Over Line definition

Over Line shall have the meaning set forth in Section 2.1 and 3.1 of this Agreement.
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Over Line means an amount equal to the amount by which the aggregate principal amount of the Aggregate Loan Obligations has caused a breach of the LTV Financial Covenant. “Paid in Full,” “Pay in Full,” “Payment in Full” (and words of similar import) means: (i) with respect to the Obligations, or any portion thereof, and except as provided in clause (ii) below, the full payment thereof, including any interest, fees, premiums (including any applicable Exit Fee) and other charges and charges thereon (including any thereof accruing during an Insolvency Proceeding, whether or not allowed in such proceeding), in immediately available collected funds; plus (ii) in connection with the payment of all, or substantially all, Obligations, the release of all Claims of all Credit Parties against Agent, and the Lenders arising on or before the full payment date in respect of such Obligations. “Performance Deed of Trust” means that certain “Performance Deed of Trust” recorded as instrument number 20221205-0000450 on December 5, 2022 with the Clark County Recorder’s office in the State of Nevada in connection with securing “Obligations” as defined therein. “parent,” in relation to any Credit Party or Subsidiary, is a Person that owns or Controls at least fifty percent (50%) of the issued and outstanding Voting Equity Interests of such Subsidiary, either directly or indirectly. “Participant” shall have the meaning set forth in Section 13.1(d). “Participant Register” shall have the meaning set forth in Section 13.1(d). “PATRIOT Act” means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001). “Payment Item” means each check, draft, or other item of payment payable to a Credit Party, including those constituting Proceeds of any Collateral. “PBGC” means the Pension Benefit Guaranty Corporation. “Pension Plan” means any employee pension benefit plan (as such term is defined in Section 3(2) of ERISA), other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or
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Over Line. As defined in Section 2.1.
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Examples of Over Line in a sentence

  • Principal of the Over Line Note shall be payable in full on the Over Line Maturity Date, PROVIDED, HOWEVER, Borrower shall make a mandatory prepayment of the entire amount of the Over Line on the Over Line Mandatory Prepayment Date.

  • Amounts prepaid on the Over Line Note under this Section may be reborrowed upon the terms and subject to the conditions and limitations of this Agreement.

  • Any request by the Borrower for an Advance on the Revolving Loan or the Over Line shall be in writing or by telephone and must be given so as to be received by the Lender not later than 10:30 a.m. (local time of the Lender) on the requested Advance date.

  • Any Over Line shall (A) constitute Obligations secured by the Collateral; and (B) be entitled to all benefits of the Loan Documents (including interest, fees and costs).

  • If, at any time for any reason such Maximum Credit Limited is exceeded or if any Maximum Sublimit on any subcomponent of the Credit, as provided in the Loan Term Sheet, is exceeded, then Borrower shall immediately pay to Bank, in cash, the amount by which such Maximum Credit Limit or Maximum Sublimit is exceeded ("Over Line").

  • The Borrower may prepay the Over Line Note, in whole or in part, at any time, without premium or penalty.

  • The Advances on the Over Line shall be evidenced by a single promissory note (the "Over Line Note"), substantially in the form of Exhibit 2.3 (c) hereto, in the amount of the Over Line Commitment Amount originally in effect.

  • The Lender shall enter in its ledgers and records the payments made on the Term Loan, the Advances and the Over Line Advances made and the payments made thereon, and the Lender is authorized by the Borrower to enter on schedules attached to the Notes a record of such Advances, Over Line Advances and repayments.

  • Bank may, in its sole discretion, elect to treat an L/C and/or B/A Over Line as an advance under the Credit.

  • If, at any time and for any reason, the total of the undrawn amount of all Letters of Credit or the total of all outstanding banker’s acceptances exceeds the Maximum Sublimit provided in the Loan Term Sheet (“L/C Over Line” or “B/A Over Line”), Borrower shall immediately pay to Bank, in cash, the amount of such L/C and/or B/A Over Line.


More Definitions of Over Line

Over Line means an amount equal to the amount by which the aggregate principal amount of the Aggregate Term Loan Obligations (other than the outstanding principal amount of the Bridge Loan) exceeds the amount of the Borrowing Base (if any).
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