ABL Loan Cap definition

ABL Loan Cap means the “Loan Cap” as defined under the ABL Credit Agreement.
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ABL Loan Cap means the “Loan Cap” as such term is defined in the ABL Credit Agreement (but, as such term is used in the Loan Documents, calculated without giving effect to the Term Pushdown Reserve).
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ABL Loan Cap means, at any time, an amount equal to the lesser of (a) the Total ABL Commitments and (b) the ABL Borrowing Base Amount.
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Examples of ABL Loan Cap in a sentence

  • No later than at the end of each Business Day, but solely to the extent at such time the Excess Availability is less than 15% of the DIP ABL Loan Cap, each Controlled Deposit Account shall be swept into, and all amounts contained in such accounts shall be credited to, the Cash Collateral Account.

  • Subject to the terms and conditions set forth herein, each DIP ABL Lender agrees to make loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such DIP ABL Lender’s DIP ABL Credit Exposure exceeding such DIP ABL Lender’s DIP ABL Revolving Commitment or (ii) the DIP ABL Credit Exposure exceeding the DIP ABL Loan Cap.

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 or (b) ten percent (10%) of the sum of (i) the ABL Loan Cap plus (ii) the lesser of (A) the Facilities and (B) the Term Loan Borrowing Base.

  • Prior to the later of (a) March 31, 2021 or (b) the date that Average Daily Excess Availability (as defined in the ABL Credit Agreement) has been equal to at least 25% of the ABL Loan Cap (without giving effect to the Term Loan Reserve) for a period of at least thirty (30) consecutive calendar days, the Borrowers shall not terminate the engagement of the Financial Advisor unless a replacement Financial Advisor has been expressly approved by the Agent in writing in its discretion.


More Definitions of ABL Loan Cap

ABL Loan Cap means, at any time of determination, the lesser of (a) the Aggregate ABL Commitments or (b) the ABL Borrowing Base. “ABL Note” means a promissory note made by the Borrowers in favor of an ABL Lender evidencing ABL Loans made by such ABL Lender, substantially in the form of Exhibit C-1, as each may be amended, supplemented or modified from time to time. “Acceptable Document of Title” means, with respect to any Inventory, except as Agent may otherwise agree (or to the extent otherwise provided in the definition of the term Eligible In-Transit Inventory), a tangible, negotiable xxxx of lading or other Document (as defined in the UCC) that (a) is issued by a common carrier which is not an Affiliate of the Approved Foreign Vendor or any Loan Party which is in actual possession of such Inventory, (b) is issued to the order of a Loan Party or, if so requested by the Agent, to the order of the Agent, (c) names the Agent as a notify party and bears a conspicuous notation on its face of the Agent’s security interest therein, (d) is not subject to any Lien (other than in favor of the Agent), and (e) is on terms otherwise reasonably acceptable to the Agent. “ACH” means automated clearing house transfers. “Acceptable Appraisal” means, with respect to an appraisal of Real Estate, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent and the Lenders and (c) complying with the requirements of FIRREA. “Accommodation Payment” as defined in Section 10.22(d). “Account” means “accounts” as defined in the UCC, and also means a right to payment of a monetary obligation, whether or not earned by performance, (a) for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, (b) for services rendered or to be rendered, (c) for a policy of insurance issued or to be issued, (d) for a secondary obligation incurred or to be incurred, (e) for energy provided or to be provided, (f) for the use or hire of a vessel under a charter or other contract, (g) arising out of the use of a credit or charge card or information contained on or for use with the card, or (h) as winnings in a lottery or other game of chance operated or sponsored by a state, - 2- 6245414.1
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ABL Loan Cap means “Loan Cap”, as defined in the ABL Credit Agreement.
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ABL Loan Cap means, at any time, the lesser of (x) the ABL Commitment Amount, and (y) the Borrowing Base.
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Related to ABL Loan Cap

  • Loan Cap means, at any time of determination, the lesser of (a) the Aggregate Commitments or (b) the Borrowing Base.

  • ABL Loans means the “Loans” as defined in the ABL Credit Agreement.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • ABL Lender means any lender or holder or agent or arranger of Indebtedness under the ABL Credit Agreement.

  • Term Loan B has the meaning set forth in Section 2.2(b).

  • ABL Loan Documents means the “Loan Documents” as defined in the ABL Credit Agreement.

  • ABL Lenders means the “Lenders” under and as defined in the ABL Credit Agreement.

  • Term Loan Credit Agreement has the meaning set forth in the recitals to this Agreement.

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property. Fitch: Fitch, Inc., or its successor in interest.

  • ABL Credit Facility means the senior secured asset-based revolving loan facility and the term loan facilities made pursuant to the ABL Credit Agreement.

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Second Lien Term Loans means the “Term Loans” under and as defined in the Second Lien Credit Agreement.

  • First Lien Last Out Loan means a loan that, prior to an event of default under the applicable Related Contract, is entitled to receive payments pari passu with other senior secured loans of the same Obligor, but following an event of default under the applicable Related Contract, such Collateral Loan becomes fully subordinated to other senior secured loans of the same Obligor and is not entitled to any payments until such other senior secured loans are paid in full.

  • Term Loan Agent means “Term Loan Agent” as defined in the Intercreditor Agreement.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • ABL Credit Agreement as defined in the recitals hereto.

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.