Examples of Facility Limit in a sentence
Each partial reduction in the Facility Limit shall be in a minimum aggregate amount of $5,000,000 or integral multiples of $1,000,000 in excess thereof, and no such partial reduction shall reduce the Facility Limit to an amount less than $35,000,000.
Facility Limit OutstandingWarehouse credit facilities$535,000,000$204,844,200Purchase participation facility 225,000,000 99,448,303 Under the terms of these credit lines, the Company is required to maintain various financial and other covenants.
The Borrower may, at any time upon at least thirty (30) days’ prior written notice to the Administrative Agent and each Lender, terminate the Facility Limit in whole or ratably reduce the Facility Limit in part.
The Seller shall maintain Aggregate Capital equal to or greater than an amount that is equal to the lesser of (a) sixty-six and sixty-seven hundredths percent (66.67%) of the Facility Limit at such time and (b) the Capital Coverage Amount at such time.
Under no circumstances shall any Lender be obligated to make any such Loan if, after giving effect to such Loan: the Aggregate Loan Amount would exceed the Facility Limit at such time; the aggregate outstanding Loan Amount of such Lender would exceed its Commitment; or the Aggregate Loan Amount would exceed the Borrowing Base at such time.