Majority Term Lenders definition

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 Term Lenders at any time with respect to any Term Facility, Term Lenders that are non-Defaulting Lenders having Term Loans and unused and outstanding Term Commitments with respect to such Term Facility representing more than 50% of the sum of all Term Loans outstanding and unused and outstanding Term Commitments with respect to such Term Facility at such time.

Majority Term Lenders means, at any time, Term Lenders whose Term Loans represent an amount greater than 50% of the Term Obligations on such date.

Examples of Majority Term Lenders in a sentence

• Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 10.1 and in the definitions of Majority Revolving Lenders, Majority Term Lenders and Required Lenders.

• In addition, as provided in the Credit Agreement and except as set forth in the Credit Agreement, the Overadvance Term Lender shall be bound by all modifications, extensions of maturity, waivers and amendments to the Credit Agreement executed by the Agent, Lenders, Majority Lenders and/or Majority Term Lenders (as applicable) and that none of same shall require advance notice to, or the consent of, any Overadvance Term Lender.

• Majority Term Lenders may at any time revoke Administrative Agent’s authority to make further Protective Advances under clause (a) by written notice to Administrative Agent.

• Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 10.1 and in the definitions of Majority Term Lenders and Required Lenders.

• In addition, the Term Lender Agent will not, without the consent of Majority Term Lenders, direct the Collateral Agent to take any "Enforcement Action" (as defined in the Intercreditor Agreement), give any consent under Section 2.3(e) or 7.3 of the Intercreditor Agreement, or make any election or designation under Section 3.2(d) of the Intercreditor Agreement.

More Definitions of Majority Term Lenders

Majority Term Lenders means Term Lenders having more than fifty percent (50%) of the total Term Loan Exposures at the time of determination.

Majority Term Lenders means (a) other than as provided in clauses (b) and (c) below, Term Lenders holding greater than 50% of the sum of (i) the aggregate unfunded Term Commitments at such time plus (ii) the aggregate unpaid principal amount of the Term Notes, (b) at any time when there are only two Term Lenders, both Term Lenders, and (c) at any time when there is only one Term Lender, such Term Lender; provided that, in any event, if there are two or more Term Lenders, the Term Commitment of, and the portion of the Term Advances held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders unless all Term Lenders are Defaulting Lenders.

Majority Term Lenders means (i) at any time prior to the --------------------- Closing Date, Lenders holding at least a majority of the Term Loan Commitments, and (ii) at any time after the Closing Date, Lenders holding at least a majority of the sum of the aggregate principal amount of outstanding Term Loans.

Majority Term Lenders means, at any time, Lenders having Term Loans, New Term Loans and Refinancing Term Loans and unused Term Commitments, unused New Term Commitments and unused Refinancing Term Commitments representing greater than 50% of the sum of all Term Loans outstanding, all New Term Loans outstanding (if any), all Refinancing Term Loans outstanding (if any) and all unused Term Commitments, unused New Term Commitments (if any) and unused Refinancing Term Commitments (if any) at such time.

Majority Term Lenders means at any time Term Lenders whose Pro Rata Shares aggregate more than 50%.

Majority Term Lenders means (a) at any time when there are more than two Term Lenders, Term Lenders holding more than 50% of the then aggregate unpaid principal amount of the Term Notes and (b) at any time when there are one or two Term Lenders, all of the Term Lenders.

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. “Mandatory Prepayment Date”: as defined in Section 2.12(e). “Material Adverse Effect”: (a) a material adverse change in, or a material adverse effect on, the operations, business, assets, properties, liabilities (actual or contingent) or financial condition of the Group Members, taken as a whole; (b) a material impairment of the rights and remedies, taken as a whole, of the Administrative Agent or any Lender under any Loan Document, or of the ability of the Borrower or any Loan Party, taken as a whole, to perform its material respective obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower or any Loan Party of any material Loan Document to which it is a party. “Materials of Environmental Concern”: any substance, material or waste that is defined, regulated, governed or otherwise characterized under any Environmental Law as hazardous or toxic or as a pollutant or contaminant (or by words of similar meaning and regulatory effect), any petroleum or petroleum products, asbestos, polychlorinated biphenyls, urea-formaldehyde insulation, molds or fungus, and radioactivity, radiofrequency radiation at levels known to be hazardous to human health and safety.