Available Loan Commitment definition

Available Loan Commitment as to any Lender, at a particular time, an amount equal to such Lender's Commitment Percentage multiplied by the difference between (a) the amount of the Loan Commitments at such time and (b) the Aggregate Loans at such time; collectively, as to all the Lenders, the "Available Loan Commitments."

Available Loan Commitment means, at any time, an amount equal to the excess, if any, of (x) the aggregate amount of the Loan Commitments, minus (y) the aggregate principal amount of all Loans outstanding.

Available Loan Commitment means at any time and from time to time during the Loan Availability Period, the Total Loan Commitment at such time minus the sum of (a) the aggregate principal amount of all Loans outstanding at such time plus (b) the aggregate Stated Amount of all Letters of Credit and outstanding Reimbursement Obligations thereunder at such time.

Examples of Available Loan Commitment in a sentence

• Subject to the terms and conditions of this Agreement and from time to time prior to the Maturity Date, each Lender, severally and not jointly, agrees to make Revolving Loans to Borrower in an aggregate principal amount that will not result in (a) such Lender’s Outstanding Credit Exposure exceeding such Lender’s Commitment or (b) the sum of the Outstanding Credit Exposures for all the Lenders exceeding the Available Loan Commitment.

• If for any reason the Outstanding Credit Exposure at any time exceeds the Available Loan Commitment then in effect, Borrower shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that Borrower shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.4(d) unless such excess continues after the prepayment in full of the Loans.

• Borrower shall pay to Administrative Agent any Commitment Fees then due upon any cancellation and, from the effective date of any reduction, the Commitment Fees shall be computed on the basis of the Available Loan Commitment, as so reduced.

• If, at any time, the aggregate Outstanding Loan Borrowings exceed the Available Loan Commitment, (including, without limitation, by reason of Commitment Amount reductions, changes in Appraised Values, exclusion of Eligible Collateral, adjustments to the Borrowing Base or Collateral Value, or otherwise), Borrower shall be obligated to make a payment to Lender in an amount equal to that amount by which the Outstanding Loan Borrowings exceed the Available Loan Commitment (a “Remargining Payment”).

• Subject to the terms and conditions of this Agreement and provided that there is no Default or Event of Default, the Banks agree, severally in accordance with their Commitment Ratios with respect to the Loan Commitment, and not jointly, upon the terms and subject to the conditions of this Agreement, to lend and re-lend to the Borrower, prior to the Maturity Date, amounts which in the aggregate at any one time outstanding do not exceed the Available Loan Commitment.

More Definitions of Available Loan Commitment

Available Loan Commitment means at any time, the lesser of:

Available Loan Commitment as to any Lender at any time, an amount equal to the excess, if any, of (a) the lesser of (i) the amount of such Lender’s Commitment at such time and (ii) the amount equal to such Lender’s Commitment Percentage of the Borrowing Base over (b) the sum of (i) the aggregate unpaid principal amount at such time of all Revolving Credit Loans made by such Lender (including in the case of Revolving Credit Loans made by such Lender in any Designated Foreign Currency, the Dollar Equivalent of the aggregate unpaid principal amount thereof), (ii) the amount equal to such Lender’s Commitment Percentage of the aggregate unpaid principal amount at such time of all Swingline Loans and (iii) the amount equal to such Lender’s Commitment Percentage of the outstanding L/C Obligations at such time. For purposes of the definition of “Payment Condition”, the aggregate Available Loan Commitments shall be calculated on a pro forma basis to include the borrowing or repayment of any Loans or issuance or cancellation of any Letters of Credit in connection with the proposed transaction.

Available Loan Commitment means, at any time with respect to the Loan and the amount of Commitment available to Borrower, the lesser of: (a) the Commitment Amount; or (b) the result of multiplying the aggregate Collateral Value of all Eligible Collateral in the Borrowing Base (as such Collateral Value may be adjusted from time to time pursuant to Article 3) by the applicable Maximum Allowed Advance Rate with respect to such Eligible Collateral.

Available Loan Commitment means, as to any Lender at any time, an amount equal to the excess, if any, of (a) the amount of such Lender's Loan Commitment over (b) the aggregate principal amount of all Loans made by such Lender as of such date (whether or not any such Loans have been repaid).

Available Loan Commitment means, as of any date of determination, an amount equal to (a) if Borrower has an Investment Grade Rating from any two (2) of Mxxxx’x, S&P, and Fitch, then the Total Revolving Credit Commitment, or (b) if Borrower does not have an Investment Grade Rating from any two (2) of Mxxxx’x, S&P, and Fitch, then the lesser of (i) the Total Revolving Credit Commitment, and (ii) (A) the Loan Funding Availability less (B) the then-outstanding principal balances of all Senior Unsecured Indebtedness (other than the Obligations).

Available Loan Commitment means, as of any date, an amount equal to (a) if Borrower has an Investment Grade Rating, the Aggregate Commitments, or (b) if Borrower does not have an Investment Grade Rating, then the lesser of (i) the Borrowing Base Availability and (ii) the Aggregate Commitments.

Available Loan Commitment means, at any time, the Commitment at such time, less: (a) all Equipment Loans outstanding at such time; and (b) the Maximum Drawing Amount of all Equipment L/Cs outstanding at such time.