Required Applicable Banks definition
Required Applicable Banks means, with respect to any Applicable Tranche, Banks having more than 50% of the aggregate outstanding Applicable Tranche Commitments in such Applicable Tranche or, after the Revolving Credit Termination Date, more than 50% of the aggregate Applicable Tranche Revolving Loans outstanding (including participating interests in Applicable Tranche Swingline Loans) in such Applicable Tranche.
Required Applicable Banks with respect to an Applicable Tranche without the written consent of each Applicable Bank in such Applicable Tranche, (ii) reduce the principal amount of or extend the scheduled date of payment for any Advance made by any Bank beyond the Revolving Credit Termination Date, or reduce the rate or extend the time of payment of interest thereon without the consent of such Bank, (iii) reduce the rate or extend the time of payment of any commitment fee owed to any Bank without the consent of such Bank, (iv) adjust the amount of the Applicable Tranche Commitment of any Bank except as otherwise permitted herein or postpone the scheduled date of expiration of any Applicable Tranche Commitment without the consent of such Bank, (v) amend Section 2.6, 3.4(b) (solely with respect to pro rata treatment of payments to the Banks), 4.3 (solely with respect to pro rata treatment of payments to the Banks), this Section 9.2, or Section 12.1(b) or (c) without the consent of each Bank directly affected thereby, (vi) extend the Revolving Credit Termination Date of any Loan made by any Bank without the consent of such Bank, (vii) permit the Company to assign its rights under this Agreement without the consent of all of the Banks, (viii) subject to clause (c) below, amend the definition of “Eligible Assets”, “Advance Rate”, “Concentration Policy”, “Minimum Credit Rating”, “Borrowing Base”, “Clearing Fund Borrowing Base”, “Company Borrowing Base” and “Discounted Value”, the provisions of Annex I hereto or Section 5.2(e), (f), (g), (h), (i), (j) or (k) hereto, in each case without the consent of the Supermajority Banks, (ix) release any of the Collateral from the Lien granted pursuant to the Collateral Documents to the extent that on the date of such release the aggregate outstanding principal amount of all Clearing Fund Pool Loans for the applicable Clearing Business or all Company Pool Loans exceed, or will immediately after such release and any concurrent redesignation pursuant to Section 2.13 exceed, the applicable Borrowing Base, other than as permitted by this Agreement or any other Loan Document (including without limitation Section 2.9 of this Agreement) without the consent of the Supermajority Banks, (x) amend, modify or waive any provision of Section 2.11 or the definition of the term “Defaulting Bank” (or the definition of any component thereof) without the consent of the Required Banks and the Administrative Agent (for the avoidance of doubt, this clause (x) shall be the ...
Required Applicable Banks means, with respect to any Applicable Tranche, Banks having more than 50% of the aggregate outstanding Applicable Tranche Commitments or, after the Revolving Credit Termination Date, more than 50% of the aggregate Applicable Tranche Revolving Loans outstanding (including funded participating interests in Applicable Tranche Swingline Loans).
Examples of Required Applicable Banks in a sentence
Any such amendment shall become effective at 5:00 p.m. on the fifth (5th) Business Day after the Administrative Agent shall have posted such proposed amendment to all Banks and the Company unless, prior to such time, Banks comprising the Required Applicable Banks in the Applicable Tranche have delivered to the Administrative Agent written notice that such Required Applicable Banks object to such amendment.
For purposes of this Section 11.9(e), those Banks that either have not made, or do not have an obligation under this Agreement to make, the relevant Loans in U.S. Dollars shall be excluded from any determination of Required Applicable Banks.
For purposes of this Section 11.9(f), those Banks that either have not made, or do not have an obligation under this Agreement to make, the relevant Loans in the Applicable Currency shall be excluded from any determination of Required Applicable Banks.
For the purposes of this Section 11.9(j), those Banks that either have not made, or do not have an obligation under this Agreement to make, the relevant Loans in Canadian Dollars shall be excluded from any determination of Required Applicable Banks.
More Definitions of Required Applicable Banks
Required Applicable Banks means, with respect to any Applicable Tranche, Banks having more than 50% of the aggregate outstanding Applicable Tranche Commitments in such Applicable Tranche or, after the Revolving Credit Termination Date, more than 50% of the aggregate Applicable Tranche Revolving Loans outstanding (including participating interests in Applicable Tranche Swingline Loans) in such Applicable Tranche. Required Banks means Banks having more than 50% of the sum of the Aggregate Commitments or, after the Revolving Credit Termination Date, more than 50% of the aggregate Revolving Loans outstanding (including participating interests in Swingline Loans). Rescindable Amount has the meaning as defined in Section 4.3(b). Resignation Effective Date has the meaning set forth in Section 10.6. Resolution Authority means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution Authority. Responsible Officer means each of the individuals serving in the role of Chief Executive Officer, Chief Financial Officer, Treasurer, Assistant Treasurer, Secretary and Assistant Secretary of CME. Revaluation Date means, with respect to any Loan denominated in an Alternative Currency under an Applicable Tranche, each of the following: (i) each date of an Advance denominated in an Alternative Currency, (ii) while a Loan denominated in an Alternative Currency is outstanding on any date upon the request of (A) the Administrative Agent or (B) the Required Applicable Banks with respect to Loans outstanding under any Applicable Tranche and (iii) such additional dates as the Company may reasonably request from time to time. Revolving Credit Termination Date means April 22, 2026 or any earlier date on which the Aggregate Commitments are terminated pursuant to this Agreement. Revolving Loan has the meaning set forth in Section 2.1. Revolving Loans may be denominated in U.S. Dollars or Alternative Currencies, as the case may be for each Applicable Tranche as indicated on Schedule 1.1. Rules means the collective reference to the CME Rules, the CBOT Rules, the NYMEX Rules and the rules of any other exchange which is qualified to clear trades through the Clearing House. S&P -Hill Companies, Inc. and any successor thereto. Sanction(s) means any international economic sanction administered or enforced by the United States Government (including without limitation, OFAC), the United Nations Security Council, the European Union, His , the U.S. Department of State, the Hong Kong Mone...