Certain Requisite Lender Consents Clause Samples
The 'Certain Requisite Lender Consents' clause defines which lenders must approve specific actions or amendments under a loan agreement. Typically, this clause outlines thresholds—such as a majority or supermajority of lenders—that must consent to changes affecting the terms, collateral, or repayment structure. For example, it may require approval from lenders holding more than 50% of the outstanding loan amount for material modifications. The core function of this clause is to ensure that significant decisions are made collectively by a representative portion of the lenders, thereby balancing the interests of all parties and preventing unilateral changes by a minority.
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include ▇▇▇▇▇ Fargo at all times during which ▇▇▇▇▇ Fargo is acting as Administrative Agent and the Commitment Percentage of ▇▇▇▇▇ Fargo is not less than ten percent (10.0%)) amend the financial covenants set forth in Section 9.1. or any of the definitions related thereto or waive any Default or Event of Default resulting from a breach of any of the financial covenants set forth in Section 9.1.
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include the Lender then acting as Administrative Agent), do any of the following:
(i) amend Section 9.1. or waive any Default or Event of Default occurring under Section 10.1. resulting from a violation of such Sections; or
(ii) modify the definitions of the terms “Consolidated Total Indebtedness”, “Consolidated Total Asset Value”, or “Indebtedness” (or the definitions used in such definition or the percentages or rates used in the calculation thereof).
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include the Lender then acting as Agent) or the Agent at the written direction of such Requisite Lenders, do any of the following:
(i) amend Section 10.1. or waive any Default or Event of Default occurring under Section 11.1. resulting from a violation of such Sections; or
(ii) modify the definitions of the terms “Borrowing Base”, “Maximum Loan Availability”, “Maximum Revolving Loan Availability”, “Total Liabilities”, “Gross Asset Value”, “Unencumbered Pool Value”, or “Indebtedness” (or the definitions used in such definition or the percentages or rates used in the calculation thereof).
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include the Lender then acting as Administrative Agent, so long as (x) it is not then a Defaulting Lender, and (y) with respect to an amendment to Section 10.1., Administrative Agent's Pro Rata Share is then equal to or greater than ten percent (10%)), do any of the following:
(i) amend Section 8.12, 8.13 or 10.1. or waive any Default or Event of Default occurring under Section 11.1. (excepting Section 11.1(a), the waiver of which requires unanimous consent of the Lenders) resulting from a violation of such Sections; or
(ii) modify the definitions of the terms "EBITDA", "Fixed Charges", "Funds from Operations", "Gross Asset Value", "Indebtedness", "Interest Expense", "Maximum Loan Availability", "Tangible Net Worth", "Total Liabilities" (or the definitions used in such definitions or the percentages or rates used in the calculation thereof).
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment or waiver shall, unless in writing, and signed by Lenders having at least 66-2/3% of the aggregate amount of the Commitments, 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, amend or waive the provisions of Section 2.8.(c) or Section 10.1.(m) (including any Default or Event of Default resulting under such Section).
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include the Lender then acting as Administrative Agent), do any of the following:
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include the Lender then acting as Agent), do any of the following:
(i) amend Section 10.1. or waive any Default or Event of Default occurring under Section 11.1.(l); or
(ii) modify the definitions of the terms “Total Liabilities”, “Gross Asset Value” or “Indebtedness” (or the definitions used in such definition or the percentages or rates used in the calculation thereof); or
(iii) approve any Unencumbered Pool Property pursuant to Section 4.1.(c); or
(iv) rescind and annul any acceleration as provided in Section 11.2.(e) (including, without limitation, any optional acceleration declared by the Agent and Requisite Lenders pursuant to Section 11.2.(a)(ii)).
Certain Requisite Lender Consents. Notwithstanding the foregoing or anything herein or in the other Loan Documents to the contrary, in addition to those matters herein and in the other Loan Documents that expressly require the consent of Requisite Lenders, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders, do any of the following:
(i) allow Borrower to enter into, amend or terminate any Management Agreement, any of Borrower’s organizational documents or any Property Documents (other than amendments or modifications that are not material with respect to any of the foregoing, which such amendment or modification shall require only the consent of Administrative Agent);
(ii) waive any of the requirements of Sections 5.1 and/or 5.2 hereof;
(iii) waive any Default or Event of Default;
(iv) permit any action to be taken with respect to the Ground Lease under Sections 4.23(a), (d) or (e); or
(v) grant any consent, approval or waivers in connection with any action taken pursuant to Article VI.
Certain Requisite Lender Consents. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing, and signed by the Requisite Lenders (which must include the Lender then acting as Administrative Agent), do any of the following:
(i) amend Article VIII as it relates to the covenants incorporated from Section 6.4 of the Revolving Credit Agreement, waive the Borrower’s performance or observance of any such covenants, or waive any Default or Event of Default occurring under Section 9.1 resulting from a violation of such covenants; or
(ii) modify the definitions of the terms “Debt”, “EBITDA”, “Fixed Charges”, “Gross Asset Value”, “Interest Expense”, “Maximum Outstanding Amount”, “Tangible Net Worth”, “Total Liabilities”, or “Unencumbered Asset” (or the definitions used in such definitions or the percentages or rates used in the calculation thereof).