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

Agent may require UK Lenders to fund UK Revolver Loans that cause or constitute a UK Overadvance as long as the total UK Overadvance does not exceed 10% of the UK Line Cap and does not constitute a UK Overadvance for more than 30 consecutive days without the consent of the UK Required Lenders.
Subject to the terms and conditions of this Agreement, Lender agrees to make one or more Loans to Borrowers from time to time from the Closing Date until the Termination Date in an aggregate principal amount at any time outstanding up to but not exceeding the amount of the Commitment, provided that the aggregate amount of all Loans at any time outstanding plus all outstanding Letter of Credit Liabilities shall not exceed the Line Cap.
In no event shall US Lenders have any obligation to honor a request for a US Revolver Loan if US Revolver Usage at such time plus the requested US Revolver Loan would exceed the US Line Cap.
UK Availability: the Dollar Equivalent of the UK Line Cap minus UK Revolver Usage.
Agent may require US Lenders to fund US Base Rate Loans that cause or constitute a US Overadvance and to forbear from requiring US #530954217_v1 Borrowers to cure a US Overadvance, as long as the total US Overadvance does not exceed 10% of the US Line Cap and does not constitute a US Overadvance for more than 30 consecutive days without the consent of US Required Lenders.

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 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 time, the lesser of the Aggregate Revolving Commitment and the Revolving Borrowing Base.

Line Cap means, at any time, the lesser of (i) the Revolving Credit Maximum Amount and (ii) the Borrowing Base.

Line Cap means, at any time, the lesser of (a) the Borrowing Base and (b) the Total Revolving Credit Commitments, in each case as in effect at such time.

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