Required Participants definition

Required Participants means, at any date of determination, more than fifty percent (50%) of Participants.

Required Participants means (x) at any time prior to termination of the Commitments, Participants holding at least 66 2/3% of the sum of (x) the aggregate Funded Participant's Interests, plus (y) the Participant's Unused Commitments, and (y) at any time on and after the termination of the Commitments, Participants holding at least 66 2/3% of the aggregate outstanding Funded Participant's Interests at such time.

Required Participants means (x) at any time prior to termination of the Facility Commitment, Participants holding at least fifty-one percent (51%) of the sum of (A) the aggregate Funded Participations, plus (B) the Participant’s Unused Commitments, and (y) at any time on and after the termination of the Facility Commitment, Participants holding at least fifty-one percent (51%) of the aggregate outstanding Funded Participations at such time; provided however, that to the extent that any Participant is a Defaulting Participant, such Defaulting Participant and all of its Participating Commitments, Funded Participations and Participant’s Unused Commitments shall be excluded for purposes of determining Required Participants.

Examples of Required Participants in a sentence

• The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be directed by the Required Participants; provided, however, that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Participants.

• The Administrative Agent shall be fully justified in failing or refusing to take any action under this Transaction Agreement or any other Operative Document unless it shall first receive the advice or concurrence of the Required Participants, or it shall first be indemnified to its satisfaction by the applicable Participants against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

• Any insurance company selected by Lessee shall be rated in A.M. Best’s Insurance Guide or any successor thereto (or if there be none, an organization having a similar national reputation) and shall have a general policyholder rating of “A-” (or comparable rating for a rating by an organization other than A.M. Best) and a financial rating of at least “X” (or comparable rating for a rating by an organization other than A.M. Best) or be otherwise acceptable to the Required Participants.

• Wherever in the Operative Documents the consent or approval of the Administrative Agent is required, in giving any such consent or approval the Administrative Agent may rely upon, or make its approval subject to, the directions of or consent or approval from the Required Participants.

• Immediately prior to, and after giving effect to, the Initial Advance, since December 31, 2022 there shall be no Material Adverse Effect in the reasonable judgment of the Required Participants.

More Definitions of Required Participants

Required Participants means at any time Participants representing 66-2/3% of the aggregate Commitments of the Lenders and Certificate Holders, or if such Commitments shall have been terminated, Participants representing at least 66-2/3% of the aggregate of Loans and Certificate Holder Amounts outstanding; provided, however, that any Defaulting Participant's Commitments, Loans or Certificate Holder Amounts, as the case may be, shall be excluded therefrom.

Required Participants means, as of the date of the determination, (i) for purposes of any amendment, modification or waiver of Article IV, Article V (to the extent such amendment, modification or waiver reduces or adversely effects the rights, duties or interests of Participants of one or more classes of Notes or Certificates without equally affecting the rights, duties or interests of the Participants holding Notes or Certificates of the other class or classes), Article VI (to the extent such amendment, modification or waiver reduces or adversely effects the rights, duties or interests of Participants of one or more classes of Notes or Certificates without equally affecting the rights, duties or interests of the Participants holding Notes or Certificates of the other class or classes), Article VIII (to the extent such amendment, modification or waiver relates to the articles described in this clause (i)) and Article IX of the Lease, (A) Lenders holding at least a majority in aggregate principal amount of the Class A Notes and (B) Lenders holding at least a majority in aggregate principal amount of the Class B Notes and (C) Certificate Purchasers holding at least a majority in aggregate principal amount of Certificates, (ii) for purposes of the Trust Agreement, Certificate Purchasers holding at least a majority in aggregate principal amount of the Certificates and (iii) for all other purposes, subject to Section 9.5 of the Participation Agreement, Participants holding at least a majority in aggregate principal amount of Notes and Certificates.

Required Participants means, at any time, Participants holding more than 66-2/3% of the sum of (x) the aggregate principal amount of Loans outstanding at such time and (y) the aggregate Certificate Amounts outstanding at such time.

Required Participants means (x) at any time prior to termination of the Commitments, Participants holding at least 66 2/3% of the sum of (x) the aggregate Funded Participant’s Interests, plus (y) the Participant’s Unused Commitments, and (y) at any time on and after the termination of the Commitments, Participants holding at least 66 2/3% of the aggregate outstanding Funded Participant’s Interests at such time.

Required Participants means, at any time, the Participants whose aggregate Credit Exposures (as hereinafter defined) constitute more than 50% of the aggregate Credit Exposure of all Participants at such time. For purposes of the preceding sentence, the term “Credit Exposure” as applied to (i) the Lessor shall mean the outstanding Lessor Amount owed to the Lessor at such time and (ii) each Lender shall mean the aggregate principal amount of Loans held by such Lender at such time net of any distributions (other than distributions of Interest) with respect thereto.

Required Participants means, at any time, Participants the Commitment Percentages of which aggregate at least 66 2/3%.

Required Participants means Participants holding Participations, which in the aggregate represent fifty percent (50%) or more of the aggregate outstanding principal amount of the B Loan.