Requisite Tranche B Lenders definition

Requisite Tranche B Lenders means Tranche B Lenders holding at least 50.1% of the aggregate outstanding principal amount of the Tranche B Construction Loans or the Tranche B Term Loans, as applicable, or, if no Tranche B Construction Loans have been made, at least 50.1% of the aggregate Tranche B Construction Loan Commitments of all Tranche B Lenders.

Requisite Tranche B Lenders means, (a) at any time when there are more than two Tranche B Lenders, Tranche B Lenders holding unfunded Tranche B Commitments and outstanding Tranche B Loans representing more than 50% of the sum of all unfunded Tranche B Commitments of the Tranche B Lenders and the all of outstanding Tranche B Loans of the Tranche B Lenders and (b) at any time when there are one or two Tranche B Lenders, all Tranche B Lenders, provided, however, that for purposes of determining whether there are more than two Tranche B Lenders, a Tranche B Lender and each of its Approved Funds shall be deemed to constitute a single Tranche B Lender and; provided further that, if there are two or more Tranche B Lenders, the Tranche B Commitment of, and the portion of Tranche B Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Requisite Tranche B Lenders unless all Tranche B Lenders are Defaulting Lenders.

Requisite Tranche B Lenders. Supermajority Tranche A Revolving Lenders", "Supermajority Tranche B Revolving Lenders", "Senior Obligations", "Inventory Loans", "Inventory Overadvances", "Tranche A Inventory Loan Limit", "Tranche B Inventory Loan Limit", "Super Tranche B Default", or "Reserves" insofar as such definitions affect the substance of this Section 11.2. Furthermore, no amendment, modification, termination or waiver affecting the rights or duties of either Agent or Oversight Agent under this Agreement or any other Loan Document shall be effective unless in writing and signed by Agent or Oversight Agent, as the case may be, in addition to Lenders required hereinabove to take such action. Each amendment, modification, termination or waiver shall be effective only in the specific instance and for the specific purpose for which it was given. No amendment, modification, termination or waiver shall be required for Agent to take additional Collateral pursuant to any Loan Document. No amendment, modification, termination or waiver of any provision of any Note shall be effective without the written concurrence of the holder of that Note. No notice to or demand on any Credit Party in any case shall entitle such Credit Party or any other Credit Party to any other or further notice or demand in similar or other circumstances. Any amendment, modification, termination, waiver or consent effected in accordance with this Section 11.2 shall be binding upon each Lender.

Examples of Requisite Tranche B Lenders in a sentence

• So long as any of the Obligations remain outstanding, each Credit Party agrees, unless the Requisite Lenders and the Requisite Tranche B Lenders shall otherwise consent in writing, to comply with the following covenants.

• The Credit Parties may not assign this Amendment or any of their respective rights or obligations hereunder to any Person without the prior written consent of the Requisite Lenders and the Requisite Tranche B Lenders, which consent may be withheld or given in each such Lender’s sole discretion.

• Any successor Agent appointed by Tranche A Requisite Lenders and the Requisite Tranche B Lenders hereunder shall be subject to the approval of Borrower, such approval not to be unreasonably withheld or delayed; provided that such approval shall not be required if a Default or an Event of Default shall have occurred and be continuing.

• The consent of JPMorgan Chase Bank, N.A. pursuant to Section 6(a) of the Intercreditor Agreement, in form and substance reasonably acceptable to the Requisite Lenders and the Requisite Tranche B Lenders, shall have been obtained.

• Notwithstanding anything herein which may be construed to the contrary, Lender and Borrower acknowledge and agree that (A) Agent has engaged Paragon as the Oversight Agent pursuant to the Oversight Agreement as it may be modified and amended from time to time, (B) the Oversight Agent may carry out its duties as set forth in such agreement, and (C) Oversight Agent may not be removed without the consent of the Requisite Tranche A Lenders and the Requisite Tranche B Lenders.

More Definitions of Requisite Tranche B Lenders

Requisite Tranche B Lenders means the Tranche B Lenders holding a majority of the principal amount then outstanding of Tranche B.

Requisite Tranche B Lenders means (a) Tranche B Revolving Lenders having more than sixty-six and two-thirds percent (66- 2/3%) of the Commitments of all Tranche B Revolving Lenders, or (b) if the Commitments have been terminated, more than sixty-six and two- thirds percent (66-2/3%) of the aggregate outstanding amount of the Tranche B Revolving Loans.

Requisite Tranche B Lenders means, as of any date of determination, Tranche B Lenders having in the aggregate Commitments equal to 66-2/3 /3 % of the Loan Commitment attributable to Tranche B, or if the Loan Commitment has been terminated, Tranche B Lenders holding Tranche B Notes evidencing in the aggregate 66-2/3% or more of the Tranche B Loans then outstanding.

Requisite Tranche B Lenders means Lenders having more than 66 2/3% of the Tranche B Loan Commitments of all Lenders.

Requisite Tranche B Lenders. “Requisite Delayed Draw Term Lenders”, “Requisite Revolving Credit Lenders” or “Ratable Portion”; provided, that in connection with the addition to the Facilities of a new tranche of loans, this Section 11.1 and the definition of “Ratable Portion” and “Requisite Lenders” may be amended with the consent of the Requisite Lenders in order to provide the lenders of such new tranche of loans with voting rights proportionate to the commitments of such new lenders and; provided, further, that

Requisite Tranche B Lenders means Tranche B Lenders having at least fifty-one percent (51%) of the aggregate outstanding amount of the Tranche B Commitments and, after the Effective Date, fifty-one percent (51%) of the aggregate Tranche B Loans then outstanding.

Requisite Tranche B Lenders means, collectively, Tranche B Lenders having more than fifty percent (50%) of the aggregate outstanding amount of the Tranche B Commitments or, after the Termination Date, more than fifty percent (50%) of the aggregate Tranche B Outstandings. A Non-Funding Lender that is a Tranche B Lender shall not be included in the calculation of "Requisite Tranche B Lenders."