Required Tranche 1 Lenders definition

Required Tranche 1 Lenders means, at any time, the Tranche 1 Lenders whose Tranche 1 Commitments (or, after the Tranche 1 Termination Date, Tranche 1 Credit Exposure) represent at least a majority of the aggregate, at such time, of the Tranche 1 Commitments (or, after the Tranche 1 Termination Date, the aggregate Tranche 1 Credit Exposure); provided that the Tranche 1 Commitment of, and the Tranche 1 Credit Exposure held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Tranche 1 Lenders.

Required Tranche 1 Lenders means, at any time, Tranche 1 Lenders having Total Tranche 1 Credit Exposures representing more than 50% of the Total Tranche 1 Credit Exposures of all Tranche 1 Lenders. The Total Tranche 1 Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Tranche 1 Lenders at any time; provided that, the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Tranche 1 Lender shall be deemed to be held by the Tranche 1 Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination.

Required Tranche 1 Lenders means, at any time, Tranche 1 Lenders having Total Tranche 1 Credit Exposures representing more than 50% of the Total Tranche 1 Credit Exposures of all Tranche 1 Lenders. The Total Tranche 1 Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Tranche 1 Lenders at any time.

Examples of Required Tranche 1 Lenders in a sentence

• Notwithstanding anything to the contrary contained herein, upon the request of the Required Tranche 1 Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.

• During the existence of an Event of Default, (i) no Tranche 1 Loans may be requested as, converted to or continued as Eurocurrency Rate Loans having Interest Periods of greater than one month without the consent of the Required Tranche 1 Lenders and (ii) no Tranche 2 Loans may be requested as, converted to or continued as Eurocurrency Rate Loans having Interest Periods of greater than one month without the consent of the Required Tranche 2 Lenders.

• Thereafter, the obligation of the Tranche 1 Lenders to make or maintain Eurocurrency Rate Loans in the affected currency or currencies shall be suspended until the Administrative Agent (upon the instruction of the Required Tranche 1 Lenders) revokes such notice.

• The Designated Agent shall have received one or more counterparts of this Amendment duly executed by (i) each Loan Party, (ii) the Lenders constituting no less than the Required Lenders, Required Tranche 1 Lenders and Required Tranche 2 Lenders and (iii) each Second Amendment Additional Lender.

• The Administrative Agent shall act hereunder at the direction, or with the consent, of the Required Tranche 2 Lenders (and, if any Tranche 1 Letters of Credit are outstanding as Secured Letters of Credit at such time, the Required Tranche 1 Lenders) on the terms and conditions set forth in the Credit Agreement.

More Definitions of Required Tranche 1 Lenders

Required Tranche 1 Lenders means, at any time, the Tranche 1 Lenders whose Tranche 1 Commitments (or, after the Tranche 1 Termination Date, Tranche 1 Credit Exposure) represent at least a majority of the aggregate, at such time, of the Tranche 1 Commitments (or, after the Tranche 1 Termination Date, the aggregate Tranche 1 Credit Exposure), provided that the Commitment of, and the portion of the outstanding Tranche 1 Credit Exposure held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Tranche 1 Lenders.

Required Tranche 1 Lenders means (a) from the Effective Date until the Closing Date, Lenders having unused Tranche 1 Commitments representing more than 50% of the sum of the aggregate unused Tranche 1 Commitments at such time (excluding for purposes of any such calculation the unused Tranche 1 Commitments of Defaulting Lenders) and (b) from the Closing Date and thereafter, Lenders holding more than 50% of the unused Tranche 1 Commitments and aggregate outstanding principal amount of Tranche 1 Advances at such time (excluding for purposes of any such calculation the unused Tranche 1 Commitments and outstanding Tranche 1 Advances of Defaulting Lenders).

Required Tranche 1 Lenders means, at any time, Tranche 1 Lenders having Total Tranche 1 Credit Exposures representing more than 50% of the Total Tranche 1 Credit Exposures of all Tranche 1 Lenders. The Total Tranche 1 Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Tranche 1 Lenders at any time; provided that, the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to and funded by another Tranche 1 Lender shall be deemed to be held by the Tranche 1 Lender that is the applicable Swing Line Lender or applicable L/C Issuer, as the case may be, in making such determination.

Required Tranche 1 Lenders and “Required Tranche 2 Lenders” and Section 11.01. (ii)

Required Tranche 1 Lenders means, as of any date of determination, Tranche 1 Lenders having more than 50% of the Aggregate Tranche 1 Commitments or, if the commitment of each Tranche 1 Lender to make Tranche 1 Loans, the commitment of the U.S. Swing Line Lender to make U.S. Swing Line Loans and the obligation of the L/C Issuers to make L/C Credit Extensions have been terminated pursuant to Section 8.02, Tranche 1 Lenders holding in the aggregate more than 50% of the Total Tranche 1 Outstandings (with the aggregate amount of each Tranche 1 Lender’s risk participation and funded participation in L/C Obligations and U.S. Swing Line Loans being deemed “held” by such Tranche 1 Lender for purposes of this definition); provided that the Tranche 1 Commitment of, and the portion of the Total Tranche 1 Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Tranche 1 Lenders.

Required Tranche 1 Lenders or amend, modify or waive any condition precedent to any Borrowing of Loans set forth in SECTION 5.2 (including in connection with any waiver of an existing Default or Event of Default) without the consent of the Required Tranche 1 Lenders;

Required Tranche 1 Lenders means Lenders having outstanding Tranche 1 Loans representing more than 50% of the total outstanding Tranche 1 Loans at such time.