Permitted Initial ABL Borrowing Purposes definition

Permitted Initial ABL Borrowing Purposes means (a) one or more Borrowings of Revolving Loans to pay for Transaction Expenses, and (b) the issuance of Letters of Credit in replacement of, or as a backstop for, letters of credit of Holdings, the Borrower or any of the Restricted Subsidiaries outstanding on the Effective Date.
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Examples of Permitted Initial ABL Borrowing Purposes in a sentence

  • Use the proceeds of the Loans only in compliance with (and not in contravention of) applicable Laws and each Loan Document and, in respect of the Initial ABL Borrowing, use the proceeds in accordance with the Permitted Initial ABL Borrowing Purposes.

  • The proceeds of the Initial ABL Borrowings have been or will be used in accordance with the Permitted Initial ABL Borrowing Purposes.

  • Use the proceeds of any Borrowing, whether directly or indirectly, in a manner inconsistent with the uses set forth in the preliminary statements to this Agreement or the Initial ABL Borrowing in a manner inconsistent with the Permitted Initial ABL Borrowing Purposes.

Related to Permitted Initial ABL Borrowing Purposes

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

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

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

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

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

  • Eurodollar Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Incremental Loans has the meaning assigned to such term in Section 2.22(a).

  • Refinancing Term Commitments means one or more term loan commitments hereunder that fund Refinancing Term Loans of the applicable Refinancing Series hereunder pursuant to a Refinancing Amendment.

  • Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • First Lien Term Loans means the “Term Loans” as defined in the First Lien Credit Agreement.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Tranche B Term Loans means Loans made or deemed made by the Tranche B Term Lenders pursuant to Section 2.01(b) or pursuant to Section 1 of the First Amendment to 2009 Credit Agreement.

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Agent and the Borrower, among the Borrower, the Agent and one or more Incremental Lenders, establishing Incremental Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.18.

  • Refinancing Term Loans means one or more Classes of Term Loans hereunder that result from a Refinancing Amendment.

  • Second Lien Term Loans means the “Term Loans” (or any comparable term) as defined in the Second Lien Credit Agreement.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Incremental Revolving Loan has the meaning set forth in Section 2.14(b).

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).