Approving Banks definition

Approving Banks has the meaning set forth in Section 2.14.
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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 one or more Banks do not approve such renewal, Agent shall notify all Banks and the approving Banks may elect to become the Approving Banks and renew such Letter of Credit, thereby triggering the Conversion to Reduced Funding Banks Date.

  • If any Bank in a timely manner provides the Administrative Agent with such a written 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 and/or participate in 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 Administrative Agent does timely receive a written notice in the form of Exhibit H, the Administrative Agent shall notify the Borrower, such Issuing Bank and the Banks by 6:00 p.m. (New York City time) one Business Day immediately prior to 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 the Bank or Banks which are not the Declining Banks desire, they may (on a pro rata basis among the Banks that have elected to continue funding) make the full or partial amount of such requested Revolving Loan or issue or amend the requested Letter of Credit irrespective of the Declining Banks' disapproval (in such case, the Banks that elect to continue funding shall be referred to as the "Approving Banks").

  • 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 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.

  • 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.

  • If the Administrative Agent does timely receive a written notice in the form of Exhibit H, the Administrative Agent shall notify the Borrower, such Issuing Bank and the Banks by 6:00 p.m. (New York City time) one Business Day immediately prior to the proposed date of amendment, and the Letter of Credit will not be amended; provided, however, that one or more Banks may elect to become the Approving Banks and amend such Letter of Credit, thereby triggering the Conversion to Reduced Funding Banks Date.

  • 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 amendment, and the Letter of Credit will not be amended; provided, however, that if one or more Banks do approve such amendment, Agent shall notify all Banks and the approving Banks may elect to become the Approving Banks and amend such Letter of Credit, thereby triggering the Conversion to Reduced Funding Banks Date.

Related to Approving Banks

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

  • Bank Lenders means the banks and financial institutions party to the Bank Credit Agreement.

  • Existing Banks means each Person which was a Bank under, and as defined in, the Existing 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).

  • Increasing Lenders is defined in Section 2.14.

  • Requisite Revolving Lenders means Lenders having (a) more than 50% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Revolving Loan.

  • Extending Lenders has the meaning specified in Section 2.08.

  • Existing Lenders as defined 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 or holding more than 66 2/3% of the aggregate Revolving Loan Exposure of all Lenders; provided, that (i) the Revolving Loan Exposure of any Defaulting Lender shall be disregarded in the determination of the Supermajority Lenders, and (ii) at any time there are two or more Lenders (who are not Affiliates of one another), “Supermajority Lenders” must include at least two Lenders (who are not Affiliates of one another or Defaulting Lenders).

  • 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.

  • 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 the administrative agent under the Term Loan Agreement

  • 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).