Majority Term Loan Lenders definition

Majority Term Loan Lenders means all Term Loan Lenders. The portion of the Indebtedness attributable to, any Defaulting Lender shall be excluded for purposes of making a determination of “Majority Term Loan Lenders”.

Majority Term Loan Lenders means at any time with respect to Term Loan, Term Loan Lenders holding more than 51% of the aggregate principal amount then outstanding under Term Loan; provided however that so long as there are fewer than three Term Loan Lenders, considering any Term Loan Lender and its Affiliates as a single Term Loan Lender, “Majority Term Loan Lenders” shall mean all Term Loan Lenders. The portion of the Indebtedness attributable to, any Defaulting Lender shall be excluded for purposes of making a determination of “Majority Term Loan Lenders”.

Majority Term Loan Lenders means, at any time, Non-Defaulting Lenders owed or holding at least a majority in interest of the aggregate principal amount of the Term Loans held by all Non-Defaulting Lenders at such time.

Examples of Majority Term Loan Lenders in a sentence

• The Administrative Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Credit Document unless it shall first receive such advice or concurrence of the Majority Revolving Lenders, the Majority Term Loan Lenders, or the Majority Lenders as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action.

• If the Administrative Agent shall request instructions from the Required Lenders, Majority Revolving Credit Lenders and/or Majority Term Loan Lenders with respect to any action or actions (including the failure to act) in connection with this Agreement, the Administrative Agent shall be entitled to refrain from such act or taking such act, unless and until it shall have received instructions from such Lenders; and the Administrative Agent shall not incur liability to any Person by reason of so refraining.

• As of the Third Amendment Effective Date, the Term Loan facility granted to Borrower pursuant to the Credit Agreement is hereby terminated and all references in the Credit Agreement to Majority Term Loan Lenders, Term Loan, Term Loan Advance, Term Loan Amount, Term Loan Lenders, Term Loan Maturity Date, Term Notes, Term Loan Percentage and Term Loan Rate Request, are hereby deleted in their entirety, mutatis mutandis, and are of no further force and effect.

• Without limiting the foregoing, no Lender shall have any right of action whatsoever against the Administrative Agent as a result of the Administrative Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Lenders, Majority Revolving Credit Lenders and/or Majority Term Loan Lenders where required by the terms of this Agreement.

• On August 12, 2020, the Required Lenders under the 2016 Credit Agreement sent Plaintiff UMB Bank, the new administrative agent under the 2016 Credit Agreement, a Notice of Event of Default stating that “the Purported Waiver affected only the rights of Term Lenders, did so adversely, and was in respect of the right to payment, [yet] the required consents of the Majority Term Loan Lenders were never sought nor obtained.

More Definitions of Majority Term Loan Lenders

Majority Term Loan Lenders means all Term Loan Lenders.

Majority Term Loan Lenders means Lenders holding at least a majority of the aggregate principal amount of outstanding Term Loans.

Majority Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding more than 50% of the Total Term Loan Exposure (excluding the Term Loan Exposure of Defaulting Lenders) at such date.

Majority Term Loan Lenders. “Required Revolving Lenders” or “Borrowing Base Required Lenders”. Subject to clause (c)(ii) of this Section 14.6, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 2.10, 2.11, 3.5 and 5.4 to the same extent as if it were a Lender (subject to the limitations and requirements of those Sections as though it were a Lender and had acquired its interest by assignment pursuant to clause (b) of this Section 14.6, including the requirements of clause (e) of Section 5.4). To the extent permitted by Requirements of Law, each Participant also shall be entitled to the benefits of Section 14.8(b) as though it were a Lender; provided such Participant agrees to be subject to Section 14.8(a) as though it were a Lender.

Majority Term Loan Lenders means at any time Term Loan Lenders holding more than 50.0% of the aggregate principal amount then outstanding under the Term Loan; provided, however, that at any time there are fewer than three Term Loan Lenders, considering any Lender and its Affiliates as a single lender, “Majority Term Loan Lenders” shall mean all such Lenders.

Majority Term Loan Lenders means Term Loan Lenders who hold, in the aggregate, at least 50.1% of the principal amount of the total outstanding loans under the Term Loan Agreement held by all Term Loan Lenders as of such date the Majority Term Loan Lenders make a determination in accordance with the Plan.

Majority Term Loan Lenders. (except as set forth in Sections 2.14 or 4.11), or any other provision of any Loan Document specifying the number or percentage of Lenders required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder; provided that (I) changes to the definition of “Majority Revolving Credit Lenders” shall only require the written consent of each Revolving Credit Lender, and (II) changes to the definition of “Majority Term Loan Lenders” shall only require the written consent of each Term Loan Lender;