ABL Commitments definition

ABL Commitments means “Commitments” as defined in the ABL Credit Agreement.

ABL Commitments the “Commitments” as defined in the ABL Credit Agreement.

ABL Commitments at any time, the sum of the U.S. Facility Commitments and the Canadian Facility Commitments, in each case at such time. The original aggregate ABL Commitment amount is $1,400,000,000.

Examples of ABL Commitments in a sentence

• The documentation for the ABL Facility will contain “amend and extend” provisions pursuant to which individual Lenders may agree to extend the maturity date of their outstanding ABL Commitments upon the request of the Borrower and without the consent of any other ABL Lender subject to customary procedures and limitations (it is understood that no existing Lender will have any obligation to commit to any such extension).B.

• The Lenders will be irrevocably and unconditionally obligated to acquire participations in each letter of credit, pro rata in accordance with their ABL Commitments, and to fund such participations in the event the Borrower Entities do not reimburse an Issuing Bank for drawings within the time period specified above.

• The Agent shall promptly notify the Lead Borrower and the ABL Lenders of the final allocation of such increase and the Increase Effective Date and on the Increase Effective Date (i) the Aggregate ABL Commitments under, and for all purposes of, this Agreement shall be increased by the aggregate amount of such ABL Commitment Increases, and (ii) Schedule 2.01 shall be deemed modified, without further action, to reflect the revised ABL Commitments and Applicable ABL Percentages of the ABL Lenders.

• The determination of the yield differential shall not take into account upfront fees or OID paid for either the then existing commitments under the ABL Facility or the Additional ABL Commitments.

• If at any time, the aggregate amount of outstanding ABL Loans, unreimbursed ABL Letter of Credit drawings and undrawn ABL Letters of Credit under any given ABL Facility exceeds the Maximum Borrowing Amount for that ABL Facility, then the relevant Borrower Entity will be required to repay outstanding ABL Loans and cash collateralize outstanding ABL Letters of Credit in an aggregate amount equal to such excess, with no reduction of the ABL Commitments.

• The Borrowers may seek Additional ABL Commitments from existing Lenders (each of which shall be entitled to agree or decline to participate in its sole discretion) and additional lenders who will become Lenders in connection therewith.

• If any Lender becomes a defaulting lender, then the ABL Letter of Credit exposure of such defaulting lender will automatically be reallocated among the non-defaulting lenders pro rata in accordance with their ABL Commitments up to an amount such that the revolving credit exposure of such non-defaulting lender does not exceed its commitments.

• If the Aggregate ABL Commitments are increased in accordance with this Section, the Agent, in consultation with the Lead Borrower, shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase.

• ABL Commitments means US$150,000,000, to the extent not increased, cancelled or reduced under this Agreement.

• The Borrowers shall prepay any CommittedABL Loans outstanding on the Increase Effective Date (and pay any additional amounts required pursuant to Section 2.05) to the extent necessary to keep the outstanding CommittedABL Loans ratable with any revised Applicable ABL Percentages arising from any nonratable increase in the ABL Commitments under this Section.

More Definitions of ABL Commitments

ABL Commitments means the “Commitments” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means the ABL Credit Agreement, dated as of February 17, 2021, among the Borrower, the lenders and agents party thereto and the ABL Administrative Agent, as the same may be amended, restated, amended and restated, modified, supplemented, refinanced and/or replaced from time to time in accordance with the terms thereof and the ABL/Fixed Asset Intercreditor Agreement to the extent constituting Permitted Refinancing Indebtedness. “ABL/Fixed Asset Intercreditor Agreement” means the ABL/Fixed Asset Intercreditor Agreement, dated as of the Closing Date, among the Borrower, the Subsidiary Guarantors, the Administrative Agent and the ABL Administrative Agent, substantially in the form of Exhibit K, as the same may be amended, restated, amended and restated, modified, supplemented and/or replaced (in form reasonably satisfactory to the Administrative Agent) from time to time. “ABL Loan Documents” means collectively (a) the ABL Credit Agreement, (b) the ABL Security Documents, (c) the ABL/Fixed Asset Intercreditor Agreement, (d) any promissory note evidencing loans under the ABL Credit Agreement and (e) any amendment, restatement, amendment and restatement, waiver, supplement or other modification to any of the documents described in clauses (a) through (d). “ABL Loans” means loans outstanding under the ABL Credit Agreement. “ABL Obligations Payment Date” has the meaning set forth in the ABL/Fixed Asset Intercreditor Agreement. “ABL Priority Collateral” has the meaning set forth in the ABL/Fixed Asset Intercreditor Agreement. “ABL Representative” has the meaning set forth in the ABL/Fixed Asset Intercreditor Agreement. “ABL Security Documents” means the collective reference to the Guarantee and Collateral Agreement (as defined in the ABL Credit Agreement) and all other security documents delivered to the ABL Administrative Agent granting a Lien on any property of any Person to secure the obligations and liabilities of any Loan Party under any ABL Loan Document. 0000-0000-0000 v.2

ABL Commitments means “Commitments” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means the ABL Credit Agreement dated as of the date hereof, among the Borrower, the other borrowers named therein, the ABL Facility Administrative Agent and the several banks and other financial institutions from time to time parties thereto, as such agreement may be amended, supplemented, waived or otherwise modified from time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Permitted Refinancing thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Credit Agreement), in each case, to the extent permitted hereunder. “ABL Event of Default” means “Event of Default” as set forth in the ABL Credit Agreement.

ABL Commitments means “Commitments” as defined in the ABL Credit Agreement. “ABL Cure Amount” means “Cure Amount” as defined in the ABL Credit Agreement. “ABL Cure Right” means “Cure Right” as defined in the ABL Credit Agreement.

ABL Commitments means “Commitments” as defined in the ABL Facility. “ABL Credit Agreement” means the Amended and Restated Credit Agreement dated as of October 23, 2017, among Holdings (as successor to Torrid Inc., a Delaware corporation), the Borrower, the ABL Facility Administrative Agent and the several banks and other financial institutions from time to time parties thereto, as amended by that certain First Amendment to Amended and Restated Credit Agreement, dated as of June 14, 2019, that certain Second Amendment to Amended and Restated Credit Agreement, dated as of September 4, 2019, and as such agreement may be further amended, supplemented, waived or otherwise modified from 1 US-DOCS\123992845.16 042525-0274 time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Refinancing Indebtedness thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Credit Agreement). “ABL Event of Default” means “Event of Default” as set forth in the ABL Credit Agreement. “ABL Facility” means the collective reference to the ABL Credit Agreement, any ABL Loan Document, any notes and letters of credit issued pursuant thereto and any guarantee, security agreement, patent, trademark or copyright security agreements, mortgages, letter of credit applications and other guarantees, pledge agreements, security agreements and collateral documents, and other instruments and documents, executed and delivered pursuant to or in connection with any of the foregoing, in each case as the same may be amended, supplemented, waived or otherwise modified from time to time, or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Refinancing Indebtedness thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Facility). “ABL Facility Administrative Agent” means Bank of America, in its capacity as administrative agent under the ABL Credit Agreement or any successor agent under the ABL Loan Documents. “ABL Financial Covenant” means the covenant set forth in Section 7.15 of the ABL Credit Agreement. “ABL Intercreditor Agreement” means the ABL Intercreditor Agreement substantially in the form of Exhibit G-1 among the Collateral Agent, Bank of America, as collateral agent under the ABL ...

ABL Commitments means “Commitments” as defined in the ABL Facility. “ABL Credit Agreement” means the Amended and Restated Credit Agreement dated as of October 23, 2017, among Holdings (as successor to Torrid Inc., a Delaware corporation), the Borrower, the ABL Facility Administrative Agent and the several banks and other financial institutions from time to time parties thereto, as amended by that certain First Amendment to Amended and Restated Credit Agreement, dated as of June 14, 2019, that certain Second Amendment to Amended and Restated Credit Agreement, dated as of September 4, 2019, and as such agreement may be further amended, supplemented, waived or otherwise modified from 1 US-DOCS\123992845.16 042525-0274 time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Refinancing Indebtedness thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Credit Agreement). “ABL Event of Default” means “Event of Default” as set forth in the ABL Credit Agreement. “ABL Facility” means the collective reference to the ABL Credit Agreement, any ABL Loan Document, any notes and letters of credit issued pursuant thereto and any guarantee, security agreement, patent, trademark or copyright security agreements, mortgages, letter of credit applications and other guarantees, pledge agreements, security agreements and collateral documents, and other instruments and documents, executed and delivered pursuant to or in connection with any of the foregoing, in each case as the same may be amended, supplemented, waived or otherwise modified from time to time, or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Refinancing Indebtedness thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Facility). “ABL Facility Administrative Agent” means Bank of America, in its capacity as administrative agent under the ABL Credit Agreement or any successor agent under the ABL Loan Documents. “ABL Financial Covenant” means the covenant set forth in Section 7.15 of the ABL Credit Agreement. “ABL Intercreditor Agreement” means the ABL Intercreditor Agreement substantially in the form of Exhibit G-1 among the Collateral Agent, Bank of America, as collateral agent under the ABL ...