Majority Term Lenders definition

Majority Term Lenders at any time, (a) if only one Term Lender holds the Term Loan, such Term Lender; and (b) if more than one Term Lender holds the Term Loan, at least two Term Lenders who hold more than 50% of the principal sum of all Term Loans outstanding; provided that the portion of the Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Majority Term Lenders at any time with respect to any Term Facility, Term Lenders that are non-Defaulting Lenders having Term Loans and unused and outstanding Term Commitments with respect to such Term Facility representing more than 50% of the sum of all Term Loans outstanding and unused and outstanding Term Commitments with respect to such Term Facility at such time.

Majority Term Lenders means, at any time, Term Lenders whose Term Loans represent an amount greater than 50% of the Term Obligations on such date.

Examples of Majority Term Lenders in a sentence

Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 10.1 and in the definitions of Majority Revolving Lenders, Majority Term Lenders and Required Lenders.
In addition, as provided in the Credit Agreement and except as set forth in the Credit Agreement, the Overadvance Term Lender shall be bound by all modifications, extensions of maturity, waivers and amendments to the Credit Agreement executed by the Agent, Lenders, Majority Lenders and/or Majority Term Lenders (as applicable) and that none of same shall require advance notice to, or the consent of, any Overadvance Term Lender.
In addition, the Agent, the Majority Term Lenders and the Overadvance Term Lender shall have been satisfied with the form and substance of the Amendment Approval Order.
The Agent, the Majority Term Lenders and the Overadvance Term Lender shall have been satisfied with the form and substance (and the timing of the notice) of the motion for the entry of the Amendment Approval Order.
In addition (a) any Guaranty may be released if the Guarantor is sold in a transaction permitted under this Agreement, (b) Liens on Collateral (other than Term Loan Collateral) may be released with the consent of the Revolving Credit Lenders and the Majority Term Lenders and (c) Liens on the Term Loan Collateral may be released with the consent of only the Term Lenders.

More Definitions of Majority Term Lenders

Majority Term Lenders means Term Lenders having, in aggregate, more than fifty percent (50%) of the Total Term Loan Exposures at the time of determination; provided that the (i) principal amount of the Term Loans of the Defaulting Lenders (if any) and (ii) Excluded Term Loan Exposures shall be excluded from the determination of Majority Term Lenders.

Majority Term Lenders means (a) other than as provided in clauses (b) and (c) below, Term Lenders holding greater than 50% of the sum of (i) the aggregate unfunded Term Commitments at such time plus (ii) the aggregate unpaid principal amount of the Term Notes, (b) at any time when there are only two Term Lenders, both Term Lenders, and (c) at any time when there is only one Term Lender, such Term Lender; provided that, in any event, if there are two or more Term Lenders, the Term Commitment of, and the portion of the Term Advances held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders unless all Term Lenders are Defaulting Lenders.

Majority Term Lenders means (i) at any time prior to the --------------------- Closing Date, Lenders holding at least a majority of the Term Loan Commitments, and (ii) at any time after the Closing Date, Lenders holding at least a majority of the stun of (a) the aggregate principal amount of outstanding Term Loans plus ---- (b) the aggregate amount of unused Term Loan Commitments then in effect.

Majority Term Lenders means, at any time, Lenders having Term Loans, New Term Loans and Refinancing Term Loans and unused Term Commitments, unused New Term Commitments and unused Refinancing Term Commitments representing greater than 50% of the sum of all Term Loans outstanding, all New Term Loans outstanding (if any), all Refinancing Term Loans outstanding (if any) and all unused Term Commitments, unused New Term Commitments (if any) and unused Refinancing Term Commitments (if any) at such time.

Majority Term Lenders means at any time Term Lenders whose Pro Rata Shares aggregate more than 50%.

Majority Term Lenders means, at any time, (a) if only one Term Lender holds the Term Loan, such Term Lender; and (b) if more than one Term Lender holds the Term Loan, at least two Term Lenders who hold more than 50.0% of the principal sum of all Term Loans outstanding; provided that the portion of the Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders; provided, further, that a Lender and its Affiliates shall be deemed one Lender.

Majority Term Lenders means (a) at any time when there are more than two Term Lenders, Term Lenders holding more than 50% of the then aggregate unpaid principal amount of the Term Notes and (b) at any time when there are one or two Term Lenders, all of the Term Lenders.