Requisite Lender Consent Clause Samples
The Requisite Lender Consent clause defines the threshold or specific group of lenders whose approval is necessary for certain actions or decisions under a loan agreement. Typically, this clause specifies that a majority or a predetermined percentage of lenders must agree before amendments to the loan terms, waivers, or other significant changes can be made. For example, it may require the consent of lenders holding more than 50% of the outstanding loan commitments. The core function of this clause is to streamline decision-making among multiple lenders while protecting their collective interests, ensuring that no single lender can unilaterally block or force changes to the agreement.
Requisite Lender Consent. Notwithstanding the foregoing or anything herein or in the other Loan Documents to the contrary, no Event of Default shall be waivable (either generally or in a particular instance and either retroactively or prospectively), unless in writing, and signed by the Requisite Lenders (or the Administrative Agent, at the written direction of the Requisite Lenders).
Requisite Lender Consent. The consent of the Requisite Lenders shall be required for the following actions, waivers and amendments:
(i) the waiver of any Event of Default described in Sections 5.1 other than those requiring the consent of the Unanimous Lenders pursuant to Section 7.2(a)(x) above;
(ii) the waiver of Borrower's obligation to pay the late fees set forth i▇ ▇▇▇▇▇▇n 2A.3;
(iii) actions taken by Agent under Section 2B.2(b) that contradict the advice of Agent's Inspecting Consultant or the waiver or amendment of any of the provisions set forth in Sections 2B.2(a) concerning the release of Retainage, Section 2B.5 concerning disbursement of the Development Fee, Section 2B.7 concerning funding limitations, Section 2B.7(A) concerning loan balancing requirements, and Section
Requisite Lender Consent. The Continuing Lenders shall constitute (i) the Requisite Lenders immediately prior to giving effect to this Amendment, (ii) a Majority in Interest of the Term Lenders immediately prior to giving effect to this Amendment and (iii) a Majority in Interest of the Revolving Lenders immediately prior to giving effect to this Amendment.
Requisite Lender Consent. The Sellers shall have received any required consent of the lenders under the Credit Agreement.