Reducing Revolving Credit Commitment definition

Reducing Revolving Credit Commitment means, during each relevant period set forth below, (a) in the aggregate, the amount set forth below for each such period; and (b) for each Lender, the amount set forth below for each such period multiplied by the percentage set forth below for such Lender, as such amount may be from time to time be adjusted pursuant to Sections 2.07, 2.08 or 9.08. Bank of America 100% Period Reducing Revolving Credit Commitment Closing Date – 4/27/07 $12,000,000 4/28/07 – 4/27/08 $9,600,000 4/28/08 – 6/14/09 $7,200,000 6/15/09 – 4/27/10 $4,800,000 4/28/10 – Reducing Revolving Credit Termination Date $2,400,000
Sample 1
Reducing Revolving Credit Commitment as to any Lender, the ------------------------------------ obligation of such Lender, if any, to make Reducing Revolving Credit Loans, in an aggregate principal and/or face amount not to exceed the amount set forth under the heading "Reducing Revolving Credit Commitment" opposite such Lender's name on Schedule 1.1B, as the same may be reduced pursuant to Section 4.4(c) and 4.4(d) or otherwise changed from time to time pursuant to the terms hereof. The original aggregate amount of the Reducing Revolving Credit Commitments is $25,000,000. Notwithstanding the foregoing and subject to Section 2.1(b), the Borrower may elect at any time to increase the Reducing Revolving Credit Commitment by the then applicable amount of the Supplemental Facility Commitment.
Sample 1
Reducing Revolving Credit Commitment means, with respect to each Lender, the commitment of such Lender to make Reducing Revolving Credit Loans hereunder in an aggregate amount at any time outstanding not in excess of the amount opposite the name of such Lender in the column entitled "Reducing Revolving
Sample 1

Examples of Reducing Revolving Credit Commitment in a sentence

  • Each such reduction shall be in the aggregate amount of the lesser of (x) at least $5,000,000 or (y) the entire remaining Acquisition Reducing Revolving Credit Commitment, and shall permanently reduce the Acquisition Reducing Revolving Credit Commitment.

  • During the period from the date of this Agreement to but excluding February 28, 2003 (the "Revolving Credit Commitment Termination Date"), Bank shall make revolving loans (collectively, "Revolving Loans" and individually, a "Revolving Loan") to Borrower from time to time upon Borrower's request in an aggregate principal amount at any one time outstanding not to exceed Four Million Dollars ($4,000,000) (the "Reducing Revolving Credit Commitment").

  • All Reducing Revolving Credit Loans made by a Lender to the Borrower shall be evidenced by a single Reducing Revolving Credit Note, duly executed on behalf of the Borrower, dated the Closing Date, in substantially the form of Exhibit B-2 annexed hereto, delivered and payable to such Lender in a principal amount equal to its Reducing Revolving Credit Commitment on such date.

  • Subject to the terms and conditions of this Agreement, Lender agrees to make Advances to the Borrower under the Acquisition Reducing Revolving Credit Commitment from time to time from the Closing Date until the Revolving Credit Maturity Date for the sole purpose of funding acquisitions by Borrower approved by Lender.

  • For the period commencing on the date of this Agreement to and including the Termination Date, the Company shall pay to the Lender a commitment fee at a rate per annum equal to three-tenths percent (0.30%) per annum on the average daily unused amount of the Reducing Revolving Credit Commitment hereunder, such fee to be payable on December 31, 1998 and on the last day of March, June, September, and December thereafter to and including, and on, the Termination Date.

  • The Borrower shall, by notice from an Authorized Representative, have the right from time to time upon not less than three (3) Business Days' written notice to the Lender, effective upon receipt, to reduce the Reducing Revolving Credit Commitment.

  • All proceeds of each subsequent borrowing under the Revolving Credit Commitment and the Reducing Revolving Credit Commitment after the Closing Date shall be used to provide for working capital requirements and for general corporate purposes of the Borrower.

  • During the term of the Revolving Facility, Borrower shall pay to Lender such amounts as are necessary so that the sum of the outstanding principal balance of the Working Capital Revolving Credit Outstandings under the Reducing Revolving Line of Credit at any time does not exceed the Reducing Revolving Credit Commitment at such time (including any overadvances resulting from the scheduled reductions in the Reducing Revolving Credit Commitment) or the Borrowing Base.

  • Subject to the other terms and conditions set forth in this Agreement, and as evidenced the Acquisition Reducing Revolving Note the Lender agrees to make available to Borrower, until the Revolving Credit Maturity Date, Advances in an aggregate amount outstanding at any time not to exceed the lesser of the Acquisition Reducing Revolving Credit Commitment and the Borrowing Base.

  • All representations and warranties made herein or in any other Loan Documents or in certificates given pursuant hereto or thereto shall survive the execution and delivery of this Agreement and the other Loan Documents and shall continue in full force and effect with respect to the date as of which they were made as long as any Loans or the Reducing Revolving Credit Commitment are in use or available hereunder.


More Definitions of Reducing Revolving Credit Commitment

Reducing Revolving Credit Commitment means the commitment of the Lender to make loans under the Reducing Revolving Credit in the respective amount set opposite the applicable time period, which amounts may be further reduced pursuant to Section 3.5 hereof:
Sample 1
Reducing Revolving Credit Commitment means, as to each Bank, the obligation of such Bank to make Reducing Revolving Credit Loans under Subsection 2.1(a) hereof up to an aggregate principal amount at any one time outstanding equal to the amount set forth opposite the name of such Bank in Exhibit A hereto under the heading "Reducing Revolving Credit Commitment" (as the same may be reduced from time to time pursuant to Subsection 2.3 hereof).
Sample 1

Related to Reducing Revolving Credit Commitment

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Aggregate Revolving Credit Commitment means the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at any given time. The Aggregate Revolving Credit Commitment on the Closing Date is $1,250,000,000.

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • New Revolving Credit Commitments shall have the meaning provided in Section 2.14(a).

  • Aggregate Revolving Credit Commitments means, at any time, the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at such time.

  • U.S. Revolving Credit Commitment shall have the meaning assigned to such term in Section 2.1(c).

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.

  • Refinancing Revolving Credit Commitments means one or more Classes of Revolving Credit Commitments hereunder that result from a Refinancing Amendment.

  • Incremental Revolving Credit Commitments has the meaning set forth in Section 2.14(a).

  • Other Revolving Credit Commitments means one or more Classes of revolving credit commitments hereunder that result from a Refinancing Amendment.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Additional Revolving Credit Commitments means any revolving credit commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(ii).

  • Initial Revolving Credit Commitment means, with respect to any Person, the commitment of such Person to make Initial Revolving Loans (and acquire participations in Letters of Credit and Swingline Loans) hereunder as set forth on the Commitment Schedule, or in the Assignment Agreement pursuant to which such Person assumed its Initial Revolving Credit Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to Section 2.22. The aggregate amount of the Initial Revolving Credit Commitments as of the Closing Date is $75,000,000.

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).