Overadvance Facility Request definition

Overadvance Facility Request means a written request by Borrower for an increase of the Overadvance Facility, which notice shall indicate the amount requested, the current balance of the Overadvance Availability after giving effect to such notice and the amount of the Excess Availability covenant set forth in Section 14(d) hereof after giving effect to such notice. Each Overadvance Facility Request shall be no less than $500,000 and in $500,000 increments above such amount. The Overadvance Facility Requests shall not aggregate more than $11,000,000.
Sample 1

Examples of Overadvance Facility Request in a sentence

  • Borrower shall maintain at all times Excess Availability of $7,500,000; provided that such amount shall be automatically reduced by 50% of the amount of any Overadvance Facility requested by Borrower pursuant to an Overadvance Facility Request, but shall in no event be less than $2,000,000.

Related to Overadvance Facility Request

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Revolving Advance has the meaning given in Section 2.1.

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans of the same Class.

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Advance Facility Notice As defined in Section 3.22.

  • Overadvance has the meaning set forth in Section 2.5.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Advance Facility As defined in Section 3.22.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Swing Line Facility means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Committed Advance means an advance made by a Lender to a Borrower as part of a Committed Borrowing and refers to a Base Rate Advance or a Eurodollar Rate Committed Advance, each of which is a “Type” of Committed Advance.

  • Eligible Facilities Request means any request for modification of an existing tower or base station that does not substantially change the physical dimensions of such tower or base station, involving:

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

  • ABR Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).