Maximum Revolving Credit definition

Maximum Revolving Credit means, at any time, the lesser of (i) the Borrowing Base at such time and (ii) the aggregate amount of Commitments in effect at such time.

Maximum Revolving Credit. Amount shall mean, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Revolving Credit Amounts” (as the same may be reduced pursuant to Section 2.03(b) pro rata to each Lender based on its Percentage Share), as modified from time to time to reflect any assignments permitted by Section 12.05

Maximum Revolving Credit means as of any date, the lesser of (i) the Revolving Credit Commitment, or (ii) the Borrowing Base.

Examples of Maximum Revolving Credit in a sentence

• Notwithstanding anything in this Agreement to the contrary, in no event shall the aggregate principal Revolving Credit Obligations exceed the Maximum Revolving Credit Amount.

• The Loans made by each Lender shall be evidenced by a single promissory note of the Borrower in substantially the form of Exhibit A dated (i) the Closing Date or (ii) the effective date of an Assignment pursuant to Section 12.06(b), payable to the order of such Lender in a principal amount equal to its Maximum Revolving Credit Amount as originally in effect and otherwise duly completed and such substitute Notes as required by Section 12.06(b).

• In no event shall the Proposed Borrowing Base exceed the Aggregate Maximum Revolving Credit Amounts.

• After giving effect to this Amendment, the Maximum Revolving Credit Amounts, outstanding Loans, risk relating to outstanding Letters of Credit, and Percentage Share of the Lenders are as set forth on Annex I hereto.

• If at any time the Aggregate Maximum Revolving Credit Amounts or the Borrowing Base is terminated or reduced to zero, then the Revolving Credit Commitments shall terminate on the effective date of such termination or reduction.

More Definitions of Maximum Revolving Credit

Maximum Revolving Credit. Amount shall mean, as to each Lender, the dollar amount of such Lender’s Percentage Share of the Aggregate Maximum Revolving Credit Amount (as the same may be reduced pursuant to Section 2.03(d) pro rata to each Lender based on its Percentage Share), as modified from time to time to reflect any assignments permitted by Section 12.06(b). Mortgage shall mean any one of the mortgages listed on Exhibit D hereto, and Mortgages means all of them. Mortgaged Property shall mean the Property owned by the Obligors and which is subject to the Liens existing and to exist under the terms of the Security Instruments. Multiemployer Plan shall mean a Plan defined as such in Section 3(37) or 4001(a)(3) of ERISA. Notes shall mean the Notes provided for by Section 2.06, together with any and all renewals, extensions for any period, increases, rearrangements, substitutions or modifications thereof. Oil and Gas Properties shall mean Hydrocarbon Interests; the Properties now or hereafter pooled or unitized with Hydrocarbon Interests; all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; all operating agreements, contracts and other agreements which relate to any of the Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, including all oil in tanks, the lands covered thereby and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; all tenements, hereditaments, appurtenances and Properties in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests; and all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment or other personal property which may be on such premises for the purpose of drilling a well or for other simil...

Maximum Revolving Credit means, at any time, the lesser of (a) the Borrowing Base at such time and (b) the aggregate amount of Commitments in effect at such time.

Maximum Revolving Credit means, at any time, the amount of $190,000,000 as reduced from time to time pursuant to Section 2.5 hereof.

Maximum Revolving Credit is set forth in Section 10.1(a) hereof.

Maximum Revolving Credit means $4,000,000.

Maximum Revolving Credit. Facility" in Section 1.1 of the Loan Agreement is amended to read, in its entirety, as follows:

Maximum Revolving Credit means, on any date, an amount equal to $74,000,000, minus the amount of the Revolving Loans and Letter of Credit Accommodations outstanding under the Pre-Petition Loan Agreement on such date.