Approved credit limit definition

Approved credit limit means the maximum advance that a financer is required to pay a recipient under a commercial open-ended credit plan agreement or asset-based lending transaction agreement. Where the commercial open-ended credit plan agreement or asset-based lending transaction agreement requires the financer to pay different maximum advances for different categories of advance (such as advances secured by inventory, accounts receivable, or others), and advances with respect to one category of advance do not reduce the maximum advance for another category of advance, the approved credit limit means the sum of the different maximum advances for different types of legally enforceable claims.
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Approved credit limit means the maximum advance that a financer may provide to a recipient or on the recipient’s behalf under athe commercial open-ended credit plan agreement or asset-based lending transaction agreement, not including any previous distributions advanced to a recipient or on a recipient’s behalf under the agreement, to the extent those distributions have been repaid . Where the commercial open-ended credit plan agreement or asset-based lending transaction agreement requires the financer to pay different maximum advances for different categories of advance (such as
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Approved credit limit means the Australian dollar amount specified by the Company in its acceptance of the Customer’s credit application (as amended by notice to the Customer in writing from time to time).
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Examples of Approved credit limit in a sentence

  • If you attempt to make a deposit that would cause the balance of your Collateral Account to exceed your Approved Credit Limit, we may reject that deposit.

  • You must fund your Collateral Account (make a deposit to it) within sixty (60) days after we notify you of your Approved Credit Limit or we will not finalize the approval of your application and you would need to reapply for the Credit Account if you still want the Credit Account.

  • You may make deposits to your Collateral Account at any time, up to your Approved Credit Limit, subject to the limits at participating retailers stated below.

  • If we approve your application, the Approved Credit Limit for your Credit Account will be disclosed to you both at the time of approval and when we send you your Card.

  • Your initial total Credit Limit will be equal to the lesser of your Approved Credit Limit or the amount you deposit to your Collateral Account, subject to a minimum deposit requirement of $200.

  • Your actual Credit Limit will depend on the amount you deposit to your Collateral Account (see “Establishing Your Approved Credit Limit and Initial Credit Limits” in Section 4, above).


More Definitions of Approved credit limit

Approved credit limit means the maximum advance that a financer may provide to a recipient or on the recipient’s behalf under the open-end commercial financing agreement, a lease financing agreement, or asset‐ based lending transaction agreement, not including any previous distributions advanced to a recipient or on a recipient’s behalf under the agreement, to the extent those distributions have been repaid. Where the commercial open‐ended financing agreement or asset‐based lending transaction agreement requires the financer to pay different maximum advances for different categories of advance (such as advances secured by inventory, accounts receivable, or others), approved credit limit means the total maximum advance that a financer may provide to a recipient for all categories of advance, not including any previous distributions advanced to a recipient or on the recipient’s behalf under the agreement, to the extent those distributions have been repaid.
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Approved credit limit means the maximum advance a recipient can receive under a commercial open-ended credit plan or asset-based lending transaction.
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Approved credit limit means the maximum advance that a financer may provide to a recipient or on the recipient’s behalf under an open-end commercial financing agreement, a lease financing agreement, or asset‐ based lending transaction agreement. Where the commercial open‐ended financing agreement or asset‐based lending transaction agreement requires the financer to pay different maximum advances for different categories of advance (such as advances secured by inventory, accounts receivable, or others), and advances with respect to one category of advance do not reduce the maximum advance for another category of advance, the approved credit limit means the sum of the different maximum advances for different types categories of advance.
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Approved credit limit means the maximum advance that a financer may provide to a recipient or on the recipient’s behalf under a commercial open-ended credit plan agreement or asset-based lending transaction agreement., not including any previous
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Approved credit limit means the amount corresponding to the applicable Approved Foreign Account Debtor set forth in the table below: Approved Foreign Account Debtor Approved Credit Limit Sonatrach Division Production - Algeria $3,000,000 C. petrobas $500,000 ONGC $300,000 E.N.S.P. - Algeria $1,250,000 Total E & P - Congo $1,000,000
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Approved credit limit has the meaning given in Section 4 of this Cardholder Agreement.
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Related to Approved credit limit

  • FTR Credit Limit means the amount of credit established with PJMSettlement that an FTR Participant has specifically designated to be used for FTR activity in a specific customer account. Any such credit so set aside shall not be considered available to satisfy any other credit requirement the FTR Participant may have with PJMSettlement.

  • Credit Limit means the total dollar amount of the Account which we approved and which you may borrow against according to the terms of this Agreement.

  • Letter of Credit Limit means $5,000,000.

  • Credit Line as defined in Section 2.1.

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Credit Line Agreement means the related credit line account agreement for a Mortgage Loan executed by the related mortgagor and any amendment or modification of it.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Letter of Credit Amount the stated maximum amount available to be drawn under a particular Letter of Credit, as such amount may be reduced or reinstated from time to time in accordance with the terms of such Letter of Credit.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Maximum Revolving Credit Amount means $85,000,000.00.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Maximum Credit Amount means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04(b).

  • Letter of Credit Liabilities means, at any time and in respect of all Letters of Credit, the sum of (a) the aggregate amount available to be drawn under all such Letters of Credit plus (b) the aggregate unpaid amount of all Reimbursement Obligations then due and payable in respect of previous drawings under such Letters of Credit.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Maximum Swingline Amount means $5,000,000.

  • Letter of Credit Maximum Amount means $5,000,000; provided that, on and after the Maturity Date, the Letter of Credit Maximum Amount shall be zero.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.