Examples of Overall Sublimit in a sentence
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In addition to the applicability of the Overall Sublimit, the aggregate amount of any new FX Reserve arising from the proposed issuance of any new FX Forward Contract may not exceed the then applicable Availability Amount.
In no event shall the total amount of (i) outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve), and (ii) the FX Reserve, and (iii) the amount of the Revolving Line utilized for Cash Management Services, at any time exceed $1,000,000 in the aggregate (the "Overall Sublimit").
During a Streamline Period, Borrower may not request any Advances, and Bank shall have no obligation to make any Advances, but Borrower may utilize the Letter of Credit facility under Section 2.1.2 below, the FX Forward Contract facility under Section 2.1.3 below, and the Cash Management Services facility under Section 2.1.4 below, subject to the limitations therein set forth and subject to the Overall Sublimit in Section 2.1.5 below.
FX Forward Contracts shall have a Settlement Date of at least one (1) FX Business Day after the contract date and shall be subject to a reserve of ten percent (10%) of each outstanding FX Forward Contract in a maximum aggregate amount equal to $10,000,000 (the "FX Reserve"), subject to the Overall Sublimit.
The aggregate amount available to be used for the issuance of Letters of Credit is Two Million Five Hundred Thousand Dollars ($2,500,000) (the “LC Sublimit”), subject to the Overall Sublimit in Section 2.1.5 below, and in addition may not exceed the Availability Amount.
Subject to the Overall Sublimit in Section 2.1.5 below, Borrower may use up to $2,000,000 (the “Cash Management Services Sublimit”) of the Availability Amount for Bank’s cash management services which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”).
Borrower may use up to $10,000,000 (the "Cash Management Services Sublimit") of the Revolving Line, subject to the Overall Sublimit for Bank's cash management services which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank's various cash management services agreements (collectively, the "Cash Management Services").
Contract Sublimit $1,000,000, subject to the Overall Sublimit (as defined below).
Subject to the Overall Sublimit in Section 2.1.5 below, Borrower may use up to Two Million Five Hundred Thousand Dollars ($2,500,000) (the “CMS Sublimit”) of the Revolving Line for Bank’s cash management services which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”).