Limit definition
Examples of 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, unless terminated in whole, the Facility Limit shall in no event be reduced below $100,000,000.
If PNC is a Committed Purchaser (and is not a Defaulting Purchaser) at the time of such request, the Seller shall request that PNC’s Commitment be increased such that PNC’s Commitment, expressed as a percentage of the Facility Limit, does not decrease as a result of the Seller’s requested increase in the Facility Limit, and PNC shall have the right (but no obligation) to increase its Commitment by such amount.
If the Seller elects to increase the Facility Limit in accordance with this clause (g), the Seller shall pay to each Purchaser an “Accordion Closing Fee” as set forth in the Fee Letter on the relevant Facility Increase Effective Date.
For the adoption of the borrower’s autonomous payment method, the borrower shall submit the Limit Usage Application Form, a description of the use of funds, and other materials required by the lender to the lender.
If otherwise agreed for a certain loan, the number of basis points to be added (subtracted) for the increased interest rate of that loan shall be subject to the record in the applicable Limit Usage Application Form.