Required Counterparties definition

Required Counterparties means, as of any date of determination, Participating Counterparties that collectively hold a majority of the aggregate gross principal balance of Applicable Agreements to which one or more Companies is a party as of such date of determination.
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Required Counterparties means the Participating Counterparties listed on Schedule 7 hereto.
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Required Counterparties means, from time to time as applicable, the Counterparties entitled to payment of more than 50% of the aggregate amount of outstanding Payment Obligations in respect of all outstanding Financing Agreements, as determined in good faith by TMI, which determination shall be binding absent demonstrable error. Upon the written request of the Collateral Agent from time to time, TMI agrees to send to the Collateral Agent and the Counterparties a schedule of such aggregate amounts. Notwithstanding the foregoing, during the continuation of an Override Termination Event, the Collateral Agent may, at its election, determine the amount of outstanding Payment Obligations based on such information as it considers reasonable to use under the circumstances in its sole discretion.
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Examples of Required Counterparties in a sentence

  • During the Forbearance Period and provided that no Triggering Event shall have occurred, but subject to the provisions of Section 7 hereof, no Participating Counterparty may sell or otherwise transfer (either directly or indirectly) any claim it may have arising out of any Applicable Agreement to any person other than another Participating Counterparty, or an affiliate thereof that expressly agrees to be bound by the terms of this Agreement, without the prior written consent of the Required Counterparties.

  • Upon any such resignation, the Required Counterparties shall have the right, in consultation with TMI, to appoint a successor reasonably acceptable to the Companies.

  • If no successor shall have been so appointed by the Required Counterparties and shall have accepted such appointment within 30 days after the retiring Collateral Agent gives notice of its resignation, then the retiring Collateral Agent may, on behalf of the Counterparties, appoint a successor Collateral Agent, which shall be a bank or broker-dealer with an office in New York, New York or an Affiliate of any such bank or broker-dealer.

  • During the Forbearance Period and provided that no Triggering Event shall have occurred, but subject to the provisions of Section 7 hereof, no Participating Counterparty may sell or otherwise transfer any claim it may have arising out of any Applicable Agreement to any person other than another Participating Counterparty, or an affiliate thereof that expressly agrees to be bound by the terms of this Agreement, without the prior written consent of the Required Counterparties.

  • The Collateral Agent shall not be required to exercise such right to vote, to give consents, ratifications and waivers and/or to take any other action with respect to such Collateral unless and until it receives written direction from the Required Counterparties to do so.

  • Within two Business Days after it receives or sends any notice referred to in this Section 7.07, the Collateral Agent shall send to each Counterparty copies of any notice given by the Collateral Agent to any Company, or received by it from any Company, the Required Counterparties or any Counterparty, pursuant to Article 6 or Section 7.05.