Maximum Revolving Loan Limit definition

Maximum Revolving Loan Limit shall have the meaning specified in subsection 2(a) hereof.

Maximum Revolving Loan Limit shall have the meaning specified in Subsection 2(a) hereof.

Maximum Revolving Loan Limit means the total of all advances outstanding at any one time under the Revolving Loan, which at no time shall exceed Nineteen Million Five Hundred Thousand and No/100 Dollars ($19,500,000).

Examples of Maximum Revolving Loan Limit in a sentence

• In addition, Borrower may at any time, upon at least thirty (30) days prior written notice to Administrative Agent and Lenders, elect to reduce the Maximum Revolving Loan Limit, which reduction shall reduce each Lender’s Revolving Loan Commitment on a pro rata basis in accordance with its Pro Rata Share; provided that any such reduction shall be in a minimum amount of Five Million Dollars ($5,000,000) and in integrals of Five Hundred Thousand Dollars ($500,000) above such amount.

• Borrower shall pay to Lender an unused line fee equal to the Applicable Margin for the unused line fee multiplied by the difference between (a) the Maximum Revolving Loan Limit and (b) the average daily balance of the Revolving Loans plus the Letter of Credit Obligations for each month, which fee shall be fully earned by Lender and payable monthly in arrears on the first day of each month.

• At no time shall a Borrower borrow amounts under the Revolving Loan which in the aggregate exceed its respective Revolving Availability and in no event shall the amounts borrowed by Borrowers in the aggregate at any time exceed the Maximum Revolving Loan Limit.

• Borrower shall pay to Agent, for the benefit of Lenders, an unused line fee of three-eighths of one percent (0.375%) per annum of the difference between the Maximum Revolving Loan Limit in effect at such time and the sum of (x) the average daily balance of the Revolving Loans plus (y) the Letter of Credit Obligations for each month, which fee shall be fully earned by Lenders and payable monthly in arrears on the last Business Day of each month for the month or portion thereof.

• Borrower shall pay to Lender an unused line fee of one-half percent (0.50%) per annum of the difference between the Maximum Revolving Loan Limit and the average daily balance of the Revolving Loans for each month, which fee shall be fully earned by Lender and payable monthly in arrears on the first Business Day of each month.

More Definitions of Maximum Revolving Loan Limit

Maximum Revolving Loan Limit means, with respect to each requested advance of Revolving Loans, the lesser of (a) the Applicable Revolving Loan Advance Limit (as calculated pursuant to the Borrowing Base Certificate delivered to the Agent on the date of borrowing of such advance and calculating the Applicable Revolving Loan Advance Limit no earlier than one (1) Business Day prior to the date of such borrowing) then in effect and (b) the Aggregate Revolving Loan Commitment as of such date.

Maximum Revolving Loan Limit means, at any time, an amount equal to Seven Million Five Hundred Thousand Dollars ($7,500,000).

Maximum Revolving Loan Limit set forth in Section 1(a) of the Loan Agreement shall be and is hereby amended to read, in its entirety, as follows: ""Maximum Revolving Loan Limit" shall mean $6,000,000." Even though the Revolving Loan Note made by Borrowers to Lender is for the face amount of $10,000,000, the Revolving Loan Limit and Maximum Revolving Loan Limit shall not exceed $6,000,000.

Maximum Revolving Loan Limit shall have the meaning specified in subsection 2(a) hereof as such amount may be decreased from time to time in accordance with the terms of this Agreement.

Maximum Revolving Loan Limit shall have the meaning specified in Section 2.01 hereof as amended in accordance with this Agreement.

Maximum Revolving Loan Limit means $1,250,000.”

Maximum Revolving Loan Limit. Net Worth," "Subordinated Debt" and "Term Loans" in their entirety and substituting in lieu thereof the following definitions (in alphabetical order):