Limitation on Borrowings definition

Limitation on Borrowings. Notwithstanding any other provision of this Agreement, the aggregate amount of all outstanding borrowings under the Term Commitment shall not at any time exceed a maximum of ninety percent (90%) of the cost of each item of equipment purchased with the proceeds thereof, as evidenced by the sellers invoice."

Examples of Limitation on Borrowings in a sentence

  • Limitation on Borrowings etc (a) The Council shall remain and continue to be solely responsible for all liabilities incurred by it or on its behalf.

  • Article 22 Limitation on Borrowings and Issuance of Corporate Bonds Borrowings and issuance of corporate bonds are limited to 2,000,000,000,000 yen respectively and the aggregate amount thereof shall not exceed 2,000,000,000,000 yen.

  • Limitation on Borrowings (Gearing limit) Implications for the Bank's Funding 3.

  • Subsection (e) of Section 2.1 of Article 2 of the Agreement is deleted and replaced with the following:(e) Limitation on Borrowings.

Related to Limitation on Borrowings

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Borrowings means, at any time, the outstanding principal, capital or nominal amount and any fixed or minimum premium payable on prepayment or redemption of any indebtedness for or in respect of:

  • Total Borrowings means, in respect of the Corporation on a consolidated basis, as of a given date, the aggregate of the following, without duplication:

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Revolving Loans has the meaning set forth in Section 2.1(a).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Revolving Credit Loans as defined in Section 2.1.

  • Subsequent Borrowings has the meaning assigned to such term in Section 2.19.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Lenders pursuant to Section 2.01(b).

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term A Lenders pursuant to Section 2.01(a).

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • New Term Loans as defined in Section 2.24.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • New Revolving Loans as defined in Section 2.25.

  • Other Revolving Credit Loans means one or more Classes of Revolving Credit Loans that result from a Refinancing Amendment.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Swingline Borrowing means a borrowing of a Swingline Loan pursuant to Section 2.04.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans of the same Class.

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans, and (iii) the Letter of Credit Usage.

  • Term Loans means the term loans made by the Term Lenders to the Borrower pursuant to Section 2.01(b).

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.