Required Participants definition

Required Participants means, at any date of determination, more than fifty percent (50%) of Participants.

Required Participants means at any time, the Participants holding at least 66 2/3% of the sum of (x) aggregate Funded Participant's Interest, plus (y) the Participant's Unused Commitments, or, following the termination of the Commitment and the Loan Commitments, the Participants holding at least 66 2/3% of the aggregate outstanding Funded Participant's Interests at such time.

Required Participants means (x) at any time prior to termination of the Facility Commitment, Participants holding at least fifty-one percent (51%) of the sum of (A) the aggregate Funded Participations, plus (B) the Participant’s Unused Commitments, and (y) at any time on and after the termination of the Facility Commitment, Participants holding at least fifty-one percent (51%) of the aggregate outstanding Funded Participations at such time; provided however, that to the extent that any Participant is a Defaulting Participant, such Defaulting Participant and all of its Participating Commitments, Funded Participations and Participant’s Unused Commitments shall be excluded for purposes of determining Required Participants.

Examples of Required Participants in a sentence

• Lessee hereby authorizes Lessor and the Administrative Agent to file any and all financing statements covering the Security Property or any part thereof that Lessor or the Required Participants may require.

• Any insurance company selected by Lessee shall be rated in A.M. Best’s Insurance Guide or any successor thereto (or if there be none, an organization having a similar national reputation) and shall have a general policyholder rating of “A” (or comparable rating for a rating by an organization other than A.M. Best) and a financial rating of at least “X” (or comparable rating for a rating by an organization other than A.M. Best) or be otherwise acceptable to the Required Participants.

• Such other insurance, in each case as is generally carried by Guarantor, Lessee or their respective Affiliates for similar properties owned or leased by any of them or by other owners of similar properties in such amounts and against such risks as are then customary for properties similar in use and to the extent required by Required Participants and, to the extent required by any Participant, flood insurance to the extent required by Applicable Laws applicable to any Participant.

• Except as otherwise prohibited or restricted by the Loan Documents (and such prohibitions and restrictions are hereby incorporated by reference as if set forth herein) or applicable law, Participant agrees that, with regard to the Transferred Interest, Seller shall act or refrain from acting in respect of any request, act or decision under the Loan Documents (each an “Action”) in accordance with the directions, or pursuant to the consent of, the Required Participants.

• Following Lessee’s election of the Sale Option, Lessee shall not remove any Modifications other than Improvements or commence any voluntary Modifications under Section 10.1(a)(ii) without the consent of the Required Participants.

More Definitions of Required Participants

Required Participants means at any time Participants representing 66-2/3% of the aggregate Commitments of the Lenders and Certificate Holders, or if such Commitments shall have been terminated, Participants representing at least 66-2/3% of the aggregate of Loans and Certificate Holder Amounts outstanding; provided, however, that any Defaulting Participant's Commitments, Loans or Certificate Holder Amounts, as the case may be, shall be excluded therefrom.

Required Participants means (x) at any time prior to termination of the Commitments, Participants holding at least 66 2/3% of the sum of (x) the aggregate Funded Participant’s Interests, plus (y) the Participant’s Unused Commitments, and (y) at any time on and after the termination of the Commitments, Participants holding at least 66 2/3% of the aggregate outstanding Funded Participant’s Interests at such time.

Required Participants means, as of the date of the determination, (i) for purposes of any amendment, modification or waiver of Article IV, Article V (to the extent such amendment, modification or waiver reduces or adversely effects the rights, duties or interests of Participants of one or more classes of Notes or Certificates without equally affecting the rights, duties or interests of the Participants holding Notes or Certificates of the other class or classes), Article VI (to the extent such amendment, modification or waiver reduces or adversely effects the rights, duties or interests of Participants of one or more classes of Notes or Certificates without equally affecting the rights, duties or interests of the Participants holding Notes or Certificates of the other class or classes), Article VIII (to the extent such amendment, modification or waiver relates to the articles described in this clause (i)) and Article IX of the Lease, (A) Lenders holding at least a majority in aggregate principal amount of the Class A Notes and (B) Lenders holding at least a majority in aggregate principal amount of the Class B Notes and (C) Certificate Purchasers holding at least a majority in aggregate principal amount of Certificates, (ii) for purposes of the Trust Agreement, Certificate Purchasers holding at least a majority in aggregate principal amount of the Certificates and (iii) for all other purposes, subject to Section 9.5 of the Participation Agreement, Participants holding at least a majority in aggregate principal amount of Notes and Certificates.

Required Participants means, at any time, the Participants whose aggregate Credit Exposures (as hereinafter defined) constitute more than 50% of the aggregate Credit Exposure of all Participants at such time. For purposes of the preceding sentence, the term “Credit Exposure” as applied to (i) the Lessor shall mean the outstanding Lessor Amount owed to the Lessor at such time and (ii) each Lender shall mean the aggregate principal amount of Loans held by such Lender at such time net of any distributions (other than distributions of Interest) with respect thereto.

Required Participants means, at any time, Participants the Commitment Percentages of which aggregate at least 66 2/3%.

Required Participants means the Lessor and the Required Lenders.

Required Participants shall refer to those Participants holding Participations representing in excess of a majority of the Participating Percentages.