Sublimit Clause Samples
A sublimit is a provision within an insurance policy that sets a maximum payout for specific types of losses or categories of coverage, which is lower than the overall policy limit. For example, while a policy may have a total coverage limit of $1 million, a sublimit might restrict coverage for jewelry theft to $10,000. This clause ensures that the insurer's exposure to certain high-risk or high-frequency claims is controlled, thereby managing risk and clarifying the extent of coverage for particular items or events.
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Sublimit. The applicable amount, if any, stated in Item 7. on the Declarations page for each Insuring Agreement within each Coverage Section.
Sublimit. The outstanding amount of all Swing A Loans at any time shall not exceed the Swing Line A Sublimit at such time. For greater certainty and notwithstanding any other provision of this Agreement, the Swingline Lender shall not be obligated to make a Swing A Loan available to the extent that on any relevant Drawndown Date, after giving effect to any Swing A Loan requested or deemed requested: (i) the Canadian Dollar Amount of the aggregate principal amount of all then outstanding Swing A Loans and the Canadian Dollar Amount of the aggregate principal amount of such Lender's Rateable Portion of all Advances under Facility A would exceed its Facility A commitment at such time; or (ii) the Canadian Dollar Amount of the aggregate principal amount of all Advances under Facility A would exceed the aggregate Facility A Commitment at such time.
Sublimit. Section 2.01(a) of the Credit Agreement is hereby amended by (i) deleting the "or" appearing after clause (ii) thereof, (ii) replacing the semicolon appearing at the end of clause (iii) thereof with a comma, (iii) adding a new clause (iv) thereto to read as follows: "
Sublimit. Attached is a revised Schedule 1.2 to the Amended and Restated Credit Agreement which includes the Sublimit of the Company.
Sublimit. The Credit Agreement is hereby further amended by deleting the parenthetical "(with the Sublimit for letters of credit)" that appears in the last sentence of the preamble and substituting in lieu thereof the following parenthetical: "(with unlimited availability for letters of credit)".
Sublimit. No Letters of Credit shall be issued unless, on the date of the proposed issuance of any Letter of Credit, the Advances available to Borrower under the Revolving Facility are equal to one hundred percent (100%) of the face amount of such Letters of Credit. Except in Bank's discretion, the aggregate amount of all Letter of Credit Obligations shall not at any time exceed One Million and 00/100 Dollars ($1,000,000.00).
Sublimit. The Administrative Agent shall promptly notify the Borrower and the Lenders of the final allocation of such increase and the Increase Effective Date.
Sublimit. Subject to Bank's sole discretion and solely so long as neither the Plan B-1 Provisions nor the Plan B-2 Provisions are in effect, Borrower may borrow an Advance or Advances of up to an aggregate amount not to exceed $6,000,000 over the Credit Limit (collectively, the "Permitted Overadvances"). Borrower shall repay the outstanding amount of any Permitted Overadvance within 45 days after such Permitted Overadvance is made. If any Overadvances exceed $6,000,000, Borrower shall immediately pay Bank the excess. Notwithstanding anything in this section to the contrary, if a Permitted Overadvance is outstanding, Bank may demand that Borrower either (a) pay the amount of the Overadvance to Bank, or (b) permit Bank to restrict the use by Borrower of cash or securities on deposit with Bank in an amount equal to the Overadvance, which cash or securities shall be held as Collateral for all purposes of this Agreement, and Borrower shall take such action upon demand of Bank.