Majority Committed Lenders definition

Majority Committed Lenders means, at any time, Committed Lenders whose Commitments together exceed fifty percent (50%) of the Aggregate Commitment at such time.
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Majority Committed Lenders means the Lenders holding at least 51% of the then aggregate unpaid principal amount of the Committed Loans or if no Committed Loans are outstanding, the Lenders having at least 51% of the available Commitments (determined without considering the effect of any Competitive Reduction).
Sample 1
Majority Committed Lenders. , "Net Receivables Pool Balance" or "Required Reserves" or any of the defined terms used in such definitions or this Section 10.01, (viii) consent to or permit the assignment or transfer by the Borrower or any of its rights and obligations under this Agreement or of any of its right, title or interest in or to the Pool Receivables, (ix) amend or modify any provision of Section 7.01 or Section 10.03, or (x) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (i) through (ix) above in a manner which would circumvent the intention of the restrictions set forth in such clauses.
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Examples of Majority Committed Lenders in a sentence

  • Merge into, or consolidate with, one or more corporations or other entities, or be a party to any transaction involving the transfer of any substantial portion of its assets, revenues or properties to or with any corporation or other Person, without the prior written consent of the Agent, the Conduit Lenders and the Majority Committed Lenders.

  • Permit any Pledged Student Loan (a) that is an FFELP Loan to be guaranteed by any guaranty agency or entity other than (i) an FFELP Guarantor or (ii) any other guaranty agency or entity specifically approved as a Guarantor by the Agent, the Conduit Lenders and the Majority Committed Lenders in advance hereunder in writing or (b) that is a Private Loan covered by a Private Loan Guarantee Agreement to be guaranteed by any guaranty agency or entity other than a Private Loan Guarantor.

  • The Master Servicer, for the benefit of Issuer and the Lenders (to the extent provided herein), shall appoint one or more Sub-Servicers approved by the Agent, the Conduit Lenders and the Majority Committed Lenders to manage, service, administer and make collections on the Pledged Student Loans.

  • A waiver must be in writing and signed by the Lenders (or the Majority Committed Lenders or Majority Lenders, to the extent permitted hereunder) to be effective, and such waiver will be effective only in the specific instance and for the specific purpose for which it is given.

  • In the event of the termination hereunder of a Master Servicer, the Agent, the Conduit Lenders and the Majority Committed Lenders shall appoint, a successor Master Servicer and the successor Master Servicer shall accept its appointment by a written assumption in form acceptable to the Agent.

  • Permit any Pledged Student Loans to be serviced by any Sub-Servicer (other than the Sub-Servicers servicing the Pledged Student Loans on the date hereof) without first obtaining the written consent of the Agent, the Conduit Lenders and the Majority Committed Lenders.

  • Subject to the provisions of Section 9.15, the Majority Committed Lenders may elect to fund any Loan without all conditions being satisfied, but this shall not be deemed to be a waiver of the requirement that each such condition precedent be satisfied as a prerequisite for any subsequent Loan, unless the Majority Committed Lenders (or, if required by Section 9.15, all Lenders) specifically waive each such item in writing.

  • From the date hereof until the Final Payout Date, Issuer (or the Master Servicer on its behalf) will, unless the Agent, the Conduit Lenders and the Majority Committed Lenders shall otherwise consent in writing comply with the following covenants.

  • No such resignation shall become effective until the Indenture Trustee, the Eligible Lender Trustee, the Agent or a successor Master Servicer reasonably acceptable to the Agent, the Conduit Lenders and the Majority Committed Lenders shall have assumed the responsibilities and obligations of Collegiate Funding Master Servicing, L.L.C., as Master Servicer hereunder.

  • Without the prior written consent of the Agent, the Conduit Lenders and the Majority Committed Lenders, Collegiate Funding Master Servicing, L.L.C. shall not resign from the obligations and duties hereby imposed on it as Master Servicer under this Agreement except upon determination that the performance of its duties under this Agreement shall no longer be permissible under applicable law.


More Definitions of Majority Committed Lenders

Majority Committed Lenders means at any time Committed Lenders whose Commitments together exceed fifty percent of the aggregate of all Commitments at such time.
Sample 1

Related to Majority Committed Lenders

  • Committed Lenders means, for any Lender Group, the Persons executing this Agreement in the capacity of a “Committed Lender” for such Lender Group (or an assignment hereof) in accordance with the terms of this Agreement.

  • 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 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.

  • Requisite Revolving Lenders means Lenders having (a) more than 66 2/3% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 66 2/3% of the aggregate outstanding amount of the Revolving Loan.

  • Majority Revolving Credit Lenders means Revolving Credit --------------------------------- Lenders having at least 51% of the aggregate amount of the Revolving Credit Commitments or, if the Revolving Credit Commitments shall have terminated, Lenders holding at least 51% of the sum of (a) the aggregate unpaid principal amount of the Revolving Credit Loans plus (b) the aggregate amount of all Letter of Credit Liabilities.

  • Tranche B Lenders means the Lenders who hold Tranche B Loans or who have Tranche B Commitments.

  • Committed Lender means, as to any Lender Group, each of the financial institutions listed on Schedule I as a “Committed Lender” for such Lender Group, together with its respective successors and permitted assigns.

  • 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.

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $50,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Requisite Lenders means Lenders having or holding more than 50% of the sum of the aggregate Term Loan Exposure of all Lenders plus the aggregate Revolving Loan Exposure of all Lenders.

  • Term Facility Commitment means the commitment of a Lender to make Term Loans, including Term B Loans and/or Other Term Loans.

  • Super Majority Lenders means a Lender or Lenders whose Revolving Facility Commitments aggregate more than eighty five per cent. (85%) of the Total Facility Commitments (or, if the Total Facility Commitments have been reduced to zero, aggregated more than eighty five per cent. (85%) of the Total Facility Commitments immediately prior to that reduction).

  • Liquidity Commitment means, with respect to each Liquidity Bank, its commitment to make Liquidity Fundings pursuant to the Liquidity Agreement to which it is a party.

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

  • Revolving Lenders means, as of any date of determination, Lenders having a Revolving Loan Commitment.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Consenting Lenders has the meaning specified in Section 2.13(b).

  • Majority Lenders means a Lender or Lenders whose Commitments aggregate more than 662/3% of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than 662/3% of the Total Commitments immediately prior to the reduction).

  • Required Lenders means, at any time, Lenders having Revolving Credit Exposures and unused Commitments representing more than 50% of the sum of the total Revolving Credit Exposures and unused Commitments at such time.

  • 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.

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Equity Commitment means (a) options, warrants, convertible securities, exchangeable securities, subscription rights, conversion rights, exchange rights, or other Contracts that could require a Person to issue any of its Equity Interests or to sell any Equity Interests it owns in another Person; (b) any other securities convertible into, exchangeable or exercisable for, or representing the right to subscribe for any Equity Interest of a Person or owned by a Person; (c) statutory pre-emptive rights or pre-emptive rights granted under a Person's Organizational Documents; and (d) stock appreciation rights, phantom stock, profit participation, or other similar rights with respect to a Person.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Tranche B Lender means a Lender with a Tranche B Commitment or an outstanding Tranche B Term Loan.