Debt Credit definition

Debt Credit for any Person means, at any date, the lesser of (i) the aggregate amount of contingent obligations of such Person as an account party in respect of letters of credit, letters of guaranty or bankers’ acceptances and (ii) $168,000,000.
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Examples of Debt Credit in a sentence

  • Parent and Merger Sub have cash on hand or committed financing sufficient (a) to deliver the Merger Consideration as detailed in Article 2 herein, and to consummate the transactions contemplated by this Agreement, including without limitation, to make all other payments of fees and expenses contemplated hereunder, and (b) to refinance or prepay in full all indebtedness under the Company Senior Secured Credit Facility and the Company Sub Debt Credit Agreement.

  • Subordinated Debt Credit ratings are the current opinion of the rating agency on creditworthiness of an obligor with respect to a specific financial obligation and a specific class of financial obligation for a specific financial program.

  • Debt Credit Agreement dated October 15, 2014 On October 15, 2014, the Company entered into senior secured credit facilities in the amount of up to $250 million with Morgan Stanley Senior Funding, Inc.

  • NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Note 5 Debt, Credit Facilities, and Commitments and Contingencies Debt Outstanding 1 Excludes the effect of related interest rate swaps, as applicable.

  • The Subordinated Debt Loan Documents set forth the entire agreement and understanding of the parties thereto relating to the Subordinated Debt Credit Facility, and there are no other agreements, arrangements or understandings, written or oral, relating to the matters covered thereby.

  • The Company was in compliance with the applicable covenants at December 31, 2009.The Subordinated Debt Credit Agreement provides for a term loan facility.

  • The terms and conditions of the New First Lien Debt Facility Credit Agreement and the New UniTek Debt Credit Agreement are fair and reasonable, reflect the Debtors’ exercise of prudent business judgment consistent with their fiduciary duties, are supported by reasonably equivalent value and fair consideration, and are in the best interests of the Debtors’ Estates and their creditors.

  • Borrower grants to Lender an irrevocable power of attorney coupled with an interest for the purpose of exercising and perfecting any and all rights and remedies available to Lender at law and in equity, including, without limitation, such rights and remedies available to Lender pursuant to this Section 5.2. Section 5.3Changes in Tax, Debt, Credit and Documentary Stamp Laws.

  • Obligations under the Subordinated Debt Credit Agreement are guaranteed by Bairnco and certain of its subsidiaries, and collateralized by a subordinated priority lien on their assets.

  • Principal, interest and all fees payable under the Subordinated Debt Credit Agreement are due and payable on the scheduled maturity date, January 17, 2013.

Related to Debt Credit

  • New Credit Facility is defined in Section 9.8.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Debt Commitment Letter has the meaning set forth in Section 4.20.

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a), as supplemented by Section 6.11, as applicable.

  • Company Credit Facility means the Credit Agreement, dated as of March 24, 2016, as amended and restated as of December 14, 2017, as further amended and restated as of May 7, 2019, as further amended and restated as of September 11, 2019, and as further amended and restated as of November 12, 2019, by and among Centene, the various financial institutions named therein, as lenders, and Wells Fargo Bank, National Association, as Administrative Agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced (in whole or in part) from time to time, whether or not with the same lenders or agent.

  • Principal Credit Facility means any loan agreement, credit agreement, note purchase agreement, indenture or similar document under which credit facilities in the aggregate original principal or commitment amount of at least $20,000,000 are provided for.

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

  • Prepetition Credit Agreement has the meaning specified in the recitals hereto.

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Credit Facility shall include any agreement or instrument (1) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (2) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (3) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (4) otherwise altering the terms and conditions thereof.

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Parent Credit Agreement means the Amended and Restated Credit Agreement, dated as of February 7, 2014, among Parent, the subsidiaries of Parent from time to time party thereto, Bank of America, N.A., as administrative agent, and the other financial institutions from time to time party thereto, as amended, restated, supplemented or otherwise modified from time to time.

  • ABL Credit Facility means the agreement, dated as of March 30, 2015, among the Company, the Subsidiaries of the Company that borrow or guarantee obligations under such agreement from time to time, as “Credit Parties,” the lenders parties thereto from time to time and Bank of America, N.A., as agent (or its successor in such capacity), together with the related notes, letters of credit, guarantees and security documents, and as the same may be amended, restated, amended and restated, supplemented or modified from time to time and any renewal, increase, extension, refunding, restructuring, replacement or refinancing thereof (whether with the original administrative agent and lenders or another administrative agent, collateral agent or agents or one or more other lenders or additional borrowers or guarantors and whether provided under the original ABL Credit Facility or one or more other credit or other agreements or indentures).

  • Senior Credit Facilities means, collectively, the Senior ABL Facility and the Senior Term Facility.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Existing Letters of Credit means the letters of credit issued and outstanding under the Existing Credit Agreement as set forth on Schedule 2.22.

  • Supporting Letter of Credit has the meaning specified in Section 1.3(g).

  • Exit Facility Credit Agreement means the credit agreement, Filed with the Plan Supplement, which credit agreement shall contain terms and conditions consistent in all respects with those set forth on the Exit Facility Term Sheet and, to the extent any terms and conditions are not set forth on or contemplated therein, such other terms and conditions as are acceptable to the Special Restructuring Committee and the Majority Noteholders in the manner set forth in the Restructuring Support Agreement.

  • Revolving Credit means the credit facility for making Revolving Loans and issuing Letters of Credit described in Sections 1.1 and 1.2 hereof.

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Existing Letter of Credit means a letter of credit issued and outstanding under the Existing Credit Agreement and listed on Schedule 2.06 hereto.

  • Revolver means a short firearm having a cylinder of several chambers that are brought successively into line with the barrel to be discharged, designed to be aimed and fired by the use of a single hand.

  • Credit Facility Provider means the issuer of or obligor under a Credit Facility.

  • 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.

  • New Credit Agreement means the Credit Agreement, dated as of the Issue Date, by and among Level 3 Parent, LLC, Level 3 Financing, Inc., Wilmington Trust, National Association, as administrative agent, the New Credit Agreement Agent and each lender party thereto from time to time, as may be amended, restated, supplemented or otherwise modified from time to time.