Available Term Loan Commitment definition

Available Term Loan Commitment means, on any date of determination, an amount equal to the then unfunded amount of the outstanding Term Loan Commitments on such date, if any.

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Available Term Loan Commitment means, with respect to any Lender, an amount equal to the excess, if any, of (i) the amount of the Term Loan Commitment of such Lender over (ii) the sum of the aggregate principal amount of all Term Loans made by such Lender hereunder prior to such date.

Available Term Loan Commitment means at any time (i) with respect to all Lenders, the aggregate amount of the Term Loan Commitments of all Lenders at such time less the aggregate amount of Advances made to the Borrower pursuant to the Term Loan Commitments at such time, and (ii) with respect to any Lender, the amount of the Available Term Loan Commitment of all Lenders at such time multiplied by the Participation of such Lender.

Examples of Available Term Loan Commitment in a sentence

Each borrowing pursuant to the Term Loan Commitment shall be in an aggregate principal amount of (A) the lesser of (x) $50,000 or whole multiples thereof, and (y) the Available Term Loan Commitment, with respect to Prime Rate Loans, and (B) at least $250,000 with respect to LIBOR Loans.
Each Lender, severally and not jointly, agrees to ---------- lend to Borrower, during the period commencing on the date all conditions precedent set forth in Subsections 7.1 and 7.2 are satisfied or waived as provided herein and ending on the Term Loan Availability Expiration Date, its Pro Rata Share of each Term Loan; provided that the aggregate principal amount -------- of all Term Loans advanced may not exceed the Available Term Loan Commitment.
Under the Amended Term Loan Facility, subject to the terms and conditions hereof, the Company may have outstanding, from time to time, an aggregate principal amount at any one time not in excess of the Available Term Loan Commitment in effect on such date.
The Available Term Loan Commitment of each Lender, if any, shall automatically and permanently be reduced to zero on the Maturity Date.
For clarification, the addition of PIK Interest to the outstanding principal balance of any Loan shall constitute part of the outstanding principal amount of such Loan but the addition of PIK Interest shall not reduce the Available Term Loan Commitment of any Lender.

More Definitions of Available Term Loan Commitment

Available Term Loan Commitment means (a) at any time prior to the Term Loan Maturity Date, the Total Term Loan Commitment at such time minus the aggregate outstanding amount of the Term Loans at such time, and (b) after the conditions set forth in clause (a) are satisfied, zero.

Available Term Loan Commitment means, as to any Term Loan Lender, at any time, an amount equal to such Term Loan Lender's Available Class A Commitment and Available Class B Commitment.

Available Term Loan Commitment means at any time the Term Loan Commitment reduced by the aggregate outstanding principal amount of the Term Loans.

Available Term Loan Commitment as at any date of determination with respect to any Initial Term Loan Lender, an amount equal to the excess, if any, of (a) such Lender's Term Loan Commitment then in effect over (b) such Lender's Initial Term Loans then outstanding.

Available Term Loan Commitment means, as of any date of determination prior to the Maturity Date, the lesser of (i) the Total Commitment or (ii) the Borrowing Base. As used herein, the term "BORROWING BASE" shall mean, as of any date of determination, an amount equal to the LEAST of:

Available Term Loan Commitment means, at any time, the difference equal to (a) the "Commitment" as defined in the Term Loan agreement minus (b) the aggregate original principal amount of loans issued under the Term Loan agreement.

Available Term Loan Commitment means, at any time, the lesser of (i) the Term Loan Commitment or (ii) the product of the Total Vendor Purchases multiplied by 1.6, minus, in either case, the aggregate principal amount of Term ---------- -- ----- Loans advanced.