Majority Combined Lenders definition

Majority Combined Lenders means the Lenders having at least 66 2/3% of the aggregate "Credit Exposure." For the purposes hereof, "Credit Exposure" of any Lender shall mean, at any date of determination, the maximum dollar amount that such Lender could be then required by the terms hereof (assuming all conditions to Borrowings and Issuances were satisfied) to expend to (i) purchase participations in Letters of Credit pursuant to Section 3.04 hereof (including any amounts so expended and not reimbursed at the date of determination) and (ii) fund A Advances (including any amounts so expended to fund A Advances outstanding on the date of determination).
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Majority Combined Lenders means the Lenders having at least 66 2/3% ------------------------- of the aggregate "Credit Exposure." For the purposes hereof, "Credit Exposure" of any Lender shall mean, at any date of determination, the maximum dollar amount that such Lender could be then required by the terms hereof (assuming all conditions to Borrowings and Issuances were satisfied) to expend to (i) purchase participations in Letters of Credit pursuant to Section 3.05 hereof (including any amounts so expended and not reimbursed at the date of determination) and
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Examples of Majority Combined Lenders in a sentence

  • Upon any such resignation or removal, the Majority Combined Lenders, after consulting with the Borrower and giving due consideration to any successor agent recommended by the Borrower, shall have the right to appoint a successor Agent with the consent of the Borrower (which shall not be unreasonably withheld).

  • Upon any removal of the Issuing Bank, the Majority Combined Lenders and the Borrower shall jointly have the right to appoint a successor Issuing Bank.

  • The Issuing Bank may be removed at any time with or without cause jointly by the Majority Combined Lenders and the Borrower.

  • Except as is otherwise expressly provided in this Section 10.01, no amendment or waiver of any provision of this Agreement, nor consent to any departure by the Borrower therefrom, shall in any event be effective unless the same shall be in writing and signed by the Majority Combined Lenders.

  • If no successor Issuing Bank shall have been so appointed by the Majority Combined Lenders and the Borrower, and shall have accepted such appointment, within 30 days after the removal of the Issuing Bank, the Issuing Bank may, on behalf of the Lenders, appoint a successor Issuing Bank, which shall be a commercial bank organized or licensed to do business under the laws of the United States of America or of any State thereof and having a combined capital and surplus of at least $50,000,000.

  • The Borrower will not, without the written consent of the Majority Combined Lenders, permit the ratio of Debt on the last day of any Fiscal Quarter of the Borrower to EBITDA for the period of four consecutive Fiscal Quarters of the Borrower ending on such day to be greater than 3.00 to 1.00.

  • Within ten Business Days after the request of the -------- Majority Combined Lenders made through the Agent, cause its domestic Subsidiaries designated in such request to enter into and deliver a guaranty of the Obligations, such guaranty to be in form and substance satisfactory to the Majority Combined Lenders.

  • Within ten Business Days after the request of the Majority Combined Lenders made through the Agent, cause its Subsidiaries designated in such request to enter into and deliver a guaranty of the Obligations, such guaranty to be in form and substance satisfactory to the Majority Combined Lenders.

  • The Agent may resign at any time by giving ten days' prior written notice thereof to the Lenders and the Borrower and may be removed at any time with or without cause by the Majority Combined Lenders; provided, that, the Agent may resign without having given such notice if it is required to do so as a matter of law.

  • The Agent may resign at any time by giving 30 days' prior written notice thereof to the Lenders and the Borrower and may be removed at any time with or without cause by the Majority Combined Lenders; provided, that, the Agent may resign without having given such notice if it is required to do so as a matter of law.