Required Secured Lenders definition

Required Secured Lenders means, at any time, Ad Hoc Secured Lenders holding more than 50% of the aggregate outstanding Term Loans held by all Ad Hoc Secured Lenders at such time.
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Required Secured Lenders means, at any time, the aggregate majority of (a) the Holders of Bank Secured Claims (in principal dollar amount) on the Steering Committee multiplied by 91.1%, plus (b) the Holders of USAM Secured Note Claims (in principal dollar amount) on the USAM Committee multiplied by 8.9%.
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Required Secured Lenders means, with respect to any amendment or waiver hereunder (including any release of Collateral pursuant to Section 19(g), Lenders having the percentage of the Tranche A Commitments and Tranche A Loans specified by Section 9.05 of the 2006 Credit Agreement in order to approve such action; provided, that if any amendment or waiver hereunder that would (A) provide any additional benefits to the Lenders which are not also provided to EDC, (B) alter the application of proceeds of Collateral in any manner adverse to EDC or (C) increase the amount of obligations that are permitted to be secured by the Collateral (except as expressly contemplated hereby), then the consent of the “Required Secured Lenders” shall not be deemed to have been obtained unless EDC shall have also consented to such amendment or waiver.
Sample 1

Examples of Required Secured Lenders in a sentence

  • Except as expressly provided herein, neither this Agreement nor any provision hereof may be waived, amended, modified or terminated except pursuant to an agreement or agreements in writing entered into by the parties hereto, with the consent of the Required Secured Lenders.

  • Subject to any requirement of Bankruptcy Court approval pursuant to Section 1129(a)(5) of the Bankruptcy Code, on the Effective Date, (i) the initial directors of each Debtor shall be appointed by the Required Secured Lenders, and (ii) the officers of each Debtor immediately prior to the Effective Date shall be the initial officers of each Reorganized Debtor.

  • Upon any such resignation, the Required Secured Lenders shall have the right to appoint a successor Collateral Agent reasonably acceptable to NNI.

  • Each Secured Party further agrees that it shall not object to any motion, action or proceeding by the Collateral Trustee (acting at the direction of the Required Secured Lenders) for adequate protection or for relief from the automatic stay or from any other stay in any Insolvency or Liquidation Proceeding or any adequate protection or stay relief granted unless such motion, action, proceeding or relief is in violation of the provisions of this Agreement.

  • If no successor shall have been so appointed by the Required Secured Lenders or 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 Required Secured Creditors, appoint a successor Collateral Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank.

  • Each Loan Party shall take any and all actions as may be necessary, or that the Agent may reasonably request, from time to time, to cause the Agent to obtain exclusive Control of any Letter-of-Credit Rights to the extent constituting Collateral owned by any Loan Party with respect to the letters of credit referred to in the immediately preceding sentence in a manner reasonably acceptable to the Agent and the Required Secured Lenders.

  • With respect to any Commercial Tort Claims in which any Loan Party has any interest, such Loan Party shall execute and deliver such documents as may be necessary or desirable, or that the Required Secured Lenders may reasonably request, to create, perfect and protect the Agent’s or the Required Secured Lenders’ security interest in such Commercial Tort Claim.

  • Mr. Baker will continue as Chairman of the Board and the remaining members of the board of the Reorganized Debtors will be appointed by the Required Secured Lenders.

  • Upon any such resignation, the Required Secured Lenders shall have the right, in consultation with the Borrowers, to appoint a successor Collateral Agent.

  • If no successor shall have been so appointed by the Required Secured Lenders 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 Secured Parties, appoint a successor Collateral Agent reasonably acceptable to NNI, which shall be a bank with an office in New York, New York, or an affiliate of any such bank.


More Definitions of Required Secured Lenders

Required Secured Lenders at any time, the Secured Lenders holding more than 50% of the aggregate unpaid principal amount of the Secured Loans then outstanding.
Sample 1
Required Secured Lenders means, at any time, (i) Revolver Lenders constituting "Required Banks" under (and as defined in) the Revolver Credit Agreement and (ii) Term Lenders constituting "Required Lenders" under (and as defined in) the Term Credit Agreement.
Sample 1

Related to Required Secured Lenders

  • Required Secured Parties has the meaning given to it in the Intercreditor Agreement.

  • Secured Lender means an individual or organization originating a loan in a real estate or business opportunity transac- tion secured by real estate or by the assets of a business or a busi- ness opportunity.

  • Required Secured Creditors means (i) at any time when any Credit Document Obligations are outstanding or any Commitments under the Credit Agreement exist, the Required Lenders (or, to the extent provided in Section 13.12 of the Credit Agreement, each of the Lenders) and (ii) at any time after all of the Credit Document Obligations have been paid in full and all Commitments under the Credit Agreement have been terminated and no further Commitments may be provided thereunder, the holders of a majority of the Other Obligations.

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Subordinated Lenders means the holders of Subordinated Debt.

  • Required Lenders means, at any time, Lenders having Revolving Exposures, Term Loans and unused Commitments representing more than 50% of the sum of the total Revolving Exposures, outstanding Term Loans and unused Commitments at such time.

  • Requisite Lenders means Lenders having (a) more than 50% of the Commitments of all Lenders, or (b) if the Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Loans.

  • First Lien Credit Documents means the “Credit Documents” as defined in the First Lien Credit Agreement.

  • Majority Revolving Lenders at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time)); provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Second Lien Lenders means the “Lenders” under and as defined in the Second Lien Credit Agreement.

  • First Lien Lenders means the “Lenders” under and as defined in the First Lien Credit Agreement.

  • DIP Lenders has the meaning assigned to such term in Section 2.05(b).

  • Second Lien Credit Agreement means that certain Second Lien Credit Agreement, dated as of December 30, 2020, among Vine Energy Holdings LLC, as borrower, the lenders from time to time party thereto and Xxxxxx Xxxxxxx Senior Funding, Inc. as Administrative Agent (as defined therein) and Collateral Agent (as defined therein), as further amended, restated, amended and restated, extended, supplemented or otherwise modified from time to time

  • Bank Lenders means the banks and financial institutions party to the Bank Credit Agreement.

  • Subordinated Lender means each Seller, in its capacity as subordinated lender pursuant to the relevant Subordinated Loan Agreement.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • First Lien Credit Agreement means the Credit Agreement, dated as of the Closing Date, among Holdings, the Borrower, the guarantors party thereto, the lenders party thereto, the other parties from time to time party thereto, and the First Lien Administrative Agent.

  • Majority Lenders means a Lender or Lenders whose Commitments aggregate more than 662/3% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 662/3% of the Total Commitments immediately prior to the reduction).

  • Supermajority Lenders means, at any time, Lenders having or holding more than 66 2/3% of the aggregate Revolving Loan Exposure of all Lenders; provided, that (i) the Revolving Loan Exposure of any Defaulting Lender shall be disregarded in the determination of the Supermajority Lenders, and (ii) at any time there are two or more Lenders (who are not Affiliates of one another), “Supermajority Lenders” must include at least two Lenders (who are not Affiliates of one another or Defaulting Lenders).

  • Required Prepayment Lenders the Majority Facility Lenders in respect of each Facility.

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Term Loan Agent means “Term Loan Agent” as defined in the Intercreditor Agreement.

  • Tranche B Lenders means the Lenders who hold Tranche B Loans or who have Tranche B Commitments.

  • Majority Revolving Credit Lenders means Lenders having more than 50% of the sum of all Revolving Credit Loans outstanding, LC Exposure and unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the aggregate outstanding amount of all Revolving Credit Loans and LC Exposure, held or deemed held by any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Credit Lenders.

  • DIP Lender means a lender under the DIP Facility.

  • Priority Lien Secured Parties means the holders of Priority Lien Obligations and any Priority Debt Representatives.