Required Creditors definition

Required Creditors means holders of a majority in aggregate principal amount of, and accrued interest on, the Outstanding Indebtedness.

Required Creditors means Creditors under this Agreement holding at least twenty-six percent (26%) of all the outstanding Credits owed by the Debtor to all Creditors under this Agreement.

Required Creditors has the meaning specified in the Intercreditor Agreement.

Examples of Required Creditors in a sentence

• All decisions with respect to the type of Enforcement Action which is to be commenced shall be made by, and all actions with respect to prosecution and settlement of such Enforcement Action shall require the written consent of, the Required Creditors (acting in accordance with the terms of this Agreement), and the Collateral Agent shall not be required to take any Enforcement Action in the absence of any such written consent.

• The Required Creditors shall give any instruction, direction or consent required to be given by it to the Collateral Agent in accordance with the terms of this Agreement.

• Notwithstanding the foregoing, the Secured Parties hereby expressly acknowledge the XXXXX Xxxxxx's rights to take the actions described in clauses (b) through (f) of Section 19 of the TIFIA Loan Agreement, without the consent of the Required Creditors.

• If a Second Lien is being enforced pursuant to Clause 1(b), the Designated Second Lien Representative shall enforce the Second Lien in such manner (including, without limitation, the selection of any administrator (or any analogous officer in any jurisdiction) of any Obligor to be appointed by the Designated Second Lien Representative) as the Second Lien Required Creditors shall instruct.

• The Borrower agrees that from time to time, at its expense, it will promptly execute and deliver all further instruments and documents, and take all further action as the Collateral Agent or any Secured Party, with the consent of the Required Creditors, shall reasonably request to perfect and maintain perfected the Liens created and/or perfected hereunder and under the other Security Documents and to enable the Collateral Agent to exercise and enforce its rights and remedies hereunder and thereunder.

More Definitions of Required Creditors

Required Creditors means the Benefitted Parties holding, in the aggregate, more than 50% of the sum of (a) the face amount of any commitments for undrawn Letters of Credit plus (b) the outstanding funded principal amount of the Obligations (such amounts to be determined by assuming that all such commitments and Obligations are denominated in U.S. Dollars based upon the Applicable Exchange Rate). For purposes of the foregoing definitions, any Benefitted Party that has purchased a participation in the Obligations owing to another Benefitted Party shall be deemed to be the holder of the amount of such Obligations which are the subject of such participation.

Required Creditors means, at any time, (i) Banks whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the Banks and (ii) Noteholders whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the Noteholders; provided, however, that only Pro Rata Shares of Senior Indebtedness held by Qualified Creditors shall be included in this determination; provided, further, that if at any time Obligations owing to Banks or Noteholders, as the case may be, are Exh. A-5 Exhibit 10.2 less than both (A) $1,000,000, and (B) 10% of the aggregate Obligations (the Banks or the Noteholders, as the case may be, a “Deminimis Group”), then the Required Creditors shall be determined without regard to clause (i) if the Deminimis Group is the Banks, and clause (ii) if the Deminimis Group is the Noteholders.

Required Creditors means Lenders and Noteholders whose outstanding principal balances of the Bank Loans (including L/C Exposure) under the Bank Credit Agreements plus the outstanding principal balances under the Senior Notes exceed 50% of the aggregate of outstanding principal balances of the Bank Loans (including L/C Exposure) under the Bank Credit Agreements and outstanding principal balances under the Senior Notes; provided however, that any Bank Loan or any Senior Note held by a Loan Party or any Affiliate of any Loan Party shall be disregarded in any determination of “Required Creditors”.

Required Creditors means, as to any request for consent or direction by the Required Creditors, Secured Creditors comprising holders of at least the majority of the then outstanding Secured Obligations.

Required Creditors means, at any time, (i) Banks whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the Banks, (ii) Prudential Noteholders whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the Prudential Noteholders and (iii) NY Life Noteholders whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the NY Life Noteholders; provided, however, that only Pro Rata Shares of Senior Indebtedness held by Qualified Creditors shall be included in this determination; provided, further, that if at any time Obligations owing to Banks, the Prudential Noteholders or the NY Life Noteholders, as the case may be, are less than both (A) $1,000,000, and (B) 10% of the aggregate Obligations (the Banks, the Prudential Noteholders or the NY Life Noteholders, as the case may be, a “Deminimis Group”), then the Required Creditors shall be determined without regard to clause (i) if the Deminimis Group is the Banks, clause (ii) if the Deminimis Group is the Prudential Noteholders and clause (iii) if the Deminimis Group is the NY Life Noteholders.

Required Creditors means the requisite percentage of Secured Creditors which are needed to take actions with respect to a given Class of Obligations, i.e., whether the Required Minimum Payment Guarantor Secured Creditors, the Required Banks, the Required Other Creditors or the Required New Bondholders.

Required Creditors means (a) the Required Lenders as defined in the Credit Agreement dated as of May 10, 2001 among the Company, various financial institutions and Bank of America, N.A., as Administrative Agent (as amended or otherwise modified from time to time, the “Credit Agreement”), and (b) Senior Noteholders holding a majority in principal amount of the Senior Noteholder Notes, each, in the case of both clause (a) and clause (b) above, voting as a class; provided that if at any time (i) the aggregate outstanding principal amount of Obligations (including the face amount of any undrawn Letters of Credit) owed to the Banks under and as defined in the Credit Agreement referred to in clause (a) above (the “Banks”) or (ii) the aggregate outstanding principal amount of the Senior Notes represents, in either case, less than 10% of the sum of the aggregate amounts referred to in clauses (i) and (ii) above, then “Required Creditors” shall mean Benefitted Parties, considered as a single class, holding more than 50% of the sum of (A) the face amount of any undrawn Letters of Credit plus (B) the outstanding funded principal amount of the Obligations (it being understood that all amounts referred to in this sentence shall be determined by assuming that such amounts are denominated in U.S. Dollars based upon the Applicable Exchange Rate).”