Supermajority Required Lenders definition
Supermajority Required Lenders means, as of any date of determination, Lenders having more than 75% of the sum of the (a) Total Outstandings (with the aggregate amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition), and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Supermajority Required Lenders.
Supermajority Required Lenders at any time, the holders of more than 66.67% of the Total Revolving Credit Commitments then in effect or, if the Revolving Credit Commitments have been terminated, the Total Revolving Credit Exposure; provided that the Revolving Credit Exposure and Revolving Credit Commitment of any Defaulting Lender shall be disregarded in making any determination under this definition. In the event that there are less than three (3) unaffiliated Lenders party to the Loan Documents, the Supermajority Required Lenders shall be all Lenders.
Supermajority Required Lenders means, at any time, Lenders (other than Delinquent Lenders) having Commitments aggregating more than 75% of the Total Commitments, or if the Commitments have been terminated, Lenders (other than Delinquent Lenders) whose percentage of the outstanding Credit Extensions (calculated assuming settlement and repayment of all Swingline Loans by the Lenders) aggregate more than 75% of all such Credit Extensions.
Examples of Supermajority Required Lenders in a sentence
Any exercise of rights by Administrative Agent pursuant to clause (ii) of the immediately preceding sentence shall be subject to the approval of Supermajority Required Lenders in the case of adjustments, new criteria or changes in advance rates which have the effect of making more credit available.
Borrowers, Agent and the Supermajority Required Lenders wish to amend certain terms and provisions of the Loan Agreement as hereafter set forth.
Borrower, Agent and the Supermajority Required Lenders wish to amend certain terms and provisions of the Loan Agreement as hereafter set forth.
Agent and the Supermajority Required Lenders shall have executed this Second Amendment and shall have received a counterpart to this Second Amendment, duly executed by each Loan Party.
More Definitions of Supermajority Required Lenders
Supermajority Required Lenders means at any time, the holders of more than 66.67% of the Total Revolving Credit Commitments then in effect or, if the Revolving Credit Commitments have been terminated, the Total Revolving Credit Exposure; provided that the Revolving Credit Exposure and Revolving Credit Commitment of any Defaulting Lender shall be disregarded in making any determination under this definition. In the event that there are (x) less than three (3) unaffiliated Lenders party to the Loan Documents, the Supermajority Required Lenders shall be all Lenders or (y) three (3) or more unaffiliated Lenders party to the Loan Documents, the Supermajority Required Lenders shall include each Lender, if, and only if, at the time of any relevant amendment, consent waiver or other modification (1) Specified Availability has been less than the greater of (a) 15.0% of the Line Cap and (b) $15,000,000 for a period of five (5) consecutive Business days and (2) such Lender’s Revolving Credit Commitment at such time is greater than 65% of its Revolving Credit Commitment as of the Closing Date.
Supermajority Required Lenders means, at any time, Lenders owed or holding at least two-thirds of the sum of (without duplication) (a) the aggregate principal amount of the Advances outstanding at such time plus (b) the aggregate amount of all LC Facility Letter of Credit Obligations outstanding at such time plus (c) the aggregate amount of all Unused LC Facility Commitments at such time plus (d) the aggregate amount of all Unused Working Capital Commitments at such time plus (e) the aggregate amount of all Unused Delayed Draw Term Loan Commitments at such time; provided, however, that if any Lender shall be a Defaulting Lender at such time, there shall be excluded from the determination of Supermajority Required Lenders at such time (A) the aggregate principal amount of the Advances owing to such Lender (in its capacity as a Lender) and outstanding at such time, (B) such Lender’s Pro Rata Share of the aggregate amount of all Unused Working Capital Commitments outstanding at such time and (C) such Lender’s Pro Rata Share of the aggregate amount of all Unused Delayed Draw Term Loan Commitments at such time.
Supermajority Required Lenders means, at any time, Lenders having Revolving Exposures and unused Commitments representing more than 66 2/3% of the sum of (a) the aggregate Revolving Exposure outstanding at such time and (b) the aggregate unused Commitments in effect at such time.
Supermajority Required Lenders at any time, the holders (other than Defaulting Lenders) of more than 66.67% of the (i) total LILO Commitments then in effect or, if the LILO Commitments have been terminated, the total LILO Loans outstanding at such time and (ii) Total Revolving Credit Commitments then in effect or, if the Revolving Credit Commitments have been terminated, the Total Revolving Credit Exposure. In the event that there are less than three (3) unaffiliated Lenders party to the Loan Documents, the Supermajority Required Lenders shall be all Lenders.
Supermajority Required Lenders as of any date of determination, Lenders holding more than 66 2/3% of the sum of the Total Outstandings.
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Supermajority Required Lenders means, as of any date of determination, Revolving Credit Lenders under the Revolving Credit Commitments (including, for purposes of this definition of “Supermajority Required Lenders” any (x) Extended Revolving Credit Commitments in respect thereof, (y) Incremental Commitments and (z) Refinancing Commitments in respect thereof) having more than 75% of the sum of the (a) Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and all L/C Obligations (with the aggregate Dollar Amount of each Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Lender for purposes of this definition) under the Revolving Credit Commitments and (b) aggregate unused Revolving Credit Commitments; provided that unused Revolving Credit Commitments of, and the portion of the Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and all L/C Obligations held, or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.