Total Facility Commitment definition
Examples of Total Facility Commitment in a sentence
Each Borrower and each of its Subsidiaries is Solvent after giving effect to the transactions contemplated by this Agreement and the other Loan Documents and assuming an Advance on the Closing Date equal to the Applicable Total Facility Commitment for the Facility in which such Borrower is an Applicable Borrower.
Any increase in the Total Facility Commitment may be made in an amount that is less than the increase requested by the Company if the Company is unable to arrange for, or chooses not to arrange for, Augmenting Revolving Lenders.
The Total Acquisition Commitment and the Total Facility Commitment shall be permanently reduced by the amount of any principal payments or prepayments received with respect to the Acquisition Loans after November 8, 1999, whether received heretofore or hereafter.
The aggregate principal amount of all Loans made by the Lenders and outstanding at any one time shall not exceed $300,000,000, subject to (i) reductions by Borrower to a lower amount pursuant to Section 2.2.2 and (ii) increases by Borrower to a higher amount pursuant to Section 2.2.3 (as so reduced or increased from time to time, the "Total Facility Commitment").
A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, the Total Outstanding Facility Amount shall not exceed the Total Facility Commitment then in effect.
Once reduced or cancelled, the Total Facility Commitment may not be increased or reinstated except as provided in Section 2.2.3 below.
If at any date the Total Outstanding Facility Amount exceeds the Total Facility Commitment, determined as of such date, then not later than the next succeeding Business Day, the Borrower shall be required to prepay the Loans in an amount equal to such excess until the Total Outstanding Facility Amount does not exceed the Total Facility Commitment.
From the effective date of any such reduction, the Facility Fees shall be computed on the basis of the Total Facility Commitment as so reduced.
The occurrence of a Specified Liquidity Event shall be deemed continuing notwithstanding that Specified Excess Availability may thereafter exceed the amount set forth in the preceding sentence unless and until the Specified Excess Availability exceeds the greater of (i) $150.0100.0 million and (ii) 10% of the lesser of (A) the Borrowing Base and (B) the Total Facility Commitment for 30 consecutive days, in which event a Specified Liquidity Event shall no longer be deemed to be continuing.
In addition to any fees otherwise provided for in the Credit Agreement, the Borrowers hereby agree to pay an up-front amendment fee (the "Up-front Fee") equal to 0.10% of the Total Facility Commitment, due and payable on the effective date of this Amendment Agreement to the Agent for the pro rata benefit of the Lenders based on their Applicable Commitment Percentages, and which fee shall be fully earned when due and payable and not refundable.