Majority DIP Lenders definition

Majority DIP Lenders means, at the relevant date, the DIP Lenders having exposure and unused commitments representing greater than fifty and one-hundredth percent (50.01%) of the sum of all exposure outstanding and unused commitments at such time (subject to customary defaulting lender limitations) under the DIP Credit Agreement.
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Majority DIP Lenders means, collectively, each of the Majority Tranche 1 Lenders and the Majority Tranche 2 Lenders, in each case, to the extent DIP Lenders of such tranche are party to this Agreement, respectively.
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Majority DIP Lenders means, collectively, each of the Majority Tranche A Lenders, the Majority Tranche B Lenders and the Majority Tranche C Lenders, in each case, to the extent DIP Lenders of such tranche are party to this Agreement, respectively.
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Examples of Majority DIP Lenders in a sentence

  • Upon any such request for an amendment, the Borrower, the Majority DIP Lenders and the Administrative Agent agree to consider in good faith any such amendment in order to amend the provisions of this Agreement so as to reflect equitably such accounting changes so that the criteria for evaluating the Borrower’s consolidated financial condition shall be the same after such accounting changes as if such accounting changes had not occurred.

  • The Debtors are authorized and directed to execute and deliver promptly upon demand to the DIP Agent and Majority DIP Lenders all such financing statements, mortgages, notices and other documents as each may reasonably request.

  • I have successfully lobbied the Government to create an Estates Regeneration Fund, that will help support carefully planned redevelopment plans on housing estates in London and across the UK.

  • The Bankruptcy Court shall have entered the Confirmation Order in form and substance reasonably acceptable to the Debtors and the Majority DIP Lenders.

  • Any amendment or modification of the Approved Budget shall be subject to the prior written approval of the Majority DIP Lenders in their sole discretion prior to the implementation thereof.

  • Except as otherwise specifically provided in the Plan, the Debtors, with the consent of the Majority DIP Lenders and the Plan Sponsor, reserve the right to modify the Plan, whether such modification is material or immaterial, and seek Confirmation consistent with the Bankruptcy Code.

  • No Agent (and/or its directors, officers, agents or employees) shall be liable for any action taken or not taken by it (i) with the consent or at the request of the Majority DIP Lenders (or such other number or percentage of the DIP Lenders as is necessary, or as such Agent believes in good faith is necessary, under the provisions of the this Agreement or the Postpetition Loan Documents) or (ii) in the absence of its own gross negligence or wilful misconduct.

  • The Debtors shall not sell, transfer, lease, encumber or otherwise dispose of any portion of the DIP Collateral or Pre-Petition Collateral (or enter any binding agreement to do so) other than in the ordinary course of business without the prior written consent of the Majority DIP Lenders.

  • I understand that, pursuant to the Restructuring Support Agreement, the Debtors agreed that any Postpetition Hedging Arrangements shall be entered into pursuant to standards that have been agreed in advance by the Debtors, the Majority DIP Lenders (as defined in the Restructuring Support Agreement), and by the First Lien Agent, in their reasonable discretion (the “RSA StandardsRequirement”).

  • Additional variances, if any, from the Approved Budget, and any proposed changes to the Approved Budget, shall be subject to the written consent of the Majority DIP Lenders and First Lien Administrative Agent (acting at the direction of the Required Consenting Revolving Credit Agreement Lenders) in their sole discretion.


More Definitions of Majority DIP Lenders

Majority DIP Lenders means one or more lenders party to the DIP CreditAgreement holding at least 50.1% of the sum of (a) the outstanding principal amount of all DIP Claims outstanding at any such time and (b) the principal amount of unused but available commitments in respect of DIP Claims at any such time.
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Majority DIP Lenders means, at any time, those lenders having more than 50% of the aggregate amount of the commitments or, if the commitments shall have expired or been terminated, lenders having more than 50% of the aggregate amount of the outstanding exposure.
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Majority DIP Lenders means, as of any date of determination, DIP Lenders whose aggregate commitments represent greater than 50% of the commitments under the DIP Facility.
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Majority DIP Lenders. New Money DIP Lenders (as defined below) holding more than 50% of the Revolving DIP Loan Commitments under the DIP Facility shall constitute the “Majority DIP Lenders”.
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Majority DIP Lenders means, at any time, those lenders having more than 50% of the aggregate amount of the commitments or, if the commitments shall have expired or been terminated, lenders having more than 50% of the aggregate amount of the outstanding exposure. 90. “Management Equity Incentive Plan “ means that certain post-Effective Date management equity incentive plan, the form of which shall be included in the Plan Supplement and shall be established and adopted by the New Board of Wellman Holdings, and shall consist of grants of equity, restricted stock, or options in an amount up to 10% of the New Common Stock, or its equivalent (including, without limitation, synthetic or phantom instruments), as of the Effective Date. The terms of the Management Equity Incentive Plan shall be set forth in the Plan Supplement and be subject to the approval of the New Board of Wellman Holdings. 91. “New Boards” means the initial boards of directors of Reorganized Wellman and Wellman Holdings. 92. “New By-Laws” means the form of the by-laws of each of the Reorganized Debtors and Wellman Holdings acceptable to the which form will be included in the Plan Supplement. 93. “New Certificate of Incorporation” means the form of the certificates of incorporation of each of the Reorganized Debtors and Wellman Holdings, acceptable to the which form will be included in the Plan Supplement. 94. “New Common Stock” means the shares of common stock of Wellman Holdings tssaedauthorized pursuant to the Plan, par value $.001 per share, subject to dilution by the shares issued in 95. “Old Common Stock” means all of the issued and outstanding shares of common stock of Wellman, Inc. 96. “Old Common Interests” means all shares of Old Common Stock and all options, warrants or rights, contractual or otherwise to acquire shares of Old Common Stock. 97. “Old Equity Interests “ means all Old Common Interests and all Old Preferred Interests. 98. “Old Preferred Interests “ means all shares of Old Preferred Stock and all options, warrants or rights, contractual or otherwise, to acquire shares of Old Preferred Stock. 99. “Old Preferred Stock” means all of the issued and outstanding shares of preferred stock of Wellman, Inc. 100. “Other Priority Claim” means any Claim accorded priority in right of payment under section 507(a) of the Bankruptcy Code, other than an Administrative Claim and a Priority Tax Claim. 101. “Other Secured Claim” means any Secured Claim that is not a DIP Facility Claim, Prepetition Facility Claim,...
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Related to Majority DIP Lenders

  • Majority Revolving Lenders at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time)); provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • 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 Lenders means Lenders having (a) 66.67% or more of the Commitments of all Lenders, or (b) if the Commitments have been terminated, 66.67% or more of the aggregate outstanding amount of the Revolving Credit Advances.

  • Super Majority Lenders means at any time a Lender or group of Lenders whose Commitments aggregate more than 80% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 80% of the Total Commitments immediately prior to that reduction).

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Majority Term Lenders at any time, (a) if only one Term Lender holds the Term Loan, such Term Lender; and (b) if more than one Term Lender holds the Term Loan, at least two Term Lenders who hold more than 50% of the principal sum of all Term Loans outstanding; provided that the portion of the Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Majority Lenders means a Lender or Lenders whose Commitments aggregate more than sixty six and two thirds per cent (66 2/3%) of the aggregate of all the Commitments.

  • Majority Revolving Credit Lenders means Revolving Credit --------------------------------- Lenders having at least 51% of the aggregate amount of the Revolving Credit Commitments or, if the Revolving Credit Commitments shall have terminated, Lenders holding at least 51% of the sum of (a) the aggregate unpaid principal amount of the Revolving Credit Loans plus (b) the aggregate amount of all Letter of Credit Liabilities.

  • 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).

  • Required Lenders means, at any time, Lenders having Revolving Credit Exposures and unused Commitments representing more than 50% of the aggregate Revolving Credit Exposures and unused Commitments at such time.

  • Requisite Term Loan Lenders shall in no event mean less than two Term Loan Lenders.

  • 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.

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

  • Majority Facility Lenders with respect to any Facility, the holders of more than 50% of the aggregate unpaid principal amount of the Term Loans or the Total Revolving Extensions of Credit, as the case may be, outstanding under such Facility (or, in the case of the Revolving Facility, prior to any termination of the Revolving Commitments, the holders of more than 50% of the Total Revolving Commitments).

  • Super-Majority Banks means at any time Banks having at least 85% of the aggregate amount of the Commitments or, if the Commitments shall have been terminated, holding Notes evidencing at least 85% of the aggregate unpaid principal amount of the Loans.

  • Supermajority Vote means the affirmative vote of at least seventy-five percent (75%) of the Members.

  • Supermajority means, with respect to any Class of Notes, the holders of at least 66-2/3% of the Aggregate Outstanding Amount of the Notes of such Class.

  • Required Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans outstanding, (b) Revolving L/C Exposures and (c) Available Unused Commitments that, taken together, represent more than 50% of the sum of (x) all Revolving Facility Loans outstanding, (y) all Revolving L/C Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Majority Banks means at any time Banks holding more than 50% of the Commitments, or if the Commitments have been terminated, Banks holding more than 50% of the then aggregate unpaid principal amount of the Advances.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

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

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

  • Tranche B Lenders means the Lenders who hold Tranche B Loans or who have Tranche B Commitments.

  • Requisite Class Lenders means, at any time of determination (i) for the Class of Lenders having Revolving Loan Exposure, Lenders having or holding more than 50% of the aggregate Revolving Loan Exposure of all Lenders, and (ii) for the Class of Lenders having Term Loan Exposure, Lenders having or holding more than 50% of the aggregate Term Loan Exposure of all Lenders.