Non-Controlling Secured Parties definition

Non-Controlling Secured Parties means, with respect to any Shared Collateral, the First Lien Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral.

Non-Controlling Secured Parties means, with respect to any Shared Collateral, the Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral.

Non-Controlling Secured Parties means, with respect to any Common Collateral, the First-Priority Secured Parties which are not Controlling Secured Parties with respect to such Common Collateral.

Examples of Non-Controlling Secured Parties in a sentence

• Notwithstanding the equal priority of the Liens, the Controlling Collateral Agent may deal with the Shared Collateral without regard to the equal priority Lien of the Non-Controlling Secured Parties on such Collateral.

• Notwithstanding the equal priority of the Liens, the Senior Collateral Agent (acting on the instructions of the Applicable Authorized Representative) may deal with the Shared Collateral without regard to the equal priority Lien of the Non-Controlling Secured Parties on such Senior Collateral.

• The exception does not apply to bodily injury resulting from the use of reasonable force to protect person’s property.

• For the avoidance of doubt, to the extent Shared Collateral is Cash Collateral, the Existing Notes Trustee, on behalf of the Existing Notes Secured Parties and the Non-Controlling Secured Parties, has consented to the use of such Cash Collateral.

• Each Collateral Agent (other than the Controlling Collateral Agent), for itself or on behalf of any such Non-Controlling Secured Parties, promptly shall execute and deliver to the Controlling Collateral Agent or such Grantor such termination statements, releases and other documents as the Controlling Collateral Agent or such Grantor may request to effectively confirm the foregoing releases.

More Definitions of Non-Controlling Secured Parties

Non-Controlling Secured Parties means the First Lien Secured Parties which are not Controlling Secured Parties.

Non-Controlling Secured Parties means, (i) with respect to any Common Pari Passu Collateral, the Pari Passu Secured Parties which are not Controlling Secured Parties with respect to such Common Pari Passu Collateral and (ii) with respect to any Common Subordinated Lien Collateral, the Subordinated Lien Secured Parties which are not Controlling Secured Parties with respect to such Common Subordinated Lien Collateral.

Non-Controlling Secured Parties means the Senior Secured Parties which are not Controlling Secured Parties.

Non-Controlling Secured Parties means, with respect to any Shared Collateral, the Pari Debt Secured Parties which are not Controlling Secured Parties with respect to such Shared Collateral, it being understood for the avoidance of doubt that at any time clause (i) of the definition of the Applicable Collateral Agent is in effect, none of the Credit Agreement Secured Parties shall be Non-Controlling Secured Parties.

Non-Controlling Secured Parties means, at any time, any Secured Party represented by an Authorized Representative that is not the Applicable Authorized Representative at such time.

Non-Controlling Secured Parties the Pari Passu Secured Parties which are not Controlling Secured Parties.

Non-Controlling Secured Parties means the Loan and Notes Secured Parties that are not Controlling Secured Parties.