Requisite Banks definition

Requisite Banks means (a) as of any date of determination if the Commitments are then in effect, Banks having in the aggregate 51% or more of the combined Commitments then in effect and (b) as of any date of determination if the Commitments have then been terminated and there are Loans outstanding, Banks holding Loans aggregating 51% or more of the aggregate outstanding principal amount of the Loans.

Requisite Banks means (a) as of any date of determination if the --------------- Commitment is then in effect, Banks having Pro Rata Shares which are, in the aggregate, a majority of the Pro Rata Shares of the Commitment then in effect and (b) as of any date of determination if the Commitment has then been terminated and there are then any Obligations outstanding, Banks or other creditors holding a majority of the Outstanding Obligations.

Requisite Banks means, as at any date of determination, Banks having at

Examples of Requisite Banks in a sentence

• The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Requisite Banks as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

• If Agent resigns, the Requisite Banks may appoint another Person as a successor Agent which thereupon will become the Agent.

• The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Document in accordance with a request or consent of the Requisite Banks and such request and any action taken or failure to act pursuant thereto shall be binding upon all of the Banks.

• If no successor to the Agent is appointed by the Requisite Banks and accepts such appointment within 30 days after the retiring Agent's notice of resignation, then the retiring Agent may, on behalf of the Banks, appoint a successor Agent, which will be one of the Banks or a commercial banking institution organized under the laws of the United States or a United States branch or agency of a commercial banking institution, and having a combined capital and surplus of at least $250,000,000.

• Agent at any time may request instructions from the Requisite Banks with respect to any action, inaction, failure or approval which, by the terms of this Agreement or any other Loan Document, Agent is permitted or required to take or to grant, and if such instructions are promptly requested, Agent may refrain from taking any action or withhold any approval and may refrain from any action or withhold any approval until it has received such instructions from the Requisite Banks.

More Definitions of Requisite Banks

Requisite Banks means, as at any date of determination, Banks having at --------------- least 51% of the then aggregate unpaid principal amount of the Loans (or if no Loans are then outstanding, Banks having at least 51% of the combined Commitments).

Requisite Banks or any similar terms will include the Agent when acting in its individual capacity. Agent may lend money to, and generally engage in any kind of banking, trust or other business with Borrower to the same extent as any other financial institution.

Requisite Banks means Banks having or holding 66-2/3%, or a greater percentage, of the aggregate Facility Commitments of all Banks.

Requisite Banks or “Pro Rata Share”; provided, with the consent of Requisite Banks, additional extensions of credit pursuant hereto may be included in the determination of “Requisite Banks” or “Pro Rata Share” on substantially the same basis as the B Term Loan Commitments, the B Term Loans, the Revolving Commitments and the Revolving Loans are included on the Closing Date;

Requisite Banks means, at any time, Banks holding at least 70% of the aggregate unpaid amount of the Loans outstanding, or, if no Loans then are outstanding, Banks having at least 70% of the aggregate Commitment then in effect.

Requisite Banks means Banks whose Ratable Shares equal or exceed 51%.

Requisite Banks means (a) as of any date of determination if the Commitments are then in effect, Banks having in the aggregate more than 50% of the combined Commitments then in effect and (b) as of any date of determination if the Commitments have then been terminated and there are Loans and Letter of Credit Usage outstanding, Banks holding Loans aggregating more than 50% of the aggregate outstanding principal amount of the Loans and Letter of Credit Usage.