Super Majority Banks definition

Super Majority Banks means at any time Banks having at least 85% of the aggregate amount of the Commitments or, if the Commitments shall have been terminated, holding Notes evidencing at least 85% of the aggregate unpaid principal amount of the Loans.

Super Majority Banks means, at any time, Banks holding Loans representing at least 66-2/3% of the aggregate principal amount of the Loans outstanding, or if no Loans are outstanding, Banks having Commitments representing at least 66-2/3% of the Total Commitment.

Super Majority Banks shall have the meaning given such term in Section 10.10(b).

Examples of Super Majority Banks in a sentence

• Upon the occurrence and during the continuance of a Default, the Super-Majority Banks shall have the option (but shall not be required to give prior notice thereof to the Borrower to accelerate the maturity of the Loans or to exercise any other rights or remedies hereunder in connection with the exercise of this right) to charge interest on the outstanding principal balance of the Loans at the Default Rate from the date of such Default.

• Without limiting the foregoing, neither any Bank nor the holder of any Note shall have any right of action whatsoever against the Agent as a result of the Agent acting or refraining from acting hereunder or under any other Credit Document in accordance with the instructions of the Required Banks (or, where applicable, the Super-Majority Banks).

• In addition, Administrative Agent may be removed at any time with cause by the Super-Majority Banks.

• The parties hereto agree that such service upon receipt (i) shall be deemed in every respect effective service of process upon it in any such suit, action or proceeding and (ii) shall, to the fullest extent permitted by applicable law, be taken and held to be valid personal service upon and personal delivery to it.

• With respect to its obligation to make Loans under this Agreement, the Agent shall have the rights and powers specified herein for a "Bank" and may exercise the same rights and powers as though it were not performing the duties specified herein; and the term "Banks," "Required Banks," "Letter of Credit Issuer", "Super-Majority Banks," "holders of Notes" or any similar terms shall, unless the context clearly otherwise indicates, include the Agent in its individual capacity.

More Definitions of Super Majority Banks

Super Majority Banks means (a) as long as the Commitments are in effect, Banks having an aggregate Commitment Percentage of 66-2/3% or more of the Aggregate Maximum Credit Amount, and (b) following termination or expiration of the Commitments, Banks holding 66-2/3% or more of the Outstanding Revolving Credit.

Super Majority Banks means (a) as long as the Commitments are in effect, Banks having an aggregate Applicable Percentage of 80% or more of the Aggregate Maximum Credit Amount, and (b) following termination or expiration of the Commitments, Banks holding 80% or more of the Outstanding Revolving Credit, subject in each case to Section 3.5(a); provided that, in each case, as long as there are less than three Banks, Super Majority Banks means all Banks.

Super Majority Banks holders of Notes" or any similar terms shall, unless the context clearly otherwise indicates, include the Agent in its individual capacity. The Agent may accept deposits from, lend money to, and generally engage in any kind of banking, trust or other business with the Borrower or any Affiliate of the Borrower as if it were not performing the duties specified herein, and may accept fees and other consideration from the Borrower for services in connection with this Agreement and otherwise without having to account for the same to the Banks.

Super Majority Banks means the Non-Defaulting Banks which would constitute the Required Banks if the reference to "50%" in the definition of Required Banks were to read "66 2/3%."

Super Majority Banks means Banks (which must include the Administrative Agent) having Loan Commitments aggregating at least eighty percent (80%) of the aggregate amount of all Loan Commitments.

Super Majority Banks shall have the meaning set forth in Section 13.02 hereof.

Super Majority Banks means at any time Banks having or holding more than 66 2/3% of the sum of (i) the Total Commitments, if any, and (ii) the aggregate unpaid principal amount of the Loans then outstanding hereunder.