Required Senior Lenders definition

Required Senior Lenders means “Required Lenders” as such term is defined in the Senior Credit Agreement.

Required Senior Lenders means, as of any date of determination, the Senior Lenders that, collectively, on such date hold in excess of fifty percent (50%) of the sum of (i) the Principal Amount Outstanding and (ii) the unused Commitments (excluding in each such case any Senior Lender that is a Defaulting Lender, a Loan Party, the Sponsor, a Material Project Party or an Affiliate or Subsidiary thereof, and each Commitment and any Principal Amount Outstanding of any such Senior Lender).

Required Senior Lenders has the meaning ascribed thereto in the Intercreditor Agreement.

Examples of Required Senior Lenders in a sentence

• Any modification or waiver of any provision of this Agreement, or any consent to any departure by any party from the terms hereof, shall not be effective in any event unless the same is in writing and signed by the Required Revolving Lenders (as defined in the Senior Credit Agreement), Required Senior Lenders and Subordinated Lenders, and then such modification, waiver or consent shall be effective only in the specific instance and for the specific purpose given.

• Until the Discharge of Senior Debt, neither the Subordinated Agent nor the Subordinated Secured Parties shall, without the prior written consent of Agent (acting at the written direction of the Required Senior Lenders and Required Revolving Lenders (as defined in the Senior Credit Agreement)), take any Enforcement Action with respect to the Subordinated Debt (including any Collateral therefor) other than Permitted Subordinated Actions.

• Subordinated Agent agrees to execute such releases with respect to the Collateral to be sold as Agent (acting at the written direction of the Required Senior Lenders) reasonably requests at the sole expense of the Companies; provided, that the failure of Subordinated Agent to execute such releases shall not affect the right of the purchaser of such Collateral to rely on this Agreement.

• Without limiting the foregoing, without the prior consent of the Required Senior Lenders and the Required Revolving Lenders,in no event may any Person (other than a Person that is a Subordinated Lender on the date hereof or an Affiliate thereof (excluding, for this purpose, an Affiliate that is a Company or a subsidiary of each Company)) constitute a Subordinated Lender, including in connection with any incremental facility extended from time to time under the Subordinated Credit Agreement.

More Definitions of Required Senior Lenders

Required Senior Lenders means, at any time, Senior Lenders having Senior Loans, LC Exposure, unused Revolving Credit Commitments and, prior to the funding of the Term Loans, unused Term Loan Commitments representing more than 50% of the sum of the total Senior Loans and LC Exposure then outstanding plus unused Revolving Credit Commitments and unused Term Loan Commitments at such time.

Required Senior Lenders means Required Holders and Required Lenders.

Required Senior Lenders means, at any time, both (a) the Requisite Lenders and (b) the Required Holders; provided that if the Collateral Agent shall have received (i) inconsistent written requests or directions from the Required Lenders and the Required Holders or (ii) a written request or direction from only one such group and the Collateral Agent shall have notified the Bank Agent and the Noteholders to such effect but shall not have received a written request or direction from the Required Senior Lenders within 30 days of such notice, “Required Senior Lenders” shall mean the Supermajority Lenders.

Required Senior Lenders means (a) on or prior to the Senior Loan Discharge Date, the Required Lenders as defined in the Senior Loan Agreement and (b) following the Senior Loan Discharge Date, the “Required Lenders” or words of similar import as defined in any New Financing Equivalent.

Required Senior Lenders means at any date of determination, Senior Lenders holding more than 50% of the sum of the Senior Lender Exposure.

Required Senior Lenders at any time shall mean both (a) the Required Bank Lenders, and (b) the Required Holder(s).

Required Senior Lenders mean those Senior Lenders required under the Senior Credit Agreement in respect of the Senior Indebtedness for approval of the amendment, change, waiver, discharge, termination or other instruction to the Senior Agent under the Senior Credit Agreement necessary to accomplish the act contemplated herein.