Maximum Permitted Balance definition

Maximum Permitted Balance means the maximum amount of principal which may be outstanding on the Credit Facility from time to time which shall be the lesser of: (a) the Maximum Scheduled Balance, or (b) the amount to which the Maximum Scheduled Balance is voluntarily reduced by Borrower pursuant to Section 2.01(c) or is otherwise reduced or limited pursuant to Sections 5.01, 5.12 or 8.02 or by Scheduled Reductions.
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Maximum Permitted Balance means the maximum amount of Aggregate Outstandings which may be outstanding on the Bank Facilities from time to time which shall be the lesser of: (a) the Maximum Scheduled Balance, or (b) the amount to which the Maximum Scheduled Balance is voluntarily reduced by Borrowers pursuant to Section 2.01(c) or is otherwise reduced or limited pursuant to Sections 2.01(d), 5.01, 5.12 or 8.02 or by Scheduled Reductions, and, during the Construction Period, by the amount of undisbursed Retainage.
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Maximum Permitted Balance means the amount of the Aggregate Commitment as may be reduced pursuant to Sections 2.01(c), 5.01 or 8.02 or as may be increased pursuant to Section 2.01(d).
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Examples of Maximum Permitted Balance in a sentence

  • The Maximum Permitted Balance shall immediately be reduced without duplication by the amount of such appraisal.

  • In the event any Scheduled Reduction or Voluntary Reduction reduces the Maximum Permitted Balance to less than the sum of the Funded Outstandings, the Borrowers shall immediately cause the Funded Outstandings to be reduced by such amount as may be necessary to cause the Funded Outstandings to be equal to or less than the Maximum Permitted Balance.

  • Notwithstanding anything herein contained to the contrary, the Maximum Permitted Balance shall be limited to the Availability Limit, as determined from time to time.

  • Other than in connection with: (i) the Scheduled Reductions of principal, or (ii) principal payments which may be required to decrease the Aggregate Outstandings to an amount equal to or less than the Maximum Permitted Balance, Borrowers shall not make repayments ("Principal Prepayments") of the outstanding balance of principal owing under the Revolving Credit Note more frequently than five (5) such Principal Prepayments during each calendar month.

  • During the Revolving Credit Period, Borrowers may borrow, repay and reborrow the Available Borrowings up to the Maximum Permitted Balance from time to time, provided that at all times the Maximum Availability shall be no less than zero (0).

  • Borrowers may borrow, repay and reborrow the Available Borrowings up to the Maximum Permitted Balance from time to time, provided that at all times the Maximum Availability shall be no less than zero (0).

  • Notwithstanding the Scheduled Reductions, principal shall be repaid from time to time as may be necessary to cause the Funded Outstandings to be equal to or less than the Maximum Permitted Balance at all times.

  • Subject to the uses and purposes set forth in Section 2.02, on and after the Closing Date, Borrowers may borrow, repay and reborrow the Available Borrowings up to the Maximum Permitted Balance from time to time; provided further, however, amounts of Funded Outstandings bearing interest with reference to a LIBO Rate shall be subject to Breakage Charges incident to prepayment as provided in Section 2.07(c).

  • The Maximum Permitted Balance shall immediately be reduced without duplication by the amount of the FF&E disposed of, in excess of One Hundred Fifty Thousand Dollars ($150,000.00), as set forth by such appraisal.

  • During the Revolving Credit Period, so long as no default or Event of Default has occurred and remains continuing, Borrower may borrow, repay and reborrow the Available Borrowings up to the Maximum Permitted Balance from time to time, provided that at all times the Maximum Availability shall be no less than zero (0).


More Definitions of Maximum Permitted Balance

Maximum Permitted Balance shall have the meaning as defined in Section 1.01 of the Credit Agreement.
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Maximum Permitted Balance means the maximum amount of Aggregate Outstandings which may be outstanding on the Bank Facilities from time to time which shall be the lesser of:
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Maximum Permitted Balance means the maximum amount of Funded Outstandings which may be outstanding on the Credit Facility from time to time which shall be: (i) during the Preconstruction Period Thirty-Three Million Dollars ($33,000,000.00) plus the amount of Preconstruction Advances, (ii) in the event of Expansion Project Termination, at all times thereafter until Bank Facility Termination, the lesser of: (a) the Maximum Scheduled Balance, as set forth on the Aggregate Commitment Reduction Schedule - Alternate One, or (b) the amount to which the Maximum Scheduled Balance is permanently voluntarily reduced by Borrower pursuant to Section 2.01(c) or is otherwise reduced pursuant to Sections 2.01(d), 5.01, 5.12 or 8.02 or by Scheduled Reductions, and (iii) on and after the Initial Construction Disbursement Date, the lesser of: (a) the Maximum Scheduled Balance, or (b) the amount to which the Maximum Scheduled Balance is permanently voluntarily reduced by Borrower pursuant to Section 2.01(c) or is otherwise reduced pursuant to Sections 5.01, 5.12 or 8.02 or by Scheduled Reductions, and by the amount of undisbursed Retainage, until such Retainage is disbursed in accordance with Section 9.21.
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Related to Maximum Permitted Balance

  • Maximum Permissible Amount The lesser of (i) $30,000 (or, if greater, one-fourth of the defined benefit dollar limitation under Code Section 415(b)(1)(A)), or (ii) 25% of the Participant's Compensation for the Limitation Year. If there is a short Limitation Year because of a change in Limitation Year, the Advisory Committee will multiply the $30,000 (or adjusted) limitation by the following fraction: Number of months in the short Limitation Year --------------------------------------------- 12

  • Maximum Percentage means 4.99%; provided, that if at any time after the date hereof the Holder Group beneficially owns in excess of 4.99% of any class of Equity Interests in the Company that is registered under the Exchange Act (excluding any Equity Interests deemed beneficially owned by virtue of this Warrant or the Note), then the Maximum Percentage shall automatically increase to 9.99% so long as the Holder Group owns in excess of 4.99% of such class of Equity Interests (and shall, for the avoidance of doubt, automatically decrease to 4.99% upon the Holder Group ceasing to own in excess of 4.99% of such class of Equity Interests); and (ii) the term “Holder Group” shall mean the Holder plus any other Person with which the Holder is considered to be part of a group under Section 13 of the Exchange Act or with which the Holder otherwise files reports under Sections 13 and/or 16 of the Exchange Act. In determining the number of Equity Interests of a particular class outstanding at any point in time, the Holder may rely on the number of outstanding Equity Interests of such class as reflected in (x) the Company’s most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, as the case may be, (y) a more recent public announcement by the Company or (z) a more recent notice by the Company or its transfer agent to the Holder setting forth the number of Equity Interests of such class then outstanding. For any reason at any time, upon written or oral request of the Holder, the Company shall, within one (1) Trading Day of such request, confirm orally and in writing to the Holder the number of Equity Interests of any class then outstanding. The provisions of this Section 10 shall be construed, corrected and implemented in a manner so as to effectuate the intended beneficial ownership limitation herein contained.

  • Maximum Permissible Rate means, with respect to interest payable on any amount, the rate of interest on such amount that, if exceeded, could, under Applicable Law, result in (a) civil or criminal penalties being imposed on the payee or (b) the payee's being unable to enforce payment of (or, if collected, to retain) all or any part of such amount or the interest payable thereon.

  • Minimum Percentage means 3% of the number of outstanding shares of common stock of the Corporation as provided in the most recent 1934 Act filing made by the Corporation with the SEC immediately prior to the submission of the Nomination Notice.

  • Permitted Amount means, on any date, an amount equal to 3.5 times Adjusted EBITDA as of the most recent fiscal quarter for which financial statements of the Company are internally available immediately preceding such date.