Finance Deals & Syndicated Lending · glossary
Lenders holding more than two-thirds of the Commitments, counted by money, not heads. They decide most waivers and amendments, and can direct the Agent to accelerate. Some changes, such as a lower margin, need every lender. Definition: Majority Lenders · Chapter 11
Explained in Chapter 11, The Agent and the Syndicate, of Finance Deals & Syndicated Lending.
Also explained in Derivatives.
Under clause 27.1, any term may be amended or waived with the consent of Atlas and the majority lenders. The change then binds every party, including a lender that voted against it. The majority lenders are lenders whose Commitments add up to more than two-thirds of the Total Commitments. Votes are weighed by money, not counted by heads.Read Chapter 11, The Agent and the Syndicate →
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a Lender or Lenders whose Commitments aggregate more than two-thirds of the Total Commitments (or, if the Total Commitments have been reduced to zero, aggregated more than two-thirds of the Total Commitments immediately before that reduction);Read the definition in the document →
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