Common use of Required Revolving Credit Lenders Clause in Contracts

Required Revolving Credit Lenders. As of any date, the Revolving Credit Lender or Revolving Credit Lenders whose aggregate Revolving Credit Commitment Percentage is equal to or greater than sixty six and 7/10 percent (66.7%) of the Revolving Credit Commitments, or, if the Revolving Credit Commitments have been terminated or reduced to zero, Revolving Credit Lenders holding greater than 66.7% of the principal amount of the aggregate Revolving Credit Exposure; provided that (a) in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Revolving Credit Commitment Percentages of the Revolving Credit Lenders shall be redetermined for voting purposes only to exclude the Revolving Credit Commitment Percentages of such Defaulting Lenders, and (b) at all times when there are two (2) or more Revolving Credit Lenders under this Agreement, Required Revolving Credit Lenders shall also require at least two (2) Revolving Credit Lenders.

Appears in 2 contracts

Samples: Credit Agreement (CoreSite Realty Corp), Credit Agreement (CoreSite Realty Corp)

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Required Revolving Credit Lenders. As of any date, the Revolving Credit Lender or Revolving Credit Lenders whose aggregate Revolving Credit Commitment Percentage is equal to or greater than sixty sixty-six and 7/10 percent (66.7%) of the Total Revolving Credit Commitments, or, if the Revolving Credit Commitments have been terminated or reduced to zero, Revolving Credit Lenders holding greater than 66.7% of the principal amount of the aggregate Revolving Credit ExposureCommitment; provided that (a) in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Revolving Credit Commitment Percentages of the Revolving Credit Lenders shall be redetermined for voting purposes only to exclude the Revolving Credit Commitment Percentages of such Defaulting Lenders, and (b) at all times when ; provided that if there are two three (23) or more fewer Revolving Credit Lenders under this AgreementLenders, then Required Revolving Credit Lenders shall also require at least mean two (2) Revolving Credit Lenders that are Non-Defaulting Lenders (or if there shall not be two (2) Revolving Credit Lenders that are Non-Defaulting Lenders, then such fewer number of Revolving Credit Lenders that are Non-Defaulting Lenders.

Appears in 2 contracts

Samples: Credit Agreement (GTJ Reit, Inc.), Credit Agreement (GTJ Reit, Inc.)

Required Revolving Credit Lenders. As of any date, the any Revolving Credit Lender or collection of Revolving Credit Lenders whose aggregate Revolving Credit Commitment Percentage is equal to or greater than sixty six and 7/10 fifty percent (66.750%) of the Total Revolving Credit CommitmentsCommitment; provided, or, if the Revolving Credit Commitments have been terminated that (i) at all times when two (2) or reduced to zero, more Non-Defaulting Revolving Credit Lenders holding greater than 66.7% of are party to this Agreement, the principal amount of the aggregate term “Required Revolving Credit Exposure; provided that Lenders” shall in no event mean less than two (a2) Non-Defaulting Revolving Credit Lenders, and (ii) in determining said percentage at any given time, all then the existing Revolving Credit Lenders that are Defaulting Lenders will be disregarded and excluded and the Revolving Credit Commitment Percentages of the Revolving Credit Lenders shall be redetermined for voting purposes only to exclude the Revolving Credit Commitment Percentages of such Defaulting Lenders, and (b) at all times when there are two (2) or more Revolving Credit Lenders under this Agreement, Required Revolving Credit Lenders shall also require at least two (2) Revolving Credit Lenders.

Appears in 1 contract

Samples: Credit Agreement (Monogram Residential Trust, Inc.)

Required Revolving Credit Lenders. As of any date, the Revolving Credit Lender or Revolving Credit Lenders whose aggregate Revolving Credit Commitment Percentage is equal to or greater than sixty six and 7/10 fifty percent (66.750.0%) of the Total Revolving Credit Commitments, or, if the Revolving Credit Commitments have been terminated or reduced to zero, Revolving Credit Lenders holding greater than 66.7% of the principal amount of the aggregate Revolving Credit ExposureCommitment; provided that (a) in determining said percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Revolving Credit Commitment Percentages of the Revolving Credit Lenders shall be redetermined for voting purposes only to exclude the Revolving Credit Commitment Percentages of such Defaulting Lenders, and (b) at all times when there are two (2) or more Revolving Credit Lenders under this Agreement, ; provided that Required Revolving Credit Lenders shall also require include at least two (2) Revolving Credit Lenders that are Non-Defaulting Lenders (or if there shall not be two (2) Non-Defaulting Lenders, then such fewer number of Revolving Credit Lenders as are Non-Defaulting Lenders).

Appears in 1 contract

Samples: Credit Agreement (Modiv Inc.)

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Required Revolving Credit Lenders. As of any date, the Revolving Credit Lender or Revolving Credit Lenders whose aggregate Revolving Credit Commitment Percentage is equal to or greater than sixty six and 7/10 fifty-one percent (66.751%) of the aggregate amount of the Revolving Credit Commitments, or, if the Revolving Credit Commitments have been terminated or reduced to zero, Revolving Credit Lenders holding whose aggregate Revolving Credit Commitment Percentage is equal to or greater than 66.7% fifty-one percent (51%) of the principal amount of the aggregate Revolving Credit Exposure; provided that (a) in determining said percentage such Revolving Credit Commitment Percentage at any given time, all then existing Defaulting Revolving Credit Lenders will be disregarded and excluded and the Revolving Credit Commitment Percentages of the Revolving Credit Lenders shall be redetermined redetermined, for voting purposes only only, to exclude the Revolving Credit Commitment Percentages of such Defaulting Revolving Credit Lenders, and (b) at all times when there are two (2) or more Revolving Credit Lenders under this Agreement, Required Revolving Credit Lenders shall also require at least two (2) Revolving Credit Lenders.more

Appears in 1 contract

Samples: Credit Agreement (Independence Realty Trust, Inc)

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