Outstanding Credit definition

Outstanding Credit means, on any date, the sum of (a) the aggregate outstanding Letter of Credit Exposure on such date including the Letter of Credit Exposure attributable to Letters of Credit to be issued on such date, plus (b) the aggregate outstanding principal balance of the Revolving Loan on such date, including the amount of any Borrowing to be made on such date.

Outstanding Credit means, at any particular time, the sum of (a) the outstanding principal amount of the Loans, plus (b) the Letter of Credit Liabilities.

Outstanding Credit means, at any time of determination, the aggregate amount of Advances then outstanding.

Examples of Outstanding Credit in a sentence

• If any Lender, whether by setoff or otherwise, has payment made to it upon its Outstanding Credit Exposure (other than payments received pursuant to Section 3.1, 3.2, 3.4 or 3.5) in a greater proportion than that received by any other Lender, such Lender agrees, promptly upon demand, to purchase a portion of the Aggregate Outstanding Credit Exposure held by the other Lenders so that after such purchase each Lender will hold its Pro Rata Share of the Aggregate Outstanding Credit Exposure.

• If any Lender, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for its Obligations or such amounts which may be subject to setoff, such Lender agrees, promptly upon demand, to take such action necessary such that all Lenders share in the benefits of such collateral ratably in proportion to their respective Pro Rata Shares of the Aggregate Outstanding Credit Exposure.

• The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Outstanding Credit Exposure under the applicable assignment agreement constitutes “plan assets” as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be “plan assets” under ERISA.

• The amount of the assignment shall be based on the Commitment or Outstanding Credit Exposure (if the Commitment has been terminated) subject to the assignment, determined as of the date of such assignment or as of the “Trade Date,” if the “Trade Date” is specified in the assignment.

• The assignment shall contain a representation by the Purchaser to the effect that none of the consideration used to make the purchase of the Commitment and Outstanding Credit Exposure under the applicable assignment agreement constitutes "plan assets" as defined under ERISA and that the rights and interests of the Purchaser in and under the Loan Documents will not be "plan assets" under ERISA.

More Definitions of Outstanding Credit

Outstanding Credit means, at any time of determination, the aggregate amount of Advances then outstanding under this Fifth Supplement and the Revolving Line of Credit Note.

Outstanding Credit means an amount equal to the sum of the total Revolving Exposures plus the aggregate Dollar Equivalent principal amount of outstanding Competitive Loans.

Outstanding Credit means, at any time of determination, the sum of the aggregate amount of Advances pursuant to the Revolving Line of Credit then outstanding.

Outstanding Credit means, on any date, the sum of (a) the aggregate outstanding Letter of Credit Exposure on such date, including the Letter of Credit Exposure attributable to Letters of Credit to be issued on such date, plus (b) the aggregate outstanding principal balance of the Loan on such date, including the amount of any Borrowing to be made on such date.

Outstanding Credit means the sum of: (i) the outstanding principal amount under the Line of Credit Note; and (ii) the aggregate face amount of all Term Notes.

Outstanding Credit means, on any date, the sum of (a) the aggregate outstanding Letter of Credit Exposure on such date including the aggregate Letter of Credit Exposure related to Letters of Credit to be issued on such date, plus (b) the aggregate outstanding principal balance of all Loans on such date, including the outstanding principal balance of all Loans to be made on such date.

Outstanding Credit means, at the date of determination, the sum of the following: (a) the sum of the aggregate outstanding principal amount of Advances as of such date, plus (b) the outstanding Letter of Credit Liabilities as of such date, plus (c) all fixed and contingent liabilities outstanding as of such date in respect of the letters of credit issued pursuant to the provisions set forth in subsection 7.02(b)(xi) and, prior to the Closing Date, pursuant to the provisions set forth in subsection 7.02(b)(xi) of the First Amended Credit Agreement, Subsection 7.02(b)(xi) of the Second Amended Credit Agreement and Subsection 7.02(b)(xi) of the Third Amended Credit Agreement,, and prior to February 8, 1994, pursuant to the provisions of subsection 7.02(b)(ix) of the Original Credit Agreement.