Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
11:34 Nov 23, 2013
English to Portuguese translations [PRO] Law/Patents - Law: Contract(s)
English term or phrase:Requisite Lender(s)
"that the Agent has authority to execute on its behalf any amendment or waiver that has been approved by or on behalf of the *requisite Lender or Lenders* in accordance with this Agreement"
Resource type: Glossary item Status: Maintained Jurisdiction: 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.