Required Managing Agents definition

Required Managing Agents means, at any time, Managing Agents representing Purchaser Groups which hold Series 2002-1 Notes that represent at least 66 2/3% of the Outstanding Amount or, if the Outstanding Amount is zero, Managing Agents representing Purchaser Groups with Pro Rata Shares of not less than 66 2/3%.

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Required Managing Agents means, at any time, the Managing Agents whose Group Purchase Limits together exceed fifty percent (50%) of the Purchase Limit at such time.

Required Managing Agents means (i) at any time prior to the Termination Date, the Managing Agents whose Lender Group Limits together exceed fifty percent (50%) of the Facility Limit at such time; provided, however, that for purposes of this definition, the aggregate outstanding principal balance of the Loans of the Non-Renewing Lenders in a Lender Group at such time shall be deemed to be the Lender Group Limit of such Lender Group at such time or (ii) at any time from and after the Termination Date, the Managing Agents whose Lender Groups hold Loans at such time which, in the aggregate, exceed fifty percent (50%) of the Aggregate Principal Balance at such time.

Examples of Required Managing Agents in a sentence

CFC shall not sell, pledge or otherwise transfer such common stock without the prior written consent of the Required Managing Agents.
Any such amendment with respect to a Benchmark Transition Event will become effective at 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the Administrative Agent has notified the Managing Agent for each affected Purchaser and the Issuer so long as the Administrative Agent has not received, by such time, written notice of objection to such amendment from Managing Agents comprising the Required Managing Agents or from the Issuer.
In addition to the foregoing, if an Amortization Event has occurred, then, at the written direction of the Required Managing Agents, the Indenture Trustee, as assignee of the Transferor and the Issuer with respect to the Lockboxes, may give Termination Notices to the Lockbox Banks in accordance with Section 9.06 of the Transfer and Servicing Agreement.
The Issuer shall not amend its certificate of formation or limited liability company agreement without the prior written consent of the Required Managing Agents.
The Transferor shall not sell, pledge or otherwise transfer such membership interests without the prior written consent of the Required Managing Agents.

More Definitions of Required Managing Agents

Required Managing Agents means (i) at any time prior to the Termination Date, the Managing Agents whose Lender Group Limits together exceed fifty percent (50%) of the Facility Limit at such time; provided, however, that for purposes of this definition, the aggregate outstanding Principal Balance of the Loans and L/C Advances of the Non-Renewing Lenders in a Lender Group at such time shall be deemed to be the Lender Group Limit of such Lender Group at such time or (ii) at any time from and after the Termination Date, the Managing Agents whose Lender Group has Credit Exposure at such time which, in the aggregate, exceeds fifty percent (50%) of the aggregate Credit Exposure at such time; provided, that in either case, at any time there are two (2) or more Managing Agents, “Required Managing Agents” must include at least two (2) Managing Agents (who are not Affiliates of each other).

Required Managing Agents shall have the meaning set forth in the Note Purchase Agreement.