Disposition Limit definition

Disposition Limit means, with respect to any Disposition permitted pursuant to Section 7.05(a), Section 7.05(c) or Section 7.05(h), $6,000,000 in the aggregate for all such Dispositions in any Fiscal Year, so long as, in each case, no Revolver Overadvance and no Term Loan Overadvance shall exist, in each case before or immediately after giving effect to such Disposition.
View Source
Disposition Limit means, in respect of the period from the date of the then most recent determination or redetermination of the Borrowing Base Limit, 5% of such then most recent Borrowing Base Limit.
View Source
Disposition Limit shall have the meaning specified in paragraph 6J.
View Source

Examples of Disposition Limit in a sentence

  • All Asset Dispositions during any fiscal year shall be applied first to reduce the applicable Annual Asset Disposition Limit for such fiscal year and then to reduce the carry-forward from the previous fiscal year, if any.

  • The Borrower has requested and the Agent has agreed in the exercise of its Permitted Discretion to increase the Permitted Equipment Disposition Limit, as defined in the Credit Agreement, to 19.0%.

  • If the Disposition Proceeds exceed the Disposition Limit, the Company shall be required to make an offer to prepay Notes in an amount equal to all Disposition Proceeds (less the Bank Allocation Amount) pursuant to paragraph 4F (a "Proceeds Payment Offer") with a Debt Reduction Prepayment Date occurring no later than 65 days after the date the Disposition Limit is exceeded.

  • The parties hereto agree, however, that until such time that no Commercial Paper Notes are Outstanding, the number of Vehicles sold or disposed of during any month shall not exceed the Fleet Disposition Limit unless the aggregate Disposition Proceeds from such sales or dispositions exceed the aggregate Net Book Value of all Vehicles sold or disposed of during such month (such Net Book Value to be measured for each Vehicle as of the date such Vehicle was sold or disposed of).


More Definitions of Disposition Limit

Disposition Limit. In addition to the Borrower's covenants found in Schedule A, the Borrower will not sell, convey or otherwise dispose of any of its Proved Producing Reserves or related facilities, other than in the normal course of business and on arm's length terms, provided that, if cumulative proceeds of all dispositions to be received by the Borrower exceed $500,000 in any calendar year, such proceeds will be used to permanently repay the Principal Indebtedness, unless other arrangements are made with CIBC.
View Source