Revolving Credit Debt definition

Revolving Credit Debt. At any time, the lesser of (a) or (b), where

Revolving Credit Debt means any borrowing by the Company under a revolving credit facility, provided the amount of Debt owed thereunder is required to be or is reduced to zero for at least thirty (30) consecutive days during the fiscal year in which such facility is established.

Revolving Credit Debt has the meaning set forth in Section 8.1.

Examples of Revolving Credit Debt in a sentence

• The Borrower shall use the proceeds of the Facility B Revolving Credit Debt solely (i) for general corporate purposes and (ii) to provide working capital in the ordinary course of its business, including, without limitation, to fund receivables and the purchase of inventory.

• The Revolving Credit Debt Documents constitute the legal, valid and binding obligations of the Credit Parties, enforceable against the Credit Parties in accordance with the terms thereof.

• The Credit Parties have the power and authority to incur the Indebtedness pursuant to the Revolving Credit Debt Documents and have duly authorized, executed and delivered the Revolving Credit Debt Documents.

• As of the Second Amendment Effective Date, the outstanding principal balances of the Revolving Credit Debt, exclusive of any outstanding letters of credit, is $0, and all Revolving Credit Loan Documents have been delivered to the Lenders prior to the Effective Date.

• The term "Initial Yield to Maturity" shall mean the Yield to Maturity on all Senior Indebtedness then outstanding calculated on the basis of the Bank Credit Agreement as in effect on the date of this Agreement but assuming that any Revolving Credit Debt has a maturity 5 years from the date of computation.

More Definitions of Revolving Credit Debt

Revolving Credit Debt means the indebtedness and other liabilities owing pursuant to any Revolving Credit Loan Documents at any time.

Revolving Credit Debt means, at any time, the sum of the Tosco Revolving Credit Debt, PLUS the TEL Revolving Credit Debt, plus the Bayway Revolving Credit Debt outstanding at such time.

Revolving Credit Debt. At any time, the lesser of (a) or (b), where (a) is $275,000,000.00. (b) is Indebtedness of the Borrowers on account of loans and advances under the Revolving Credit which Indebtedness, when incurred or when Acceleration takes place, is within amounts available to be borrowed under the Revolving Credit or constitutes Protective OverAdvances, as reflected on the Borrowing Base Certificate (if any) in reliance on which the subject loan or advance was made, it being understood that, (i) in the absence of manifest computational error by the Lead Borrower, the Administrative Agent may rely on, and Term Lender shall be bound by, the determination of such availability as reflected on such Borrowing Base Certificate, and (ii) the status of indebtedness as "Revolving Credit Debt" is determined without regard to any subsequent declination in the appraised value of the Inventory or other assets on which such availability had been so determined, and (iii) the occurrence of a Term Loan Availability Breach, in and of itself, shall not affect the status of indebtedness as

Revolving Credit Debt. (For purposes of the determination of whether a loan or advance to cover the honoring of a L/C constitutes "Revolving Credit Debt", the date of issuance of the subject L/C shall constitute the date on which the subject indebtedness was incurred).

Revolving Credit Debt. Section 9.2.2 "Security Agreement" Section 6.5 "Senior Subordinated Notes" Section 2.1.1 "Specified Related Agreements" Section 4.3.2 "Subject Securities" Section 8.7 "Tag-Along Agreement" Section 6.7 "Warrants" Section 2.2 Certain other terms are defined in the Exhibits hereto and are used therein with the meanings so defined.

Revolving Credit Debt means the Facility A Revolving Credit Debt and/or the Facility B Revolving Credit Debt, as the context may require.

Revolving Credit Debt. At any time, the lesser of (a) or (b), where (a) is $120,000,000.00.