Credit Card Sublimit definition
Examples of Credit Card Sublimit in a sentence
Subject to the terms and conditions of this Agreement, Borrower may request corporate credit cards with an aggregate limit not in excess of One Hundred Thousand Dollars ($100,000) (the "Credit Card Sublimit"), provided that availability under the Revolving Line shall be reduced by the aggregate limit of such credit cards, plus any other amounts owing by Borrower to Bank under this Section 2.1(c).
Bank agrees to make Advances to Borrower in an aggregate outstanding amount not to exceed (i) the Committed Revolving Line or the Borrowing Base, whichever is less, minus (ii) the face amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), minus (iii) the Credit Card Sublimit.
All agreements executed in connection with the Credit Card Sublimit shall be, in form and substance, acceptable to Bank, in its sole discretion.
The terms and conditions (including repayment and fees) of such Credit Card Sublimit shall be subject to the terms and conditions of the Bank's standard forms of application and agreement for corporate credit card(s), which Borrowers hereby agree to execute.
CREDIT CARD SUBLIMIT Up to $50,000 of the Credit Limit (the "Credit Card Sublimit") may be used by the Borrower in connection with Silicon's issuance of corporate credit cards (the "Credit Cards") for OFFICERS of the Borrower as the Borrower designates from time to time, with the aggregate credit limit for all such Credit Cards not to exceed $50,000 at any time.
The Credit Limit set forth above and the Loans available under this Agreement at any time shall be reduced by the face amount of Letters of Credit from time to time outstanding and the amount of the Credit Card Sublimit set forth above.
If at any time the availability of Advances hereunder is subject to the Borrowing Base, the outstanding Advances under Section 2.1(a), PLUS the Letter of Credit Sublimit, the Credit Card Sublimit and the Foreign Exchange Sublimit, exceed the lesser of the Borrowing Base or the Committed Revolving Line, Borrowers shall immediately pay Bank, in cash, the amount of such excess.
Subject to the terms and conditions of this Agreement, Bank agrees to issue or cause to be issued corporate credit cards for the executives of Borrower in an aggregate credit limit not to exceed Five Hundred Thousand Dollars ($500,000) (the "Credit Card Sublimit").
Bank will issue or have issued Letters of Credit for Borrower's account not exceeding (i) the lesser of the Committed Revolving Line or the Borrowing Base, minus (ii) the outstanding principal balance of the Advances minus the Business Credit Card Sublimit; however, the face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) may not at any time exceed Five Hundred Thousand Dollars ($500,000).
Subject to the terms and conditions of this Agreement, Borrower may request corporate credit cards from Bank with an aggregate limit not in excess of One Hundred Thousand Dollars ($100,000) (the "Credit Card Sublimit"), provided that availability under the Revolving Line and the Credit Card Sublimit shall be reduced by the aggregate limit of such credit cards, plus any other amounts owing by Borrower to Bank under this Section 2.1(e).