Required Directing Credit Parties definition

Required Directing Credit Parties means, as of any date of determination, (a) to the extent a Significant Event Notice is in effect with respect to only one Class of Borrower Obligations, the Majority Class Holders of such Class, (b) to the extent Significant Event Notices are in effect with respect to two or more Classes of Borrower Obligations, the Majority Class Holders of each such Class and (c) to the extent no Significant Event Notice is in effect with respect to each Class of Borrower Obligations, the Majority Class Holders of each Class. For purposes of taking Enforcement Actions by the Subordinated Guarantee Agent against a particular Guarantor in accordance with this Agreement, the Class of Credit Parties holding the Borrower Obligations of such Guarantor shall be excluded from the determination of the Required Directing Credit Parties and the consent of the Majority Class Holders of such Class shall not be necessary to approve or direct any such Enforcement Actions as would otherwise be required pursuant to Section 3.
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Examples of Required Directing Credit Parties in a sentence

  • If and so long as an Acceleration Event is in effect, the Subordinated Guarantee Agent shall, upon written direction of the Required Directing Credit Parties in accordance with Section 3.2, exercise the rights and powers vested in the Subordinated Guarantee Agent by this Agreement, and shall not be liable with respect to any action taken, or omitted to be taken, in accordance with the direction of the Required Directing Credit Parties.

Related to Required Directing Credit Parties

  • 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 Loan Documents means, for each Loan Asset, originals (except as otherwise indicated) of the following documents or instruments, all as specified on the related Loan Asset Checklist:

  • Act of Required Debtholders means, as to any matter at any time:

  • 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.

  • 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.

  • Required Term Lenders means, as of any date of determination, Term Lenders holding more than 50% of the Term Facility on such date; provided that the portion of the Term Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term Lenders.

  • Lender Group Representatives has the meaning specified therefor in Section 17.9 of the Agreement.

  • Required Facility Lenders means, with respect to any Facility on any date of determination, Lenders having more than 50% of the sum of (i) the outstanding Loans under such Facility and (ii) the aggregate unused Commitments under such Facility; provided that, to the same extent set forth in Section 10.07(h) with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders.

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

  • Required Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date.

  • Majority Facility Lenders with respect to any Facility, the holders of more than 50% of the aggregate unpaid principal amount of the Term Loans or the Total Revolving Extensions of Credit, as the case may be, outstanding under such Facility (or, in the case of the Revolving Facility, prior to any termination of the Revolving Commitments, the holders of more than 50% of the Total Revolving Commitments).

  • Required Secured Parties has the meaning given to it in the Intercreditor Agreement.

  • Required Party has the meaning set forth in Section 4.03 of this Agreement.

  • Required Purchasers means the Purchasers holding a majority of the Registrable Securities.

  • Credit Parties means the Borrower and the Guarantors.

  • 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.

  • Required Documents means those documents identified in Section 2(I) of the Custodial Agreement.

  • Administrative Agent-Related Persons means Administrative Agent (including any successor agent), together with its Affiliates and the officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates.

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

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • Required Term A Lenders means, as of any date of determination, Term A Lenders holding more than 50% of the Term A Facility on such date; provided that the portion of the Term A Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term A Lenders.

  • Requisite Holders means at any time holders of Warrant Shares and Warrants representing at least a majority of the Warrant Shares outstanding or issuable upon the exercise of all the outstanding Warrants.

  • Second Lien Credit Agreement means the Second Lien Credit Agreement, dated as of the Effective Date, among Holdings, the Borrowers, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent and collateral agent.

  • Majority Lenders means a Lender or Lenders whose Commitments aggregate more than sixty six and two thirds per cent (66 2/3%) of the aggregate of all the Commitments.

  • Required Investors means the Investors holding a majority of the Registrable Securities.

  • ABL Collateral Agent means JPMorgan Chase Bank, N.A., in its capacity as collateral agent for the ABL Facility Secured Parties, together with its successors and permitted assigns under the ABL Facility Agreement and the ABL Facility Collateral Documents.