Bank Product Debt definition

Bank Product Debt means the Indebtedness and other obligations of any Credit Party or Subsidiary relating to Bank Products.

Bank Product Debt. Debt and other obligations of an Obligor relating to Bank Products.

Bank Product Debt means Indebtedness and other Obligations relating to or arising from Bank Products, including Bank Product Obligations (as defined in the ABL Credit Agreement).

Examples of Bank Product Debt in a sentence

• This Agreement shall remain in effect from the Closing Date through and including the date upon which all Obligations (except for Hedging Obligations and Bank Product Debt not then due and payable and contingent indemnification obligations not yet due for which no claim has been asserted) arising hereunder or under any other Loan Document shall have been indefeasibly and irrevocably paid in full and all Commitments have been terminated.

• The Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Obligations arising under Bank Product Debt in the case of a Facility Termination Date.

• After all such Letters of Credit shall have expired or been fully drawn upon, the Reimbursement Obligations shall have been satisfied and all other Obligations (other than contingent indemnification obligations not yet due for which no claim has been asserted and Bank Product Debt) shall have been paid in full, the balance, if any, in such cash collateral account shall be returned to the Company.

More Definitions of Bank Product Debt

Bank Product Debt means Debt and other obligations of a Loan Party relating to Bank Products.

Bank Product Debt has the meaning assigned thereto in the Revolver Loan Agreement on the Closing Date. Bankruptcy Code: Title 11 of the United States Code. Base Rate: on any day, the greater of (i) the rate of interest publicly announced by the Reference Bank in New York, New York from time to time as its reference rate, base commercial lending rate or prime rate and (ii) 3.50% per annum. The reference rate, base commercial lending rate or prime rate is determined from time to time by the Reference Bank as a means of pricing some loans to its borrowers and neither is tied to any external rate of interest or index nor necessarily reflects the lowest rate of interest actually charged by the Reference Bank to any particular class or category of customers. Each change in the Reference Rate shall be effective from and including the date such change is publicly announced as being effective.

Bank Product Debt of any Person means any obligation of such Person pursuant to any Bank Products Agreement.

Bank Product Debt. Debt and other obligations of an Obligor relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Secured Bank Product Obligations. Bankruptcy Code: Title 11 of the United States Code. Base Rate: for any day, a per annum rate equal to the greater of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; or (c) LIBOR for a 30 day interest period as determined on such day, plus 1.0%.

Bank Product Debt means Indebtedness and other obligations of a Loan Party relating to Bank Products. The amount of the Bank Product Debt may be changed from time to time upon written notice to the Administrative Agent by the Secured Party and the Loan Party; provided that any portion of Bank Product Debt that is secured may not be voluntarily increased at any time that any Default or Event of Default exists.

Bank Product Debt. Indebtedness and other obligations of a Loan Party or any of their respective Restricted Subsidiaries relating to Bank Products.

Bank Product Debt means (a) all Indebtedness and other obligations, liabilities, reimbursement obligations, fees, or expenses owing by each Loan Party and its Subsidiaries to any Secured Bank Product Provider pursuant to or evidenced by a Bank Product Agreement and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, and (b) all amounts that any Agent, any Lender or any Issuing Bank is obligated to pay to a Secured Bank Product Provider as a result of such Agent, such Lender or such Issuing Bank purchasing participations from, or executing guarantees or indemnities or reimbursement obligations to, a Secured Bank Product Provider with respect to the Bank Products provided by such Secured Bank Product Provider to a Loan Party or its Subsidiaries.