Revolving Credit Debt definition

Revolving Credit Debt. At any time, the lesser of (a) or (b), where

Revolving Credit Debt means any borrowing by the Company under a revolving credit facility, provided the amount of Debt owed thereunder is required to be or is reduced to zero for at least thirty (30) consecutive days during the fiscal year in which such facility is established.

Revolving Credit Debt has the meaning set forth in Section 8.1.

Examples of Revolving Credit Debt in a sentence

• The Credit Parties have the power and authority to incur the Indebtedness pursuant to the Revolving Credit Debt Documents and have duly authorized, executed and delivered the Revolving Credit Debt Documents.

• The term "Initial Yield to Maturity" shall mean the Yield to Maturity on all Senior Indebtedness then outstanding calculated on the basis of the Bank Credit Agreement as in effect on the date of this Agreement but assuming that any Revolving Credit Debt has a maturity 5 years from the date of computation.

• The parties to this Agreement acknowledge that the Operating Partnership will use the Net Offering Proceeds contributed to it as set forth in Section 3.9 as follows: (i) repayment of $52.4 million in respect of the Term Loans, including $8.4 million in prepayment fees; (ii) payment of $4.5 million in respect of the Maritrans Note; (iii) payment of $8.0 million in respect of [the Revolving Credit Debt]; and (iv) [general partnership purposes].

• In no event shall the Facility A Revolving Credit Debt at any time exceed the Facility A Total Commitment, determined as of such time.

• The Borrower shall use the proceeds of the Facility B Revolving Credit Debt solely (i) for general corporate purposes and (ii) to provide working capital in the ordinary course of its business, including, without limitation, to fund receivables and the purchase of inventory.

More Definitions of Revolving Credit Debt

Revolving Credit Debt. Section 9.2.2 "Security Agreement" Section 6.5 "Senior Subordinated Notes" Section 2.1.1 "Specified Related Agreements" Section 4.3.2 "Subject Securities" Section 8.7 "Tag-Along Agreement" Section 6.7 "Warrants" Section 2.2 Certain other terms are defined in the Exhibits hereto and are used therein with the meanings so defined.

Revolving Credit Debt. At any time, the lesser of (a) or (b), where (a) is $120,000,000.00.

Revolving Credit Debt. At any time, the lesser of (a) or (b), where (a) is: $150 Million (b) is: Indebtedness (including principal and unpaid interest) of the Borrowers on account of loans under the Revolving Credit advances made pursuant to this Agreement which, when incurred or when Acceleration takes place, is equal to or less than amounts which, as reflected on the Borrowing Base Certificate provided to the Administrative Agent for the date when incurred (or on the then most recently provided such Borrowing Base Certificate in the event that one had not been provided for the relevant date), were within amounts available to be borrowed under the Revolving Credit or constituted Permissible Overloans, IT BEING UNDERSTOOD that, (i) in the absence of manifest computational error by the Borrowers' Representative, the Administrative Agent may rely on, and Term Lender shall be bound by, the determination of such availability as reflected on such Borrowing Base Certificate, and (ii) the status of indebtedness as "Revolving Credit Debt" is determined without regard to any subsequent declination in the appraised value of the Inventory or other assets on which such availability had been so determined, and (iii) the occurrence of a BaseLine Covenant Breach, in and of itself, shall not affect the status of indebtedness as "Revolving Credit Debt". (For purposes of the determination of whether a loan or advance to cover the honoring of a L/C constitutes "Revolving Credit Debt", the date of issuance of the subject L/C shall constitute the date on which the subject indebtedness was incurred).

Revolving Credit Debt means revolving credit Indebtedness Incurred pursuant to clause (1) of the definition of Permitted Debt that is secured, in whole or in part, by ABL Collateral, and that is designated as “Revolving Credit Debt” in an Officers’ Certificate delivered to the Trustee and the Collateral Trustee (provided, that no Shared Lien Debt may be designated as “Revolving Credit Debt”).

Revolving Credit Debt means the Facility A Revolving Credit Debt and/or the Facility B Revolving Credit Debt, as the context may require.

Revolving Credit Debt means the indebtedness and other liabilities owing pursuant to any Revolving Credit Loan Documents at any time.

Revolving Credit Debt means, at any time, the sum of the Tosco Revolving Credit Debt, PLUS the TEL Revolving Credit Debt, plus the Bayway Revolving Credit Debt outstanding at such time.