requisite lenders

requisite lenders
USA
Typically defined in a loan agreement to mean, as of any date, the lenders holding greater than 66 2/3% of the sum of unused commitments and outstanding loans under the loan agreement. Requisite lender approval is required for certain amendments and waivers to the loan agreement. Amendments requiring required lender approval require a lower percentage of lender approval, typically 50% of the sum of unused commitments and outstanding loans.
For further information, see Practice Note, Loan Agreement: Amendments (www.practicallaw.com/5-382-7142).
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • requisite class lenders — USA Typically defined in a loan agreement to mean, as of any date, the required lenders within a class of loan under a loan agreement (for example, 50% of term lenders or 50% of revolving commitment lenders). Requisite class lender approval may… …   Law dictionary

  • requisite lender — USA Typically defined in a loan agreement to mean, as of any date, the lenders holding greater than 66 2/3% of the sum of unused commitments and outstanding loans under the loan agreement. Requisite lender approval is required for certain… …   Law dictionary

  • required lenders — USA required lenders, Also known as majority lender. Typically defined in a loan agreement to mean, as of any date, the lenders holding greater than 50% of the sum of unused commitments and outstanding loans under the loan agreement. Required… …   Law dictionary

  • majority lenders — USA required lenders, Also known as majority lender. Typically defined in a loan agreement to mean, as of any date, the lenders holding greater than 50% of the sum of unused commitments and outstanding loans under the loan agreement. Required… …   Law dictionary

  • supermajority voting — USA This term has a number of meanings. In the context of: • Finance, it is also known as requisite lender voting. A requirement for the affirmative vote of lenders holding more than a majority (usually 66 2/3%) of the amount of unused… …   Law dictionary

  • required lender — USA required lenders, Also known as majority lender. Typically defined in a loan agreement to mean, as of any date, the lenders holding greater than 50% of the sum of unused commitments and outstanding loans under the loan agreement. Required… …   Law dictionary

  • majority lender — USA required lenders, Also known as majority lender. Typically defined in a loan agreement to mean, as of any date, the lenders holding greater than 50% of the sum of unused commitments and outstanding loans under the loan agreement. Required… …   Law dictionary

  • List of Statutory Instruments of the United Kingdom, 1993 — This is a complete list of all 1844 Statutory Instruments published in the United Kingdom in the year 1993. NOTOC 1 100* Environmental Protection (Controls on Injurious Substances) Regulations 1993 S.I. 1993/1 * Rail Crossing Extinguishment and… …   Wikipedia

  • Real estate broker — This article is about the North American practice. For other definitions and practices in other countries, see Real estate. For real property, see Real property. Realtor redirects here. For the real estate industry trade association that refers… …   Wikipedia

  • List of Statutory Instruments of the United Kingdom, 1987 — This is a complete list of all 1468 Statutory Instruments published in the United Kingdom in the year 1987. NOTOC 1 100* Parish and Community Meetings (Polls) Rules 1987 S.I. 1987/1 * National Health Service (Food Premises) (Scotland) Regulations …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”