Threshold Bank definition

Threshold Bank means, at any time while no Loans are outstanding, any Bank having [***]% or more of the aggregate amount of the Commitments and, at any time while Loans are outstanding, any Bank holding [***]% or more of the aggregate principal amount of the Loans.
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Examples of Threshold Bank in a sentence

  • If at any time the insurer or underwriter of the Extended Warranty Program fails to satisfy the Financial Strength Threshold, Bank may notify Retailer that Bank is no longer willing to authorize, and within thirty (30) days after Bank’s written notice thereof Retailer shall cease, financing on Accounts warranties provided under such Extended Warranty Program.

  • If an Event of Default has occurred and is continuing or if Borrower’s Net Cash is below the Asset-Based Threshold, Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion.

  • If at any time any warranty program or provider fails to satisfy the A.M. Best Threshold, Bank may notify Company that Bank is no longer willing to authorize, and Company shall cease, financing on Accounts warranties provided under such warranty program or by such provider.

  • In determining the Prescreened Mail Exposure Threshold, Bank may consider whether committed loan purchasers’ and financing parties’ combined unrestricted cash and cash equivalents, and availability on their respective credit facilities, is sufficient to purchase or otherwise finance the Loans to be originated by Bank in response to such Prescreened Offers.

  • If an Event of Default has occurred and is continuing or if Borrower is below the Asset-Based Threshold, Bank may apply any funds in its possession, whether from Borrower account balances, payments, proceeds realized as the result of any collection of Accounts or other disposition of the Collateral, or otherwise, to the Obligations in such order as Bank shall determine in its sole discretion.

  • Subject to Section 9.4, (A) whenever Borrower is below the Asset Based Threshold, Bank will apply proceeds of Borrower’s Accounts received by Bank (the “Collections”) towards the Obligations and will turn over any excess amounts to the Borrower and (B), whenever Borrower is at or above the Asset Based Threshold and no Default or Event of Default has occurred and is continuing, Bank will transfer Collections from the Lockbox into the Designated Deposit Account on a nightly basis.

  • If at any time the insurer or underwriter of the Extended Warranty Program fails to satisfy the A.M. Best Threshold, Bank may notify Retailer that Bank is no longer willing to authorize, and Retailer shall cease, financing on Accounts warranties provided under such Extended Warranty Program.

  • In addition, at any time Borrower’s Modified Quick Ratio is less than the Asset Based Threshold, Bank shall be entitled to charge Borrower a “float” charge in an amount equal to one (1) Business Days interest, at the interest rate applicable to the Credit Extensions, on all amounts received by Bank from the Lockbox and Collection Account and applied to prepay the then outstanding Advances.