Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.
Revolving Facility Usage means at any time the sum of the Revolving Credit Loans outstanding and the Letters of Credit Outstanding.
Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans and the Letter of Credit Obligations (for purposes of this computation, PNC Bank’s Swing Loans shall be deemed to be borrowed amounts under its Revolving Credit Commitment). SAP means, as to any Person, the accounting practices prescribed or permitted by NAIC, if then applicable to such Person, or the Applicable Insurance Regulatory Authority of the jurisdiction of domicile of such Person for the preparation of Annual Statements, Interim Statements and other financial reports by insurance companies of the same type as such Person. Sanctioned Country shall mean a country subject to a sanctions program maintained under any Anti-Terrorism Law. Sanctioned Person shall mean any individual person, group, regime, entity or thing listed or otherwise recognized as a specially designated, prohibited, sanctioned or debarred person, group, regime, entity or thing, or subject to any limitations or prohibitions (including but not limited to the blocking of property or rejection of transactions), under any Anti-Terrorism Law. Securities Intermediary shall mean any “securities intermediary” within the meaning of Section 8.102(a)(14) of the UCC at which any securities account constituting a Collateral Account is held, which shall be (a) located in the United States of America and (b) acceptable to the Administrative Agent in its reasonable discretion. Settlement Dates shall mean any Business Day on which the Administrative Agent elects to effect settlement pursuant to Section 4.10 [Settlement Date Procedures]. Solvent shall mean, with respect to any Person on any date of determination, taking into account such right of reimbursement, contribution or similar right available to such Person from other Persons, that on such date (i) the fair value of the property of such Person is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of such Person, (ii) the present fair saleable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of such Person on its debts as they become absolute and matured, (iii) such Person is able to realize upon its assets and pay its debts and other liabilities, contingent obligations and other commitments as they mature in the normal course of business, (iv) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s abili...
Examples of Revolving Facility Usage in a sentence
If at any time the Revolving Facility Usage exceeds the Line Cap (other than as a result of a Protective Advance), including (for the avoidance of doubt) as a result of the reduction of the Maximum Revolving Advance Amount pursuant to Section 2.11, the Borrower shall (i) first, repay Revolving Advances and (ii) second, Cash Collateralize any outstanding Letters of Credit (consistent with the procedures set forth in Section 2.8(j)) to eliminate such excess.
The Revolving Facility Usage at any time shall not exceed the lesser of (a) the Maximum Revolving Advance Amount or (b) the Formula Amount.
If at any time the Revolving Facility Usage exceeds the Line Cap (other than as a result of a Protective Advance), the Borrower shall (i) first, repay Revolving Advances and (ii) second, Cash Collateralize any outstanding Letters of Credit (consistent with the procedures set forth in Section 2.8(j)) to eliminate such excess.
More Definitions of Revolving Facility Usage
Revolving Facility Usage means, as of any date of determination, the aggregate amount of Advances and undrawn or unreimbursed Letters of Credit outstanding.
Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swingline Loans, and the Letter of Credit Obligations.
Revolving Facility Usage means at any time the sum of the Revolving Credit Loans outstanding, the Swing Loans outstanding and the Letters of Credit Outstanding. SEC shall mean the Securities and Exchange Commission or any governmental agencies substituted therefor.
Revolving Facility Usage means, as of any date of determination, the aggregate amount of Advances (including Agent Advances and Agent Loans) and undrawn or unreimbursed (by Borrower) Letters of Credit outstanding.
Revolving Facility Usage means at any time the sum of the outstanding Revolving Advances and the Letter of Credit Obligations.
Revolving Facility Usage means, at the time in question, without duplication, the aggregate principal amount of outstanding Revolving Loans and LC Obligations at such time.
Revolving Facility Usage means at any time the sum of the Dollar Equivalent Amount of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.