U.S. Overadvance definition

U.S. Overadvance means, as of any date of determination, the sum of (i) Loans then outstanding less (ii) the Available Credit.

U.S. Overadvance has the meaning assigned to such term in Section 2.04(a).

U.S. Overadvance has the meaning specified in Section 2.01(c).

Examples of U.S. Overadvance in a sentence

• All U.S. Overadvance Loans shall constitute U.S. Facility Obligations secured by the U.S. Facility Collateral and shall be entitled to all benefits of the Loan Documents.

• Each US Overadvance shall mature and be due on the earliest of (i) the Initial Revolving Credit Maturity Date, (ii) written demand by the Administrative Agent and (iii) 30 days after the date on which such US Overadvance is made; it being understood and agreed that no US Overadvance shall cause the Initial US Revolving Credit Exposure of any Initial US Revolving Lender to exceed such Initial US Revolving Lender’s Initial US Commitment.

• Whether or not the Loan Party Agent submits a Notice of Borrowing, the U.S. Borrower shall be deemed to have requested a Borrowing of U.S. Base Rate Loans in an amount necessary to pay all amounts due U.S. Issuing Bank on any U.S. Reimbursement Date and each U.S. Lender agrees to fund its Pro Rata share of such Borrowing whether or not the U.S. Revolver Commitments have terminated, any U.S. Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied.

• Overadvance Loan: a Canadian Overadvance Loan and/or a U.S. Overadvance Loan, as the context requires.

• Any funding of a U.S. Overadvance Loan or sufferance of a U.S. Overadvance shall not constitute a waiver by Agent or Lenders of the Event of Default caused thereby.

More Definitions of U.S. Overadvance

U.S. Overadvance means at any time the amount by which the aggregate outstanding U.S. Revolving Exposures exceed the U.S. Borrowing Base.

U.S. Overadvance as defined in Section 2.1.5.

U.S. Overadvance means an Overadvance made to or for the account of a U.S. Co-Borrower.

U.S. Overadvance as defined in Section 2.1.6(a). US Overadvance Loan: a US Base Rate Loan made when a US Overadvance exists or is caused by the funding thereof.

U.S. Overadvance means any Overadvance made to or for the benefit of a U.S. Borrower.

U.S. Overadvance has the meaning specified therefor in Section 2.5 of the Agreement.

U.S. Overadvance as defined in Section 2.1.4(b).