Maximum Undrawn Amount definition
Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.
Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “Minimum Liquidity” means, at any time during the Minimum Liquidity Period, an amount of Liquidity equal to at least the sum of (1) the then outstanding principal amount of the 2025 Convertible Notes plus (2) $75,000,000. “Minimum Liquidity Period” means the 91-day period prior to the 2025 Convertible Notes Termination Date. “Multiemployer Plan” shall mean a Plan that is a “multiemployer plan” as defined in Sections 3(37) and 4001(a)(3) of ERISA. “Multiple Employer Plan” shall mean a Plan that has two or more contributing sponsors (including any Loan Party or any member of the Controlled Group) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. “Net Cash Proceeds” means, with respect to the sale or disposition of any asset by a Person or a Casualty Event, the sum of cash and Cash Equivalent received by such Person in connection with such sale, disposition, or Casualty Event less (i) the reasonable fees, commissions, and expenses related thereto and required to be paid by such Person in connection with such sale or disposition, less (ii) all taxes paid or reasonably estimated to be payable in connection with such sale or disposition to the extent, but only to the extent, that the amounts so deducted are, at the time of receipt of such cash, actually paid or payable to a Person that is not an Affiliate of any Loan Party or any of its Subsidiaries, and are properly attributable to such transaction, less (iii) any reserve for adjustment in respect of (x) the sale price of the property that is the subject of such sale or disposition established in accordance with GAAP and (y) any liabilities associated with such property or asset and retained by such Person after such sale or disposition, to the extent that in each case the funds described above in this clause (iii) are (x) deposited into escrow with a third party escrow agent and (y) paid to Agent as a prepayment of the applicable Obligations in accordance with Section 2.14 of this Agreement at such time when such 26
Maximum Undrawn Amount means, with respect to any outstanding Letter of Credit as of any date, the amount of such Letter of Credit that is or may become available to be 40 074658.21069/130240014v.3
Examples of Maximum Undrawn Amount in a sentence
The Maximum Undrawn Amount of all outstanding Letters of Credit shall not exceed in the aggregate at any time the Letter of Credit Sublimit.
Notwithstanding anything to the contrary contained in the foregoing or otherwise in this Agreement, the outstanding aggregate principal amount of Swing Loans and the Revolving Advances at any one time outstanding shall not exceed an amount equal to the lesser of (i) the Maximum Revolving Advance Amount less the Maximum Undrawn Amount of all outstanding Letters of Credit less Reserves established hereunder or (ii) the Formula Amount.
In the event Agent involuntarily permits the outstanding Revolving Advances and Maximum Undrawn Amount, in the aggregate, to exceed the Formula Amount by more than ten percent (10%), Agent shall use its efforts to have Borrowers decrease such excess in as expeditious a manner as is practicable under the circumstances and not inconsistent with the reason for such excess.
More Definitions of Maximum Undrawn Amount
Maximum Undrawn Amount means, with respect to any outstanding Letter of Credit as of any date, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “Modified Commitment Transfer Supplement” shall have the meaning set forth in Section 16.3(d) hereof. “Multiemployer Plan” shall mean a “multiemployer plan” as defined in Sections 3(37) or 4001(a)(3) of ERISA to which contributions are required or, within the preceding five plan years, were required by any Loan Party or any member of the Controlled Group. “Multiple Employer Plan” shall mean a Plan which has two or more contributing sponsors (including any Loan Party or any member of the Controlled Group) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. “Non-Defaulting Lender” shall mean, at any time, any Lender holding a Revolving Commitment that is not a Defaulting Lender at such time.
Maximum Undrawn Amount means, with respect to any outstanding Letter of Credit as of any date, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “Merger” as defined in the Recitals hereto. “Merger Agreement” means the Agreement and Plan of Merger dated as of June 5, 2018, among Holdings, Merger Sub, BCP QualTek Management, LLC, the Acquired Company, ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇, as representative for the investors set forth on Schedule A-1 thereto, and ▇. ▇▇▇▇▇ ▇▇▇▇▇, as representative for the individuals set forth on Schedule A-2 thereto, together with the schedules, exhibits and other definitive documentation relating thereto. “Merger Sub” as defined in the preamble hereto. “Merger Transactions” means, collectively, (a) the Merger, (b) the Specified Tuck-In Acquisitions and (c) the other transactions contemplated by the Merger Agreement to occur on the Closing Date. “Minimum Collateral Amount” means, at any time, (a) with respect to Cash Collateral consisting of Cash or deposit account balances, an amount equal to 103% of the Fronting Exposure of the applicable Issuing Bank with respect to Letters of Credit issued by such Issuing Bank and outstanding at such time and (b) otherwise, an amount determined by the Administrative Agent and the applicable Issuing Bank in their sole discretion. “Moody’s” means ▇▇▇▇▇’▇ Investors Service, Inc., or any successor to its rating agency business. “Mortgage” means a mortgage, charge, debenture, deed of hypothec, deed of trust, assignment of leases and rents or other security document granting a Lien on any Material Real Estate Asset in favor of the Collateral Agent, for the benefit of the Secured Parties, as security for the Obligations. Each Mortgage shall be in form and substance reasonably satisfactory to the Collateral Agent and the Borrower. “Mortgage Policy” as defined in the definition of “Collateral and Guarantee Requirement”. DMFIRM #406105327 v12 59
Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn (whether or not any of the circumstances permitting the beneficiary to so draw exist at the time of determination), including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “Modified Commitment Transfer Supplement” shall have the meaning set forth in Section 16.3(d) hereof.
Maximum Undrawn Amount means with respect to any outstanding Letter of Credit and Air Release/Steamship Guarantees, the amount of such Letter of Credit or Air Release/Steamship Guarantee that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit or Air Release/Steamship Guarantee, whether or not any such automatic increase has become effective.
Maximum Undrawn Amount means, with respect to any outstanding Letter of Credit as of any date, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. “MLP” means AmeriGas Partners, L.P., a Delaware limited partnership. “Modified Commitment Transfer Supplement” shall have the meaning set forth in Section 16.3(d) hereof. “Multiemployer Plan” shall mean a “multiemployer plan” as defined in Section 3(37) or 4001(a)(3) of ERISA to which contributions are required or, within the preceding five plan years, were required by any Loan Party or any member of the Controlled Group. “Multiple Employer Plan” shall mean a Plan which has two or more contributing sponsors (including any Loan Party or any member of the Controlled Group) at least two of whom are not under common control, as such a plan is described in Section 4063 or 4064 of ERISA. “New Lender” shall have the meaning set forth in Section 2.24(a) hereof. “Non-Defaulting Lender” shall mean, at any time, any Revolving Lender that is not a Defaulting Lender at such time. “Non-Qualifying Party” shall mean any Loan Party that on the Eligibility Date fails for any reason to qualify as an Eligible Contract Participant. 33 074658.00041/136182926v.3 074658.00041/152601366v.3 074658.00041/136182926v.6 074658.00041/136182926v.7 074658.00041/136182926v.10 074658.00041/150851455v.1 074658.00041/150851455v.4
Maximum Undrawn Amount means with respect to any outstanding Letter of Credit, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective. "Minimum Availability Threshold" at a particular date shall mean that (i) prior to such date, Undrawn Availability has not been less than Five Million Dollars ($5,000,000) for five (5) consecutive days or more, or (ii) in the event that Undrawn Availability has been less than Five Million Dollars ($5,000,000) for five (5) consecutive days or more, then subsequent to such period the Borrowers have maintained the Restoration Threshold.
Maximum Undrawn Amount means, with respect to any outstanding Letter of Credit issued for the account of a Borrower, the amount of such Letter of Credit that is or may become available to be drawn, including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.” “‘Reimbursement Date’ has the meaning specified therefor in Section 3.04.” “‘Reimbursement Obligations’ has the meaning specified therefor in Section 3.04.”