Majority Financiers definition
Examples of Majority Financiers in a sentence
The Facility Agent will not be liable for acting or from refraining from acting in accordance with any instructions of the Majority Financiers.
The Majority Financiers will have the right, in consultation with the Borrower, to appoint a successor Facility Agent on the resignation or removal of the Facility Agent in accordance with clause 21.22(a).
In the absence of any instructions from the Majority Financiers the Facility Agent may act or refrain from acting as it sees fit, provided it has used reasonable endeavours to obtain instructions from the Majority Financiers.
In the event of the Liquidation of a Transaction Party (other than a solvent reconstruction, amalgamation, merger or consolidation that has previously been approved in writing by the Mezzanine Agent (acting on the instructions of the Majority Financiers)), each Guarantor authorises each Mezzanine Finance Party to prove for all money which any Guarantor has paid or is or may be obliged to pay under any Mezzanine Finance Document, any other document or agreement or otherwise in respect of the Secured Moneys.
Subject to paragraph (b) and clause 4.3 of this Schedule, the Facility Agent must act or refrain from acting in the exercise of any right or power, or as to any matter not expressly provided for by this Schedule, in accordance with the instructions of the Majority Financiers and shall be fully protected in so doing.
In the event of the Liquidation of a Transaction Party (other than a solvent reconstruction, amalgamation, merger or consolidation that has previously been approved in writing by the Senior Agent (acting on the instructions of the Majority Financiers)), each Guarantor authorises each Senior Finance Party to prove for all money which any Guarantor has paid or is or may be obliged to pay under any Senior Finance Document, any other document or agreement or otherwise in respect of the Secured Moneys.
The Borrowers shall not be concerned or required to enquire as to whether the Facility Agent has been given any instructions by the Majority Financiers or as to the terms of any instructions so given.
A Transaction Party must not amend its memorandum and articles of association, articles of incorporation, articles of organization, by-laws, constitution, operating agreement, or other constating documents (as applicable) without the Agent’s prior written consent (acting on the instructions of the Majority Financiers), which consent must not be unreasonably withheld or delayed.
The Borrower must not Dispose of the Product to any person (a Third Party Purchaser) other than Macquarie Bank Limited without the prior written consent of the Agent (acting on the instructions of the Majority Financiers).
If no successor Agent is appointed within 20 Business Days, the Agent (acting on the instructions of the Majority Financiers) may appoint a successor Agent.