Bank Product Debt means the Indebtedness and other obligations of any Credit Party or Subsidiary relating to Bank Products.
Bank Product Debt means Indebtedness and other obligations of a Loan Party relating to Bank Products, but excluding in any case, for the avoidance of doubt, Funded Indebtedness.
Examples of Bank Product Debt in a sentence
Notwithstanding any other provision of this Article to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Bank Product Debt unless the Administrative Agent has received written notice of such Credit Party Obligations, together with such supporting documentation as the Administrative Agent may request, from the applicable Bank Product Provider.
Bank Product Debt: Indebtedness and other obligations of an Obligor or Subsidiary relating to Bank Products.
More Definitions of Bank Product Debt
Bank Product Debt has the meaning assigned thereto in the Revolver Loan Agreement on the Closing Date. Bankruptcy Code: Title 11 of the United States Code. Base Rate: on any day, the greater of (i) the rate of interest publicly announced by the Reference Bank in New York, New York from time to time as its reference rate, base commercial lending rate or prime rate and (ii) 3.50% per annum. The reference rate, base commercial lending rate or prime rate is determined from time to time by the Reference Bank as a means of pricing some loans to its borrowers and neither is tied to any external rate of interest or index nor necessarily reflects the lowest rate of interest actually charged by the Reference Bank to any particular class or category of customers. Each change in the Reference Rate shall be effective from and including the date such change is publicly announced as being effective.
Bank Product Debt means Indebtedness and other obligations of the Obligors or any one or more of them relating to Bank Products.
Bank Product Debt means Indebtedness and other obligations of a Borrower or any of the Lead Borrower’s Subsidiaries relating to Bank Products.
Bank Product Debt. Debt and other obligations of an Obligor relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Secured Bank Product Obligations. Bankruptcy Code: Title 11 of the United States Code. Base Rate: for any day, a per annum rate equal to the greater of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; or (c) LIBOR for a 30 day interest period as determined on such day, plus 1.0%.
Bank Product Debt of any Person means any obligation of such Person pursuant to any Bank Products Agreement.
Bank Product Debt means Indebtedness and other obligations of a Loan Party relating to Bank Products. The amount of the Bank Product Debt may be changed from time to time upon written notice to the Administrative Agent by the Secured Party and the Loan Party. No new Bank Product may be established or existing Bank Product Debt voluntarily increased at any time that a Default exists, or if a reserve against such amounts would cause an Overadvance.