Credit Card Services Sublimit definition

Credit Card Services Sublimit means a sublimit for corporate credit cards and e-commerce or merchant account services under the Revolving Line not to exceed Three Hundred Thousand Dollars ($300,000).

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Credit Card Services Sublimit means a sublimit for corporate credit cards under the Revolving Facility not to exceed US$750,000.

Credit Card Services Sublimit means a sublimit for corporate credit cards and e-commerce or merchant account services under the Revolving Credit not to exceed Two Hundred Fifty Thousand Dollars ($250,000).

Examples of Credit Card Services Sublimit in a sentence

The aggregate limit of the corporate credit cards and merchant credit card processing reserves shall not exceed the Credit Card Services Sublimit, provided that availability under the Revolving Line shall be reduced by the aggregate limits of the corporate credit cards issued to Borrower and merchant credit card processing reserves.
The aggregate limit of the corporate credit cards and merchant credit card processing reserves shall not exceed the Credit Card Services Sublimit, provided that availability under the Revolving Line shall be reduced by the aggregate limits of the corporate credit cards issued to Borrowers and merchant credit card processing reserves.
If at any time the aggregate amount of the outstanding Advances exceeds the lesser of (y) the Revolving Line or (z) the Borrowing Base, in each case, minus any amounts outstanding under the Letter of Credit Sublimit and minus the aggregate limits of the corporate credit cards issued to Borrowers and merchant credit card processing reserves under the Credit Card Services Sublimit, Borrowers shall immediately pay to Bank, in cash, the amount of such excess.
Subject to and upon the terms and conditions of this Agreement Borrower may request Advances in an aggregate outstanding amount not to exceed the lesser of (A) the Revolving Line or (B) the Borrowing Base, less the aggregate face amount of Letters of Credit issued under the Letter of Credit Sublimit and the aggregate limits of the corporate credit cards issued to Borrower and merchant credit card processing reserves under the Credit Card Services Sublimit.
The aggregate limit of the corporate credit cards and merchant credit card processing reserves shall not exceed the Credit Card Services Sublimit.
The FX Amount shall at all times be equal to or less than Five Hundred Thousand Dollars ($500,000), less any amounts outstanding under the Letter of Credit Sublimit and the Credit Card Services Sublimit.
Notwithstanding the foregoing, aggregate limits of the corporate credit cards issued to Borrower and merchant credit card processing reserves under the Credit Card Services Sublimit, together with the aggregate outstanding amount of Letters of Credit and amounts outstanding under the Foreign Exchange Sublimit, shall not exceed the Maximum Sublimit Amount at any time.
In addition, if at any time (a) the amount equal to the sum of the outstanding face amount of all Letters of Credit plus the aggregate limits of the corporate credit cards issued to Borrowers and merchant credit card processing reserves under the Credit Card Services Sublimit, exceeds (b) Fifteen Million Dollars ($15,000,000), Borrowers shall immediately provide to Bank cash collateral in an amount equal to 105% of the amount of such excess, to secure such Obligations.
If the aggregate amount of the outstanding Advances plus any amounts outstanding under the Letter of Credit Sublimit, the Credit Card Services Sublimit, and the ACH Sublimit and plus the FX Amount, exceeds the Revolving Line at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.
Subject to and upon the terms and conditions of this Agreement, Borrowers, or any of them, may request Advances in an aggregate outstanding amount not to exceed the lesser of (A) the Revolving Line or (B) the Borrowing Base, less the aggregate face amount of Letters of Credit issued under the Letter of Credit Sublimit and the aggregate limits of the corporate credit cards issued to Borrowers, or any of them, and merchant credit card processing reserves under the Credit Card Services Sublimit.

More Definitions of Credit Card Services Sublimit

Credit Card Services Sublimit means a sublimit for corporate credit cards under the Revolving Line not to exceed $750,000, subject to the Maximum Sublimit Amount.” “‘EBITDA’ means with respect to any fiscal period an amount equal to the sum of (a) Consolidated Net Income of the Borrowers and their Subsidiaries for such fiscal period, plus (b) in each case to the extent deducted in the calculation of the Borrowers’ Consolidated Net Income and without duplication, (i) depreciation and amortization for such period, plus (ii) income tax expense for such period, plus (iii) Consolidated Total Interest Expense paid or accrued during such period, plus (iv) any non-cash expenses for such period, all as determined in accordance with GAAP.” “‘Indebtedness’ means (a) all indebtedness for borrowed money or the deferred purchase price of property or services, including without limitation reimbursement and other obligations with respect to surety bonds and letters of credit which are or should be shown on a balance sheet as debt in accordance with GAAP, (b) all obligations evidenced by notes, bonds, debentures or similar instruments which are or should be shown on a balance sheet as debt in accordance with GAAP, (c) all capital lease obligations, (d) all Contingent Obligations, and (e) all obligations arising under the Credit Card Services Sublimit.” “‘Letter of Credit Sublimit’ means a sublimit for Letters of Credit under the Revolving Line not to exceed $750,000, subject to the Maximum Sublimit Amount.”