Maximum Revolving Loan Amount definition

Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

Maximum Revolving Loan Amount has the meaning assigned to that term in subsection 2.1(B).

Maximum Revolving Loan Amount means, at any time of determination, the lesser of (a) the Aggregate Revolving Commitments, or (b) the Borrowing Base; provided that, until the Final Order Entry Date, the Maximum Revolving Loan Amount shall not exceed $32,300,000.

Examples of Maximum Revolving Loan Amount in a sentence

• At any time that the Revolving Exposure exceeds the Maximum Revolving Loan Amount, Borrowers shall immediately and without notice or demand of any kind, (i) repay that portion of the unpaid principal balance of the Revolving Loan in an amount equal to such excess, and (ii) if any such excess remains after the Revolving Loan has been reduced to zero, cash collateralize the LC Exposure by making a deposit to the LC Collateral Account in an amount sufficient to eliminate such excess.

• A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit, Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $7,500,000, and (ii) the Revolving Exposure shall not exceed the Maximum Revolving Loan Amount.

• Bank agrees to make Revolving Advances to Borrowers on a revolving basis (the “Revolving Loan”) from time to time from and after the Closing Date until the Revolving Loan Maturity Date; provided that, after giving effect to such Revolving Advances, the Revolving Exposure will not in the aggregate exceed the Maximum Revolving Loan Amount.

• Until the Revolving Loan Maturity Date, Borrowers may borrow, repay and reborrow under the Revolving Note on any Business Day, provided that Borrowers shall not be entitled to receive and Bank shall not be obligated to make any Revolving Advance: (i) if the conditions stated in Section 6.01 of this Agreement have not been fulfilled; or (ii) if after making such Revolving Advance the Revolving Exposure would exceed the Maximum Revolving Loan Amount.

More Definitions of Maximum Revolving Loan Amount

Maximum Revolving Loan Amount means at any time the aggregate amount of the Revolving Loan Commitments held by all Lenders at such time.

Maximum Revolving Loan Amount means Ten Million and No/100 Dollars ($10,000,000).

Maximum Revolving Loan Amount set forth in Section 1.01 of the Existing Reimbursement Agreement is hereby amended and restated to read in its entirety as follows:

Maximum Revolving Loan Amount means $75,000,000.

Maximum Revolving Loan Amount means $100,000,000.

Maximum Revolving Loan Amount means the Maximum Facility, plus the Supplemental Amount (upon compliance with Section 2.11 hereof), less the outstanding principal balance of the Term Loans.

Maximum Revolving Loan Amount means $50,000,000.