Required Senior Lenders definition

Required Senior Lenders means “Required Lenders” as such term is defined in the Senior Credit Agreement.

Required Senior Lenders means, as of any date of determination, the Senior Lenders that, collectively, on such date hold in excess of fifty percent (50%) of the sum of (i) the Principal Amount Outstanding and (ii) the unused Commitments (excluding in each such case any Senior Lender that is a Defaulting Lender, a Loan Party, the Sponsor, a Material Project Party or an Affiliate or Subsidiary thereof, and each Commitment and any Principal Amount Outstanding of any such Senior Lender).

Required Senior Lenders has the meaning ascribed thereto in the Intercreditor Agreement.

Examples of Required Senior Lenders in a sentence

• The Senior Facility Agent may be removed at any time (i) by the Required Senior Lenders for such Person’s gross negligence or willful misconduct or (ii) by the Borrower, with the consent of the Required Senior Lenders, for such Person’s gross negligence or willful misconduct.

• In the event The Bank of Nova Scotia is no longer the Senior Facility Agent, any successor Senior Facility Agent may be removed at any time with cause by the Required Senior Lenders.

• The Borrower shall not change (i) its accounting or financial reporting policies other than as permitted in accordance with GAAP, or (ii) its Fiscal Year without the prior written consent of the Required Senior Lenders.

• No Credit Party will consent to any modification, supplement or waiver of any of the provisions of any documents or agreements evidencing or governing any Subordinated Indebtedness or any Sale-Leaseback Transaction, without the prior consent of the Required Senior Lenders.

• No Credit Party will engage to any substantial extent in any line or lines of business activity other than (i) the types of businesses engaged in by the Credit Parties as of the Effective Date, (ii) the rental and sale of recreational vehicles and (iii) such other lines of business as may be consented to by the Required Senior Lenders.

More Definitions of Required Senior Lenders

Required Senior Lenders means, at any time, Senior Lenders having Senior Loans, LC Exposure, unused Revolving Credit Commitments and, prior to the funding of the Term Loans, unused Term Loan Commitments representing more than 50% of the sum of the total Senior Loans and LC Exposure then outstanding plus unused Revolving Credit Commitments and unused Term Loan Commitments at such time.

Required Senior Lenders means Required Holders and Required Lenders.

Required Senior Lenders means, at any time, both (a) the Requisite Lenders and (b) the Required Holders; provided that if the Collateral Agent shall have received (i) inconsistent written requests or directions from the Required Lenders and the Required Holders or (ii) a written request or direction from only one such group and the Collateral Agent shall have notified the Bank Agent and the Noteholders to such effect but shall not have received a written request or direction from the Required Senior Lenders within 30 days of such notice, “Required Senior Lenders” shall mean the Supermajority Lenders.

Required Senior Lenders means (a) on or prior to the Senior Loan Discharge Date, the Required Lenders as defined in the Senior Loan Agreement and (b) following the Senior Loan Discharge Date, the “Required Lenders” or words of similar import as defined in any New Financing Equivalent.

Required Senior Lenders means at any date of determination, Senior Lenders holding more than 50% of the sum of the Senior Lender Exposure.

Required Senior Lenders at any time shall mean both (a) the Required Bank Lenders, and (b) the Required Holder(s).

Required Senior Lenders means, as of the date of determination thereof, Lenders whose outstanding Loans and interests in Letters of Credit and Unused Revolving Credit Commitments and “Lenders” under the Second Lien Credit Agreement whose outstanding “Loans” under the Second Lien Credit Agreement constitute more than 50% of the sum of the total outstanding Loans, interests in Letters of Credit, Unused Revolving Credit Commitments of the Lenders and “Loans” under the Second Lien Credit Agreement.