Borrowing Base Increase Requisite Lenders definition

Borrowing Base Increase Requisite Lenders means, (a) if there are less than three Lenders at such time, all Lenders, and (b) if there are three or more Lenders at such time, (i) at any time while no Loans or LC Exposure is outstanding, Lenders having more than ninety-five percent (95%) of the Aggregate Maximum Credit Amounts; and (ii) at any time while any Loans or LC Exposure is outstanding, Lenders holding more than ninety-five percent (95%) of the outstanding aggregate principal amount of the Loans and participation interests in Letters of Credit (without regard to any sale by a Lender of a participation in any Loan under Section 12.04(c)).
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Borrowing Base Increase Requisite Lenders means, at any time, the Administrative Agent together with Lenders having Loans, LC Exposure and unused Commitments representing more than 90% of the sum of all Loans outstanding, LC Exposure and unused Commitments at such time (including the Administrative Agent, without regard to any sale by a Lender of a participation in any Loan under Section 12.04(c)); provided that Loans, LC Exposure and unused Commitment of any Defaulting Lender at such time shall be disregarded for purposes of making a determination of Borrowing Base Increase Requisite Lenders.
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Borrowing Base Increase Requisite Lenders means, (a) if there are less than three Lenders at such time, all Lenders, and (b) if there are three or more Lenders at such time, (i) at any time while no Loans or LC Exposure is outstanding, Lenders having more than ninety-five percent (95%) of the Aggregate Maximum Credit Amounts; and (ii) at any time while any Loans or LC Exposure is outstanding, Lenders holding more than ninety-five percent (95%) of the outstanding aggregate principal amount of the Loans and participation interests in Letters of Credit (without regard to any sale by a Lender of a participation in any Loan under Section 12.04(c) ).
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Examples of Borrowing Base Increase Requisite Lenders in a sentence

  • Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement or any Loan Document shall be restricted as set forth in the definition of Borrowing Base Increase Requisite Lenders, Borrowing Base Super Majority Lenders, Majority Lenders, or Required Lenders, as applicable.

  • Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement or any Loan Document shall be restricted as set forth in the definition of Borrowing Base Increase Requisite Lenders, Majority Lenders, or Required Lenders, as applicable.

  • Notwithstanding anything to the contrary contained in this Agreement, if the actions contemplated by the foregoing clauses (A) , (B) and (C) are not effectuated for any reason and any Dissenting Lender has not either been replaced or had its entire Increase Portion reallocated in accordance with the foregoing, then the Proposed Borrowing Base shall be deemed not to be approved by the Borrowing Base Increase Requisite Lenders.

  • Pursuant to Section 2.07, the Administrative Agent and the Borrowing Base Increase Requisite Lenders have determined that the Borrowing Base shall be increased to $175,000,000, which redetermination is made after giving pro forma effect to this Third Amendment and is effective as of the Third Amendment Effective Date, (the “Redetermination Effective Date”).

  • Any Proposed Borrowing Base that would increase the Borrowing Base then in effect must be approved by the Borrowing Base Increase Requisite Lenders as provided in this Section 2.07(c)(iii) (and after giving effect to any reallocation described in Section 2.07(c)(iv) ); and any Proposed Borrowing Base that would decrease or maintain the Borrowing Base then in effect must be approved or be deemed to have been approved by the Required Lenders as provided in this Section 2.07(c)(iii) .

  • Pursuant to Section 2.07, the Administrative Agent and the Borrowing Base Increase Requisite Lenders have determined that the Borrowing Base shall be increased to $500,000,000, which redetermination is made after giving pro forma effect to this Amendment and is effective as of the Amendment Effective Date.

  • Pursuant to Section 2.07, the Administrative Agent and the Borrowing Base Increase Requisite Lenders have determined that the Borrowing Base shall be increased to $225,000,000, which redetermination is made after giving pro forma effect to this Fourth Amendment and is effective as of the Fourth Amendment Effective Date, (the “Redetermination Effective Date”).

Related to Borrowing Base Increase Requisite Lenders

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit 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 Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Requisite Revolving Lenders means Lenders having (a) more than 50% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Revolving Loan.

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Requisite Lenders means Lenders having (a) more than 50% of the Commitments of all Lenders, or (b) if the Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Loans.

  • Requisite Term Loan Lenders shall in no event mean less than two Term Loan Lenders.

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Term Loan Increase has the meaning set forth in Section 2.14(a).

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Required Revolving Credit Lenders means, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Facility Increase has the meaning provided in Section 2.15(a).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Majority Revolving Lenders at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time)); provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Supermajority Lenders means, at any time, Lenders having Credit Exposure and unused Commitments representing at least 66 2/3% of the sum of the total Credit Exposure and unused Commitments at such time.