Permitted Credit definition
Examples of Permitted Credit in a sentence
The foregoing restriction will not prohibit the issuance of Guarantees by any of the Company’s Subsidiaries in respect of Permitted Credit Agreement Debt.
Each of the parties hereto hereby agrees that, upon the effectiveness of any Permitted Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Permitted Credit Agreement Refinancing Indebtedness incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Permitted Refinancing Loans and/or Permitted Refinancing Commitments).
Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Permitted Credit Agreement Refinancing Debt incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Other Term Loans, Other Revolving Loans, Other Revolving Commitments and/or Other Term Commitments).
Each issuance of Permitted Credit Agreement Refinancing Indebtedness under Section 2.15(a) shall be in an aggregate principal amount that is not less than $10,000,000, and an integral multiple of $1,000,000 in excess thereof.
A Credit Limit Endorsement means an endorsement issued by the Insurer and specifies the approved Permitted Credit Limit in respect of the named Insured Buyer or specifies that the Permitted Credit Limit is “Nil’ or “0” reflecting that no cover is available.
Any Lender or Affiliate thereof obtaining the benefit of the foregoing guaranty with respect to Other Permitted Credit Exposure shall remain a Guarantied Party hereunder with respect to such Other Permitted Credit Exposure only for so long as such Lender remains a Lender under this Agreement.
The Permitted Credit Limits under the Policy, any other limits or deductibles, premiums, Limit Management Charges and any Other Charges are expressed in the Policy Currency, and such amounts will not vary according to changes in the exchange rate between the Policy Currency and any other currency, unless the Insurer has expressly given its prior written consent.
Insured Buyer means any customer of the Insured which is domiciled in an Approved Country for whom the Insured has a Permitted Credit Limit during the Policy Period.
The Insurer’s liability under this Policy shall not be additional to any benefit to which the Insured may be entitled under a previous policy of insurance, whether the insurer of that previous policy was the Insurer or another insurer and the Insurer’s liability under this Policy will be limited to the Permitted Credit Limit less any amount still owing for goods Shipped and/or covered under that previous policy.
Each of the parties hereto hereby agrees that, upon the effectiveness of any Refinancing Amendment, this Agreement shall be deemed amended to the extent (but only to the extent) necessary to reflect the existence and terms of the Permitted Credit Agreement Refinancing Debt incurred pursuant thereto (including any amendments necessary to treat the Loans and Commitments subject thereto as Other Term Loans and/or Other Term Commitments).