Majority Term Loan B Lenders definition

Majority Term Loan B Lenders means all Term Loan B Lenders. The portion of the Indebtedness attributable to, any Defaulting Lender shall be excluded for purposes of making a determination of “Majority Term Loan B Lenders”.
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Majority Term Loan B Lenders shall in no event mean less than two (2) Term Loan B Lenders, and (ii) that in determining said percentage at any given time, all the existing Term Loan B Lenders that are Defaulting Lenders will be disregarded and excluded and the Term Loan B Commitment Percentages of the Term Loan B Lenders shall be redetermined for voting purposes only to exclude the Term Loan B Commitments of such Defaulting Lenders.
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Majority Term Loan B Lenders means at any time with respect to the Term Loan B, Term Loan B Lenders holding more than 50.0% of the aggregate principal amount then outstanding under Term Loan B; provided however that so long as there are fewer than three Term Loan B Lenders, considering any Term Loan B Lender and its Affiliates as a single Term Loan B Lender, “Majority Term Loan B Lenders” shall mean all Term Loan B Lenders. The portion of the Indebtedness attributable to, any Defaulting Lender shall be excluded for purposes of making a determination of “Majority Term Loan B Lenders”.
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Examples of Majority Term Loan B Lenders in a sentence

  • If Agent seeks the consent or approval of Majority Lenders, Majority Term Loan B Lenders, or a greater or lesser number of Lenders as required in this Agreement, with respect to any action hereunder, Agent shall send notice thereof to each Lender and shall notify each Lender at any time that Majority Lenders, Majority Term Loan B Lenders, or such greater or lesser number of Lenders have instructed Agent to act or refrain from acting pursuant hereto.

  • DOC believes that NOI provides an accurate measure of operating performance of its operating assets because NOI excludes certain items that are not associated with management of the properties.

  • No section of this Agreement or type of Loan available hereunder may be terminated singly; PROVIDED, HOWEVER, THAT, the Revolving Credit Facility may be terminated singly if Borrowers shall have entered into a replacement or extension revolving credit facility acceptable to Majority Term Loan B Lenders.

  • At the option of the Tranche B Agent or Majority Term Loan B Lenders, upon and after the occurrence of an Event of Default, and during the continuation thereof, the principal amount of Term Loan B shall bear interest at a rate per annum equal to 4% plus the interest rate otherwise ---- applicable thereto (the "Tranche B Default Rate"), and, thereupon (during the continuation of such Event of Default), the Term Loan B Current Pay Interest shall increase to 10% per annum.

  • At the option of the Tranche B Agent or Majority Term Loan B Lenders, upon and after the occurrence of an Event of Default, and during the continuation thereof, the principal amount of Term Loan B shall bear interest at a rate per annum equal to 4% plus ---- the interest rate otherwise applicable thereto (the "Tranche B Default Rate"), and, thereupon (during the continuation of such Event of Default), the Term Loan B Current Pay Interest shall increase to 16% per annum.

  • At the option of Term Loan B Agent or the Majority Term Loan B Lenders, upon and after the occurrence of an Event of Default, and during the continuation thereof, the principal amount of the Term Loan B shall bear interest at a rate per annum equal to 2% plus the interest rate otherwise applicable thereto.

  • Until the applicable principal payment is made, the reserve described in the immediately preceding sentence may not be released without the consent of Majority Term Loan B Lenders.

  • Interest accrued on each LIBOR ------------- Portion shall be due and payable on each LIBOR Interest Payment Date and on the earlier of (1) the occurrence of an Event of Default in consequence of which Agent, Majority Lenders or Majority Term Loan B Lenders (to the extent permitted under Section 10.2) elect to accelerate the maturity and payment of the Obligations or (2) termination of this Agreement pursuant to Section 4 hereof.

  • Agent may, and at the direction of ---------------------- Majority Lenders or Majority Term Loan B Lenders (to the extent permitted under Section 10.2) shall, terminate this Agreement without notice upon or after the occurrence and during the continuance of an Event of Default.

  • Agent may, and at the ---------------------- direction of Majority Lenders or Majority Term Loan B Lenders (to the extent permitted under Section 10.2) shall, terminate this Agreement without notice upon or after the occurrence and during the continuance of an Event of Default.


More Definitions of Majority Term Loan B Lenders

Majority Term Loan B Lenders or "Required Lenders", (6) amend Section 3.11 or this Section 11.10, (7) reduce the amount of the Special Reserve or the Rebuild Reserve, (8) share the Lien of the Collateral with any other obligations of any Borrower, (9) release or subordinate Agent's Lien on any Collateral to the extent not permitted pursuant to Section 11.7, or (10) amend, modify, waive or consent to any departure from the amortization schedule or any mandatory or required prepayment (whether or not scheduled) of the principal of Term Loan A;
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Majority Term Loan B Lenders means at any time, either of the following:
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Related to Majority Term Loan B Lenders

  • Majority Term Lenders at any time, (a) if only one Term Lender holds the Term Loan, such Term Lender; and (b) if more than one Term Lender holds the Term Loan, at least two Term Lenders who hold more than 50% of the principal sum of all Term Loans outstanding; provided that the portion of the Term Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Term Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Requisite Term Loan Lenders shall in no event mean less than two Term Loan Lenders.

  • Required Term Loan Lenders means, at any date, Non-Defaulting Lenders having or holding a majority of the sum of (i) the Adjusted Total Term Loan Commitment at such date and (ii) the aggregate outstanding principal amount of the Term Loans (excluding Term Loans held by Defaulting Lenders) at such date.

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

  • Majority Revolving Lenders at any time, (a) if only one Revolving Lender holds the Total Revolving Commitments at such time, such Revolving Lender, both before and after the termination of such Revolving Commitment; and (b) if more than one Revolving Lender holds the Total Revolving Commitment, at least two Revolving Lenders who hold more than 50% of the Total Revolving Commitments (including, without duplication, the L/C Commitments) or, at any time after the termination of the Revolving Commitments when such Revolving Commitments were held by more than one Revolving Lender, at least two Revolving Lenders who hold more than 50% of the Total Revolving Extensions of Credit then outstanding (including, without duplication, any L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time)); provided that the Revolving Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Majority Revolving Lenders; provided further that a Lender and its Affiliates shall be deemed one Lender.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Tranche B Term Loan Lender means a Lender with a Tranche B Term Loan Commitment or an outstanding Tranche B Term Loan.

  • Tranche A Term Loan Lender means a Lender with a Tranche A Term Loan Commitment or an outstanding Tranche A Term Loan.

  • Initial Term Loan Lender means a Lender with an Initial Term Loan Commitment or an outstanding Initial Term Loan.

  • Majority Revolving Credit Lenders means Revolving Credit --------------------------------- Lenders having at least 51% of the aggregate amount of the Revolving Credit Commitments or, if the Revolving Credit Commitments shall have terminated, Lenders holding at least 51% of the sum of (a) the aggregate unpaid principal amount of the Revolving Credit Loans plus (b) the aggregate amount of all Letter of Credit Liabilities.

  • Term Loan Lenders means the financial institutions from time to time parties hereto as lenders of the Term Loan.

  • New Term Loan Lender shall have the meaning provided in Section 2.14(c).

  • Supermajority Lenders means Lenders having (a) 66.67% or more of the Commitments of all Lenders, or (b) if the Commitments have been terminated, 66.67% or more of the aggregate outstanding amount of the Revolving Credit Advances.

  • Tranche B Lenders means the Lenders who hold Tranche B Loans or who have Tranche B Commitments.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • Required Term Lenders means, as of any date of determination, Term Lenders holding more than 50% of the Term Facility on such date; provided that the portion of the Term Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term Lenders.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Required Term B Lenders means, as of any date of determination, Term B Lenders holding more than 50% of the Term B Facility on such date; provided that the portion of the Term B Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term B Lenders.

  • Term Loan A has the meaning set forth in Section 2.2(a).

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Term Loan Lender means a Lender with a Term Loan Commitment or an outstanding Term Loan.

  • Required Term A Lenders means, as of any date of determination, Term A Lenders holding more than 50% of the Term A Facility on such date; provided that the portion of the Term A Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term A Lenders.

  • Tranche A Term Loan Commitment means the commitment of a Lender to make a Tranche A Term Loan to Company pursuant to subsection 2.1A(i), and "Tranche A Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Term Loan Agent means “Term Loan Agent” as defined in the Intercreditor Agreement.

  • New Term Loan Commitments shall have the meaning provided in Section 2.14(a).

  • Tranche B Term Lender each Lender that has a Tranche B Term Commitment or that holds a Tranche B Term Loan.