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

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.

Examples of Super Majority Banks in a sentence

• Where this Agreement expressly permits or prohibits an action unless the requisite Required Banks or Super Majority Banks otherwise determine, the Administrative Agent shall, and in all other instances, the Administrative Agent may, but shall not be required to, initiate any solicitation for the consent or a vote of the requisite Banks.

• The Administrative Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement or any other Loan Paper in accordance with a request or consent of the requisite Required Banks, Super Majority Banks or all the Banks, if required hereunder, and such request and any action taken or failure to act pursuant thereto shall be binding upon all the Banks and participants.

• The Administrative Agent shall be fully justified in failing or refusing to take any action under any Loan Paper unless it shall first receive such advice or concurrence of the requisite Required Banks or the Super Majority Banks as it deems appropriate and, if it so requests, it shall first be indemnified to its satisfaction by the Banks against any and all liability and expense which may be incurred by it by reason of taking or continuing to take any such action.

• No amendment, modification, termination, or waiver of any provision of this Agreement or of the Notes or of the Guaranty, nor any consent to any variance therefrom, shall be effective unless the same shall be in writing and signed by the Required Banks, the Super Majority Banks or all of the Banks, as appropriate, under this Section 13.02, and any such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given.

• In the event Super Majority Banks request such a Special Determination, Administrative Agent shall promptly deliver notice of such request to Borrower and Borrower shall, within 20 days following the date of such request, deliver to Banks a Reserve Report prepared as of the last day of the calendar month preceding the date of such request.

More Definitions of Super Majority Banks

Super Majority Banks means, at any time, Banks, including Chase, 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 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 shall have the meaning set forth in Section 13.02 hereof.

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 means Banks, the sum of whose outstanding Revolving Loan Commitments (or after the termination thereof, outstanding Revolving Loans) represent an amount greater than or equal to 80% of the Total Revolving Loan Commitment (or after the termination thereof, the sum of the total outstanding Revolving Loans at such time).

Super Majority Banks means, as of any date of determination, the -------------------- Agent and such Bank or Banks as have Revolving Credit Commitments or Term Loans outstanding equal to or in excess of 75% of the sum of the Aggregate Revolving Credit Commitment plus all Term Loans then outstanding.