Majority of the Lenders definition

Majority of the Lenders means Lenders holding more than 50% of the Aggregate Commitment.

Majority of the Lenders means Lenders with Commitments hereunder of not less than 66 2/3% of the Total Commitment, provided that the "Majority of the Lenders" means 100% of the Lenders for the purpose of voting in respect of any of the following matters: (i) any increase in the Total Commitment or any Commitment or the amount of Borrowings permitted to be outstanding hereunder; (ii) any decrease in any interest or other rate payable hereunder or in any fee payable hereunder; (iii) any extension of the Maturity Date or any reduction or forgiveness of principal of, or interest on, any Borrowing; (iv) any amendment to this definition or to Section 10.13; (v) the release of the Guarantor's Guarantee; (vi) any change to the types of Borrowing other than as contemplated hereunder; (vii) any postponement of any Interest Payment Date; and (viii) any waiver of any Event of Default under Subsections 9.01(8)(11)(12) or (14).

Majority of the Lenders refers to the Lenders that, at any time, jointly hold a percentage that is at least equal to fifty-one percent of the Lenders’ Share of the Credit, provided that they have the favorable vote of Nafin and Bancomext, for as long as said institutions remain the sole Lenders of the Credit.

Examples of Majority of the Lenders in a sentence

• Any such waiver and any consent by the Agent, any Lender, the Majority of the Lenders or all of the Lenders under any provision of this Agreement must be in writing and may be given subject to any conditions thought fit by the person giving that waiver or consent.

• The parties hereto agree that such amendment shall require the consent of the Majority of the Lenders, such consent not to be unreasonably withheld, notwithstanding anything to the contrary set out herein.

• Each of the Lenders hereby acknowledges that, to the extent permitted by applicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority of the Lenders regardless of whether acceleration was made pursuant to Section 10.

• Each of the Lenders hereby acknowledges that, to the extent permitted by applicable law, the remedies provided hereunder to the Lenders are for the benefit of the Lenders collectively and acting together and not severally and further acknowledges that its rights hereunder are to be exercised not severally, but collectively by the Agent upon the decision of the Majority of the Lenders regardless of whether acceleration was made pursuant to Section 12.

• No amendment, modification or waiver of any provision of this Agreement or consent by the Lenders to any departure from any provision of this Agreement is in any way effective unless it is in writing and signed by the Borrowers, in respect of an amendment or modification, and the Majority of the Lenders, in which event the amendment, modification, waiver or consent is effective only in the specific instance and for the specific purpose for which it is given.

More Definitions of Majority of the Lenders

Majority of the Lenders means the Lenders that at any time hold an overall percentage at least equal to 51% (fifty-one percent) of the Lenders’ Share of the Credit, provided that this has the favorable vote of Nafin and Bancomext, for as long as those institutions maintain the status of sole Lenders of the Credit.

Majority of the Lenders means a majority in interest of the Holders of the Notes.

Majority of the Lenders means, at any time, two (2) or more Lenders which in the aggregate have issued Commitments hereunder representing two-thirds (66.67%) or more of the total amount of credit available under the Credit Facilities;

Majority of the Lenders means Lenders whose aggregate Lender's Loan Amount is more than 50% of the Loan Amount.

Majority of the Lenders means a majority in interest of the Senior Notes and the Class B Notes.

Majority of the Lenders means those Lenders the Commitments of which are, in the aggregate, at least 662/3% of the Commitments of all Lenders hereunder.

Majority of the Lenders means Lenders with Commitments hereunder of not less than 66.67% of the Total Commitment, provided that the “Majority of the Lenders” means 100% of the Lenders for the purpose of voting in respect of any of the following matters: (a) any increase in the Total Commitment or any Commitment or the amount of Borrowings permitted to be outstanding hereunder; (b) any decrease in any interest or other rate payable hereunder or in any fee payable hereunder; (c) any reduction or forgiveness of principal of, or interest on, any Borrowing; (d) any amendment to this definition or to Section 10.13; (e) the release of the Kingsway America Guarantee; (f) any change to the types of Borrowing other than as contemplated hereunder; (g) any postponement of any Interest Payment Date; (h) any waiver of any Event of Default under Sections 9.01(8), (11), (12) or (14); (i) any amendment to this Agreement providing for permanent prepayment or repayment of all or any portion of the Credit Facilities; or (j) any amendment to Section 4.01 of this Agreement.