Cash Management Line of Credit definition

Cash Management Line of Credit means a cash management line of credit between the Borrower and First Union in an aggregate principal amount not in excess of $5,000,000.
Sample 1Sample 2Sample 3
Cash Management Line of Credit set forth in Article I of the Agreement is hereby amended to read, in its entirety, as follows:
Sample 1
Cash Management Line of Credit means a secured line of credit, by and between the Borrower and Bank of America having availability of not more than the lesser of (a) Available Commitment and (b) $5,000,000.00 and to be used by the Borrower for cash management purposes, the obligations under which are evidenced by the Autoborrow Service Agreement.
Sample 1

Examples of Cash Management Line of Credit in a sentence

  • If any payment received by Bank of America in respect of principal or interest on any Loan made under the Cash Management Line of Credit is required to be returned by Bank of America, each Bank shall pay to Bank of America its pro rata share thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds Rate.

  • Loans under the Cash Management Line of Credit shall otherwise be subject to such conditions and procedures for funding as Administrative Agent may from time to time impose and such Loans shall bear interest at the Daily Rate or such other rate as Bank of America and the Borrower may agree to in writing.

  • If for any reason any Loan under the Cash Management Line of Credit cannot be refinanced by other Loans, each Bank shall, within one Business Day of demand of Bank of America (made through the Administrative Agent) fund its participation in such Loan.

  • Use the proceeds of the (a) Revolving Loans, Letters of Credit and Cash Management Line of Credit solely for the purposes of (i) financing working capital, (ii) financing capital expenditures of Borrower, and (iii) financing other lawful corporate purposes and (b) Delayed Draw Term Loans solely for the purpose of Borrower acquiring indefeasible usage rights to certain fiber optic networks.

  • Immediately upon the making of a Loan under the Cash Management Line of Credit, each Bank shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from Bank of America a participation in such Loan in an amount equal to such Bank's Commitment Ratio of the amount of such Loan.

  • At any time after any Bank has purchased and funded a participation in a Loan made under the Cash Management Line of Credit, if Bank of America receives any payment on account of such Loan, Bank of America will distribute to such Bank its pro rata share of such payment (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Bank's participation was outstanding and funded) in the same funds as those received by Bank of America.

  • The U.S. agency administering the contract with the Canadian Com- mercial Corporation shall provide any services required by the Canadian Com- mercial Corporation, including disposal of inventory, for settlement of any sub-contracts placed in the United States.


More Definitions of Cash Management Line of Credit

Cash Management Line of Credit means that certain line of credit in the maximum principal amount of $10,000,000 made available by AmSouth, as lender, to the Borrowers pursuant to a Short-Term Credit Agreement dated as of October 27, 1995, as amended by a certain First Amendment thereto dated November 1, 1996, and by a Second Amendment thereto dated June 4, 1997, with a maturity date of June 3, 1998, as the same may be renewed or extended from time to time hereafter.
Sample 1
Cash Management Line of Credit means that certain unsecured line of credit from Bank of America and included within Bank of America's Commitment hereunder having availability of not more than $20,000,000 and to be used by the Borrower for cash management purposes.
Sample 1
Cash Management Line of Credit means that certain unsecured line of ------------------------------ credit from Bank of America and included within Bank of America's Commitment hereunder having availability of not more than $20,000,000 and to be used by the Borrower for cash management purposes.
Sample 1
Cash Management Line of Credit means that certain line of credit in the maximum principal amount of $15,000,000 made available by AmSouth, as lender, to the Borrowers pursuant to a Short-Term Credit Agreement dated as of October 27, 1995, as amended by a certain First Amendment thereto dated November 1, 1996, by a Second Amendment thereto dated June 4, 1997, by a Third Amendment thereto dated June 3, 1998 and by a Fourth Amendment thereto dated September 25, 2000, with a maturity date of May 30, 2001, as the same may be renewed or extended from time to time hereafter."
Sample 1

Related to Cash Management Line of Credit

  • Secured Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Cash Management Account has the meaning set forth in Section 2.7(a).

  • Specified Cash Management Agreement any agreement providing for treasury, depositary or cash management services, including in connection with any automated clearing house transfers of funds or any similar transactions between the Borrower or any Guarantor and any Lender or affiliate thereof or any Agent or affiliate thereof, which has been designated by such Lender and the Borrower, by notice to the Administrative Agent not later than 90 days after the execution and delivery by the Borrower or such Guarantor, as a “Specified Cash Management Agreement”.

  • Cash Management Agreement means any agreement to provide cash management services, including treasury, depository, overdraft, credit or debit card, electronic funds transfer and other cash management arrangements.

  • Cash Management Accounts means the bank accounts of each Loan Party maintained at one or more Cash Management Banks listed on Schedule 8.01.

  • Cash Management Reserves means such reserves as the Agent, from time to time, determines in its Permitted Discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Cash Management Services then provided or outstanding.

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Cash Management Agreements means any agreement providing for treasury, depository, purchasing card or cash management services, including in connection with any automated clearing house transfer of funds or any similar transaction entered into in the ordinary course of business.

  • Guaranteed Cash Management Agreement means any Cash Management Agreement that is entered into by and between any Loan Party and any Cash Management Bank.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Secured Cash Management Obligations means Obligations under Secured Cash Management Agreements.

  • Cash Management Obligations means (a) obligations in respect of any treasury management services, overdraft and related liabilities arising from treasury, depository, cash pooling arrangements and cash management services or any automated clearing house transfers of funds and (b) other obligations in respect of netting services, employee credit, commercial credit card, debit card, stored value card or purchase card programs and similar arrangements.

  • Cash Management Obligation means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person under or in respect of a Cash Management Agreement.

  • Bank Credit Agreement means the Credit Agreement dated as of May 9, 2005 by and among the Company, certain Subsidiaries of the Company named therein, the Administrative Agent, and the Bank Lenders and other financial institutions party thereto, as amended, restated, joined, supplemented or otherwise modified from time to time, and any renewals, extensions or replacements thereof, which constitute the primary bank credit facility of the Company and its Subsidiaries.

  • Cash Management Document means any certificate, agreement or other document executed by any Loan Party in respect of the Cash Management Obligations of any Loan Party.

  • Cash Management Arrangements means all cash management arrangements pursuant to which Honeywell or its Subsidiaries automatically or manually sweep cash from, or automatically or manually transfer cash to, accounts of SpinCo or any member of the SpinCo Group.

  • Cash Management Services means any cash management or related services including treasury, depository, return items, overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds transfer, interstate depository network, automatic clearing house transfer (including the Automated Clearing House processing of electronic funds transfers through the direct Federal Reserve Fedline system) and other cash management arrangements.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Credit Line as defined in Section 2.1.

  • Cash Management Systems has the meaning ascribed to it in Section 1.8.

  • Borrower Credit Agreement Obligations the collective reference to the unpaid principal of and interest on the Loans and Reimbursement Obligations and all other obligations and liabilities of the Borrower (including, without limitation, interest accruing at the then applicable rate provided in the Credit Agreement after the maturity of the Loans and Reimbursement Obligations and interest accruing at the then applicable rate provided in the Credit Agreement after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or any Lender, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which may arise under, out of, or in connection with, the Credit Agreement, this Agreement, or the other Loan Documents, or any Letter of Credit, or any other document made, delivered or given in connection therewith, in each case whether on account of principal, interest, reimbursement obligations, fees, indemnities, costs, expenses or otherwise (including, without limitation, all fees and disbursements of counsel to the Administrative Agent or to the Lenders that are required to be paid by the Borrower pursuant to the terms of any of the foregoing agreements).

  • Cash Management Bank means any Person that, at the time it enters into a Cash Management Agreement, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Cash Management Agreement.

  • Cash Management System shall have the meaning assigned to such term in Section 9.01(e).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary: