Required Revolving Credit Banks definition

Required Revolving Credit Banks means, at any time, Revolving Credit Banks having at least fifty-one percent (51%) of the aggregate amount of the Revolving Commitments or, if the Revolving Commitments shall have been terminated, holding Notes evidencing at least fifty-one percent (51%) of the aggregate unpaid principal amount of the Revolving Loans (provided, that in the case of Swingline Loans, the amount of each Revolving Credit Bank’s funded participation interest in such Swingline Loans shall be considered for purposes hereof as if it were a direct loan and not a participation interest, and the aggregate amount of Swingline Loans owing to the Swingline Lender shall be considered for purposes hereof as reduced by the amount of such funded participation interests); provided, however, that no Defaulting Lender shall be permitted to vote on any matter requiring the vote of the Required Revolving Credit Banks and for purposes of determining the Required Revolving Banks, the Revolving Commitment of such Revolving Credit Bank or the unpaid principal amount of Revolving Loans evidenced by Notes held by such Revolving Credit Bank, as applicable, shall not be counted.
Sample 1
Required Revolving Credit Banks. “provided, that the Revolving Credit Commitment and the portion of the outstanding principal amount of the Revolving Credit Loans, Swing Loans and Letter of Credit Obligations held or deemed held by any Defaulting Bank shall be excluded for purposes of making a determination of Required Revolving Credit Banks.”
Sample 1
Required Revolving Credit Banks means, as of any date, Revolving Credit Banks having at least 51% of the aggregate amount of the Revolving Credit Commitments (excluding, however, any Defaulting Lender); provided, however, that if the Revolving Credit Commitments have been terminated or reduced to zero, the “Required Revolving Credit Banks” shall be the Revolving Credit Banks holding at least 51% of the Revolving Credit Exposure of all Revolving Credit Banks (excluding, however, any Defaulting Lender).
Sample 1

Examples of Required Revolving Credit Banks in a sentence

  • The Total Revolving Credit Exposure of any Delinquent Bank shall be disregarded in determining Required Revolving Credit Banks at any time; provided that, the amount of any Revolving Credit Loan made pursuant to §3.3(a) that such Delinquent Bank has failed to fund that has not been reallocated to and funded by another Bank shall be deemed to be held by the Bank that is the Fronting Bank with respect thereto in making such determination.

  • The Agent and any Fronting Bank shall in all cases be fully protected by the Revolving Credit Banks in acting, or in refraining from acting, under this §3 in accordance with a request of the Required Revolving Credit Banks (or such other number or percentage of the Banks as may be required by this Agreement), and such request and any action taken or failure to act pursuant thereto shall be binding upon the Banks and all future holders of the Notes or of a participation in any Letter of Credit Obligations.

  • Any Bank that does not approve any consent, waiver or amendment that (i) requires the approval of all Banks, all Banks of one of the Facilities or all affected Banks in accordance with the terms of §28 and (ii) has been approved by the Required Banks, the Required Revolving Credit Banks or the Required Term Banks, as applicable.

  • Each request for the issuance of, extension of the expiry date of, or increase of the amount of a Letter of Credit made pursuant to §3.1 on and as of the Closing Date shall constitute a representation and warranty by the Borrower that the conditions set forth in §12 have been satisfied (except to the extent any such condition has been waived and/or deferred in writing by the Agent and the Required Revolving Credit Banks) as of the Closing Date.

  • Without limiting the foregoing, no Bank shall have any right of action whatsoever against the Agent or the Co-Agent as a result of the Agent or the Co-Agent acting or refraining from acting hereunder in accordance with the instructions of the Required Banks, the Required Revolving Credit Banks or the Required Commercial Paper Banks, as appropriate.

  • In the event of a tie, the Administrative Subcommittee, excluding the Literature Distribution Chair and the Literature Distribution Chair Alternate, shall cast the deciding vote.


More Definitions of Required Revolving Credit Banks

Required Revolving Credit Banks. At any time, Revolving Credit Banks having, in the aggregate, not less than sixty-six and two-thirds of one percent (66 2/3%) of the Total Revolving Credit Commitment.
Sample 1
Required Revolving Credit Banks. Required Commercial Paper Banks", "holders of Notes", or any similar terms shall, unless the context clearly otherwise indicates, include the Agent and the Co-Agent in their capacities as lenders under this Credit Agreement. Each of the Agent and the Co-Agent may accept deposits from, lend money to, and generally engage in any kind of banking, trust, financial advisory or other business with the Borrower or any Subsidiary of the Borrower as if it were not performing the duties specified herein, and may accept fees and other consideration from the Borrower or any Subsidiary of the Borrower for services in connection with this Agreement and otherwise without having to account for the same to the Banks.
Sample 1
Required Revolving Credit Banks means at any time Revolving Credit Banks having more than 50% of the aggregate amount of the Revolving Credit Commitments, or if the Revolving Credit Commitments are no longer in effect, holding more than 50% of the aggregate outstanding principal amount of the Revolving Credit Loans, Swing Loans and Letter of Credit Obligations.
Sample 1
Required Revolving Credit Banks means at any time Banks having an aggregate amount of the Revolving Commitments (or, after the Revolving Commitments expire, are terminated or are fully utilized, Revolving Loans) which constitute at least 51% of the aggregate amount of all Revolving Commitments (or, after the Revolving Commitments expire, are terminated or are fully utilized, Revolving Loans) then in effect or outstanding; provided, that for the purposes of this definition the Commitments and Loans of any Revolving Credit Bank shall be disregarded if and for so long as such Revolving Credit Bank (each, a "Defaulting Bank") shall have not theretofore made available to (i) the Administrative Agent its pro rata share of a given Borrowing in accordance with Section 2.2(c) or (ii) the Letter of Credit Bank its pro rata share of a given unreimbursed reimbursement obligation in accordance with Section 3.4(a).
Sample 1

Related to Required Revolving Credit Banks

  • Required Revolving Credit Lenders means, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

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

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Revolving Credit means the credit facility for making Revolving Loans and Swing Loans and issuing Letters of Credit described in Sections 1.2, 1.3 and 1.7 hereof.

  • Existing Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Aggregate Revolving Credit Commitments means, at any time, the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at such time.

  • New Revolving Credit Commitments shall have the meaning provided in Section 2.14(a).

  • Refinancing Revolving Credit Commitments shall have the meaning provided in Section 2.14(h).

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Revolving Credit Notes means the separate Revolving Credit Notes made by the Borrower payable to the order of each Lender, substantially in the form of Exhibit A hereto, evidencing the Credit Facility, and any amendments and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part; "Note" means any of such Revolving Credit Notes.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Other Revolving Credit Commitments means one or more Classes of revolving credit commitments hereunder that result from a Refinancing Amendment.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Other Revolving Credit Loans means one or more Classes of Revolving Credit Loans that result from a Refinancing Amendment.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.