Operating Facility definition

Operating Facility means the credit facility in the maximum principal amount of Cdn.$25,000,000 or the Equivalent Amount thereof in United States Dollars to be made available to the Borrower by the Operating Lender in accordance with the provisions hereof, subject to any reduction in accordance with the provisions hereof.

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Operating Facility means the loan facility of Western which consists of a committed operating facility in the amount of $10 million;

Operating Facility means a gas station actively selling fuel to the public, a fleet fueling facility used to actively fuel fleet vehicles, or a facility where emergency power generators are being used. “Operating facility” does not include any other type of facility, such as a car wash or other business that does not routinely sell fuel to the public, or is not routinely used for fleet fueling, or is not routinely used for emergency power generation. A facility that has not been used to sell fuel to the public, or fuel fleet vehicles, or power emergency generators for a period of 12 months or more is not considered an “operating facility.”

Examples of Operating Facility in a sentence

• The Agent (or, with respect to an Operating Facility, the applicable Operating Lender on behalf of the Agent) shall enter in the foregoing accounts details of all amounts from time to time owing, paid or repaid by the Borrowers hereunder.

• The Agent (or, with respect to an Operating Facility, the applicable Operating Lender on behalf of the Agent) shall open and maintain books of account evidencing all Loans and all other amounts owing by a Borrower to the Lenders hereunder.

• After a request by a Borrower, the Agent (or, with respect to an Operating Facility, the applicable Operating Lender on behalf of the Agent) shall promptly advise such Borrower of such entries made in the Agent’s books of account.

• The Canadian Borrower shall use reasonable commercial efforts to negotiate with such beneficiary to replace any Existing Fronted Canadian LCs with a new Fronted LC or a Letter of Credit under the Canadian Operating Facility.

More Definitions of Operating Facility

Operating Facility means the Credit Facility described in Section 2.1(a) of this Agreement.

Operating Facility means either of such credit facilities.

Operating Facility has the meaning specified in Section 2.1.1(a).

Operating Facility means any facility or financial accommodation (including, without limitation, any overdraft or other current account facility, any foreign exchange facility, any guarantee, bonding, documentary or standby letter of credit facility, any credit card or automated payments facility, any short term loan facility and any derivatives facility) provided to a member of the Group by an Operating Facility Lender which is notified to the Security Agent by the Parent in writing as a facility or financial accommodation to be treated as an “Operating Facility” for the purposes of this Agreement.

Operating Facility means the operating credit facility established by Section 2.1(a)(ii);

Operating Facility means any facility or financial accommodation (including, without limitation, any overdraft or other current account facility, any foreign exchange facility, any guarantee, bonding, documentary or standby letter of credit facility, any credit card or automated payments facility, any short-term loan facility, any derivatives facility, any cash pooling arrangement or other cash management arrangement, chequing or note encashment facility) provided to a member of the Group by an Operating Facility Lender which is notified to the Security Agent by the Parent in writing as a facility or financial accommodation to be treated as an "Operating Facility" for the purposes of this Agreement. A44420063

Operating Facility means the Operating Facility established from time to time in favour of the Borrower by the Operating Lender pursuant to Section 2.2.