Permitted Initial Revolving Credit Borrowing Purposes means (i) any working capital, capital expenditure or general corporate purposes (including acquisitions, investments, restricted payments, and other transactions not prohibited by the this Agreement), and (ii) the issuance or deemed issuance of Letters of Credit in replacement of, or as a backstop for, letters of credit of the Borrower or its Subsidiaries outstanding on the Closing Date.
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Credit Loans equal to the sum of (a) an amount sufficient to fund any OID or upfront fees required to be funded pursuant to the “flex provisions” of the Fee Letter on the Closing Date plus (b) an amount sufficient to fund any ordinary course working capital requirements of the Borrower and its Subsidiaries (including the Target, Amplify and their respective Subsidiaries) on the Closing Date plus (c) an amount sufficient to cash collateralize letters of credit outstanding immediately prior to the Closing Date under the Existing Credit Facility plus (d) an amount not to exceed $5,000,000 to pay the Merger Consideration, the Existing Debt Refinancing and/or the Transaction Expenses (including any OID or upfront fees).
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Credit Loans equal to the sum of (a) an amount sufficient to fund certain closing payments, OID or upfront fees required to be funded plus (b) an amount sufficient to fund any ordinary course working capital requirements of the Borrower and its Subsidiaries on the Closing Date plus (c) an amount sufficient to cash collateralize letters of credit outstanding immediately prior to the Closing Date under the Existing Credit Facility plus (d) an amount not to exceed $20,000,000 to pay the Merger Consideration, the Existing Debt Refinancing and/or the Transaction Expenses.
Examples of Permitted Initial Revolving Credit Borrowing Purposes in a sentence
Use the proceeds of any Borrowing on the Closing Date, whether directly or indirectly, in a manner consistent with the definition of Permitted Initial Revolving Credit Borrowing Purposes, and after the Closing Date, use the proceeds of any Borrowing for any purpose not otherwise prohibited under this Agreement.
More Definitions of Permitted Initial Revolving Credit Borrowing Purposes
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Credit Loans on the Closing Date (i) in an aggregate amount not to exceed $20,000,000, to finance the Transactions (including the payment of any Transaction Expenses), (ii) for working capital needs, (iii) to finance upfront fees (including, for the avoidance of doubt, ticking fees) and OID payable in respect of the Revolving Credit Agreements, the First Lien Loans or the Second Lien Notes, and (iv) to cash collateralize existing letters of credit, guarantees and similar bonds outstanding on the Closing Date.
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Loans equal to the sum of (a) an amount in order to fund any working capital requirements of Holdings, the Borrower and their respective Subsidiaries (including Merger Sub and its respective Subsidiaries) on the Effective Date, (b) an amount not to exceed $5,000,000 to pay the Merger Consideration, the Effective Date Refinancing and/or the Transaction Costs plus (c) an amount sufficient to cash collateralize letters of credit outstanding immediately prior to the Effective Date under the Existing Credit Facility.
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Loans equal to the sum of (a) an amount in order to fund any working capital requirements of Holdings, the Borrower and their respective Subsidiaries (including Merger Sub and its respective Subsidiaries) on the Effective Date, (b) an amount not to exceed $5,000,000 to pay the Merger Consideration, the Effective Date Refinancing and/or the Transaction Costs plus (c) an amount sufficient to cash collateralize letters of credit outstanding immediately prior to the Effective Date under the Existing Credit Facility. “Permitted Junior Priority Refinancing Debt” means any secured Indebtedness incurred by the Borrower or any other Loan Party in the form of one or more series of junior lien secured notes, bonds or debentures or junior lien secured loans; provided that (i) such Indebtedness is secured by Liens on the Collateral that rank (or are intended to) rank junior to the Liens on the Collateral securing the Secured Obligations, (ii) such Indebtedness constitutes Credit Agreement Refinancing Indebtedness and (iii) a Senior Representative acting on behalf of the holders of such Indebtedness shall have become party to the relevant Intercreditor Agreements. Permitted Junior Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor. “Permitted Receivables Financing” means a securitization or other similar financing (including any factoring program) of Permitted Receivables Financing Assets that is non-recourse to Holdings, the Borrower and the Restricted Subsidiaries other than a Receivables Subsidiary (except for customary representations, warranties, covenants and indemnities and other customary forms of support, in each case made in connection with such facilities), all sales or contribution of Permitted Receivables Financing Assets and related assets by the Borrower or any Restricted Subsidiary to the Receivables Subsidiary or any other Person are made at fair market value (as determined in good faith by the Borrower), and the financing terms, covenants, termination events and other provisions of which are on market terms (as determined in good faith by the Borrower) but may include Standard Securitization Undertakings, providing for the sale, conveyance, or contribution to capital of Permitted Receivables Financing Assets by Participating Receivables Grantors in transactions purporting to be sales of Permitted Receivables Financing Assets to either (a) a Person that is not Hold...
Permitted Initial Revolving Credit Borrowing Purposes means (a) one or more Borrowings of Revolving Credit Loans that do not, in the aggregate, exceed $10,000,000 to finance (i) the Transactions and (ii) fees and expenses related to the Transactions (including OID and upfront fees, but excluding OID and upfront fees contemplated by clause (c) below), (b) one or more Borrowings of Revolving Credit Loans to fund working capital adjustments under the Merger Agreement and (c) one or more Borrowings of Revolving Credit Loans to fund any or all OID or upfront fees resulting from the exercise of “Market Flex” by the Arrangers as set forth in the Fee Letter.
Permitted Initial Revolving Credit Borrowing Purposes means (a) one or more Borrowings of Revolving Credit Loans that, do not in the aggregate, exceed $50,000,000 (i) to finance the Transactions and fees and expenses related to the Transactions and (ii) for working capital needs and (b) one or more Borrowings of Revolving Credit Loans to fund any or all OID or upfront fees in connection with this Agreement or in connection with the issuance of the Senior Notes, or any other securities (other than 2020 Notes) on the Closing Date.
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Credit Loans to fund a portion of the purchase price of the Acquisition, to finance working capital, including in respect of working capital adjustments or purchases of working capital under the Acquisition Agreement, and for other general corporate purposes not prohibited by the Loan Documents, in an aggregate amount not to exceed$1,000,000.
Permitted Initial Revolving Credit Borrowing Purposes means one or more Borrowings of Revolving Credit Loans to fund a portion of the purchase price of the Acquisition, to finance working capital, including in respect of working capital adjustments or purchases of working capital under the Acquisition Agreement, and for other general corporate purposes not prohibited by the Loan Documents, in an aggregate amount not to exceed $1,000,000. “Permitted IPO Reorganization” means any transactions or actions taken in connection with consummating an initial public offering of the Lead Borrower or any direct or indirect parent thereof, so long as, after giving effect thereto, neither the value of the security interest of the Collateral Agent and the Lenders in the Collateral, taken as a whole (including as to the perfection and priority thereof), nor the value of the Guaranty, taken as a whole, is materially impaired. “Permitted Junior Priority Refinancing Debt” means secured Indebtedness (including any Registered Equivalent Notes) incurred by the Borrowers or any other Loan Party in the form of one or more series of second lien (or other junior lien) secured notes or second lien (or other junior lien) secured loans; provided that (i) such Indebtedness is secured only by all or a portion of the Collateral on a second priority (or other junior priority) basis to the Liens securing the Obligations and the obligations in respect of any Permitted First Priority Refinancing Debt, (ii) such Indebtedness otherwise constitutes Credit Agreement Refinancing Indebtedness and (iii) such Indebtedness meets the Permitted Other Debt Conditions. Permitted Junior Priority Refinancing Debt will include any Registered Equivalent Notes issued in exchange therefor.