Required Lenders definition: Copy, customize, and use instantly
Introduction
The term "Required Lenders" refers to the lenders whose consent or approval is needed for specific actions or decisions under the terms of a loan agreement or credit facility. It is essential for defining the threshold of lender involvement, particularly when changes to the agreement, such as amendments or waivers, are proposed.
Below are various examples of how "Required Lenders" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Required Lenders" as a percentage of lenders
This definition ties "Required Lenders" to a specific percentage of lenders in a syndicate or group.
"Required Lenders" means lenders holding more than [X]% of the total outstanding loan amounts or commitments under the facility, whose consent is required for amendments, modifications, or waivers.
Definition of "Required Lenders" as a majority of lenders
This definition connects "Required Lenders" to the majority of lenders in a syndicate or agreement.
"Required Lenders" refers to lenders representing a majority of the outstanding loan commitments, who must approve certain actions or decisions as stipulated in this Agreement.
Definition of "Required Lenders" as a designated number of lenders
This definition links "Required Lenders" to a fixed number of lenders whose approval is needed.
"Required Lenders" means the number of lenders specified in this Agreement, whose approval is necessary for certain actions, such as amendments or waivers.
Definition of "Required Lenders" as a specific group of lenders
This definition applies "Required Lenders" to a particular group of lenders, such as those holding senior positions.
"Required Lenders" refers to lenders designated as senior lenders in the agreement, whose consent is necessary for changes to the agreement’s terms.
Definition of "Required Lenders" as lenders with a specified share of obligations
This definition ties "Required Lenders" to lenders holding a specified share of the total obligations under the loan or credit agreement.
"Required Lenders" means lenders holding at least [X]% of the total principal obligations under the credit facility, whose consent is required for amendments or actions requiring lender approval.
Definition of "Required Lenders" as lenders involved in a specific facility
This definition connects "Required Lenders" to those involved in a specific credit facility or loan agreement.
"Required Lenders" refers to the lenders under this specific facility who hold at least [X]% of the total commitment amount, whose approval is needed for certain actions.
Definition of "Required Lenders" as all lenders under the agreement
This definition links "Required Lenders" to all lenders under a particular agreement.
"Required Lenders" means all lenders who have provided funding under this Agreement and whose collective consent is necessary to approve any amendments or waivers.
Definition of "Required Lenders" as lenders with a certain voting power
This definition applies "Required Lenders" to lenders with specific voting rights in the decision-making process.
"Required Lenders" refers to those lenders who, when acting collectively, hold voting power equivalent to at least [X]% of the total voting rights within the lender group.
Definition of "Required Lenders" as lenders providing a minimum amount
This definition ties "Required Lenders" to lenders that have provided a minimum amount of capital or credit.
"Required Lenders" means the lenders whose aggregate contributions to the loan or credit facility total at least [X]% of the total credit provided, and who must approve key decisions.
Definition of "Required Lenders" as a set percentage for waivers or amendments
This definition connects "Required Lenders" to a specified percentage of lenders necessary to approve waivers or amendments.
"Required Lenders" refers to lenders representing at least [X]% of the total commitments or outstanding obligations, whose consent is needed for waivers, amendments, or modifications to this Agreement.
Definition of "Required Lenders" as lenders with specified rights
This definition links "Required Lenders" to those lenders with rights to approve certain contract actions.
"Required Lenders" means lenders holding the majority of the total commitments or obligations, whose consent is required for any material changes to this Agreement.
Definition of "Required Lenders" as lenders with controlling influence
This definition applies "Required Lenders" to those with controlling influence over key decisions.
"Required Lenders" refers to the lenders whose collective commitments or obligations exceed a specified threshold, and whose consent is required for any significant changes to the loan agreement.
Definition of "Required Lenders" as those holding a specified portion of debt
This definition connects "Required Lenders" to lenders who hold a specified portion of the debt.
"Required Lenders" means lenders holding at least [X]% of the total outstanding debt or obligations under this Agreement, whose consent is necessary for material decisions or amendments.
Definition of "Required Lenders" as lenders with voting rights
This definition ties "Required Lenders" to those lenders who have been granted voting rights for approval purposes.
"Required Lenders" refers to lenders who possess voting rights in accordance with the terms of this Agreement, and whose collective approval is required for certain actions.
Definition of "Required Lenders" as a supermajority of lenders
This definition links "Required Lenders" to a supermajority of the total lenders.
"Required Lenders" means the lenders who collectively represent a supermajority, or [X]%, of the total commitments, and whose approval is necessary for material amendments or decisions under this Agreement.
Definition of "Required Lenders" as lenders holding a majority interest
This definition applies "Required Lenders" to lenders holding a majority interest in the overall credit facility.
"Required Lenders" refers to lenders holding a majority interest in the total obligations, whose consent is necessary for decisions such as waivers or amendments to this Agreement.
Definition of "Required Lenders" as lenders who are part of a specified group
This definition ties "Required Lenders" to a specified subgroup of lenders.
"Required Lenders" means the lenders who belong to the group of lenders specifically designated for certain decisions or approvals under this Agreement, holding the required share of commitments.
Definition of "Required Lenders" as those consenting to a modification
This definition connects "Required Lenders" to those who must approve modifications.
"Required Lenders" refers to lenders whose written consent is required for any modifications or amendments to the terms of this Agreement, representing at least [X]% of the total obligations.
Definition of "Required Lenders" as lenders holding long-term obligations
This definition ties "Required Lenders" to lenders holding long-term commitments under the agreement.
"Required Lenders" means lenders holding at least [X]% of the long-term commitments or obligations under this Agreement, whose consent is required for certain actions.
Definition of "Required Lenders" as lenders representing multiple facilities
This definition connects "Required Lenders" to lenders involved across multiple credit facilities.
"Required Lenders" refers to lenders whose aggregate commitments span across multiple credit facilities, representing at least [X]% of the total commitments.
Definition of "Required Lenders" as those controlling collateral
This definition links "Required Lenders" to lenders with control over collateral used to secure the loan.
"Required Lenders" means lenders holding the majority of the collateral value under this Agreement, whose consent is necessary for modifications or waivers.
Definition of "Required Lenders" as lenders required for enforcement actions
This definition applies "Required Lenders" to those whose consent is needed to initiate enforcement actions.
"Required Lenders" refers to lenders representing at least [X]% of the commitments who must approve any enforcement actions under the terms of this Agreement.
Definition of "Required Lenders" as determined by voting power and influence
This definition ties "Required Lenders" to voting influence within the syndicate.
"Required Lenders" means lenders holding at least [X]% of the voting power, whose collective decision is binding on all lenders under this Agreement.
Definition of "Required Lenders" as lenders responsible for funding conditions
This definition connects "Required Lenders" to those overseeing funding conditions in the agreement.
"Required Lenders" refers to lenders whose commitments satisfy the conditions for funding at least [X]% of the facility, and who must approve any changes to these terms.
Definition of "Required Lenders" as lenders obligated under special provisions
This definition links "Required Lenders" to obligations under specific provisions of the loan.
"Required Lenders" means lenders holding obligations under special provisions of this Agreement, whose consent is needed for amendments affecting these provisions.
Definition of "Required Lenders" as lenders with discretion over restructuring
This definition applies "Required Lenders" to those with discretion over restructuring terms.
"Required Lenders" refers to lenders whose approval is mandatory for any restructuring of the obligations or terms under this Agreement, representing at least [X]% of the commitments.
Definition of "Required Lenders" as lenders with unique voting thresholds
This definition ties "Required Lenders" to unique thresholds for approving specific decisions.
"Required Lenders" means lenders meeting the voting thresholds outlined in Section [X], representing at least [X]% of total obligations.
Definition of "Required Lenders" as lenders with a stake in default conditions
This definition connects "Required Lenders" to their stake in the event of default or similar conditions.
"Required Lenders" refers to lenders representing a majority of the obligations affected by default conditions, whose consent is required for resolutions or amendments.
Definition of "Required Lenders" as lenders with rights to approve amendments
This definition ties "Required Lenders" to those with specific rights to approve amendments to the agreement.
"Required Lenders" means lenders holding at least [X]% of the outstanding obligations, whose approval is necessary for any amendments to this Agreement.
Definition of "Required Lenders" as lenders involved in a specified action
This definition connects "Required Lenders" to those involved in a particular action, such as an extension of the credit term.
"Required Lenders" refers to lenders whose consent is required for actions specified in Section [X], such as the extension of the credit term.
Definition of "Required Lenders" as lenders with a controlling interest
This definition links "Required Lenders" to those with a controlling interest in the overall facility.
"Required Lenders" means lenders holding a controlling interest, defined as at least [X]% of the total credit commitments, whose approval is required for material decisions.
Definition of "Required Lenders" as lenders in a syndicate with significant influence
This definition applies "Required Lenders" to those in a syndicate with significant influence.
"Required Lenders" refers to lenders whose aggregate commitments represent a significant influence over the terms of the loan, requiring their approval for major amendments or actions.
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