Investigative Expenses for which they are seeking reimbursement and, therefore, they are only seeking reimbursement for the Litigation Expenses that they have paid or are obligated to pay pursuant to the D&I.

More Definitions of Directing Holders

Directing Holders. Fees and Expenses” means the reasonable and non-duplicative fees and expenses actually incurred by the Directing Holders in connection with directing and/or indemnifying the Trustee to prosecute the Action pursuant to the D&I.

Directing Holders means, at any time, the holders of Notes which constitute at least (i) 50%, or such greater amount as may be required under the applicable circumstances by the Note Indenture, in principal amount of Senior Secured Notes and (ii) 50%, or such greater amount as may be required under the applicable circumstances by the Discount Note Indenture, in principal amount of Senior Secured Discount Notes and (iii) Required Secured Creditors; provided, however, that for purposes of calculating the percentages set forth in this definition there shall not be counted the principal amount of any Notes (A) for which (and to the extent that) there are at such time on deposit with the Collateral Agent amounts to be applied to the payment of principal of or interest or premium on or with respect thereto, (B) which are owned or held by or on behalf of the Company or any of its Affiliates, or (C) which have been defeased or in respect of which the Company's and each of its subsidiaries' (if applicable) obligations have been terminated in each case pursuant to the provisions of Article Eight of each Indenture. The Trustees acknowledge, on their own behalf and on behalf of the Noteholders, that as a result of this definition, the Collateral Agent may refuse to act unless the requisite percentage of Noteholders of both the Senior Secured Notes and the Senior Secured Discount Notes and the Required Secured Creditors vote consistently.

Directing Holders has the meaning stated in Section 5.12(a). Dollars, U.S.$ and $ mean such coin or currency of the United States as, at the time, shall be legal tender for the payment of public or private debts.

Directing Holders means (a) initially, (i) Cambridge Place Investment Management LLP on behalf of each of CPIM Structured Credit Fund 1500 L.P., CPIM Structured Credit Fund 1000 L.P., and CPIM Structured Credit Fund 20 L.P. and (ii) KBS Park Central, LLC and (b) if any of the Notes are sold, such persons as shall then be agreed upon by the Holders, provided that Servicer shall not be required to accept more than two Directing Holders at any time.

Directing Holders means (a) initially, (i) CBRE and (ii) Column, and (b) if any of the Notes are sold, such persons as shall then be agreed upon by the Holders, provided that Servicer shall not be required to accept more than two Directing Holders at any time.

Directing Holders means, as of any date of determination, the Holders of at least seventy-five percent (75%) of the aggregate outstanding principal balance of the 2Q 2012 Notes.

Directing Holders means (i) funds and accounts managed by affiliates of Ashmore Group plc, (ii) funds and accounts managed by affiliates of BlackRock, Inc., and (iii) funds and accounts managed by Contrarian Capital Management, LLC.