Total Revolving Credit Facility Commitments definition

Total Revolving Credit Facility Commitments means the aggregate of the Commitments of the Commercial Lenders under the Revolving Credit Facility, being USD 20,000,000.- at the date of this Agreement.

Total Revolving Credit Facility Commitments means, at any relevant time, the aggregate of the Revolving Credit Facility Commitments, being three hundred and three million, one hundred and eighteen thousand and seven hundred and fifty dollars ($303,118,750) at the date of this Agreement.

Total Revolving Credit Facility Commitments means, as at the Effective Date, the lesser of (i) seventy million dollars ($70,000,000) and (ii) the amount in dollars which, when aggregated with the amount of the Loans outstanding on the Effective Date, is equal to 80% of the aggregate Fair Market Value of the Mortgaged Ships (as determined from the valuations of the Ships delivered under clause 6 of the Amendment and Restatement Agreement, as a condition precedent to the Effective Date under the Amendment and Restatement Agreement and at any other time, such amount as the same may be adjusted pursuant to the terms of this Agreement.

Examples of Total Revolving Credit Facility Commitments in a sentence

• If the Total Commitments are not available to be drawn as a result of this clause, the Total Term Loan Facility Commitments and the Total Revolving Credit Facility Commitments shall be reduced and cancelled pro rata and the repayment instalments for the Term Loan shall be reduced pro rata.

• If the Total Commitments are partially reduced and/or the Loans partially prepaid under clause 7.1 ( Illegality) or clauses 7.7 to 7.12 (Right of cancellation and prepayment in relation to a single Lender), (a) the Commitments of the relevant Lender shall be reduced to zero and (b) the Total Term Loan Facility Commitments and the Total Revolving Credit Facility Commitments shall be reduced by the amount of such Lender’s Term Loan Facility Commitment and Revolving Credit Facility Commitment as applicable.

• Upon any such cancellation the Total Revolving Credit Facility Commitments shall be reduced by the same amount.

• The Borrowers shall only be entitled to voluntarily cancel the whole or any part of the Total Revolving Credit Facility Commitments which is then drawn if the Borrowers prepay such amount of the Revolving Credit Facility Loans (as selected by the Borrowers) as may be necessary to ensure that the outstanding Revolving Credit Facility Loans after the date of cancellation will not exceed the Total Revolving Credit Facility Commitments (as so reduced).

• The Borrowers shall promptly reimburse to the Agent the cost (as conclusively certified by the Agent) of taking out and keeping in force in respect of the Ship and the other Mortgaged Ships on approved terms, mortgagee's additional perils (pollution risks) cover for the benefit of the Finance Parties for an aggregate amount up to one hundred and twenty per cent (120%) of the aggregate of the Loans outstanding and the undrawn and uncancelled Total Revolving Credit Facility Commitments.

• On the Final Reduction Date (without prejudice to any other provision of this Agreement), the Total Revolving Credit Facility Commitments shall be reduced to zero and shall be repaid in full.

• The Borrower may in its discretion nominate which Tranche to cancel and which Ship Commitment under Tranche A or which Ship Scrubber Commitment under Tranche B to cancel or whether to cancel a part or all of the Total Revolving Credit Facility Commitments.

• To the extent not previously reduced, the Total Revolving Credit Facility Commitments shall be reduced on each Reduction Date by such amount as set out in Schedule 7 ( Repayment Schedule), as may be revised by clauses 5.5 (Currency and amount), 6.3 and 7.16.

• Any unutilised portion of the relevant Total Revolving Credit Facility Commitments shall be automatically cancelled at close of business in Singapore (5:00pm) on the Last Availability Date.

• To the extent not previously reduced, the Total Revolving Credit Facility Commitments shall be reduced on each Reduction Date by such amount as set out in Schedule 7 (Repayment Schedule), as may be revised by clauses 5.5 (Currency and amount), 6.3 and 7.16.

More Definitions of Total Revolving Credit Facility Commitments

Total Revolving Credit Facility Commitments means (subject to clause 8 (Failure to Pre-fund) of the Amendment and Restatement Agreement) the aggregate of the Revolving Facility Commitments, being HKD 3,120,720,000 at the Amendment and Restatement Effective Date.

Total Revolving Credit Facility Commitments means the aggregate of the Revolving Credit Facility Commitments, being EUR 350,000,000 at the Amendment and Restatement Date;

Total Revolving Credit Facility Commitments means the aggregate of the Revolving Credit Facility Commitments, being e 55,000,000 (or its equivalent) at the date of this Agreement.

Total Revolving Credit Facility Commitments means the aggregate of the Revolving Credit Facility Commitments.

Total Revolving Credit Facility Commitments means the aggregate of the Revolving Credit Facility Commitments of all the Lenders);