PNC Facility definition

PNC Facility means the facility evidenced by that certain Amended and Restated Credit Agreement, dated as of the date hereof, among the Borrower, the Parent REIT, certain lenders party thereto, and PNC Bank, National Association, as administrative agent (as the same may be amended, restated, modified or supplemented from time to time).
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PNC Facility means the Amended and Restated Reimbursement Agreement, dated as of June 20, 1997, as amended, by and among Bevexxx Xxxlth, Bevexxx Xxxerprises - Massachusetts, Inc., Bevexxx Xxxerprises - Pennsylvania, Inc. and Bevexxx Xxxerprises - Ohio, Inc. as Borrowers therein and PNC Bank, National Association as the Issuer of Letter of Credit therein.
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PNC Facility. The aggregate principal amount of indebtedness outstanding under the PNC Credit Facility is $0. The aggregate commitment of the lender under the PNC Credit Facility is $40,000,000, which is subject to a borrowing base, which is $40,000,000.
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Examples of PNC Facility in a sentence

  • The PNC Facility has a fixed and floating charge on the assets of the Group.

  • EBITDA as defined in the PNC Facility shall mean for any period the sum of (i) earnings before interest and taxes for such period plus (ii) depreciation expenses for such period, plus (iii) amortization expenses for such period, plus (iv) non-cash charges.

  • Upon learning of the PNC Facility and InterCloud’s amendment of its loan agreement with MidMarket, White Winston demanded that InterCloud furnish the break- up fee.

  • Amounts borrowed under the PNC Facility may be used by Hudson for working capital needs and to reimburse drawings under letters of credit.

  • The PNC Facility contains certain financial and non-financial covenants relating to Hudson, including limitations on Hudson’s ability to pay dividends on common stock or preferred stock, and also includes certain events of default, including payment defaults, breaches of representations and warranties, covenant defaults, cross-defaults to other obligations, events of bankruptcy and insolvency, certain ERISA events, judgments in excess of specified amounts, impairments to guarantees and a change of control.

  • The PNC Facility contains a financial covenant to maintain at all times a Fixed Charge Coverage Ratio of not less than 1.10 to 1.00, tested quarterly on a rolling twelve month basis.

  • Hudson granted to PNC, for itself, and as agent for such other lenders as thereafter may become a lender under the PNC Facility, a security interest in Hudson’s receivables, intellectual property, general intangibles, inventory and certain other assets.

  • Under the terms of the PNC Facility, as amended by the First Amendment to the PNC Facility, dated February 15, 2013, Hudson may borrow up to a maximum of $40,000,000 consisting of a term loan in the principal amount of $4,000,000 and revolving loans in a maximum amount up to $36,000,000.

  • On June 22, 2012, a subsidiary of Hudson entered into a Revolving Credit, Term Loan and Security Agreement (the “PNC Facility”) with PNC Bank, National Association, as agent (“Agent” or “PNC”), and such other lenders as may thereafter become a party to the PNC Facility.

  • Fees and expenses relating to the creation of the PNC Facility of approximately $112,000 are being amortized over the life of the loan.


More Definitions of PNC Facility

PNC Facility shall have the meaning set forth in Section 5.15.
Sample 1
PNC Facility means the Amended and Restated Reimbursement Agreement, dated as of June 20, 1997, as amended, by and among Beverly Health, Beverly Enterprises - Massachusetts, Inc., Beverly Exxxxxxxses - Penxxxxxxxia, Inc. and Beverly Enterprises - Oxxx, Xxc. as Borrowers therein and PNC Bank, Xxxxxxxl Association as the Issuer of Letters of Credit therein.
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Related to PNC Facility

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • LC Facility means the letter of credit facility established pursuant to Article III.

  • Public facility means 1 or more of the following:

  • Revolver Facility means the credit facility as described in and subject to the limitations set forth in Section 2.01.

  • Electric Facility means a Generator or an electric transmission facility.

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Facility means any real property (including all buildings, fixtures or other improvements located thereon) now, hereafter or heretofore owned, leased, operated or used by Holdings or any of its Subsidiaries or any of their respective predecessors or Affiliates.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • 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.

  • Bank Facility means any credit agreement, including the Existing Credit Agreement, together with the related documents thereto (including, without limitation, any guarantee agreements and security documents), in each case as such agreements may be amended (including any amendment and restatement thereof), supplemented or otherwise modified from time to time, including one or more credit agreements, loan agreements or similar agreements or indentures extending the maturity of, refinancing, replacing or otherwise restructuring (including increasing the amount of available borrowings thereunder or adding Restricted Subsidiaries of the Borrower as additional borrowers or guarantors thereunder) all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements and whether by the same or any other agent, holders, lender or group of lenders.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Bank Facilities means any overdraft limits or credit facility available to you and their associated terms;

  • Tranche B Facility means the aggregate of the Tranche B Commitments.

  • LNG facility means a terminal which is used for the liquefaction of natural gas or the importation, offloading, and re-gasification of LNG, and includes ancillary services and temporary storage necessary for the re-gasification process and subsequent delivery to the transmission system, but does not include any part of LNG terminals used for storage;

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $50,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

  • Revolving Credit Facilities means the collective reference to the Dollar Revolving Credit Facility and the Alternative Currency Revolving Credit Facility.

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Exit Facility Lenders means each of the lenders under the Exit Facility Credit Agreement, solely in their respective capacities as such.

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.

  • Bridge Facility means the Commitments and any Advances made thereunder.