Certain Lender Consents Clause Samples
The 'Certain Lender Consents' clause defines which decisions or actions under a loan agreement require the approval of specific lenders, rather than all lenders or just the administrative agent. Typically, this clause outlines particular matters—such as amendments to key terms, waivers, or changes to payment schedules—that cannot proceed without the consent of a designated group of lenders, often those most affected by the proposed change. Its core function is to protect the interests of certain lenders by ensuring they have a direct say in decisions that could materially impact their rights or obligations, thereby balancing flexibility in loan administration with lender protections.
Certain Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by Lenders having at least 66 2/3% of the aggregate amount of the Commitments of all Lenders, or if the Commitments have been terminated or reduced to zero, Lenders holding at least 66 2/3% of the principal amount of the aggregate outstanding Loans and Letter of Credit Liabilities, in each case, in determining such percentage at any given time, disregarding and excluding all then existing Defaulting Lenders, do any of the following:
(i) amend any of the financial covenants set forth in Section 9.1. or any of the definitions related thereto, waive the performance or observance of any of the financial covenants set forth in Section 9.1. or waive any Default or Event of Default resulting from a breach of any of the financial covenants set forth in Section 9.1.; or
(ii) amend Section 10.1.(l) or waive any Default or Event of Default occurring under such Section.
Certain Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by Lenders having at least 66 2/3% of the aggregate amount of the Commitments of all Lenders, or if the Commitments have been terminated or reduced to zero, Lenders holding at least 66 2/3% of the principal amount of the aggregate outstanding Loans and Letter of Credit Liabilities, do any of the following:
(i) amend any of the financial covenants set forth in Section 9.1. or any of the definitions related thereto, waive the performance or observance of any of the financial covenants set forth in Section 9.1. or waive any Default or Event of Default resulting from a breach of any of the financial covenants set forth in Section 10.1.; or
(ii) amend Section 10.1.(l) or waive any Default or Event of Default occurring under such Section.
Certain Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Supermajority Lenders, do any of the following:
(i) amend any of the financial covenants set forth in Section 9.1. or any of the definitions related thereto, waive the performance or observance of any of the financial covenants set forth in Section 9.1. or waive any Default or Event of Default resulting from a breach of any of the financial covenants set forth in Section 9.1.; or
(ii) amend Section 10.1.(l) or any of the definitions related thereto, or waive any Default or Event of Default occurring under such Section.
Certain Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Lenders holding at least 66 2/3% of the principal amount of the aggregate outstanding Loans, disregarding and excluding all then existing Defaulting Lenders, do any of the following:
(i) amend any of the financial covenants set forth in Section 9.1. or any of the definitions related thereto, waive the performance or observance of any of the financial covenants set forth in Section 9.1. or waive any Default or Event of Default resulting from a breach of any of the financial covenants set forth in Section 9.1.; or
(ii) amend Section 10.1.(l) or waive any Default or Event of Default occurring under such Section.
Certain Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by Lenders having at least 66-2/3% of the aggregate amount of the Commitments of all Lenders, or if the Commitments have been terminated or reduced to zero, Lenders holding at least 66-2/3% of the principal amount of the aggregate outstanding Loans, do any of the following:
(i) amend any of the financial covenants set forth in Section 9.1. or any of the definitions related thereto, waive the performance or observance of any of the financial covenants set forth in Section 9.1. or waive any Default or Event of Default resulting from a breach of any of the financial covenants set forth in Section 9.1.; or
(ii) amend Section 10.1.(l) or any of the definitions related thereto, or waive any Default or Event of Default occurring under such Section.