Examples of Outstanding Amount in a sentence
If, after giving effect to such Loan or Letter of Credit, the Borrowing Base Availability is less than the Outstanding Amount, Borrower shall, on such date, reduce the Outstanding Amount by an amount at least equal to such deficiency.
The Borrower shall have the right, upon not less than three (3) Business Days’ notice to the Administrative Agent, to terminate the Commitments or, from time to time, to reduce the amount of the Commitments; provided that no such termination or reduction of Commitments shall be permitted if, after giving effect thereto and to any prepayments of the Loans made on the effective date thereof, the Outstanding Amount would exceed the Total Commitments (as so terminated or reduced).
Solely for purposes of calculating interest pursuant to this Section 3.1, if on any day the aggregate outstanding principal balance of the Loans is less than the Minimum Outstanding Amount on such day, then interest for such day shall be calculated and accrue as if the aggregate outstanding principal balance of the Loans on such day is equal to the Minimum Outstanding Amount with the difference being charged at the interest rate applicable to Revolving Loans.
Notwithstanding the foregoing sentence, however, Borrowers shall be required to repay the Loans if and to the extent such repayment is required under Section 2.5, even if such payment would result in the outstanding principal amount of Loans falling below the Minimum Outstanding Amount; provided that Borrowers shall re-borrow an amount sufficient to comply with this Section 2.1(c) as soon as they may do so pursuant to Section 2.1(a).
The Holders of a majority of the Outstanding Amount of the Recovery Bonds may remove the Indenture Trustee (or any other Eligible Institution in any capacity hereunder) upon not less than thirty (30) days’ prior written notice by so notifying the Indenture Trustee (or such other Eligible Institution, as applicable) and may appoint a successor Indenture Trustee (or successor Eligible Institution in the applicable capacity).