Define: Required Lenders
What does "Required Lenders" mean? The meaning differs based on the contract. We found 9 definitions across 6 companies in SEC filings.
Definition 1 (Air Products & Chemicals, Inc., seen in 1 filing)
Required Lenders means at any time prior to the termination or expiration of the Commitments, Lenders which have Revolving Credit Committed Amounts constituting, in the aggregate, at least a 50.1% of the Total Revolving Credit Commitment at such time and shall mean, at any time thereafter, Lenders which have outstanding Loans (other than Swingline Loans), Swingline Exposure and LC Exposure constituting, in the aggregate, at least a majority of all Loans, Swingline Exposure and LC Exposure outstanding at such time.
Source: Air Products & Chemicals, Inc. 10-K
Definition 2 (Air Products & Chemicals, Inc., seen in 1 filing)
Required Lenders means at any time prior to the termination or expiration of the Commitments, Lenders which have Revolving Credit Committed Amounts constituting, in the aggregate, at least a 50.1% of the Total Revolving Credit Commitment at such time and shall mean, at any time thereafter, Lenders which have outstanding Loans constituting, in the aggregate, at least a majority of all Loans outstanding at such time.
Source: Air Products & Chemicals, Inc. 10-Q
Definition 3 (AMERICAN INTERNATIONAL GROUP, INC., seen in 1 filing)
Required Lenders means at any time, Lenders having Credit Exposures and unused Commitments representing more than 50% of the sum of the total Credit Exposures and unused Commitments at such time provided that the Credit Exposures and unused Commitments of any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders.
Source: AMERICAN INTERNATIONAL GROUP, INC. 10-Q
Definition 4 (DELTA AIR LINES, INC., seen in 1 filing)
Required Lenders means at any time, Lenders holding more than 50% of (a) until the funding of the Initial Term Loans, the Term Loan Commitments then in effect and (b) thereafter, the aggregate principal amount of all Term Loans outstanding. The outstanding Term Loans and Term Loan Commitments of any Defaulting Lender shall be disregarded in determining the Required Lenders at any time.
Source: DELTA AIR LINES, INC. 10-K
Definition 5 (AMAZON COM INC, seen in 1 filing)
Required Lenders means at any time, Lenders having Total Credit Exposures representing more than 50% of the Total Credit Exposures of all Lenders. The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time.
Source: AMAZON COM INC 10-Q
Definition 6 (AMAZON COM INC, seen in 1 filing)
Required Lenders means Lenders having more than 50% of the Aggregate Commitments or, if the Commitments have been terminated, Lenders holding more than 50% of the Total Outstandings.
Source: AMAZON COM INC 10-Q
Definition 7 (AMETEK INC/, seen in 1 filing)
Required Lenders means at any time, Lenders having Revolving Exposures and unused Revolving Commitments representing more than 50% of the sum of the Total Revolving Credit Exposure and unused Revolving Commitments at such time.
Source: AMETEK INC/ 10-K
Definition 8 (AMAZON COM INC, seen in 1 filing)
Required Lenders means at any time, Lenders having Total Credit Exposures representing more than 50% of the Total Credit Exposures of all Lenders; provided that the Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time.
Source: AMAZON COM INC 8-K
Definition 9 (ANALOG DEVICES INC, seen in 1 filing)
Required Lenders means at any time, Lenders having Total Credit Exposures representing more than 50% of the Total Credit Exposures of all Lenders. For purposes of this definition, Revolving Credit Exposure of the Swing Line Lender shall be deemed to exclude any amount of its Swing Line Exposure in excess of its Applicable Percentage of the aggregate principal amount of all the Swing Line Loans, and the unused Commitment of such Lender shall be determined on the basis of its Revolving Credit Exposure excluding such excess amount. The Total Credit Exposure of any Defaulting Lender shall be disregarded in determining Required Lenders at any time; provided that the amount of any participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been reallocated to another Lender shall be deemed to be held by the Lender that is the Swing Line Lender or L/C Issuer, as the case may be, in making such determination.
Source: ANALOG DEVICES INC 8-K
Data extracted from 10 SEC EDGAR filings across 6 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.