ARS Credit Facility definition

ARS Credit Facility means the credit facility provided to Borrower by UBS Bank USA and UBS Financial Services Inc. pursuant to a Credit Line Agreement and which is secured by a Lien on Borrower’s Pledged ARS.
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ARS Credit Facility means the credit facility provided to Borrower by UBS Bank USA pursuant to a Credit Line Agreement dated January 14, 2009 and which is secured by a Lien on Borrower’s Pledged ARS.
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Examples of ARS Credit Facility in a sentence

  • At all times a ratio of Quick Assets to Current Liabilities minus the current portion of Deferred Revenue and minus Borrower’s Indebtedness under the ARS Credit Facility of at least 1.50 to 1.0, which ratio shall be tested monthly.

  • Within thirty (30) days after June 30, 2010, (i) Borrower shall exercise its “put” rights under the ARS Rights, (ii) UBS AG shall repurchase from Borrower the Pledged ARS at a purchase price equal to the par amount of such Pledged ARS plus interest, and (ii) Borrower shall repay in full all of Borrower’s Indebtedness under the ARS Credit Facility.

  • There is any default under the ARS Credit Facility or Borrower’s obligations under the ARS Credit Facility become due and payable, whether upon demand or otherwise, for any reason.

  • Borrower shall not amend the ARS Credit Facility without the prior written consent of Collateral Agent.

  • There is any default under the ARS Credit Facility or Borrower’s obligations under the ARS Credit Facility become due and payable, whether upon demand or otherwise, for any reason other than by means of the exercise of the ARS rights described in Section 6.10 hereof.

  • On or before July 31, 2010, (i) Borrower shall exercise its “put” rights under the ARS Rights, (ii) UBS AG shall repurchase from Borrower the Pledged ARS at a purchase price equal to the par amount of such Pledged ARS plus interest, and (iii) Borrower shall repay in full all of Borrower’s Indebtedness under the ARS Credit Facility.