Commitment Limit definition

Commitment Limit shall have the meaning set forth in Article 2, below.

Commitment Limit means, at any particular date, the lesser of (x) the Amount (as it may be increased by the Banks from time to time) or (b) the Borrowing Base as most recently determined and in effect (including the effect of any Periodic Reductions).

Commitment Limit in Section 1.2 of the Credit Agreement is hereby deleted in its entirety therefrom and the following is substituted in lieu thereof:

Examples of Commitment Limit in a sentence

• The total Ancillary Commitments shall not at any time exceed the Ancillary Commitment Limit.

• No letter of credit will be issued (x) if the face amount thereof plus the aggregate undisbursed amount of all standby letters of credit then outstanding would exceed the Letter of Credit Sublimit, or (y) if the face amount thereof plus the aggregate of all Advances then outstanding plus the aggregate undisbursed amount of all standby letters of credit then outstanding would exceed the Commitment Limit.

• Upon the Borrower’s request from time to time, the Agent will provide to Borrower interest rate swap quotes for interest rate Hedge Agreements pertaining to the Loan, not to exceed the Commitment Limit or the Maturity Date.

• For purposes of this Section, “current ratio” shall mean the ratio of (x) current assets plus the unused and available portion of the Commitment Limit (being the amount, if any, by which the Commitment Limit then in effect exceeds the sum of the principal balance of unpaid and outstanding Advances and the total undisbursed amount of all letters of credit outstanding as of such date of determination) to (y) current liabilities (excluding therefrom the outstanding balance on the Loan).

• Any such termination of the Revolving Commitment Limit occurring on or prior to the first year anniversary of the Closing Date shall be accompanied by the Termination Fee required pursuant to Section 5.4.

More Definitions of Commitment Limit

Commitment Limit means at any time the lesser of (a) $10,000,000.00 or (b) the then existing Borrowing Base.

Commitment Limit means, at any particular date, the lesser of (a) the Amount (as it may be increased by the Lenders from time to time) or (b) the Borrowing Base as most recently determined and in effect (including the effect of any Periodic Reductions), provided, however, that when a Defaulting Lender shall exist, Commitment Limit shall mean, at any particular date, the lesser of (x) the Amount minus the Defaulting Lender Unfunded Portion or (y) the Borrowing Base minus the Defaulting Lender Unfunded Portion.

Commitment Limit has the meaning given to it in clause 2.3 (Reduction in Available Commitment).

Commitment Limit means, at any particular date, the LESSER of (a) the Amount or (b) the Borrowing Base then in effect.

Commitment Limit means the maximum amount of the subordinated loan granted by Banco Popolare as indicated in the Subordinated Loan Agreement, save for the further increase that may be determined unilaterally by Banco Popolare through a written notice to the Guarantor.

Commitment Limit means MILLION DOLLARS ($ ).

Commitment Limit means $15,000,000.00."