Restructuring Transaction

Restructuring Transaction. Means any transaction or series of transactions which has the effect of (i) forgiving, reducing, or modifying the principal balance of, or otherwise adjusting the amount of, the Senior Indebtedness, (ii) exchanging all or any portion of the Senior Indebtedness for any other instrument or security, (iii) the exercise of any rights or remedies by the Administrative Agent or any Lender under the Loan Documents, or (iv) replacing or refinancing the Senior Indebtedness, in whole or in part.

Restructuring Transaction. Has the meaning set forth in the recitals hereto.

Restructuring Transaction. Shall mean, collectively, (a) the creation by Study Island Holdings, LLC of a new wholly-owned subsidiary, SI Midco, LLC; (b) the transfer by Study Island Holdings, LLC of all of the Equity Interests in the Borrower to SI Midco, LLC, resulting in the Borrower becoming a wholly-owned subsidiary of SI Midco, LLC; (c) the release by the Lenders of all of Study Island Holdings, LLC's guaranty obligations under the Loan Documents and the release of the Liens held by such Lenders and the Agent with... respect to such guaranty obligations; and (d) the guaranty by SI Midco, LLC of all of the Obligations under the Loan Documents and the granting of a lien to Agent, for the benefit of the Secured Parties, in its property to secure the Obligations pursuant to the Guaranty and Security Agreement. View More