Bank Product Amount definition

Bank Product Amount shall have the meaning set forth in the definition of Bank Product.

Bank Product Amount is defined in the definition of Bank Product.

Bank Product Amount as defined in the definition of Secured Bank Product Obligations.

Examples of Bank Product Amount in a sentence

• The Bank Product Amount may be changed from time to time upon written notice to Agent by the Secured Party and Obligor.

• Bank Product Amount: as defined in the definition of Bank Product.

• In the absence of such notice, the Administrative Agent may assume the amount to be distributed is the Bank Product Amount last reported to the Administrative Agent.

• Amounts distributed with respect to any Bank Product Debt shall be the last Bank Product Amount reported to the Administrative Agent; provided that any such Bank Product Provider may provide an updated Bank Product Amount to the Administrative Agent prior to payments made pursuant to this Section.

• No Bank Product Amount may be established or increased at any time that a Default or Event of Default exists, or if a reserve in such amount would cause an Overadvance.

More Definitions of Bank Product Amount

Bank Product Amount has the meaning specified in the definition of “Bank Product Debt.”

Bank Product Amount has the meaning specified in the definition of Secured Bank Product Provider.

Bank Product Amount as defined in Section 5.5.1.

Bank Product Amount means the Bank’s determination, in its reasonable discretion, as to the maximum dollar amount of the obligations arising under any Bank Products that may be included in a reserve under the Borrowing Base.

Bank Product Amount has the meaning set forth in the definition of Obligations.

Bank Product Amount as defined in the definition of Bank Product. Bank Product Debt: Debt and other obligations of an Obligor relating to Bank Products.

Bank Product Amount as defined in the definition of Bank Product. Bank Product Debt: Debt and other obligations of a Credit Party relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its commercially reasonable discretion in respect of Bank Product Debt. The amount of any Bank Product Reserve established by Agent (x) shall have a reasonable relationship to the Bank Product Debt which is the basis for such Reserve as determined by Agent in good faith and (y) shall not be duplicative of other Reserves then in effect. The imposition of any new Bank Product Reserves or change in a Bank Product Reserve after the Closing Date shall not be effective until three (3) Business Days after notice thereof (which may be oral notice, promptly confirmed in writing) to the Borrower Agent (unless a Default or Event of Default has occurred and is continuing, in which case such reserve or change in reserve shall be effective immediately); provided further that during the period from such notice until such new or changed Bank Product Reserve is effective, the aggregate amount of all outstanding Loans and LC Obligations as of the date of the receipt of notice may not be increased to the extent such increase would not be permitted by virtue of the Borrowing Base as adjusted after giving effect to such modification. Upon delivery of a notice described above, the Credit Parties may take such action as may be required so that the event, condition, circumstance or new fact that is the basis for such Bank Product Reserve or increase no longer exists, in a manner and to the extent reasonably satisfactory to the Agent. Bankruptcy Code: Title 11 of the United States Code. Base Rate: for any day, a per annum rate equal to the greatest of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; and (c) LIBOR for a one month interest period as determined on such day, plus 1.00%.