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

  • Without limiting the generality of the foregoing, except as expressly provided above in Sections 3.1(b) or in Section 6.4(b), the sole right of the Non-Controlling Secured Parties is to hold a Lien on the Shared Collateral pursuant to the applicable Collateral Documents for the period and to the extent granted therein and to receive a share of the proceeds thereof, if any, pursuant to Section 4.1.

  • 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.

  • 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.

  • Each Non-Controlling Authorized Representative, for itself or on behalf of any such Non-Controlling Secured Parties, promptly shall execute and deliver to the General Credit Facilities Collateral Agent or such Grantor such termination statements, releases and other documents and take all such further actions as the General Credit Facilities Collateral Agent or such Grantor may reasonably request to effectively confirm such release.


More Definitions of Non-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.
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Non-Controlling Secured Parties means the Senior Secured Parties which are not Controlling Secured Parties.
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Non-Controlling Secured Parties the Pari Passu Secured Parties which are not Controlling Secured Parties.
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Non-Controlling Secured Parties means, at any time with respect to any Shared Collateral, the First Lien Secured Parties which are not Controlling Secured Parties at such time with respect to such Shared Collateral.
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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.
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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.
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Non-Controlling Secured Parties means, with respect to any Common Collateral, the First Lien Secured Parties that are not Controlling Secured Parties with respect to such Common Collateral.
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