Required LC Participants means the LC Participants whose Pro Rata Shares aggregate 66⅔% or more.
Required LC Participants means, at any time, LC Participants whose aggregate LC Sublimit Commitments are 66 2/3% or more of the aggregate of the LC Sublimit Commitments of all LC Participants.
Required LC Participants means, at any time, the LC Participants whose Pro Rata Shares aggregate 66 2/3 % or more.
Examples of Required LC Participants in a sentence
Except as otherwise provided in Section 4.1(d), neither the Seller nor the Servicer may assign or transfer any of its rights or delegate any of its duties hereunder or under any Transaction Document without the prior consent of the Administrator, the LC Bank, the Required LC Participants and the Purchaser Agents.
More Definitions of Required LC Participants
Required LC Participants means, at any time, LC Participants (excluding MII, the Company and any of their respective Subsidiaries and Affiliates) having Aggregate Credit Exposures at such time representing at least 66 2/3% of the Aggregate Credit Exposures for all LC Participants (excluding MII, the Company and any of their respective Subsidiaries and Affiliates) at such time.
Required LC Participants means the LC Participants whose Pro Rata Shares aggregate 66⅔% or more. “Restricted Originator” has the meaning set forth in Section 4.3(b) of the Sale Agreement. “Restricted Originator Concentration Limit” means, for any Restricted Originator, the difference (not to be less than zero) of (a) the lesser of (i) 5% of the Outstanding Balance of the Receivables Pool as of the date such Restricted Originator became an Originator, and (ii) $35,000,000, minus, (b) the aggregate Outstanding Balance of the Receivables sold by each other Restricted Originator that became an Originator prior to the addition of such Restricted Originator, in each case, as of the date such Restricted Originator became an Originator. “Restricted Payments” has the meaning set forth in Section 1(m) of Exhibit IV to this Agreement. “Review” means an Originator Review, a Seller Review or a Servicer Review, as applicable. “Sale Agreement” means the Purchase and Sale Agreement, dated as of the Closing Date between the Seller and the Originators, as the same may be amended, restated, supplemented or otherwise modified from time to time. “Sanctioned Country” means a country subject to a sanctions program identified on the list maintained by OFAC and available at xxxx://xxx.xxxxx.xxx/offices/enforcement/ofac/programs, or as otherwise published from time to time. “Sanctioned Person” means (i) a Person named on the list of “Specially Designated Nationals” or “Blocked Persons” maintained by OFAC available at xxxx://xxx.xxxxx.xxx/offices/enforcement/ofac/sdn, or as otherwise published from time to time, or (ii) (a) an agency of the government of a Sanctioned Country, (b) an organization controlled by a Sanctioned Country or (c) a Person resident in a Sanctioned Country, to the extent subject to a sanctions program administered by OFAC. “SEC” means the U.S. Securities and Exchange Commission. “Seller” has the meaning set forth in the preamble to this Agreement. “Seller Material Adverse Effect” means a material adverse effect on any of the following:
Required LC Participants without the prior written consent of the LC Bank and all LC Participants; (vi) waive any Termination Event arising from an Event of Bankruptcy with respect to Seller, the Servicer, any Sub-Servicer or any Originator; (vii) without the prior written consent of the LC Participant affected thereby, waive, amend or otherwise modify the definition of Scheduled Commitment Termination Date for such LC Participant; (viii) amend, modify or otherwise affect the rights or duties of the Administrator or the LC Bank hereunder without the prior written consent of the Administrator or the LC Bank, as the case may be; and (ix) amend, waive or modify any definition or provision expressly requiring the consent of the Required LC Participants without the prior written consent of the LC Bank and the Required LC Participants, and, in the case of any amendment, by the other parties thereto; and then such amendment, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. No failure on the part of the Issuer or the Administrator to exercise, and no delay in exercising any right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right hereunder preclude any other or further exercise thereof or the exercise of any other right.