CBL » Topics » Requisite Lenders

This excerpt taken from the CBL 8-K filed Nov 5, 2009.
Requisite Lenders" means, as of any date, Lenders having at least sixty-one percent (61%) of the aggregate amount of the Revolving Commitments, or, if the Revolving Commitments have been terminated or reduced to zero, Lenders holding at least sixty-one percent (61%) of the aggregate principal amount of the outstanding Revolving Loans; provided that (i) in determining such percentage at any given time, all then existing Defaulting Lenders and all then existing Insolvent Lenders will be disregarded and excluded, and the Pro Rata Shares shall be redetermined, for voting purposes only, to exclude the Pro Rata Shares of such Defaulting Lenders and Insolvent Lenders, (ii) at all times when two or more Lenders are party to this Agreement, the term "Requisite Lenders" shall in no event mean less than two Lenders; and (iii) in the case of any amendment to Section 10.1, or to any defined term where such amendment could affect compliance with Section 10.1, Requisite Lenders must include Administrative Agent (so long as Administrative Agent's Pro Rata Share is then equal to or greater than ten percent (10%) and Administrative Agent is not then a Defaulting Lender).

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This excerpt taken from the CBL 8-K filed Sep 30, 2009.
Requisite Lenders" means, as of any date, Lenders having at least sixty-one percent (61%) of the aggregate amount of the Revolving Commitments, or, if the Revolving Commitments have been terminated or reduced to zero, Lenders holding at least sixty-one percent (61%) of the aggregate principal amount of the outstanding Revolving Loans and Letter of Credit Liabilities; provided that (i) in determining such percentage at any given time, all then existing Defaulting Lenders and all then existing Insolvent Lenders will be disregarded and excluded, and the Pro Rata Shares shall be redetermined, for voting purposes only, to exclude the Pro Rata Shares of such Defaulting Lenders and Insolvent Lenders, (ii) at all times when two or more Lenders are party to this Agreement, the term "Requisite Lenders" shall in no event mean less than two Lenders; and (iii) in the case of any amendment to Section 10.1, or to any defined term where such amendment could affect compliance with Section 10.1, Requisite Lenders must include Administrative Agent (so long as Administrative Agent's Pro Rata Share is then equal to or greater than ten percent (10%) and Administrative Agent is not then a Defaulting Lender).

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These excerpts taken from the CBL 10-K filed Feb 29, 2008.
Requisite Lenders. The definition of Requisite Lenders contained in Section 1.1 of the Credit Agreement is hereby amended by inserting the following as the second sentence thereof:

“In determining such percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Commitment

 

 

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Percentage of Lenders shall be redetermined, for voting purposes only, to exclude the Commitment Percentage of such Defaulting Lenders.”

9.         

Requisite Lenders. The definition of Requisite Lenders contained in Section 1.1 of the Credit Agreement is hereby amended by inserting the following as the second sentence thereof:

“In determining such percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Commitment Percentage of Lenders shall be redetermined, for voting purposes only, to exclude the Commitment Percentage of such Defaulting Lenders.”

9.         

Requisite Lenders” means, as of any date, Lenders having at least 51% of the principal amount of the Advances; provided however, at any time that there are two (2) or more Lenders (excluding Defaulting Lenders) Requisite Lenders must always include at least two (2) Lenders; provided further, in the case of any amendment to Section 9.1, or to any defined term where such amendment could affect compliance with Section 9.1, Requisite Lenders must include Agent. In determining such percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Pro Rata Shares of the Loan of Lenders shall be redetermined, for voting purposes only, to exclude the Pro Rata Shares of the Loan of such Defaulting Lenders.

Requisite Lenders” means, as of any date, Lenders having at least 51% of the principal amount of the Advances; provided however, at any time that there are two (2) or more Lenders (excluding Defaulting Lenders) Requisite Lenders must always include at least two (2) Lenders; provided further, in the case of any amendment to Section 9.1, or to any defined term where such amendment could affect compliance with Section 9.1, Requisite Lenders must include Agent. In determining such percentage at any given time, all then existing Defaulting Lenders will be disregarded and excluded and the Pro Rata Shares of the Loan of Lenders shall be redetermined, for voting purposes only, to exclude the Pro Rata Shares of the Loan of such Defaulting Lenders.



This excerpt taken from the CBL 8-K filed Sep 1, 2006.
Requisite Lenders’ means, as of any date, Lenders having at least 51% of the aggregate amount of the Commitments, or, if the Commitments have been terminated or reduced to zero, such Lenders holding at least 51% of the principal amount of the Advances and Letter of Credit Liabilities; provided however, Requisite Lenders must always include at least two (2) Lenders; provided further, in the case of any amendment to Section 10.1, or to any defined term where such amendment could affect compliance with Section 10.1, Requisite Lenders must include Agent.”

 

10.          

This excerpt taken from the CBL 8-K filed Aug 25, 2006.
Requisite Lenders” means, as of any date, Lenders having at least 51% of the aggregate amount of the Commitments, or, if the Commitments have been terminated or reduced to zero, such Lenders holding at least 51% of the principal amount of the Advances and Letter of Credit Liabilities; provided however, Requisite Lenders must always include at least two (2) Lenders; provided further, in the case of any amendment to Section 9.1, or to any defined term where such amendment could affect compliance with Section 9.1, Requisite Lenders must include Agent.

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