Majority Lenders’ Decisions Clause Samples
The 'Majority Lenders’ Decisions' clause defines how decisions are made among a group of lenders in a syndicated loan arrangement, typically requiring the consent of a specified majority—often more than 50%—of the lenders by value of their commitments. In practice, this means that certain actions, such as waiving loan covenants or approving amendments to the loan agreement, can proceed if the majority threshold is met, even if not all lenders agree. This clause streamlines decision-making, prevents minority lenders from blocking necessary actions, and ensures efficient administration of the loan facility.
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Majority Lenders’ Decisions. To the extent not otherwise stated in the Financing Documents, all amendments, consents and waivers under the Financing Documents may be given by the Agent acting on the direction of the Majority Lenders. Any changes in maturity, amounts payable, size of Commitments, the definition of Majority Lenders and this Clause 24.21 will, however, require unanimity of all Lenders.
Majority Lenders’ Decisions. Except as provided in clause 24.2 (Unanimous Consent), with the prior written consent of the Majority Lenders, the Agent and the Borrower may from time to time enter into written amendments, supplements or modifications to the Finance Documents (however fundamental) for the purpose of adding any provisions to the Finance Documents or changing in any manner the rights and/or obligations of all or any of the Parent, the Borrower, the Agent and the Lenders, and:
(A) the Agent may execute and deliver to the Parent or the Borrower a written instrument waiving prospectively or retrospectively, on such terms and conditions as the Agent may specify in such instrument, any of the requirements of any of the Finance Documents;
(B) the Agent may effect, on behalf of the Majority Lenders, an amendment or waiver to which they have agreed;
(C) the Agent may effect, on behalf of any Finance Party, any amendment or waiver permitted by this clause; and/or
(D) the Agent shall promptly notify the other Parties of any amendment or waiver effected under this clause and any such amendment or waiver shall be binding on all the parties.
Majority Lenders’ Decisions. Without prejudice to the provisions in clause 7 (Amendments to the Financing Documents) of the Security Pooling Agreement, all amendments, consents and waivers under this Agreement may be given by the Agent acting on the direction of the Majority Lenders. Any changes in maturity, amounts payable, changes affecting the State Guarantee, changes in the Borrower, the Security, Clause 28 (Assignments and Transfers), the definition of Majority Lenders and this Clause 21.21 will, however, require unanimity of all Lenders.