Shake Shack 2015 Annual Report Download - page 127

“ Required Lenders ”
means, at any time, Lenders having Revolving Credit Exposure and unused Commitments representing more than 50.0% of
the sum of the Aggregate Credit Exposure and unused Revolving Commitments at such time.
“ Requirement of Law ” means, as to any Person, the Certificate of Incorporation and By-
Laws or other equivalent organizational or governing
documents of such Person, and any law, treaty, rule or regulation or determination of an arbitrator or a court or other Governmental Authority, in each
case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject.
“ Restricted Payment ”
means any dividend or other distribution (whether in cash, securities or other property) with respect to any Equity
Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit,
on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any option,
warrant or other right to acquire any such Equity Interests in the Borrower.
“ Revolving Commitment ” means, with respect to each Lender, (a) prior to the Delayed Commitment Effective Date, if any, such Lender’
s Initial
Revolving Commitment then in effect and (b) on and after the Delayed Commitment Effective Date, if any, such Lender’
s Total Revolving Commitment
then in effect. The initial amount of each Lender’s applicable Revolving Commitment is set forth on the Schedule 2.01
, or in the Assignment and
Assumption pursuant to which such Lender shall have assumed its Revolving Commitment, as applicable.
“ Revolving Credit Exposure ” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’
s
Revolving Loans and its LC Exposure at such time.
“ Revolving Lender ”
means, as of any date of determination, a Lender with a Revolving Commitment or, if the Revolving Commitments have
terminated or expired, a Lender with Revolving Credit Exposure.
“ Revolving Loan ”
means, collectively, (a) the loans deemed to be extended by the Revolving Lenders to the Borrower on the Effective Date
pursuant to Section 2.01(a)(i) and (b) any loan made pursuant to Section 2.01(a)(ii).
“ S&P ” means Standard & Poor’s Ratings Services, a division of The McGraw Hill Companies, Inc.
“ Secured Obligations ”
means all Obligations, together with all (a) Banking Services Obligations and (b) Swap Obligations owing to one or more
Lenders or their respective Affiliates; provided
that at or prior to the time that any transaction relating to such Swap Obligation is executed, the Lender
party thereto (other than Chase) shall have delivered written notice to the Administrative Agent that such a transaction has been entered into and that it
constitutes a Secured Obligation entitled to the benefits of the Collateral Documents.
“ Security Agreement ”
means (a) that certain Second Amended and Restated Security Agreement, dated as of February 18, 2014, between the
Loan Parties and the Administrative Agent,
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