Unintentional Overadvance definition

Unintentional Overadvance means an Overadvance which, to the Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base or misrepresentation by the Loan Parties.

Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base or misrepresentation by the Loan Parties.

Unintentional Overadvance has the meaning provided therefor in the ABL Credit Agreement.

Examples of Unintentional Overadvance in a sentence

• Between settlement dates, Agent may in its discretion apply payments on Revolver Loans to any existing Unintentional Overadvance or Swingline Loan, regardless of any designation by Borrowers or anything herein to the contrary.

• If an Unintentional Overadvance or a Swingline Loan cannot be settled among Lenders, whether due to an Obligor’s Insolvency Proceeding or for any other reason, each Lender shall pay the amount of its participation in the Loan relating to such Unintentional Overadvance or Swingline Loan to Agent, in immediately available funds, within one Business Day after Agent’s request therefor.

• Each Lender shall be obligated to settle with Agent as provided in Section 4.1.3 for the amount of such Lender’s Pro Rata Share of any Unintentional Overadvance.

• Unintentional Overadvance: as defined in Section 2.1.5. Unused Line Fee Rate: a per annum rate equal to (a) 0.30%, if the average daily balance of Loans and stated amount of Letters of Credit was<Total Outstandings were> less than 40% of the Aggregate Commitments during the preceding Fiscal Quarter, or (b) 0.25%, if such average daily balance was<Total Outstandings were> 40% or more of the Aggregate Commitments during the preceding Fiscal Quarter.

• Each Unintentional Overadvance shall be deemed to be a Revolver Loan hereunder.

More Definitions of Unintentional Overadvance

Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Secured Parties, including (a) a reduction in the Appraised Value Percentage, (b) components of the Revolving Borrowing Base, the FILO A Borrowing Base or the FILO B Borrowing Base on any date thereafter being deemed ineligible, (c) the imposition of, or increase in, the Availability Reserve or any FILO Deficiency Reserve or a reduction in advance rates after the funding of any Loan or advance or the issuance, renewal or amendment of a Letter of Credit, (d) the return of uncollected checks or other items of payment applied to the reduction of Loans or other similar involuntary or unintentional actions, or (e) any misrepresentation by the Loan Parties.

Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Agents and the Lenders, including, without limitation, a reduction in the Appraised Value of property or assets included in the Domestic Borrowing Base, the Tranche A-1 Borrowing Base or the Canadian Borrowing Base or a misrepresentation by the Credit Parties.

Unintentional Overadvance means an Overadvance, which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Administrative Agent, including, without limitation, (a) a reduction in the Appraised Value of property or assets included in the Revolving Borrowing Base or the FILO Borrowing Base, (b) components of the Revolving Borrowing Base or the FILO Borrowing Base on any date thereafter being deemed ineligible, (c) the imposition of, or increase in, any Reserve, the FILO Deficiency Reserve or the FILO Seasonal Reserve or a reduction in advance rates after the funding of any Loan or advance or the issuance, renewal or amendment of a Letter of Credit, (d) the return of uncollected checks or other items of payment applied to the reduction of Loans or other similar involuntary or unintentional actions, or (e) any misrepresentation by the Loan Parties.

Unintentional Overadvance means any Overadvance (as defined in the Revolving Credit Agreement) which did not constitute an Overadvance at the time when made, but has become an Overadvance as a result of changed circumstances beyond the control of the Revolving Credit Agent or the Revolving Credit Secured Parties (such as a reduction in the collateral value of the assets included in the Tranche A Borrowing Base or Tranche A-1 Borrowing Base (each as defined in the Revolving Credit Agreement), as applicable, or by a misrepresentations by the Company or its Subsidiaries).

Unintentional Overadvance means an Overadvance which, to the Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed

Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, (a) a reduction in the appraised value of property or assets included in the Borrowing Base, (b) components of the Borrowing Base on any date thereafter being deemed ineligible, (c) the imposition of, or increase in, any Reserve or a reduction in advance rates after the funding of any Loan or advance or the issuance, renewal or amendment of a Letter of Credit, (d) the return of uncollected checks or other items of payment applied to the reduction of Loans or other similar involuntary or unintentional actions, or (e) any misrepresentation by the Loan Parties.

Unintentional Overadvance or “Term Loan Reserve”, each as set forth in the ABL Credit Agreement, in a manner which would effect an increase in the ABL Borrowing Base or any component thereof;