Approval by Required Lenders Sample Clauses

Approval by Required Lenders. Except for the matters described in Sections 24.3.1 and 24.3.2 and subject to any other provision of this Agreement which specifically requires the consent of each Lender for a matter, any action to be taken or decision to be made by the Lenders pursuant to this Agreement (specifically including for greater certainty the issuance of a demand for payment of the Obligations or the provision of any waiver in respect of a breach of any covenant) shall be effective if approved by Required Lenders pursuant to ARTICLE 21; and any such decision or action shall be final and binding upon all the Lenders.
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Approval by Required Lenders. The Required Lenders shall have approved the modifications and amendments set forth in this Amendment, such approval to be evidenced by such Required Lenders' execution of counterparts of this Amendment as set forth in Section 4.2.
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Approval by Required Lenders. In the event that one or more Lenders declines to consent to the extension of the Expiration Date pursuant to clause (i) above (each a “Lender to be Terminated”), but the Required Lenders agree to such extension, then the Lenders which have consented to such extension under clause (i) above may, with the prior written approval of the Borrowers and the Administrative Agent, arrange to have one or more other Lenders purchase all of the outstanding Loans, if any, of each Lender to be Terminated and succeed to and assume the Commitments and all other rights, interests and obligations of the Lender to be Terminated under this Agreement and the other Loan Documents. Any such purchase and assumption shall be (A) subject to and in accordance with Section 10.8, and (B) effective on the last day of the Interest Period if any Loans are outstanding under the Term SOFR Rate Option. In the event that the Loans and Commitments of any Lender to be Terminated are not fully assigned and assumed prior to the Expiration Date (prior to its extension) then such Expiration Date shall not be extended. 3.
Sample 1
Approval by Required Lenders. In the event that one or more Lenders do not agree to extend the Expiration Date, in their sole and absolute discretion, or do not respond to Borrower’s request for an extension within the time required under clause (i) above [Requests; Approval by All Lenders] (each, a “Lender to be Terminated”), but the Required Lenders agree to such extension of the Expiration Date within such time period, then the Borrower and Administrative Agent may arrange, and each Lender to be Terminated agrees to have one or more other (existing or, as hereinafter provided, new) Lenders purchase the outstanding Loans, if any, of each Lender to be Terminated and succeed to and assume the Commitments of each Lender to be Terminated and all other rights, interests and obligations of each Lender to be Terminated under this Agreement and the other Loan Documents. Any new Lender to replace a Lender to be Terminated proposed by the Borrower must be approved by the Agent (which approval shall not be unreasonably withheld) and become a party to this Agreement pursuant to Section 11.11 [Successors and Assigns; Joinder of a Lender]. Any 42 outstanding Obligations owed to any Lender to be Terminated shall be repaid in full by the Borrower concurrently with its removal as a Lender as provided herein. In the event that the Loans and Commitments of any Lender to be Terminated are not fully assigned and assumed prior to the Expiration Date (before its extension), then such Expiration Date shall not be extended.
Sample 1
Approval by Required Lenders. In the event that one or more Lenders do not agree to extend the then current Expiration Date (herein, the “Current Expiration Date”) or do not respond to Borrower’s request for an extension within the time required under, as applicable, Section 2.12.1 [First Request; Approval by All Lenders] or Section 2.12.2 [Second Request; Approval by All Lenders] (each a “Lender to be Terminated”), but the Required Lenders agree to such extension within such 60-day period, then, at the option of the Borrower:
Sample 1

Related to Approval by Required Lenders

  • Rights of Required Lenders All rights of the Administrative Agent hereunder, if not exercised by the Administrative Agent, may be exercised by the Required Lenders.

  • Required Lenders As of any date, the Lender or Lenders whose aggregate Commitment Percentage is equal to or greater than sixty-six and 7/10 percent (66.7%) of the Total Commitment; provided that in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Commitment Percentages of the Lenders shall be redetermined for voting purposes only to exclude the Commitment Percentages of such Defaulting Lenders.

  • Required Lenders’ Consent Subject to Section 11.4(b) and Section 11.4(c), no amendment, modification, termination or waiver of any provision of the Credit Documents, or consent to any departure by any Credit Party therefrom, shall in any event be effective without the written concurrence of the Administrative Agent and the Required Lenders; provided that (i) the Administrative Agent may, with the consent of the Borrower only, amend, modify or supplement this Agreement to cure any ambiguity, omission, defect or inconsistency, so long as such amendment, modification or supplement does not adversely affect the rights of any Lender or the Issuing Bank, (ii) each of the Fee Letter and any Auto Borrow Agreement may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto, (iii) no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder, except that the Commitments, Loans and/or Letter of Credit Obligations of such Lender may not be increased or extended without the consent of such Lender, (iv) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United States supersedes the unanimous consent provisions set forth herein and (v) the Required Lenders shall determine whether or not to allow any Credit Party to use cash collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be binding on all of the Lenders.

  • Instructions of Required Lenders The rights and remedies conferred upon Agent under the Loan Documents may be exercised without the necessity of joining any other party, unless required by Applicable Law. In determining compliance with a condition for any action hereunder, including satisfaction of any condition in Section 6, Agent may presume that the condition is satisfactory to a Secured Party unless Agent has received notice to the contrary from such Secured Party before Agent takes the action. Agent may request instructions from Required Lenders or other Secured Parties with respect to any act (including the failure to act) in connection with any Loan Documents or Collateral, and may seek assurances to its satisfaction from Secured Parties of their indemnification obligations against Claims that could be incurred by Agent. Agent may refrain from any act until it has received such instructions or assurances, and shall not incur liability to any Person by reason of so refraining. Instructions of Required Lenders shall be binding upon all Secured Parties, and no Secured Party shall have any right of action whatsoever against Agent as a result of Agent acting or refraining from acting pursuant to instructions of Required Lenders. Notwithstanding the foregoing, instructions by and consent of specific parties shall be required to the extent provided in Section 14.1.1. In no event shall Agent be required to take any action that it determines in its discretion is contrary to Applicable Law or any Loan Documents or could subject any Agent Indemnitee to liability.

  • Requisite Lenders’ Consent Subject to Section 10.5(b) and 10.5(c), no amendment, modification, termination or waiver of any provision of the Credit Documents, or consent to any departure by any Credit Party therefrom, shall in any event be effective without the written concurrence of the Requisite Lenders.

  • Super-Majority Amendments Notwithstanding Section 9.1, any alteration or amendment to this ‎Section 9.2 or Section 5.2 that (i) affects the Members disproportionately or (ii) materially and adversely affects the rights of the Members, will require the affirmative vote or consent of the Manager and the holders of Outstanding Common Shares of the Company representing at least two-thirds of the total votes that may be cast by all such Outstanding Common Shares, voting together as a single class.

  • Majority Lenders Where this Agreement or any other Security Document provides for any matter to be determined by reference to the opinion of the Majority Lenders or to be subject to the consent or request of the Majority Lenders or for any decision or action to be taken on the instructions in writing of the Majority Lenders, such opinion, consent, request or instructions shall (as between the Lenders) only be regarded as having been validly given or issued by the Majority Lenders if all the Lenders with a Commitment and/or Contribution shall have received prior notice of the matter on which such opinion, consent, request or instructions are required to be obtained and the relevant majority of such Lenders shall have given or issued such opinion, consent, request or instructions but so that (as between the Borrowers and the Banks) the Borrowers shall be entitled (and bound) to assume that such notice shall have been duly received by each relevant Lender and that the relevant majority shall have been obtained to constitute Majority Lenders whether or not this is in fact the case.

  • Return of Required Loan Documents The Borrower may, with the prior written consent of the Administrative Agent (such consent not to be unreasonably withheld), require that the Collateral Custodian return each Required Loan Document (a) delivered to the Collateral Custodian in error or (b) released from the Lien of the Collateral Agent hereunder pursuant to Section 2.16, in each case by submitting to the Collateral Custodian and the Administrative Agent a written request in the form of Exhibit M hereto (signed by both the Borrower and the Administrative Agent) specifying the Collateral Portfolio to be so returned and reciting that the conditions to such release have been met (and specifying the Section or Sections of this Agreement being relied upon for such release). The Collateral Custodian shall upon its receipt of each such request for return executed by the Borrower and the Administrative Agent promptly, but in any event within five Business Days, return the Required Loan Documents so requested to the Borrower.

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