Revolving Financing definition

Revolving Financing means one or more secured revolving lines of credit of the Loan Parties in an initial aggregate amount not to exceed $19,500,000, subject to adjustment as provided in the Senior Subordination Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Revolving Financing means a secured revolving line of credit facility of Company in an aggregate amount not to exceed $175,000,000.

Revolving Financing means a secured revolving line of credit facility pursuant to the GMAC Credit Agreement in an aggregate principal amount not to exceed $100,000,000, provided, however, that the outstanding amount of Revolving Financing may exceed $ 100,000,000, so long as the advance rates and standards for determining the eligible receivables and eligible inventory for inclusion in the borrowing base under the GMAC Credit Agreement in effect on the Closing Date support such increase and are satisfied.

Examples of Revolving Financing in a sentence

The term “JV Revolving Financing Proposals” has the meaning set forth in Section 4.25(b).
The obligation of Company to repay the loans made under the Term C Financing would be secured by the Collateral in the same priority between Agent and Sub-Agent as the Term A Financing and the Revolving Financing, and Agent and Sub-Agent have so agreed to amend the Intercreditor Agreement on the terms and conditions set forth herein.
Agent, the Loan Parties and the Revolving Financing Lender shall have executed the Intercreditor Agreement on terms reasonably satisfactory to Agent and Purchasers.
The Loan Parties shall have a minimum availability under the Revolving Financing on the Closing Date of at least $20,000,000.
The Revolving Financing shall have been consummated by the execution and delivery of definitive agreements, instruments and documents related thereto, in form and substance satisfactory to Agent in its sole but reasonable discretion.
FURTHER RESOLVED, that [either] the [or/and] of be and each of them, acting singly, hereby is authorized in the name and on behalf of the Trustee, from time to time to sign and deliver assignments and other instruments relating to granting a security interest in the student loans referenced in the Revolving Financing Agreement, all as provided in said Revolving Financing Agreement.
RESOLVED, that [either] the [or/and] of be and each of them, acting singly, hereby is authorized, in the name and on behalf of (acting solely in its capacity as eligible lender trustee for [INSERT BORROWER]) (in such capacity, “Trustee”), this day of , 20 , to execute a Revolving Financing Agreement with ▇▇▇▇▇▇ Mae, Inc.
FURTHER RESOLVED, that all above-named officers of the Trustee be and they hereby are each authorized on behalf of the Trustee to execute all such instruments and to perform all such other acts as may be appropriate for the purpose of carrying out the foregoing resolutions and effecting said Revolving Financing Agreement.
FURTHER RESOLVED, that all above-named officers of be and they hereby are each authorized on behalf of to execute all such instruments and to perform all such other acts as may be appropriate for the purpose of carrying out the foregoing resolutions and effecting said Revolving Financing Agreement.
The Revolving Financing Lenders shall have advanced at least $10,000,000 under the Revolving Financing.

More Definitions of Revolving Financing

Revolving Financing means the secured revolving line of credit facility of the Company established under the Senior Credit Agreement, as such facility may be restated, renewed, replaced, refinanced, amended or modified from time to time. “SEC” shall mean the Securities and Exchange Commission and any governmental body or agency succeeding to the functions thereof. “Securities” shall have the meaning assigned to such term in Section 2.3 hereof. “Securities Act” shall mean the Securities Act of 1933, as amended. “Securities Exchange Act” shall mean the Securities Exchange Act of 1934, as amended. “Seller Subordinated Debt” shall mean Indebtedness in original principal amount of up to $21,000,000 issued by the Parent in connection with the Blodg▇▇▇ ▇▇▇▇isition, together with any subordinated notes issued by the Parent as payments of interest thereon in kind and any capitalized interest thereon. “Senior Agent” means the “Administrative Agent” (as such term is defined in the Senior Credit Agreement). “Senior Credit Agreement” shall mean that certain Credit Agreement, dated as of December 21, 2001, by and among the Company, Parent, Bank of America, N.A., as Administrative Agent, Issuing Lender and Swing Line Lender, Banc of America Securities LLC, as Lead Arranger and Book Manager and the various financial institutions party thereto from time to time, as such agreement may be restated, renewed, refinanced, replaced, amended or modified from time to time. “Senior Credit Documents” shall mean the Senior Credit Agreement and all documents, instruments, certificates, and agreements contemplated thereby or executed in connection therewith. “Senior Default Put Note” shall mean a senior subordinated promissory note of Parent, (a) the payment and performance of which has been guaranteed by all other Middleby Companies, (b) which shall initially bear interest at an annual rate equal to the lesser of 15.5% or the highest rate permitted by applicable law, and which provides that such annual rate of interest shall increase by 0.5% per annum on the first (1st) Business Day of each Fiscal Quarter immediately following the date of issuance of such note, (c) which provides that such interest shall be paid monthly in cash, commencing on the first (1st) Business Day of the month immediately following the date of issuance of such note, (d) which provides that the principal thereof shall be due and payable in 36 equal monthly installments (unless sooner accelerated or sooner permitted to be paid by th...

Revolving Financing means a secured revolving line of credit facility under the Senior Secured Credit Facility providing for advances in the aggregate amount outstanding initially not to exceed $25,000,000.

Revolving Financing means a secured revolving line of credit facility pursuant to the Lending Agreements in an aggregate principal amount not to exceed $5,500,000, provided, however, that the outstanding amount of Revolving Financing may exceed $5,500,000, but no more than $6,500,000, so long as the advance rates and standards for determining the eligible receivables and eligible inventory for inclusion in the borrowing base under the Revolving Financing are the same as the criteria set forth in the Loan Agreement on the Closing Date, plus an overadvance (not based upon eligible receivables or eligible inventory) in the sum of up to $750,000.