Required Financial Institutions definition

Required Financial Institutions means, at any time, Financial Institutions with Commitments in excess of 66-2/3% of the Purchase Limit.

Required Financial Institutions means, at any time, Financial Institutions with Liquidity Commitments in excess of 50% of the aggregate Liquidity Commitments at such time.

Required Financial Institutions means, at any time, Financial Institutions with Commitments in excess of 50% of the Purchase Limit or, in the case of a Purchase Group, of the Group Purchase Limit; provided, that, so long as there are no more than two (2) Financial Institutions, Required Financial Institutions shall mean each of the Financial Institutions.

Examples of Required Financial Institutions in a sentence

• If for any reason no successor Agent is appointed by the Required Financial Institutions during such five-day period, then effective upon the termination of such five day period, the Purchasers shall perform all of the duties of the Agent hereunder and under the other Transaction Documents and Seller and the Servicer (as applicable) shall make all payments in respect of the Aggregate Unpaids directly to the applicable Purchasers and for all purposes shall deal directly with the Purchasers.

• If the Agent shall resign, then the Required Financial Institutions during such five-day period shall appoint from among the Purchasers a successor agent.

• The Agent shall in all cases be fully protected in acting, or in refraining from acting, in accordance with a request of Conduit or the Required Financial Institutions or all of the Purchasers, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Purchasers.

• The Agent shall in all cases be fully protected in acting, or in refraining from acting, in accordance with a request of Company or the Required Financial Institutions or all of the Purchasers, as applicable, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Purchasers.

• If for any reason no successor Agent is appointed by the Required Financial Institutions during such five-day period, then effective upon the termination of such five-day period, the Purchasers shall perform all of the duties of the Agent hereunder and under the other Transaction Documents and Seller and the Servicer (as applicable) shall make all payments in respect of the Aggregate Unpaids directly to the applicable Purchasers and for all purposes shall deal directly with the Purchasers.

More Definitions of Required Financial Institutions

Required Financial Institutions means, at any time, (a) if any Conduit holds any Purchaser Interests, the Managing Agent for each such Conduit and Financial Institutions with Back-Up Commitments equal to or greater than 50% of the Purchase Limit, and (b) if no Conduit holds any Purchaser Interests, Financial Institutions with Back-up Commitments equal to or greater than 50% of the Purchase Limit.

Required Financial Institutions means, at any time, Financial Institutions with Commitments equaling 100% of the Purchase Limit.

Required Financial Institutions means, at any time, Financial Institutions with Commitments in excess of 51% of the Purchase Limit. “Restricted Junior Payment” means (i) any dividend or other distribution, direct or indirect, on account of any shares of any class of capital stock of

Required Financial Institutions means, at any time, Financial Institutions with Commitments in excess of 66-2/3% of the Maximum Loan.

Required Financial Institutions means, at any time, (i) if the Company holds any Purchaser Interests, the Agent and Financial Institutions with Liquidity Commitments in excess of 50% of the aggregate Liquidity Commitments and (ii) if the Company holds no Purchaser Interests, Financial Institutions with Liquidity Commitments in excess of 50% of the aggregate Liquidity Commitments.

Required Financial Institutions means, at any time, (i) if Jupiter holds any Purchaser Interests, the Agent and Financial Institutions with Liquidity Commitments in excess of 66-2/3% of the aggregate of all Liquidity Commitments, and (ii) if Jupiter holds no Purchaser Interests, Financial Institutions with Commitments in excess of 66-2/3% of the aggregate of all Liquidity Commitments.

Required Financial Institutions means, at any time, (i) if JS Trust holds any Purchaser Interests, the Agent and Financial Institutions with Back-Up Commitments in excess of 66-2/3% of the aggregate of all Back-Up Commitments, and (ii) if JS Trust holds no Purchaser Interests,the Financial Institutions with Back-Up Commitments in excess of 66-2/3% of the aggregate of all Back-Up Commitments.