Examples of Revolver Overadvance in a sentence
Official time may only be used on the days and during the times that a local Union official would be otherwise in a duty status.
If Borrowers fail to provide any Cash Collateral as required hereunder, Lenders may (and shall upon direction of Agent) advance, as Revolver Loans, the amount of the Cash Collateral required (whether or not the Revolver Commitments have terminated, a Revolver Overadvance exists or the conditions in Section 6 are satisfied).
Any funding of an Overadvance Loan or sufferance of a Protective Advance, US Revolver Overadvance or a Canadian Overadvance shall not constitute a waiver by the Agents or the Lenders of the Event of Default caused thereby.
No Loan Party shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business or (b) no Event of Default, US Revolver Overadvance or Canadian Revolver Overadvance exists or would result therefrom.
If the applicable Borrower fails to Cash Collateralize outstanding Letters of Credit as required herein, the Applicable Lenders may (and shall upon direction of the Applicable Agent) advance, as Base Rate Loans or Canadian Prime Rate Loans, as applicable, the amount of the Cash Collateral required (whether or not the US Revolver Commitments or Canadian Revolver Commitments have terminated, any US Revolver Overadvance or Canadian Overadvance exists, or the conditions in Section 6 are satisfied).
No Obligor shall return any Inventory to a supplier, vendor or other Person, whether for cash, credit or otherwise, unless (a) such return is in the Ordinary Course of Business; (b) no Default, Event of Default or Revolver Overadvance exists or would result therefrom; (c) Agent is promptly notified if the aggregate Value of all Inventory returned in any month exceeds $375,000; and (d) any payment received by an Obligor for a return is promptly remitted to Agent for application to the Obligations.
If a Revolver Overadvance exists at any time, each Borrower shall, subject to Section 2.01(b)(iv), on the sooner of Administrative Agent's demand or the first Business Day after such Borrower has knowledge thereof, repay Revolver Loans and/or Collateralize outstanding Letters of Credit (or any combination thereof) in an amount sufficient to reduce Revolver Usage to the then current Revolver Borrowing Base.
If a Revolver Overadvance exists at any time, each Borrower shall, subject to Section 2.01(b)(iv), on the sooner of Administrative Agent’s demand or the first Business Day after such Borrower has knowledge thereof, repay Revolver Loans in an amount sufficient to reduce Revolver Usage to the then current Revolver Borrowing Base.
The Canadian Borrower may, by prior written Notice to the Administrative Agent and the Revolving Agent, effect a Voluntary Montrovest LC Reduction; provided that, after giving pro forma effect to such Voluntary Montrovest LC Reduction, (i) no Default shall exist, and (ii) no US Revolver Overadvance or Canadian Overadvance shall have occurred.
No funding or sufferance of a Revolver Overadvance shall constitute a waiver by Administrative Agent, Swing Lender or applicable Revolver Lenders of the Event of Default caused thereby.