Majority Initial Consenting Noteholders definition

Majority Initial Consenting Noteholders means Initial Consenting Noteholders that hold in aggregate not less than a majority of the aggregate principal amount of Senior Secured Notes held by all of the Initial Consenting Noteholders at the applicable time;
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Majority Initial Consenting Noteholders means Initial Consenting Noteholders holding not less than 66 2/3% of the aggregate principal amount of the Senior Unsecured Notes held by all Initial Consenting Noteholders. "New 1.5 Lien Notes" means in aggregate the CAD$60 million in new 10% PIK interest convertible secured notes to be issued prior to or concurrent with the completion of the Recapitalization Transaction. "New Shares" means all Common Shares of CWS issued to Senior Unsecured Noteholders pursuant to the Plan. "Noteholders" means, collectively, the Senior Unsecured Noteholders. "Proceedings" means the Company's proceedings under the CBCA pursuant to which the Plan shall be implemented. "Pro Forma Common Shares" means all of the issued and outstanding common shares of CWS, as at immediately following the Effective Time and taking into account the Existing Shareholder Shares and the New Shares, but not taking into account the Backstop Shares issued pursuant to the Plan, and subject to dilution pursuant to conversion of the New 1.5 Lien Notes. "Record Date" means July 13, 2020. "Second Lien Noteholders" means a holder or holders of the Second Lien Notes, in their capacity as such.
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Majority Initial Consenting Noteholders means at least two Initial Consenting Noteholders that hold in the aggregate more than 50% of the aggregate principal amount of Notes held by all Initial Consenting Noteholders at the applicable time;
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Examples of Majority Initial Consenting Noteholders in a sentence

  • Share Consolidation As a step in the Plan, the Common Shares shall be consolidated (the "Share Consolidation") using a ratio that is acceptable to the Company, the Majority Commitment Parties, and the Majority Initial Consenting Noteholders, each acting reasonably.

  • Governance The composition and size of the Board of the Company following implementation of the Plan shall be acceptable to each of the Majority Commitment Parties, the Majority Initial Consenting Noteholders and as may otherwise be required pursuant to the terms of any Support Agreement or the Commitment Letter.

  • Documentation The Company and its advisors will work cooperatively with the Majority Initial Consenting Noteholders and the Initial Commitment Parties and their respective advisors to prepare and finalize all Definitive Documents (including, without limitation, all Court documents and the Plan) required to implement the Recapitalization Transaction.

  • Shareholder Rights Plan The Company, the Initial Commitment Parties and the Majority Initial Consenting Noteholders shall use commercially reasonable efforts to negotiate a customary shareholder rights plan to be adopted by the Company.

  • Any such termination of the Agreement as to all Parties shall be effective upon the giving of written notice by the Majority Initial Consenting Noteholders in accordance with Section 16(q).

  • Tax Considerations The Recapitalization Transaction will be structured in a manner acceptable to the Company, the Initial Commitment Parties and the Majority Initial Consenting Noteholders to effectuate the terms and conditions outlined herein in a tax efficient and acceptable manner for the Company, the Initial Commitment Parties and the Majority Initial Consenting Noteholders.


More Definitions of Majority Initial Consenting Noteholders

Majority Initial Consenting Noteholders means Initial Consenting Noteholders holding not less than a majority of the principal amount of the Notes held by all Initial Consenting Noteholders, in each case as communicated to the Applicant by counsel to the Initial Consenting Noteholders, in accordance with section 10.6 hereof.
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Majority Initial Consenting Noteholders means Initial Consenting Noteholders who hold in the aggregate not less than 662/3% of the principal amount of Senior Unsecured Notes held by all Initial Consenting Noteholders.
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Majority Initial Consenting Noteholders means Initial Consenting Noteholders holding not less than a majority of the principal amount of the Notes held by all Initial Consenting Noteholders as at the time that any agreement, waiver, consent or approval is sought or required, as the case may be, and in each case as communicated to the Applicants by counsel to the Initial Consenting Noteholders in accordance with Section 10.6.
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Related to Majority Initial Consenting Noteholders

  • Consenting Noteholders has the meaning set forth in the preamble to this Agreement.

  • Required Consenting Noteholders means, as of the relevant date, Consenting Noteholders holding at least 50.01% of the aggregate outstanding principal amount of Senior Notes that are held by Consenting Noteholders at the relevant time.

  • Majority Investors means, as of any date, the holders of a majority of the Investor Shares outstanding on such date.

  • Majority in Interest of Note Holders Make-Whole Amount" or "Note Holder," or the percentage of Note Holders required to take or approve any action hereunder, (ii) reduce the amount, or change the time of payment or method of calculation of any amount, of Original Amount, Make-Whole Amount, if any, or interest with respect to any Equipment Note, or alter or modify the provisions of Article III hereof with respect to the order of priorities in which distribution thereunder shall be made as among the Note Holders, the Owner Trustee and Lessee, (iii) reduce, modify or amend any indemnities in favor of the Owner Trustee, the Mortgagee or the Note Holders (except that the Owner Trustee (in its individual capacity) or the Mortgagee, as the case may be, may consent to any waiver or reduction of an indemnity payable to it) or the other Indenture Indemnitees, (iv) consent to any change in the Trust Indenture or the Lease which would permit redemption of Equipment Notes earlier than permitted under Section 2.10 or 2.11 hereof or the purchase or exchange of the Equipment Notes other than as permitted by Section 2.13 hereof, (v) except as contemplated by the Lease or the Participation Agreement, reduce the amount or extend the time of payment of Basic Rent, Stipulated Loss Value, or Termination Value for the Aircraft in each case as set forth in the Lease, or modify, amend or supplement the Lease or consent to any assignment of the Lease, in either case releasing Lessee from its obligations in respect of the payment of Basic Rent, Stipulated Loss Value or Termination Value for the Aircraft or altering the absolute and unconditional character of the obligations of Lessee to pay Rent as set forth in Sections 3 and 16 of the Lease or (vi) permit the creation of any Lien on the Trust Indenture Estate or any part thereof other than Permitted Liens or deprive any Note Holder of the benefit of the Lien of this Trust Indenture on the Trust Indenture Estate, except as provided in connection with the exercise of remedies under Article IV hereof.

  • Majority in Interest of Noteholders means, as of a particular date of determination and subject to Section 2.16 of the Indenture, the holders of at least a majority in aggregate unpaid principal amount of all Equipment Notes outstanding as of such date (excluding any Equipment Notes held by the Company or any Affiliate thereof, it being understood that a Pass Through Trustee shall be considered an Affiliate of the Company as long as more than 50% in the aggregate face amount of Pass Through Certificates issued by the corresponding Pass Through Trust are held by the Company or an Affiliate of the Company or a Pass Through Trustee is otherwise under the control of the Company or such Affiliate of the Company (unless all Equipment Notes then outstanding are held by the Company or any Affiliate thereof, including the Pass Through Trustees which are considered Affiliates of the Company pursuant hereto)); provided that for the purposes of directing any action or casting any vote or giving any consent, waiver or instruction hereunder, any Noteholder of an Equipment Note or Equipment Notes may allocate, in such Noteholder’s sole discretion, any fractional portion of the principal amount of such Equipment Note or Equipment Notes in favor of or in opposition to any such action, vote, consent, waiver or instruction.