Examples of Revolving Credit Ceiling in a sentence
Pursuant to the Loan Agreement, the early termination fee was calculated based upon the following sliding scale: 3% times the Revolving Credit Ceiling if termination of the revolving line of credit occurred in the first year; 2% if termination occurred in the second year; and 1% if termination occurred in the third year.
No reduction or termination of the Revolving Credit Commitments or the Revolving Credit Ceiling may be reinstated.
In the event that the Termination Date occurs, for any reason, prior to the Maturity Date, the Borrowers shall pay to the Administrative Agent, for the ratable benefit of the Lenders, a fee (the “Early Termination Fee”) in respect of amounts which are or become payable by reason thereof equal to one percent (1.00%) of the Revolving Credit Ceiling then in effect if the Termination Date shall occur at any time on or before the second anniversary of the Closing Date.
So long as an Event of Default shall not have occurred and be continuing or would result therefrom, and subject to all terms and conditions set forth in the Loan Agreement, the Borrower may request, by prior written notice to the Agent, that the Maximum Revolving Credit Ceiling be increased up to $200,000,000.
The Lead Borrower may reduce, or terminate, the Revolving Credit Commitments and the Revolving Credit Ceiling, in whole or in part from time to time, by furnishing three (3) Business Days' written notice to the Administrative Agent, whereupon the Revolving Credit Commitments of the Revolving Credit Lenders shall be reduced pro rata in accordance with their respective Revolving Credit Commitment Percentages.