Required Canadian Revolving Lenders definition

Required Canadian Revolving Lenders means Lenders whose aggregate Canadian Revolving Credit Exposure (as hereinafter defined) constitutes more than 50% of the Canadian Revolving Credit Exposure of all Lenders at such time; PROVIDED, HOWEVER, that if any Lender shall be a Defaulting Lender at such time then there shall be excluded from the determination of Required Canadian Revolving Lenders such Lender and the aggregate principal amount of Canadian Revolving Credit Exposure of such Lender at such time. For purposes of the preceding sentence, the term "CANADIAN REVOLVING CREDIT EXPOSURE" as applied to each Lender shall mean (i) at any time prior to the termination of the Canadian Revolving Commitments, the Canadian Revolving Commitment Percentage of such Lender multiplied by the Canadian Revolving Committed Amount, and (ii) at any time after the termination of the Canadian Revolving Commitments, the sum of (A) the U.S. Dollar Amount of the outstanding Canadian Revolving Loans of such Lender, plus (B) the U.S. Dollar Amount of such Lender's Participation Interests in all -40- Canadian LC Obligations and Canadian Swingline Loans, plus (C) the U.S. Dollar Amount of BA Reimbursement Obligations owing to such Lender. "REQUIRED U.S. REVOLVING LENDERS" means Lenders whose aggregate U.S. Revolving Credit Exposure (as hereinafter defined) constitutes more than 50% of the U.S. Revolving Credit Exposure of all Lenders at such time; PROVIDED, HOWEVER, that if any Lender shall be a Defaulting Lender at such time then there shall be excluded from the determination of Required U.S. Revolving Lenders such Lender and the aggregate principal amount of U.S. Revolving Credit Exposure of such Lender at such time. For purposes of the preceding sentence, the term "U.S. REVOLVING CREDIT EXPOSURE" as applied to each Lender shall mean (i) at any time prior to the termination of the U.S. Revolving Commitments, the U.S. Revolving Commitment Percentage of such Lender multiplied by the U.S. Revolving Committed Amount, and (ii) at any time after the termination of the U.S. Revolving Commitments, the sum of (A) the principal balance of the outstanding U.S. Revolving Loans of such Lender plus (B) the U.S. Dollar Amount of such Lender's Participation Interests in all LC Obligations and Swingline Loans.
Sample 1
Required Canadian Revolving Lenders means at any time Lenders holding at least a majority in interest of the sum of (a) the aggregate unpaid principal amount of the Canadian Revolving Loans outstanding at such time and (b) the aggregate Canadian Unused Revolving Credit Commitments at such time.
Sample 1Sample 2
Required Canadian Revolving Lenders means, at any time, Canadian Revolving Lenders having Canadian Revolving Credit Loans, a share of the Canadian L/C Exposure and unused Canadian Revolving Commitments representing at least a majority of the sum of all Canadian Revolving Credit Loans outstanding, the Canadian L/C Exposure and unused Canadian Revolving Commitments at such time; provided that the Canadian Revolving Credit Loans outstanding, share of Canadian L/C Exposure and unused Canadian Revolving Commitments of any Defaulting Lender shall be disregarded in determining Required Canadian Revolving Lenders at any time. For purposes of determining the Required Canadian Revolving Lenders at any time, the amount of any Canadian Revolving Credit Loans denominated in Canadian dollars and the Canadian L/C Exposure shall be the U.S. Dollar Equivalent thereof at such time, as determined by the Administrative Agent using the then-applicable Exchange Rate.
Sample 1

Examples of Required Canadian Revolving Lenders in a sentence

  • This Amendment shall become effective upon receipt by the Domestic Administrative Agent of counterparts of this Amendment duly executed by the Borrowers, the Guarantors, the Required Lenders, the Required Domestic Revolving Lenders, the Required Canadian Revolving Lenders and the Administrative Agents.


More Definitions of Required Canadian Revolving Lenders

Required Canadian Revolving Lenders means, at any time, the Canadian Revolving Lenders holding in the aggregate more than 50% of (a) the unfunded Canadian Revolving Commitments and the outstanding Canadian Revolving Loans or (b) if the Canadian Revolving Commitments have been terminated, the outstanding Canadian Revolving Loans. The unfunded Canadian Revolving Commitments of, and the outstanding Canadian Revolving Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Canadian Revolving Lenders. For the avoidance of doubt, it is understood and agreed that if a Canadian Revolving Lender includes a Related U.S. Lender such Canadian Revolving Lender shall be deemed to have a single shared Canadian Revolving Commitment for purposes of this definition.
Sample 1
Required Canadian Revolving Lenders means, at any time, the Canadian Revolving Lenders holding in the aggregate more than 50% of (a) the unfunded Canadian Revolving Commitments and the outstanding Canadian Revolving Loans and Canadian L/C Obligations and participations therein or (b) if the Canadian Revolving Commitments have been terminated, the outstanding Canadian Revolving Loans, Canadian L/C Obligations and participations therein (with the aggregate amount of each Canadian Revolving Lender’s risk participation and funded participation in Canadian L/C Obligations being deemed “held” by such Canadian Revolving Lender for purposes of this definition). The unfunded Canadian Revolving Commitments of, and the outstanding Canadian Revolving Loans and Canadian L/C Obligations held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Canadian Revolving Lenders. For the avoidance of doubt, it is understood and agreed that if a Canadian Revolving Lender includes a Related U.S. Lender such Canadian Revolving Lender shall be deemed to have a single shared Canadian Revolving Commitment for purposes of this definition.
Sample 1
Required Canadian Revolving Lenders. “ shall mean, at any time, Canadian Revolving Lenders having Canadian Revolving Credit Loans, a share of the Canadian L/C Exposure and unused Canadian Revolving Commitments representing at least a majority of the sum of all Canadian Revolving Credit Loans outstanding, the Canadian L/C Exposure and unused Canadian Revolving Commitments at such time. For purposes of determining the Required Canadian Revolving Lenders at any time, the amount of any Canadian Revolving Credit Loans denominated in Canadian dollars and the Canadian L/C Exposure shall be the U.S. Dollar Equivalent thereof at such time, as determined by the Administrative Agent using the then-applicable Exchange Rate.
Sample 1

Related to Required Canadian Revolving Lenders

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Canadian Revolving Commitment means, with respect to each Revolving Lender, the commitment, if any, of such Revolving Lender to make Canadian Revolving Loans hereunder up to the amount set forth on Schedule I to the Lender Addendum executed and delivered by such Lender or in the Assignment and Assumption pursuant to which such lender assumed its Canadian Revolving Commitment. The Canadian Revolving Commitment of each Revolving Lender is a sub-commitment of its Revolving Commitment and, as such, may be (a) reduced from time to time pursuant to Section 2.07 and (b) reduced or increased from time to time pursuant to assignments by or to such Revolving Lender pursuant to Section 11.04. The aggregate amount of the Lenders’ Canadian Revolving Commitments on the Closing Date is $40 million.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • New Revolving Lender as defined in Section 2.24.

  • Incremental Revolving Credit Lender means a Lender with an Incremental Revolving Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class as a result of an Incremental Revolving Credit Commitment.

  • Canadian Lenders means the financial institutions listed on the signature pages of the Canadian Credit Agreement and their respective successors and assigns.