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Majority Revolving Credit Banks definition

Majority Revolving Credit Banks means (a) so long as the Revolving Credit Aggregate Commitment is outstanding hereunder, at any time Revolving Credit Banks holding not less than 66.66% of the aggregate principal amount of the Revolving Credit Aggregate Commitment and (b) if the Revolving Credit Aggregate Commitment has been terminated, at any time Revolving Credit Banks holding not less than 66.66% of the aggregate principal amount of the Indebtedness then outstanding under the Revolving Credit (provided that, for purposes of determining Majority Revolving Credit Banks hereunder, Indebtedness outstanding under the Swing Line or under any Letter of Credit shall be allocated among the Revolving Credit Banks based on their respective Revolving Credit Percentages; provided however that so long as there are fewer than three Revolving Credit Banks, "Majority Revolving Credit Banks" shall mean all Revolving Credit Banks).
Majority Revolving Credit Banks means all Revolving Credit Banks).
Majority Revolving Credit BanksMajority Term Loan Banks", "Lender" or "Required Lenders", or modify in any other manner the number or percentage of the Banks required to make any determinations or waive any rights hereunder or to modify any provision hereof or thereof without the consent of all of the Banks and any amendment, modification or waiver of the definition of the terms "Lender" and "Required Lenders" or other modification of the number or percentage of the Lenders required to make any determinations to be made by any or all of the Lenders or waive any rights in favor of the Lenders or modifying any provision thereof shall also require the consent of all of the Lenders;

Examples of Majority Revolving Credit Banks in a sentence

  • If any other Event of Default shall have occurred, the Agent, upon the election of the Majority Revolving Credit Banks, may by notice to the Borrower terminate the obligation to make Revolving Credit Loans to the Borrower or to issue Letters of Credit for the account of the Borrower or upon the election of the Swing Line Bank may terminate the obligation to make Swing Line Loans to the Borrower.

  • The Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement in accordance with a request of the Majority Revolving Credit Banks (or, where required, all of the Revolving Credit Banks), and such request and any action taken or failure to act pursuant thereto shall be binding upon the Revolving Credit Banks and all future holders of the Notes or of a Letter of Credit Participation.

  • If any other Event of Default shall have occurred, the Agent, upon the election of the Majority Revolving Credit Banks, may by notice to the Borrower terminate the obligation to make Revolving Credit Loans to the Borrower or to issue Letters of Credit for the account of the Borrower or upon the election of the Swing Line Lender may terminate the obligation to make Swing Line Loans to the Borrower.

  • At such time as the Term Loan has been paid in full, the Agent will act on the instruction of the Majority Revolving Credit Banks with regard to the Real Estate Collateral.


More Definitions of Majority Revolving Credit Banks

Majority Revolving Credit Banks means, at any time, Revolving Credit Banks having unused Revolving Credit Commitments and Revolving Credit Exposures representing greater than 50% of the sum of all unused Revolving Credit Commitments and Revolving Credit Exposures.
Majority Revolving Credit BanksMajority Term Loan Banks" or this Section 14.11; provided, further, that notwithstanding the foregoing, (v) the definition of "Permitted Borrower" may be amended and the Revolving Credit Maturity Date may be extended with the consent of all of the Revolving Credit Banks and (w) any date fixed for payment of principal of or interest on any Term Loan may be postponed or extended with the consent of all the applicable Term Loan Banks; and provided further, that no amendment, waiver or consent shall, unless in writing signed by the Swing Line Bank, do any of the following: (x) reduce the principal of, or interest on, the Swing Line Note or (y) postpone any date fixed for any payment of principal of, or interest on, the Swing Line Note; and provided further, however, that no amendment, waiver, or consent shall, unless in writing and signed by the Agent in addition to all the Banks, affect the rights or duties of the Agent under this Agreement or any other Loan Document. All references in this Agreement to "Banks" or "the Banks" shall refer to all Banks, unless expressly stated to refer to Majority Banks.
Majority Revolving Credit Banks means Revolving Credit Banks having at least 60% of the sum of (a) the aggregate unused amount of the Revolving Credit Commitments at such time PLUS (b) the aggregate outstanding principal amount of the Revolving Credit Loans at such time or, if the Revolving Credit Commitments have terminated, Revolving Credit Banks holding at CREDIT AGREEMENT least 60% of the aggregate outstanding principal amount of the Revolving Credit Loans.
Majority Revolving Credit Banks means (a) so long as the Revolving Credit Aggregate Commitment is outstanding hereunder, at any time Revolving Credit Banks holding not less than 66% of the aggregate principal amount of the Revolving Credit Aggregate Commitment and (b) if the Revolving Credit Aggregate Commitment has been terminated, at any time Revolving Credit Banks holding not less than 66% of the aggregate principal amount of the Indebtedness then outstanding under the Revolving Credit (provided that, for purposes of determining Majority Revolving Credit Banks hereunder, Indebtedness outstanding under the Swing Line or under any Letter of Credit shall be allocated among the Revolving Credit Banks based on their respective Revolving Credit Percentages).
Majority Revolving Credit BanksMajority Term Loan Banks", "Weighted Percentage" or this Section 13.10. Notwithstanding the foregoing, (A) the Revolving Credit Maturity Date may be extended (subject to the terms and conditions of Section 2.16 hereof) only with the consent of Revolving Credit Banks holding aggregate percentages of eighty percent (80%) or more of the Revolving Credit Maximum Amount; (B) any date fixed for payment of principal or mandatory prepayment of or interest on the Term Loan may be postponed or extended with the consent of all the applicable Term Loan Banks, (C) no amendment, waiver or consent shall, unless in writing signed by the Swing Line Bank, do any of the following: (x) reduce the principal of, or interest on, the Swing Line Note or (y) postpone any date fixed for any payment of principal of, or interest on, the Swing Line Note; (D) no amendment, waiver, or consent shall, unless in writing and signed by the Issuing Bank, affect the rights or duties of the Issuing Bank under Article 3 hereof and (E) no amendment, waiver, or consent shall, unless in writing and signed by the applicable Agent in addition to all the Banks, affect the rights or duties of the applicable Agent under this Agreement or any other Loan Document. All references in this Agreement to "Banks" or "the Banks" shall refer to all Banks, unless expressly stated to refer to Majority Banks (or the like).
Majority Revolving Credit Banks or "Supermajority Banks", which shall be required for the Banks or any of them to take any action under this Section or any other provision of this Agreement.
Majority Revolving Credit Banks. As of any date, the Revolving Credit Banks holding at least 51% of the outstanding principal amount of the Revolving Credit Notes on such date; and if no such principal is outstanding, (a) prior to the Exit Facility Date, the Revolving Credit Banks whose aggregate DIP Commitments constitute at least 51% of the Total DIP Commitment and (b) from and after the Exit Facility Date, the Revolving Credit Banks whose aggregate Exit Commitments constitute at least 51% of the Total Exit Commitment.