Approving Banks definition

Approving Banks has the meaning set forth in Section 2.14.
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Approving Banks has the meaning assigned to such term in Section 2.12 hereof.
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Approving Banks means Banks executing the Third Amendment and returning it to the Administrative Agent by 5:00 p.m. on June 12, 2001.
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Examples of Approving Banks in a sentence

  • All Letters of Credit Issued after the Conversion to Reduced Funding Banks Date shall be participated in only by the Approving Banks.

  • If Agent does timely receive a written notice in the form of Exhibit G, Agent shall notify the Borrower and such Issuing Bank by 3:00 p.m. (New York City time) on the proposed date of Issuance, and the proposed Letter of Credit will not be Issued, unless one or more of the Banks have elected to become Approving Banks thereby triggering the Conversion to Reduced Funding Banks Date.

  • If any Bank gives the Administrative Agent timely notice of its disapproval of further Borrowings and/or Issuances of Letters of Credit, then the Administrative Agent shall notify the Borrower that one or more of the Banks have elected not to fund further Borrowings or participate in the further Issuances of Letters of Credit, and whether a Bank (or Banks) has (have) elected to become the Approving Bank(s) thereby triggering the Conversion to Reduced Funding Banks Date.

  • Notwithstanding anything in this Section 2.6 to the contrary, no Demand Record Date shall be fixed if the Board determines that the demand or demands that would otherwise be submitted following such Demand Record Date could not comply with the requirements set forth in clauses (b), (d), (e) or (f) of Section 2.6(vi).

  • If any Bank gives Agent timely notice of its disapproval of further Borrowings and Issuances of Letters of Credit, then Agent shall notify the Borrower that one or more of the Banks have elected not to participate in the further issuances of Letters of Credit, and whether a Bank (or Banks) has (have) elected to become the Approving Bank(s) thereby triggering the Conversion to Reduced Funding Banks Date.

  • If the Approving Banks elect to Issue the Letter of Credit notwithstanding the Agent’s receipt of such notice, they may (on a pro rata basis among the Banks that have elected to continue funding) Issue the full amount, or a pro rata amount after taking into account the Declining Bank’s Pro Rata Share, of such requested Letter of Credit.

  • On and after the Conversion to Approving Banks Funding Date, if the Approving Banks elect to issue, extend or increase the Letter of Credit notwithstanding the Agent’s receipt of a Declining Bank Notice, the applicable Issuing Bank shall (on a pro rata basis among the Approving Banks) issue a Letter of Credit in the full amount or extend or increase such Letter of Credit upon such requested terms.

  • The Waiver/Modification Fee shall be allocated by the Administrative Agent among each of those Banks which have executed and delivered this Waiver and Modification Agreement by the Approval Deadline (each, an "Approving Bank" and, collectively, the "Approving Banks") in accordance with the following formula: the Approving Bank's Commitment divided by the Approving ---------- Banks' Commitments times $150,000.00.

  • If, in response to a request for an extension of the Termination Date, one or more Banks shall fail to agree to the requested extension (the "Disapproving Banks"), then provided that the requested extension is approved by Banks holding at least 75% of the Commitments hereunder (the "Approving Banks"), the credit facility may be extended and continued at the option of the Borrower at a lower aggregate amount equal to the Commitments held by the Approving Banks.

  • The Borrowers shall have paid (i) all reasonable invoiced fees and expenses (including reasonable attorneys fees and appraisal costs) of the Agent in connection with the Existing Credit Agreement and this Amendment (including without limitation the drafting, reviewing or execution and delivery of this Amendment) and (ii) an amendment fee in an amount equal to $75,000, to be shared on a ratable basis by each of the Approving Banks in accordance with their respective Percentages.

Related to Approving Banks

  • New Lenders has the meaning set forth in Section 2.16(c).

  • Bank Lenders means the lenders from time to time party to the Bank Credit Agreement.

  • Consenting Lenders has the meaning specified in Section 2.13(b).

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Requisite Revolving Lenders means Lenders having (a) more than 66 2/3% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 66 2/3% of the aggregate outstanding amount of the Revolving Loan.

  • Extending Lenders has the meaning specified in Section 2.08.

  • Existing Lenders has the meaning specified in the recitals hereto.

  • Continuing Lenders as defined in the recitals hereto.

  • Initial Lenders has the meaning specified in the recital of parties to this Agreement.

  • Supermajority Lenders means, at any time, Lenders having Credit Exposure and unused Commitments representing at least 66 2/3% of the sum of the total Credit Exposure and unused Commitments at such time.

  • Participating Banks means such investment banks that engage in any Debt Exchange with one or more members of the Parent Group.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Supermajority Banks means Banks having more than 75% of the sum of the Aggregate Commitments or, after the Revolving Credit Termination Date, more than 75% of the aggregate Revolving Loans outstanding (including funded participating interests in Swingline Loans).

  • Original Lenders shall have the meaning assigned to such term in the recitals hereto.

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Augmenting Lender has the meaning assigned to such term in Section 2.20.

  • Term Loan Administrative Agent means Bank of America, in its capacity as administrative agent under the Term Loan Credit Agreement, and its successors and assigns in such capacity.

  • Exit Facility Lenders means each of the lenders under the Exit Facility Credit Agreement, solely in their respective capacities as such.

  • Extending Lender shall have the meaning assigned to such term in Section 2.21(e).

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Required Facility Lenders means, with respect to any Facility on any date of determination, Lenders having more than 50% of the sum of (i) the outstanding Loans under such Facility and (ii) the aggregate unused Commitments under such Facility; provided that, to the same extent set forth in Section 10.07(h) with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders.

  • Lead Borrower has the meaning assigned to such term in the preamble of this Agreement.

  • Committed Lenders means, for any Lender Group, the Persons executing this Agreement in the capacity of a “Committed Lender” for such Lender Group (or an assignment hereof) in accordance with the terms of this Agreement.

  • Increasing Lender has the meaning specified in Section 2.18(b).

  • Purchasing Banks as defined in subsection 10.5(d).

  • New Lender as defined in Section 2.1(c).