Maximum Borrowing Amount definition

Maximum Borrowing Amount means, at any time, the lesser of (i) the aggregate Revolving Commitments at such time and (ii) the Borrowing Base at such time (as determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 6.01(j).

Maximum Borrowing Amount means the lesser of (A) the Aggregate Revolving Credit Commitments minus the Line Reserves, if any and (B) the Borrowing Base.

Maximum Borrowing Amount means, with respect to a Funding Date, an amount equal to the product of (a) the related Funding Date Advance Rate and (b) the aggregate Loan Balance of all related Funding Date Timeshare Loans.

Examples of Maximum Borrowing Amount in a sentence

• Subject to the terms and conditions hereof, the Issuer shall issue or cause the issuance of letters of credit (“Letters of Credit”) on behalf of the Borrowers; provided, however, that the Issuer will not be required to issue or cause to be issued any Letters of Credit to the extent that the face amount of such Letters of Credit would then cause the Revolving Exposure to exceed the Maximum Borrowing Amount.

• Subject to Section 4.4, the Revolving Exposure outstanding at any time shall not exceed the Maximum Borrowing Amount.

• In the case of any Advances requested to be made, after giving effect thereto, the aggregate Revolving Exposure shall not exceed the Maximum Borrowing Amount.

• If the Revolving Exposure at any time exceeds the Maximum Borrowing Amount (such amount, an “Overadvance”), subject to Section 4.4, such excess shall be immediately due and payable without the necessity of any demand, at the Payment Office, whether or not a Default or Event of Default has occurred.

• Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Loans to the Borrowers in aggregate amounts outstanding at any time prior to the Facility Termination Date equal to such Xxxxxx’s Commitment Percentage of the Maximum Borrowing Amount minus such Xxxxxx’s Commitment Percentage of the Letter of Credit Exposure minus the principal amount of such Xxxxxx’s Commitment Percentage of the Swing Line Loans outstanding at such time.

More Definitions of Maximum Borrowing Amount

Maximum Borrowing Amount means, at any time, an amount equal to the lesser of (a) the Aggregate Revolving Commitment and (b) the Borrowing Base.

Maximum Borrowing Amount means, at any time, the lesser of (a) the Aggregate Commitments at such time and (b) the Borrowing Base at such time.

Maximum Borrowing Amount at any time of determination, the lesser of (1) the Borrowing Base and (2) the aggregate Commitments hereunder, at such time.

Maximum Borrowing Amount means $93,789,000, as such amount may be subsequently reduced from time to time pursuant to Section 2.05 or increased up to an amount not to exceed the Aggregate Commitments with the written consent of the Required Lenders.

Maximum Borrowing Amount means, on any date of determination, an amount equal to the lesser of (x) the amount of the Aggregate Commitments in effect on such date and (ii) the Borrowing Base on such date.

Maximum Borrowing Amount means, at any time, an amount equal to the lesser of (i) the Aggregate Revolving Commitment minus all Reserves then in effect (without duplication of Reserves used in calculating the Aggregate Borrowing Base (to the extent such Reserves are applicable to the calculation in this clause (i)), or (ii) the Aggregate Borrowing Base.

Maximum Borrowing Amount means (a) between the Fifth Amendment Date and February 28, 2005, $39,000,000 for Loans (excluding Letters of Credit and Bankers Acceptances) and $6,000,000 for Letters of Credit and Bankers Acceptances; and (b) between March 1, 2005 and March 31, 2005, $50,000,000 for Loans (excluding Letters of Credit and Bankers Acceptances) and $6,000,000 for Letters of Credit and Bankers Acceptances.