Agent Advance Period definition

Agent Advance Period shall have the meaning provided in Section 2.01(e).
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Agent Advance Period as defined in subsection 2.1(d).
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Agent Advance Period shall have the meaning given to such term in Section 2.3(c). Aggregate Supermajority Lenders shall mean those Non-Defaulting Lenders which would constitute Required Lenders under, and as defined in, this Credit Agreement if the percentage “50%” contained therein were changed to “66-2/3%”. Alternate Currency shall mean, with respect to any Letter of Credit, any currency other than Dollars as may be acceptable to the Administrative Agent and the Issuing Lender with respect thereto in their sole discretion. Applicable Equity Recapture Percentage shall mean, at any time, (x) in the case of the Holdings IPO, 0%, (y) in the case of any other Public Equity Offering by Holdings, 50%, provided that if at any time the Consolidated Leverage Ratio (as established on the last day of the respective fiscal quarter or year pursuant to the officer’s certificate last delivered (or required to be delivered) pursuant to Section 7.1(a) or (b) but after giving effect to repayments of Loans (but in the case of repayments of Revolving Loans only to the extent the Total Revolving Credit Commitment was contemporaneously reduced by a corresponding amount) made after the last day of such fiscal quarter or year and prior to the respective application of Net Equity Proceeds pursuant to the provisions of Section 2.5(k)) is equal to or less than 3.00:1.00, then the Applicable Equity Recapture Percentage for purposes of this clause (y) shall instead be 25%, provided further, that (i) if the Applicable Equity Recapture Percentage would otherwise be 50% but after giving effect to the respective application of Net Equity Proceeds pursuant to Section 2.5(k) in a percentage less than 50%, the Consolidated Leverage Ratio would be equal to or less than 3.00:1.00, the Applicable Equity Recapture Percentage for the purposes of this clause (y) shall instead be 25% or such higher percentage (not to exceed 50%) as may be necessary to reduce the Consolidated Leverage Ratio to 3.00:1.00 after giving effect to such application and (ii) notwithstanding anything to the contrary contained above, at any time that a Default or an Event of Default is then in existence, the Applicable Equity Recapture Percentage for the purposes of this clause (y) shall be 50%, and (z) in the case of any Equity Issuance by the Borrower or any other Domestic Subsidiary or Canadian Subsidiary of Holdings, 100%.
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Examples of Agent Advance Period in a sentence

  • Once notice is -------------------- given by a Borrower that circumstances exist which prevent the conditions to borrowing from being fulfilled, no additional notice with respect to the same circumstances will be effective to commence a new Agent Advance Period.

  • Once notice is given by a Borrower that circumstances exist which ------ prevent the conditions to borrowing from being fulfilled, no additional notice with respect to the same circumstances will be effective to commence a new Agent Advance Period.

  • Notwithstanding anything to the contrary set forth herein (but subject to Section 2.01(e)), it shall be a condition precedent to each Credit Event that after giving effect thereto (and the use of the proceeds thereof): (a) the Aggregate Exposure would not exceed 100% (or, during an Agent Advance Period 110%) of the Borrowing Base at such time; and (b) the Aggregate Exposure at such time would not exceed the Total Revolving Loan Commitment at such time.

  • Notwithstanding anything to the contrary set forth herein (but subject to Section 2.01(e)), it shall be a condition precedent to each Credit Event that after giving effect thereto (and the use of the proceeds thereof): (a) the Aggregate Exposure would not exceed 100% (or, during an Agent Advance Period 105%) of the Borrowing Base at such time; and (b) the Aggregate Exposure at such time would not exceed the Total Revolving Loan Commitment at such time.


More Definitions of Agent Advance Period

Agent Advance Period has the meaning specified in Section 2.01(d). “Agent Deposit Account” has the meaning specified in Section 2.19(c). “Agent Parties” has the meaning specified in Section 10.02(b). “Agent-Related Distress Event” means, with respect to the Administrative Agent or any Person that directly or indirectly Controls the Administrative Agent (each, a “Distressed Agent-Related Person”), a voluntary or involuntary case with respect to such Distressed Agent-Related Person under any Debtor Relief Law, or a custodian, conservator, receiver or similar official is appointed for such Distressed Agent-Related Person or any -3
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Agent Advance Period provided, that an Agent Advance Period may not commence (i) on any date occurring during the continuance of another Agent Advance Period or (ii) earlier than the second Business Day following the termination of any previous Agent Advance Period); provided further that the Administrative Agent shall not make any Agent Advance to the extent that at the time of the making of such Agent Advance, (I) the amount of such Agent Advance when added to the aggregate outstanding amount of all other Agent Advances (w) made to, if such Agent Advance is a U.S. Borrower Revolving Loan, the U.S. Borrowers at such time (for this purpose, using the U.S. Dollar Equivalent of amounts not denominated in U.S. Dollars), would exceed 5% of the U.S. Borrowing Base at such time, (x) made to, if such Agent Advance is a Canadian Borrower Revolving Loan, the Canadian Borrowers at such time (for this purpose, using the U.S. Dollar Equivalent of amounts not denominated in U.S. Dollars), would exceed 5% of the Canadian Borrowing Base at such time, (y) if such Agent Advance is a U.S. Facility Revolving Loan, that are U.S. Facility Revolving Loans (for this purpose, using the U.S. Dollar Equivalent of amounts not denominated in U.S. Dollars), would exceed 5% of the Total U.S. Facility Commitment at such time or (z) if such Agent Advance is a Canadian Facility Revolving Loan, that are Canadian Facility Revolving Loans (for this purpose, using the U.S. Dollar Equivalent of amounts not denominated in U.S. Dollars), would exceed 5% of the Total Canadian Facility Commitment at such time (each, an “Agent Advance Amount”) or (II) the amount of such Agent Advance (after giving effect thereto) would cause (x) if such Agent Advance is a U.S. Facility Revolving Loan, (A) the Individual U.S. Facility Exposure of any U.S. Facility Lender to exceed the amount of such U.S. Facility Lender’s U.S. Facility Commitment at such time or (B) the Aggregate U.S. Facility Exposure to exceed the Total U.S. Facility Commitment at such time or (y) if such Agent Advance is a Canadian Facility Revolving Loan, (A) the Individual Canadian Facility Exposure of any Canadian Facility Lender to exceed the amount of such Canadian Facility Lender’s Canadian Facility Commitment at such time or (B) the Aggregate Canadian Facility Exposure to exceed the Total Canadian Facility Commitment at such time. Agent Advances may be made by the Administrative Agent in its sole discretion and no Borrower shall have any right whatsoever to re...
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Agent Advance Period shall have the meaning provided in Section 2.01(e). “Agents” shall mean, collectively, the Administrative Agent and the Collateral Agent, and individually, shall mean any one of the Administrative Agent or Collateral Agent. “Aggregate Exposure” shall mean, at any time, the sum of (a) the aggregate principal amount of all Revolving Loans then outstanding, (b) the aggregate amount of all Letter of Credit Usage at such time (exclusive of Letter of Credit Usage which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Loans) and (c) the aggregate principal amount of all Swingline Loans then outstanding (exclusive of Swingline Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans). “Agreement” shall mean this credit agreement, as modified, supplemented, amended, restated (including any amendment and restatement hereof), extended or renewed from time to time. “Amendment No. 1” shall mean Amendment No. 1 to Amended and Restated ABL Credit Agreement, dated as of November 14, 2017, by and among Agent, Lenders, Borrowers and Guarantors, as modified, supplemented, amended, restated, extended or renewed from time to time. “Amendment No. 2” shall mean Amendment No. 2 to Amended and Restated ABL Credit Agreement, dated as of December 23, 2019, by and among Agent, Borrowers and Guarantors, as modified, supplemented, amended, restated, extended or renewed from time to time. “Amendment No. 3” shall mean Amendment No. 3 to Amended and Restated ABL Credit Agreement, dated as of June 30, 2022, by and among Agent, Lenders, Borrowers and Guarantors, as modified, supplemented, amended, restated, extended or renewed from time to time. “Amendment No. 3 Effective Date” has the meaning set forth in Section 4 of Amendment No. 3.
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Agent Advance Period shall have the meaning provided in Section 2.01(e). “Agents” shall mean, collectively, the Administrative Agent and the Collateral Agent, and individually, shall mean any one of the Administrative Agent or Collateral Agent. “Aggregate Exposure” shall mean, at any time, the sum of (a) the aggregate principal amount of all Revolving Loans then outstanding, (b) the aggregate amount of all Letter of Credit Outstandings at such time (exclusive of Letter of Credit Outstandings which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Loans) and (c) the aggregate principal amount of all Swingline Loans then outstanding (exclusive of Swingline Loans which are repaid with the proceeds of, and simultaneously with the incurrence of, the respective incurrence of Revolving Loans). 2 #93457508v14
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Agent Advance Period is defined in Section 3.1(2).
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Agent Advance Period has the meaning specified in Section 2.3(b).
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Related to Agent Advance Period

  • Agent Advance shall have the meaning provided in Section 2.01(e).

  • Agent Advances has the meaning set forth in Section 2.3(e)(i).

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

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Equipment Advance is defined in Section 2.1.1.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Loan Advance The meaning specified in Section 2.2(a).

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • 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.

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Extended Term Loan Repayment Amount shall have the meaning provided in Section 2.5(c).

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • 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.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Delayed Draw Term Loan Lender means a Lender with a Delayed Draw Term Loan Commitment or an outstanding Delayed Draw Term Loan.