Majority Class Lenders definition
Majority Class Lenders means, at any time, with respect to Lenders of any Class, Lenders having more than 50% of the aggregate Credit Exposures of such Class at such time.
Majority Class Lenders means, with respect to any Class, the holders of more than 50% of the aggregate unpaid principal amount of the outstanding Loans of such Class (or in the case of the Revolving Credit Facility, (i) prior to the termination of all of the Revolving Credit Commitments, the holders of more than 50% of the Revolving Credit Commitments and (ii) after any termination of all of the Revolving Credit Commitments, the holders of more than 50% of all Committed Loans, Swing Line Loans and L/C Obligations (with the aggregate amount of each Revolving Credit Lender’s participations (including funded participations) in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition); provided that the portion of the Revolving Credit Commitments, Committed Loans, Swing Line Loans and L/C Obligations, as applicable, held or deemed held by a Defaulting Lender shall be excluded for purposes of making a determination of Majority Class Lenders at any time).
Majority Class Lenders as defined in subsection 12.1.
Examples of Majority Class Lenders in a sentence
Each Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or, if so specified by this Agreement, the Majority Class Lenders or all Lenders) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action.
Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the Required Lenders (or, if so specified by this Agreement, the Majority Class Lenders or all Lenders), and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Lenders and all future holders of the Loans.
Notwithstanding anything to the contrary contained herein, upon the request of the Majority Class Lenders with respect to the Revolving Credit Facility, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.
The Administrative Agent shall have received (i) this Agreement, executed and delivered by a Responsible Officer of each Borrower, Chips Limited, ISL, Chase Delaware, the Agents, the Majority Class Lenders, the US Revolving Credit Lenders and the Canadian Revolving Credit Lenders, with a copy for each Lender, (ii) for the account of each of the Chips Acquisition Term Loan Lenders and the Chips Limited Term Loan Lenders who have requested a Term Note of Chips Inc.
More Definitions of Majority Class Lenders
Majority Class Lenders means, as of any date of determination, with respect to any Class of Lenders, Lenders having more than 50% of the aggregate Commitments of such Class or, if the Commitments of such Class of each Lender of such Class to make Loans, and, if applicable as to the Revolving Loans, the commitment of each Swingline Lender to make Swingline Loans, and the obligation of the Issuing Bank to issue Letters of Credit have been terminated pursuant to Article VII, Lenders holding in the aggregate more than 50% of the aggregate Revolving Credit Exposure (including the aggregate amount of each Lender’s risk participation and funded participation in LC Exposure and Swingline Loans) or Term Loans of such Class; provided that the Commitment of, and the portion of the Obligations held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Class Lenders.
Majority Class Lenders means, as of any date of determination, with respect to any Class of Lenders, Lenders that are not Defaulting Lenders having more than 50% of the aggregate Credit Exposures and (prior to the end of the Availability Period) unused Commitments (excluding the Credit Exposures and unused Commitments of such Defaulting Lenders) of such Class at such time; provided that (i) in the event there are less than three (3) Lenders in such Class at the time in question, Majority Class Lenders shall mean all of such Lenders (excluding any Defaulting Lenders), (ii) if any Affiliate of a Lender becomes a Lender, such parties will be considered as one Lender for purposes of this definition, and (iii) as long as there is more than one (1) Lender hereunder, no single Lender may take an action that requires the consent or approval of the Majority Class Lenders without the approval of at least one other Lender in such Class.
Majority Class Lenders. Means, with respect to any Class of Lenders on any date of determination, Lender or Lenders whose aggregate Applicable Percentage is greater than fifty percent (50%) of the aggregate Commitments of all Lenders of such Class; provided that in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Applicable Percentages of the Lenders shall be redetermined for voting purposes only to exclude the Applicable Percentages of such Defaulting Lenders; provided further that any time there are two (2) or more unaffiliated non-Defaulting Lenders of such Class hereunder, Majority Class Lenders shall mean at least two (2) unaffiliated non-Defaulting Lenders of such Class.
Majority Class Lenders means, as of any date of determination, with respect to any Class of Lenders, Lenders having more than 50% of the aggregate Commitments of such Class or, if the Commitments of such Class of each Lender of such Class to make Loans, and, if applicable as to the Revolving Loans, the commitment of each Swingline Lender to make Swingline Loans, and the obligation of the Issuing Bank to issue Letters of Credit have been terminated pursuant to Article VII, Lenders holding in the aggregate more than 50% of the aggregate Revolving Credit Exposure (including the aggregate amount of each Lender’s risk participation and funded participation in LC Exposure and Swingline Loans) or Term Loans of such Class; provided that the Commitment of, and the portion of the Obligations held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Class Lenders. “Management Company” means, collectively, ▇▇▇▇▇▇▇ Capital Essential Asset Property Management, LLC, ▇▇▇▇▇▇▇ Capital Essential Asset Property Management II, LLC, ▇▇▇▇▇▇▇ Capital Essential Asset Advisor, LLC and/or, ▇▇▇▇▇▇▇ Capital Essential Asset Advisor II, LLC, and/or any other Subsidiary of the Borrower. “Material Acquisition” means an acquisition of assets with a total cost that is more than the greater of (a) 10% of Total Asset Value based upon the most recent compliance certificate submitted prior to such acquisition, or (b) one hundred million dollars ($100,000,000.00). “Material Adverse Effect” means a material adverse effect on (a) the business, assets, results of operations, or financial condition, financial or otherwise, of (i) the BorrowerParent and its Subsidiaries, other than owners of Pool Properties, and the Parent, taken as a whole, or (ii) any owner of a Pool Property taken as a whole, (b) the ability of any of the Credit Parties , taken as a whole, to perform their obligations under the Loan Documents or (c) the rights of or benefits available to the Administrative Agent or the Lenders under the Loan Documents. “Material Contract” means any contract or other arrangement (other than Loan Documents), whether written or oral, to which any Credit Party is a party as to which the breach, nonperformance, cancellation or failure to renew by any party thereto could reasonably be expected to have a Material Adverse Effect. “Maturity Date” means any of the Revolving Loan Maturity Date, the 2023 Term Loan Maturity Date, the 2024 Term Loan Maturity Date, the 2026 Term...
Majority Class Lenders means, at any time with respect to any action or vote, each of (i) the Majority Revolving Lenders and (ii) the Majority Term B Lenders.
Majority Class Lenders means, at any date, (a) with respect to Initial Loans, Non-Defaulting Lenders having or holding a majority of the outstanding principal amount of the Initial Loans in the aggregate at such date and (b) with respect to Extended Loans, Non-Defaulting Lenders having or holding a majority of the outstanding principal amount of the Extended Loans in the aggregate at such date.
Majority Class Lenders means, at any time of determination, (i) for the Class of Lenders having US Revolving Loan Commitments, Lenders having or holding more than 50% of the aggregate US Revolving Loan Commitments of all Lenders, (ii) for the Class of Lenders having US Term Loan Commitment, Lenders having or holding more than 50% of the aggregate US Term Loan Commitment of all Lenders, (iii) for the Class of Lenders having Canadian Revolving Loan Commitment, Lenders having or holding more than 50% of the aggregate Canadian Revolving Loan Commitment of all Lenders and (iv) for the Class of Lenders having Canadian Term Loan Commitment, Lenders having or holding more than 50% of the aggregate Canadian Term Loan Commitment of all Lenders. "MAJORITY US REVOLVING LENDERS" means Lenders having or holding more than 50% of the aggregate US Revolving Loan Commitment of all Lenders. "MAJORITY US TERM LENDERS" means Lenders having or holding more than 50% of the aggregate US Term Loan Commitment of all Lenders. "MAJORITY LENDERS" means Lenders having or holding more than 50% of the sum of the aggregate US Term Loan Commitment of all Lenders plus the aggregate US Revolving Loan Commitment of all Lenders plus the aggregate Canadian Revolving Loan Commitment of all Lenders plus the aggregate Canadian Term Loan Commitment of all Lenders.