Drawable Amount definition

Drawable Amount means, with respect to any Liquidity Facility on any date, the aggregate amount that is drawable by the borrower thereunder on such date to fund working capital and general corporate purposes of NEXT (directly or pursuant to an unrestricted distribution thereof to NEXT) without breaching any financial or other covenants that may be applicable thereunder.
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Examples of Drawable Amount in a sentence

  • A Fee will be paid by the Reimbursement Obligor to the LC Issuer semi-annually, in advance, beginning on the Closing Date, in the amount of [ ]% of the Drawable Amount for the subsequent semi-annual period.

  • The Revolving Credit, the ------------------------- principal balance of which shall not at any time exceed the lesser of: (i) the then current value of the hereinafter referenced Borrowing Base, or (ii)(A) $6,400,000.00 minus (B) the Maximum Drawable Amount, shall be advanced or readvanced or extended to or for the benefit of Debtor by advances or readvances made by Bank to Debtor.

  • All amounts from time to time outstanding and (if all drawing conditions were satisfied) available to be drawn under any and all of the Letters of Credit in the aggregate (the "Maximum Drawable Amount") shall reduce the amounts otherwise available under the Revolving Credit.