Borrowing Limits Sample Clauses
The Borrowing Limits clause sets a maximum amount that a borrower is permitted to owe under a loan or credit agreement. Typically, this clause specifies a fixed dollar amount or a formula for calculating the limit, and may outline procedures for requesting increases or consequences for exceeding the cap. Its core function is to control the lender’s risk exposure and ensure the borrower does not take on more debt than the lender is willing to support.
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Borrowing Limits. The aggregate outstanding amount of all Advances shall not exceed eighty-five percent (85%) of the aggregate total discounted present value of the Collateral (defined below) subject to the lien of one or more Mortgages, after deducting any allocable amount securing any outstanding Senior Debt (defined below) (the “Loan-to-Value Ratio”), which value shall be determined by one or more reserve studies obtained from time to time (each a “Reserve Study” and collectively, the “Reserve Studies”) as reported on an annual basis by the Borrower to the Lender. For purposes of this Section, a Reserve Study shall be determined by an independent, qualified third party, as selected and/or approved by the Lender in its sole discretion. Once approved by the Lender, the Reserve Study determined shall be conclusive and, until an updated Reserve Study is obtained, shall be the basis for calculating the Loan-to-Value Ratio. In the event the aggregate outstanding Advances exceed the Loan-to-Value Ratio, such event shall not be deemed and Event of Default; and the Borrower shall cure such deficiency by either pledging additional Collateral or repaying a portion of the Loan until the Loan-to-Value Ratio is met.
Borrowing Limits. Borrowings under this Agreement up to and including the maximum amount available under this Agreement will not when borrowed cause any limit on borrowings or, as the case may be, on the giving of guarantees (whether imposed by statute, regulation, agreement or otherwise), or on the powers of its board of directors, applicable to it to be exceeded.
Borrowing Limits. After the making of the Loans on any Borrowing Date, the aggregate principal amount of all Loans outstanding shall not exceed the Commitments, the aggregate principal amount of all General Corporate Loans outstanding shall not exceed 25% of the Commitments and the aggregate principal amount of all Loans outstanding denominated in GBP shall not exceed the Equivalent Amount of $100,000,000 (as determined in accordance with Section 1.3(b)) and Agent and Administrative Agent shall have received a certificate dated as of a date not more than five (5) Business Days prior to the relevant Borrowing Date to such effect.
Borrowing Limits. 3.2.1 The amounts borrowed by the Company under overdraft facilities do not exceed applicable overdraft limits.
3.2.2 The amounts borrowed by the Company do not exceed any limitation on its borrowings contained in its constitutional documents or in any agreement or instrument binding upon it.
Borrowing Limits. These limits are (1) l0% for net asset value when borrowing for any general purpose; and (2) 25% of net asset value when borrowing as a temporary measure to facilitate redemptions. Net asset value of a portfolio is the market value of all investments or assets owned less outstanding liabilities of the portfolio at the time that any new or additional borrowing is undertaken. These guidelines are that:
Borrowing Limits. A certificate of Borrower confirming that borrowing or guaranteeing or securing, as appropriate, the Term Loan Commitment would not cause any borrowing, guarantee, security or similar limit binding on any Loan Party to be exceeded.
Borrowing Limits. The Borrower shall not engage in additional borrowing or financial activities beyond the specified limits, if any, as specified in the Confirmation.
Borrowing Limits. The borrowing of Advances under this Agreement up to and including the maximum amount available to it under this Agreement will not, when borrowed, cause any limit on borrowings or, as the case may be, on the giving of guarantees (whether imposed by statute, regulation or agreement) or on the powers of its board of directors, applicable to it, to be exceeded.
Borrowing Limits. After giving effect to any Borrowing or the issuance, amendment, renewal or extension of any Letter of Credit, Aggregate Availability shall not be less than zero and the Credit Parties shall be in compliance with the Borrowing Limits.
Borrowing Limits. 11 SECTION 2.03. Interest, Fees and Charges.......................................... 11 SECTION 2.04. Payment of the Working Capital Line of Credit.............................................................. 12 SECTION 2.05. Working Capital Note................................................ 13 SECTION 2.06. Termination of the Working Capital Line of Credit........................................................... 13 SECTION 2.07. Use and Disbursement of Proceeds.................................... 13 SECTION 2.08. Prepayments......................................................... 14 ARTICLE III THE ACQUISITION FACILITY SECTION 3.01. The Acquisition Facility............................................ 14 SECTION 3.02. Borrowing Conditions and Limits..................................... 14 SECTION 3.03. Interest............................................................ 16 SECTION 3.04. Repayment of the Acquisition Facility............................... 17 SECTION 3.05. Use of Proceeds of the Acquisition Facility............................................................ 17 SECTION 3.06. Termination of the Acquisition Facility............................. 17 SECTION 3.07. Prepayments......................................................... 18 SECTION 3.08. Unused Facility Fee................................................. 18 ARTICLE IV COLLATERAL