Non-Consenting Lender definition: Copy, customize, and use instantly
Introduction
The term "Non-Consenting Lender" refers to a lender who does not agree to a proposed modification, amendment, or consent requested by the borrower or other lenders under the terms of a loan agreement. This term is critical in financial agreements where certain decisions require the consent of all or a specified majority of lenders. A non-consenting lender may face certain limitations or penalties due to their refusal to consent to the proposed change.
Below are various examples of how "Non-Consenting Lender" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Non-Consenting Lender" for loan amendments
This definition ties "Non-Consenting Lender" to loan amendments.
"Non-Consenting Lender" means a lender that does not consent to any amendment, modification, or waiver of any provision of the loan agreement or related documents as requested by the borrower or other lenders.
Definition of "Non-Consenting Lender" for decision-making
This definition connects "Non-Consenting Lender" to decision-making.
"Non-Consenting Lender" refers to a lender who withholds consent or approval for any major decision or action required by the terms of the credit agreement, including changes to interest rates, repayment schedules, or other material terms.
Definition of "Non-Consenting Lender" for refinancing
This definition links "Non-Consenting Lender" to refinancing.
"Non-Consenting Lender" means a lender who does not provide consent for a refinancing or restructuring of the existing loan agreement, despite being required to do so under the terms of the agreement.
Definition of "Non-Consenting Lender" for amendments to security interests
This definition applies "Non-Consenting Lender" to amendments to security interests.
"Non-Consenting Lender" refers to a lender who refuses to consent to any proposed change in the security interests or collateral arrangements under the loan agreement, which would otherwise require the lender’s approval.
Definition of "Non-Consenting Lender" for waivers
This definition connects "Non-Consenting Lender" to waivers.
"Non-Consenting Lender" means a lender who declines to grant a waiver for any event of default or breach of the loan agreement, even when such waiver is requested by the borrower or other consenting lenders.
Definition of "Non-Consenting Lender" for borrower’s requests
This definition links "Non-Consenting Lender" to borrower requests.
"Non-Consenting Lender" refers to a lender that does not agree to any request made by the borrower for a modification of the loan agreement, such as a change in the repayment terms or the extension of maturity.
Definition of "Non-Consenting Lender" for sale or transfer of loan
This definition ties "Non-Consenting Lender" to the sale or transfer of the loan.
"Non-Consenting Lender" means a lender who does not consent to the sale, assignment, or transfer of any part of the loan, as permitted under the loan agreement.
Definition of "Non-Consenting Lender" for payment rescheduling
This definition connects "Non-Consenting Lender" to payment rescheduling.
"Non-Consenting Lender" refers to a lender who does not approve or agree to a rescheduling or deferral of any payment or installment under the terms of the loan agreement.
Definition of "Non-Consenting Lender" for debt restructuring
This definition links "Non-Consenting Lender" to debt restructuring.
"Non-Consenting Lender" means a lender who refuses to consent to a proposed debt restructuring, including a change in the payment terms, interest rates, or principal repayment structure.
Definition of "Non-Consenting Lender" for covenant modifications
This definition applies "Non-Consenting Lender" to covenant modifications.
"Non-Consenting Lender" refers to a lender who withholds consent to any modification or waiver of the financial or other covenants set forth in the loan agreement.
Definition of "Non-Consenting Lender" for release of guarantees
This definition connects "Non-Consenting Lender" to the release of guarantees.
"Non-Consenting Lender" means a lender who does not consent to the release or modification of any guarantees or other security arrangements securing the loan.
Definition of "Non-Consenting Lender" for workout agreements
This definition links "Non-Consenting Lender" to workout agreements.
"Non-Consenting Lender" refers to a lender that does not participate in or agree to a workout agreement or other arrangement designed to avoid default or facilitate the restructuring of the borrower’s obligations.
Definition of "Non-Consenting Lender" for change in borrowing base
This definition applies "Non-Consenting Lender" to a change in borrowing base.
"Non-Consenting Lender" means a lender who does not approve of a proposed adjustment to the borrowing base, which impacts the amount available for the borrower to draw upon under the loan agreement.
Definition of "Non-Consenting Lender" for waiver of conditions precedent
This definition ties "Non-Consenting Lender" to the waiver of conditions precedent.
"Non-Consenting Lender" refers to a lender who does not consent to the waiver of any conditions precedent required to close a loan facility or make advances under the loan agreement.
Definition of "Non-Consenting Lender" for lender’s vote
This definition connects "Non-Consenting Lender" to a lender’s vote.
"Non-Consenting Lender" means a lender who, although given the opportunity to vote on a proposed amendment, waiver, or consent, elects not to consent or approve the proposed change.
Definition of "Non-Consenting Lender" for increase in loan facility
This definition links "Non-Consenting Lender" to an increase in loan facility.
"Non-Consenting Lender" refers to a lender who does not approve an increase in the loan facility or any other action that would expand the borrower’s borrowing capacity.
Definition of "Non-Consenting Lender" for collateral release
This definition applies "Non-Consenting Lender" to collateral release.
"Non-Consenting Lender" means a lender who does not consent to the release or substitution of collateral securing the loan, as requested by the borrower or other consenting lenders.
Definition of "Non-Consenting Lender" for restructuring transaction
This definition connects "Non-Consenting Lender" to a restructuring transaction.
"Non-Consenting Lender" refers to a lender who withholds consent from a proposed restructuring transaction, including any modifications to the loan structure or terms.
Definition of "Non-Consenting Lender" for transfer restrictions
This definition links "Non-Consenting Lender" to transfer restrictions.
"Non-Consenting Lender" means a lender who objects to or does not consent to any proposed restrictions on the transfer of their loan interests, as set forth in the loan agreement.
Definition of "Non-Consenting Lender" for amendment to terms of loan agreement
This definition ties "Non-Consenting Lender" to an amendment to the loan agreement.
"Non-Consenting Lender" refers to a lender who refuses to consent to any proposed amendment to the terms of the loan agreement, including changes to payment terms, interest rates, or maturity dates.
Definition of "Non-Consenting Lender" for acceleration of debt
This definition connects "Non-Consenting Lender" to acceleration of debt.
"Non-Consenting Lender" means a lender who does not consent to the acceleration of the debt under the loan agreement, despite a default event or request by other lenders to accelerate the loan.
Definition of "Non-Consenting Lender" for material adverse effect
This definition applies "Non-Consenting Lender" to a material adverse effect.
"Non-Consenting Lender" refers to a lender who refuses to consent to any changes that might result in a material adverse effect on the loan terms or the borrower’s financial condition.
Definition of "Non-Consenting Lender" for consent to new borrowing
This definition links "Non-Consenting Lender" to consent to new borrowing.
"Non-Consenting Lender" means a lender who does not consent to the borrower incurring new debt or borrowing from other sources, contrary to the terms of the loan agreement.
Definition of "Non-Consenting Lender" for creditor rights
This definition ties "Non-Consenting Lender" to creditor rights.
"Non-Consenting Lender" refers to a lender who does not agree to any proposed changes that would affect the rights of creditors, such as the modification of the order of payments or restructuring of debt.
Definition of "Non-Consenting Lender" for enforceability of amendments
This definition connects "Non-Consenting Lender" to the enforceability of amendments.
"Non-Consenting Lender" means a lender whose failure to consent to an amendment to the loan agreement or other changes can affect the enforceability of such amendments among the participating lenders.
Definition of "Non-Consenting Lender" for lending syndicates
This definition links "Non-Consenting Lender" to lending syndicates.
"Non-Consenting Lender" refers to a lender in a syndicated loan who does not agree to a proposed modification or restructuring plan that is acceptable to the majority of the syndicate participants.
Definition of "Non-Consenting Lender" for default provisions
This definition applies "Non-Consenting Lender" to default provisions.
"Non-Consenting Lender" refers to a lender who does not consent to a modification of the loan agreement’s default provisions or terms, such as extending default cure periods or altering default triggers.
Definition of "Non-Consenting Lender" for consent fees
This definition connects "Non-Consenting Lender" to consent fees.
"Non-Consenting Lender" means a lender who refuses to grant consent to an amendment or restructuring and may be subject to additional fees or penalties as a result of their non-consent.
Definition of "Non-Consenting Lender" for inter-creditor agreements
This definition ties "Non-Consenting Lender" to inter-creditor agreements.
"Non-Consenting Lender" refers to a lender who does not consent to an amendment or modification of the inter-creditor agreement, which governs the relationship between creditors in a multi-lender arrangement.
Definition of "Non-Consenting Lender" for payment of fees
This definition links "Non-Consenting Lender" to the payment of fees.
"Non-Consenting Lender" means a lender who refuses to consent to any payment of fees, including consent fees, transaction fees, or restructuring fees, associated with an amendment or waiver to the loan agreement.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.