Permitted Overadvance definition

Permitted Overadvance means an Overadvance made by the Agent, in its discretion, which:
Permitted Overadvance means an Overadvance made by the Administrative Agent, in its discretion, which: (a) is made to maintain, protect or preserve the Collateral and/or the Secured Parties’ rights under the Loan Documents or which is otherwise for the benefit of the Secured Parties; or (b) is made to enhance the likelihood of, or to maximize the amount of, repayment of any Obligation; (c) is made to pay any other amount chargeable to any Loan Party hereunder; and (d) together with all other Permitted Overadvances then outstanding, shall not (i) exceed ten percent (10%) of the Borrowing Base at any time or (ii) unless a Liquidation is occurring, remain outstanding for more than forty-five (45) consecutive Business Days, unless in each case, the Required Lenders otherwise agree; provided, that, the foregoing shall not (A) modify or abrogate any of the provisions of Section 2.03 regarding the Lender’s obligations with respect to Letters of Credit, or (B) result in any claim or liability against the Administrative Agent (regardless of the amount of any Overadvance) for Unintentional Overadvances and such Unintentional Overadvances shall not reduce the amount of Permitted Overadvances allowed hereunder, and provided, that, in no event shall the Administrative Agent make an Overadvance, if after giving effect thereto, the principal amount of the Credit Extensions would exceed the Aggregate Commitments (as in effect prior to any termination of the Commitments pursuant to Section 2.06 hereof).
Permitted Overadvance means an Overadvance made by the Administrative Agent, in its reasonable discretion, which:

Examples of Permitted Overadvance in a sentence

The making of any such Permitted Overadvance on any one occasion shall not obligate the Agent or any Lender to make or permit any Permitted Overadvance on any other occasion or to permit such Permitted Overadvances to remain outstanding.

A Permitted Overadvance is for the account of the Borrower and shall constitute a Committed Revolving Loan and an Obligation and shall be repaid by the Borrower in accordance with the provisions of Section 2.05(c).


More Definitions of Permitted Overadvance

Permitted Overadvance means an Overadvance made by the Administrative Agent, in its Permitted Discretion, which:
Permitted Overadvance means an Overadvance made by the Agent, in its Permitted Discretion, or at the direction of any Co-Collateral Agent, which:
Permitted Overadvance means an Overadvance made by the Administrative Agent, in its reasonable discretion (unless the Required Lenders direct the Administrative Agent not to make or to discontinue making Overadvances), which:
Permitted Overadvance means an extension of credit hereunder (whether in the form of an Overadvance or an advance made by the Agent) that is made, or that is permitted to remain outstanding, by the Agent, in its Permitted Discretion, and which:
Permitted Overadvance means an Overadvance that is made, or is permitted to remain outstanding, by the Administrative Agent, in its reasonable discretion, to:
Permitted Overadvance means either a Permitted Domestic Overadvance or a Permitted Canadian Overadvance.
Permitted Overadvance means an Overadvance made by the Agent to the Borrower, in its discretion, which: