Formula Loans definition

Formula Loans means, collectively, loans, advances and other credit made or extended by Bank to or in favor of Debtor under or pursuant to and evidenced by the Note, together with any letters of credit issued by Bank thereunder or in connection therewith, subject to the terms and conditions of this Agreement, the Note, the Security Agreement and any other agreement(s) between Debtor and Bank (as the same may be amended, modified, extended, renewed, restated, substituted and/or replaced from time to time, the "Loan Documents").
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Formula Loans as defined in the ABL Facility Agreement as in effect on the Closing Date. “Overnight Bank Funding Rate” shall mean, for any day, the rate per annum (based on a year of 360 days and actual days elapsed) comprised of both overnight federal funds and overnight Eurocurrency borrowings by U.S. managed banking offices of depository institutions, as such composite rate shall be determined by the Federal Reserve Bank of New York, as set forth on its public website from time to time, and as published on the next succeeding Business Day as the overnight bank funding rate by such Federal Reserve Bank (or by such other recognized electronic source (such as Bloomberg) selected by Agent for the purpose of displaying such rate) (an “Alternate Source”); provided, that if such day is not a Business Day, the Overnight Bank Funding Rate for such day shall be such rate on the immediately preceding
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Formula Loans means, collectively, loans, advances and other credit made or extended by Bank to or in favor of Borrower under or pursuant to and evidenced by the Master Revolving Note, subject to the terms and conditions of this Agreement, the Master Revolving Note, the Collateral Agreements and any other agreement(s) between Borrower and Bank or by Borrower for the benefit of Bank related thereto (as the same may be amended, modified, extended, renewed, restated, substituted and/or replaced from time to time, but excluding any environmental indemnity or guaranty, the “Loan Documents”).
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Examples of Formula Loans in a sentence

  • If at any time the principal amount outstanding under the Formula Loans exceeds the then existing Borrowing Base, the Borrower shall pay to the Bank upon demand such amount (not to exceed the aggregate amount of Advances then outstanding under the Revolving Credit) as shall be required to cause the aggregate principal amount outstanding under the Formula Loans to be less than or equal to the then existing Borrowing Base.

  • Furthermore, the maximum that will be advanced against all Eligible Sublimit Loan Notes at any time (i) will not exceed $25,000,000 and (ii) shall always be less than the aggregate amount outstanding under the Formula Loans.

  • Payment for routine and monthly maintenance and for chemical products and equipment listed in the bid’s technical specifications shall be made in twelve (12) equal consecutive instalments.

  • In such a case, the second court will look to the allegations of the personal-injury complaint to determine whether a duty to defend has arisen.

  • The credit which Bank may now or hereafter extend to Debtor subject to the limitations of this Agreement and to the conditions and limitations of any other agreement between Debtor and Bank is identified as follows: Postpetition Master Revolving Note dated March , 2009 and any extensions, renewals or substitutions thereof, whether in a greater or lesser amount, including any letters of credit issued thereunder ("Formula Loans").

  • Any failure by Debtor to comply with this Agreement shall constitute a default under the Formula Loans and under the Security Agreement and the Indebtedness, as defined therein.

  • If Agent is willing in its sole and absolute discretion to make such Out- of- Formula Loans, such Out-of-Formula Loans shall be payable on demand and shall bear interest at the Default Rate for Revolving Advances consisting of Domestic Rate Loans; provided that, if Lenders do make Out-of-Formula Loans, neither Agent nor Lenders shall be deemed thereby to have changed the limits of Section 2.1(a).

  • By choosing this option, the Borrower may decide to reschedule in whole or in part the payment of the Final Maxi Instalment in accordance with the different refinancing options set out in the coupon previously sent to the Borrower by Sava.3 The Minimum Repurchase Price is applicable to Formula Loans only4 If the PCP Agreement is a “Formula Loan” the price agreed will be equal to a minimum price defined in advance at subscription of the “Formula Loan”.


More Definitions of Formula Loans

Formula Loans means as of any date of determination all Indebtedness of Borrower as of such date but only in respect of money borrowed or evidenced by a promissory note, debenture or other like obligation to pay money pursuant to which borrowings are based on Borrower's and/or its Subsidiaries' accounts receivable or inventory, including, without limitation, all Indebtedness of Borrower under this Agreement and the Revolving Credit Note (without duplication) and the Barnxxx Xxxn Agreement (including without limitation (i) the aggregate principal then outstanding under the promissory note(s) issued thereunder, (ii) the aggregate undrawn portion of any letters of credit issued thereunder then outstanding and (iii) the outstanding obligations of Borrower for
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Formula Loans means as of any date of determination all Indebtedness of Borrower as of such date but only in respect of money borrowed or evidenced by a promissory note, debenture or other like obligation to pay money pursuant to which borrowings are based on Borrower's and/or its Subsidiaries' accounts receivable or inventory, including, without limitation, all Indebtedness of Borrower under this Agreement and the Revolving Credit Note (without duplication) and the Barnett Loan Agreement (including without limitation (i) the aggregate principal then outstanding under the promissory note(s) issued thereunder, (ii) the aggregate undrawn portion of any letters of credit issued thereunder then outstanding and (iii) the outstanding obligations of Borrower for
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Formula Loans means, collectively, loans (including Swing Line Loans), advances and other credit made or extended by Lenders to or in favor of Borrower under or pursuant to and evidenced by the Master Revolving Notes, subject to the terms and conditions of this Agreement, the Master Revolving Notes, the Collateral Agreements and any other agreement(s) among Borrower, Agent and Lenders or by Borrower for the benefit of Agent and Lenders related thereto (as the same may be amended, modified, extended, renewed, restated, substituted and/or replaced from time to time, but excluding any environmental indemnity or guaranty, the “Loan Documents”).
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Formula Loans means any Loans made with regards to the Borrowing Base.
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Related to Formula Loans

  • Domestic Loans means CD Loans or Base Rate Loans or both.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Revolving Loans shall have the meaning assigned to such term in Section 2.1(a).

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Pending Revolving Loans means, at any time, the aggregate principal amount of all Revolving Loans requested in any Notice of Borrowing received by the Agent which have not yet been advanced.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Other Revolving Loans shall have the meaning assigned to such term in Section 2.21.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • U.S. Loans means, individually and collectively as the context may require, the U.S. Revolving Loans, the U.S. Swingline Loans, the U.S. Overadvances, and the U.S. Protective Advances.

  • Base Rate Loans Loans the rate of interest applicable to which is based upon the Base Rate.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Revolving Loan Notes means the promissory notes of the Borrower provided pursuant to Section 2.1(e) in favor of any of the Revolving Lenders evidencing the Revolving Loan provided by any such Revolving Lender pursuant to Section 2.1(a), individually or collectively, as appropriate, as such promissory notes may be amended, modified, extended, restated, replaced, or supplemented from time to time.

  • Committed Loans means loans made pursuant to Section 2.1(a).

  • LIBOR Rate Loans means Loans bearing interest at a rate based on the LIBOR Base Rate or LIBOR Rate, as applicable.

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Canadian Prime Rate Loans means any Canadian Dollar Revolving Loan during the period which it bears interest at a rate determined by reference to the Canadian Prime Rate.

  • Prime Rate Loans means any Loans or portion thereof on which interest is payable based on the Prime Rate in accordance with the terms thereof.

  • Swing Loans each is defined in Section 1.7 hereof.

  • Borrowings means the plural thereof.

  • Group I Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group I Loans.

  • New Revolving Loans as defined in Section 2.25.