MEC Loans definition

MEC Loans means "Loans" under and as defined in the MEC Credit and Reimbursement Agreement.
View Source

Examples of MEC Loans in a sentence

  • If Consolidated Debt exceeds the Approved Borrowing Base as a result of the incurrence of MEC Reimbursement Obligations and/or MEC Loans, the Borrowers shall, on the date which is 60 days following the date of such incurrence, prepay Loans in an aggregate principal amount equal to the amount, if any, by which Consolidated Debt exceeds the Approved Borrowing Base on such date of prepayment (excluding any Permitted Shortfall which is subject to prepayment pursuant to the immediately preceding sentence).

  • If Consolidated Debt exceeds the Approved Borrowing Base other than as a result of (i) a determination of the Approved Borrowing Base resulting in a reduction thereof or (ii) the incurrence of MEC Reimbursement Obligations and/or MEC Loans, the Borrowers shall immediately prepay Loans in an aggregate principal amount equal to the amount of such excess until such excess has been reduced to zero (whether such reduction results from such prepayments, from other reductions in Consolidated Debt or otherwise).

Related to MEC Loans

  • Revolving Loans as defined in Section 2.4(a).

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • U.S. Revolving Loans has the meaning specified therefor in Section 2.1(b).

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.