Line Cap definition

Line Cap means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount, and (b) the Borrowing Base as of such date of determination.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Line Cap means at any time, the lesser of (i) the Aggregate Commitments and (ii) the then-applicable Borrowing Base.

Line Cap means, as of any date of determination, the lesser of the aggregate Revolving Credit Commitments and the Borrowing Base, each as then in effect.

Examples of Line Cap in a sentence

If amounts are outstanding under the FILO Facility at the time of a Non-FILO Exchange, such amounts up to the applicable Non-FILO Line Cap shall be deemed outstanding under the Non-FILO Facility.
If amounts are outstanding under the Non-FILO Facility at the time of establishment of a FILO Facility, such amounts up to the applicable FILO Line Cap shall be deemed outstanding under the newly-established FILO Facility, and only the excess over the FILO Line Cap shall be deemed thereafter outstanding as Non-FILO Loans.
If for any reason the Total Revolving Outstandings (other than any Overadvances to the extent permitted hereunder) at any time exceed the Line Cap then in effect, Borrowers shall immediately prepay, without premium or penalty, Revolving Loans and Swingline Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess.
Subject to the terms and conditions set forth herein, each FILO Lender agrees to make FILO Loans to the U.S. Borrowers in Dollars following a FILO Exchange Offer and thereafter until the earlier of one Business Day prior to the Maturity Date and the termination of the FILO Commitment of such FILO Lender in an aggregate principal amount that will not result in (i) such FILO Lender’s FILO Exposure exceeding its FILO Commitment and (ii) the aggregate amount of FILO Loans exceeding the FILO Line Cap.
Subject to the terms and conditions hereof and relying upon the representations and warranties herein set forth, each Lender agrees, severally and not jointly, to make Revolving Loans to Borrowers in Dollars from time to time during the Availability Period in an aggregate principal amount that will not result in (i) such L▇▇▇▇▇’s Revolving Exposure exceeding such L▇▇▇▇▇’s Revolving Commitment, or (ii) the Total Revolving Outstandings exceeding the Line Cap.

More Definitions of Line Cap

Line Cap means an amount that is the lesser of (a) the Aggregate Commitments and (b) the then applicable Borrowing Base.

Line Cap means, at any time of determination, the lesser of (a) the Total Commitments or (b) the Combined Borrowing Base.

Line Cap at any time shall mean the lesser of (i) the Total Borrowing Base at such time and (ii) the Total Revolving Commitment at such time.

Line Cap means equal to an amount that is the lesser of (a) the aggregate amount of all Revolver Commitments and (b) the then applicable Borrowing Base.

Line Cap means, at any given time, the lesser of the Maximum Credit and the Borrowing Base then in effect.

Line Cap means, at any time, the lesser of the Aggregate Revolving Commitment and the Revolving Borrowing Base.

Line Cap means at any time, an amount equal to the lesser of (a) the Total Commitments and (b) the Borrowing Base.