Available Credit Portion definition

Available Credit Portion means that portion of the Current Line of Credit Commitment that is generally available in the ordinary course for borrowing at any time under the Line of Credit Facility, as such amount is determined in accordance with Section 1.3 hereof.
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Available Credit Portion means that portion of the Term Loan Commitment that is generally available in the ordinary course for borrowing at any time under the Term Loan Facility, as such amount is determined in accordance with Section 1.3.
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Available Credit Portion means the lesser of (a) the Borrowing Base and (b) the Line of Credit Commitment, minus (i) the aggregate amount of all prepayments required to have been paid pursuant to Section 1.1.5.3 (c), minus (11) the aggregate amount of all voluntary commitment reductions pursuant to Section 1.1.5.5.
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Examples of Available Credit Portion in a sentence

  • If the outstanding indebtedness under the Term Loan Facility at any time exceeds the Available Credit Portion as determined in accordance with Section 1.3, then such excess amount outstanding must be re-paid to Administrative Agent in its entirety immediately upon the earlier of (1) awareness by Borrowers of the advance or incurrence thereof or (2) demand by Administrative Agent for payment thereof.

  • Principal amounts repaid or prepaid under the Line of Credit Facility prior to the Line of Credit Maturity Date will be available for reborrowing pursuant to and in accordance with the terms hereof up to the Available Credit Portion.

  • Subject to the terms and conditions of and in reliance upon the representations and warranties contained in the Loan Documents, each Lender will lend funds to Borrower from time to time prior to the Line of Credit Maturity Date (as determined in accordance with Section 1.1.2 hereof) in an aggregate amount at any time outstanding not to exceed its Commitment Percentage (on a Pro Rata basis) of the Available Credit Portion at such time (as determined in accordance with Section 1.3 hereof).

  • Subject to the terms and conditions of and in reliance upon the representations and warranties in the Loan Documents, each Lender (severally and on a Pro Rata basis with the other Lenders) will lend funds to Borrowers on a senior secured basis through Advances from time to time prior to September 16, 2000 (the "Final Term Draw Date") in an aggregate principal amount advanced not to exceed the Available Credit Portion (as determined in accordance with Section 1.3.

  • So long as any such letter of credit is effective and outstanding, the face amount thereof will be deducted from the Line of Credit Commitment in determining the Available Credit Portion (under Section 1.3 hereof) at any time, BUT such amounts will be considered "unborrowed" for purposes of calculating the Facility Fee under Section 1.7.2 hereof.

  • Each Advance under the Line of Credit Facility pursuant to an Advance Request must be in multiples of $500,000 and not greater than the un-borrowed balance of the Available Credit Portion under Section 1.3. hereof.

  • If the aggregate outstanding indebtedness under the Line of Credit Facility at any time exceeds the Available Credit Portion (as determined in accordance with Section 1.3 hereof), THEN such excess amount outstanding must be prepaid immediately to Administrative Agent for the Benefit of Lenders (without necessity of notice or demand by Administrative Agent).

  • Each Advance under the Term Loan Facility pursuant to an Advance Request (unless Administrative Agent otherwise consents) must be in an amount of at least $100,000 and may not be greater than the un-borrowed balance of the Available Credit Portion.

  • No Lender will be obligated to make any Advance under the following circumstances: (a) if the principal amount of such Advance plus the aggregate amount outstanding under the Term Loan Facility would exceed the Available Credit Portion, or (b) during the existence of a Default or an Event of Default hereunder, or (c) if such Advance would cause a Default or Event of Default hereunder.

  • Borrowers will also pay Administrative Agent (for the ratable benefit of Lenders) in immediately available funds a Periodic Facility Fee at the rate of ONE QUARTER OF ONE PERCENT (0.25%) per annum on the average daily unborrowed portion of the Available Credit Portion (adjusting by adding, for purpose of this calculation, any amounts subtracted under Section 1.3.2.d hereof).

Related to Available Credit Portion

  • Available Credit means, at any time, (a) the then effective Revolving Credit Commitments minus (b) the aggregate Revolving Credit Outstandings at such time.

  • Available Commitment means a Lender’s Commitment minus:

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Applicable Creditor has the meaning assigned to such term in Section 9.14(b).

  • Unused Amount means the Maximum Line reduced by outstanding Revolving Advances. The Borrower agrees to pay to the Lender an unused line fee at the rate of one-half of one percent (0.5%) per annum on the average daily Unused Amount from the date of this Agreement to and including the Termination Date, due and payable monthly in arrears on the first day of the month and on the Termination Date.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Available Commitments shall refer to the aggregate of the Lenders’ Available Commitments hereunder.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Unused Revolving Line Facility Fee is defined in Section 2.4(c). [Signature page follows.]

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any shxxx-xxxm deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Revolver Percentage means, for each Lender, the percentage of the Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated, the percentage held by such Lender (including through participation interests in Reimbursement Obligations) of the aggregate principal amount of all Revolving Loans and L/C Obligations then outstanding.

  • Applicable Unused Line Fee Percentage means, as of any date of determination, the applicable percentage set forth in the following table that corresponds to the Average Revolver Usage of Borrowers for the most recently completed month as determined by Agent in its Permitted Discretion; provided, that for the period from the Closing Date through and including February 28, 2015, the Applicable Unused Line Fee Percentage shall be set at the rate in the row styled "Level II"; provided further, that any time an Event of Default has occurred and is continuing, the Applicable Unused Line Fee Percentage shall be set at the margin in the row styled "Level II": Level Average Revolver Usage Applicable Unused Line Fee Percentage I > 50% of the Maximum Revolver Amount 0.25 percentage points II < 50% of the Maximum Revolver Amount 0.375 percentage points The Applicable Unused Line Fee Percentage shall be re-determined on the first date of each fiscal month of Borrowers by Agent.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.

  • 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.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Ratable Portion means, with respect to any Note, an amount equal to the product of (a) the amount equal to the net proceeds being so applied to the prepayment of Senior Indebtedness in accordance with Section 10.3(b), multiplied by (b) a fraction, the numerator of which is the outstanding principal amount of such Note, and the denominator of which is the aggregate principal amount of Senior Indebtedness of the Company and its Subsidiaries being prepaid pursuant to Section 10.3(b).

  • Adjusted Pool Amount (PO Portion) With respect to any Distribution Date and Loan Group, the sum of the amounts, calculated as follows, with respect to all Outstanding Mortgage Loans of such Loan Group: the product of (i) the PO Percentage for each such Mortgage Loan and (ii) the remainder of (A) the Cut-off Date Principal Balance of such Mortgage Loan minus (B) the sum of (x) all amounts in respect of principal received in respect of such Mortgage Loan (including, without limitation, amounts received as Monthly Payments, Periodic Advances, Principal Prepayments, Liquidation Proceeds and Substitution Adjustment Amounts) and distributed to Holders of the Certificates of the Related Group on such Distribution Date and all prior Distribution Dates and (y) the principal portion of any Realized Loss (other than a Debt Service Reduction) incurred on such Mortgage Loan from the Cut-off Date through the end of the month preceding such Distribution Date.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.