Controlling Creditor definition
Controlling Creditor has the meaning specified in the Intercreditor Agreement.
Controlling Creditor means, as of any date, (a) the Board, so long as (i) the Board Guaranty is in full force and effect as of such date and has not been terminated without payment having been made thereunder and (ii) the outstanding amount of Tranche A guaranteed under the Board Guaranty as of such date represents a majority of the principal amount of the Loan then outstanding, and (b) at all other times, the Requisite Lenders.
Controlling Creditor means, until the First Lien Creditor shall have confirmed in writing, which confirmation shall not be unreasonably withheld, conditioned or delayed, to the Collateral Agent and Second Lien Creditor that all First Lien Obligations shall have been paid in full, the First Lien Creditor and, thereafter, the Second Lien Creditor; provided, that, if First Lien Obligations shall have been reinstated after such confirmation, the “Controlling Creditor” shall again be the First Lien Creditor from and after such reinstatement until a new confirmation shall have been signed by the First Lien Creditor.
Examples of Controlling Creditor in a sentence
Proceeds of insurance received by Creditor as loss payee thereof, and any compensation received by any Obligor for any expropriation and required to be paid over to any Creditor pursuant to the Transaction Documents, will be remitted to the Controlling Creditor (if paid to a Creditor) and applied by the Controlling Creditor in accordance with Section 3.3(b).
The provisions of this Agreement are and are intended solely for the purpose of (i) defining the relative rights of the Creditors, and (ii) determining the Controlling Creditor and defining its rights and obligations hereunder.
More Definitions of Controlling Creditor
Controlling Creditor or this Section 9.1;
Controlling Creditor means, (i) at any time prior to the date of the full and final discharge of the Sprott Obligations or the expiry of the Standstill Period, the Sprott Security Agent, and (ii) after the full and final discharge of the Sprott Obligations or the expiry of the Standstill Period, such Creditor as becomes the Controlling Creditor in accordance with Section 3.1(b)(i).
Controlling Creditor means, (a) as of any date of determination prior to the Senior Discharge Date, with respect to all matters other than a Junior Lender Consent Matter or an All Lender Consent Matter, the Senior Facility Agent acting at the direction of the Majority Senior Lenders and (b) from and after the Senior Discharge Date, the Junior Facility Agent acting at the direction of the Majority Junior Lenders.
Controlling Creditor means the Financial Guarantors unless and until such time:
Controlling Creditor means (a) for so long as the Tranche G Notes are outstanding and/or amounts are outstanding to AG in respect of payments made and/or to be made under any AG Financial Guarantee, the Guaranteed AG Creditor; (b) for so long as the Tranche G Notes are outstanding and the AG Removal Effective Date has occurred, the Tranche G Trustee acting on behalf of the holders of the Tranche G Notes; (c) at any time after the Tranche G Notes have been redeemed in full and no amounts are outstanding to AG in respect of payments made under the AG Financial Guarantee, the Tranche A Trustee acting on behalf of the holders of the Tranche A1 Notes and Tranche A2 Notes, as instructed by the Noteholders of Tranche A1 Notes and Tranche A2 Notes; (d) at any time after the Tranche G Notes, Tranche A1 Notes and Tranche A2 Notes have been redeemed in full and no amounts are outstanding to AG in respect of payments made and/or to be made under any AG Financial Guarantee, the Tranche A Trustee acting on behalf of the holders of the Tranche A3 Notes, the Tranche A4 Notes, the Tranche A5 Notes, the Tranche A6 Notes, the Tranche A7 Notes, the Tranche A8 Notes, the Tranche A9 Notes and the Tranche A10 Notes, as instructed by the Noteholders of the Tranche A5 Notes, the Tranche A6 Notes, the Tranche A7 Notes, the Tranche A8 Notes, the Tranche A9 Notes and the Tranche A10 Notes; (e) at
Controlling Creditor means, (a) for so long as there are Synthetic Assets outstanding under the relevant Synthetic Asset Agreement and (i) no “Event of Default” or (ii) “Termination Event” (each as defined in the Synthetic Asset Agreement and, in the case of a Termination Event, occurring as a result of a withdrawal or downgrade of any rating assigned to the Synthetic Asset Counterparty by the Rating Agencies and the failure of Synthetic Asset Counterparty to take any measures contemplated by the relevant agreement to remedy such withdrawal or downgrade) has occurred in respect of which the Synthetic Asset Counterparty is, in the case of (i) above, the sole “Defaulting Party” and, in the case of (ii) above, the sole “Affected Party” (each as such term is defined in the Synthetic Asset Agreement), the Synthetic Asset Counterparty over the relevant Liquidity Facility Provider, (b) if there are no Synthetic Assets outstanding under the relevant Synthetic Asset Agreement or (i) an “Event of Default”, or (ii) “Termination Event” (each as defined in the relevant Synthetic Asset Agreement and, in the case of a Termination Event, occurring as a result of a withdrawal or downgrade of any rating assigned to the Synthetic Asset Counterparty by the Rating Agencies and the failure by the Synthetic Asset Counterparty to remedy such withdrawal or downgrade) has occurred in respect of which the Synthetic Asset Counterparty is, in the case of (i) above, the sole “Defaulting Party” or, in the case of (ii) above, the sole “Affected Party” (as each term is defined in the Synthetic Asset Agreement), and the Liquidity Facility is not fully repaid and cancelled, the relevant Liquidity Facility Provider and (c) if there are no Synthetic Assets outstanding under the Synthetic Asset Agreement or (i) an “Event of Default” or
Controlling Creditor means at any time, the Financial Guarantors unless and until