Examples of Senior Secured Noteholders in a sentence
The Debt Guarantee ( Noteholders) shall not be amended, modified or varied, unless such amendments are of a technical nature, to correct a manifest error or to comply with mandatory provisions of law, without the prior approval of the Senior Secured Noteholders, holding not less than 66.67% (sixty-six point six-seven percent) in Nominal Amount of the Notes Outstanding from time to time or a specific Class of Notes, as the case may be, represented by the Trustee.
In the event of any dispute in respect of any calculation relating to any Financial Covenant, such dispute shall be determined by the Issuer’s independent auditors, acting as experts and not as arbitrators (taking into account the Terms and Conditions), whose determination will, in the absence of manifest error, be final and binding on the Issuer and Senior Secured Noteholders.
In late 2001, the Board used funds for current operations from a reserve account intended to make payments to Senior Secured Noteholders.
The Senior Secured Noteholders shall receive (effective as of the Petition Date) second priority perfected liens on the Unencumbered Leases (the “Second Priority Real Estate Liens,” and together with the First Priority Real Estate Liens, the “Real Estate Liens”).
After considering all of their alternatives, the Debtors have concluded, in an exercise of their sound business judgment, that the Financing to be provided by the DIP Lenders and authorization to use Cash Collateral provided for herein and consented to by the Steering Group of Senior Secured Noteholders (constituting beneficial holders of over 75% of the Senior Secured Notes), represent the best financing presently available to the Debtors.