Aggregate Borrowing Limit; Overadvances Clause Samples
Aggregate Borrowing Limit; Overadvances. The aggregate amount of outstanding Credit Extensions hereunder shall at no time exceed the Aggregate Borrowing Limit. If the aggregate amount of Credit Extensions hereunder exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess. If the aggregate amount of the outstanding Formula Advances (inclusive of any amounts outstanding under the Ancillary Services Sublimit) exceeds the lesser of the Formula Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess. If the aggregate outstanding amount used for Ancillary Services exceeds the Ancillary Services Sublimit, Borrower shall immediately pay to Bank, in cash, the amount of such excess.
5) Sections 2.3(a)(i) and (ii) are hereby amended and restated as follows:
Aggregate Borrowing Limit; Overadvances. At no time will the aggregate outstanding Credit Extensions exceed the Aggregate Borrowing Limit. If (a) the aggregate amount of the outstanding Formula Revolving Advances plus the Ancillary Services Usage Amount exceeds the lesser of the Formula Revolving Line or the Borrowing Base at any time, (b) the Ancillary Services Usage Amount exceeds the Ancillary Services Sublimit at any time, (c) the aggregate amount of the outstanding Term Loan Tranche 1 Advances plus the aggregate amount of any outstanding Term Loan Tranche 2 Advances exceeds the Term Loan at any time, or (d) if the aggregate amount of Credit Extensions exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.
Aggregate Borrowing Limit; Overadvances. The aggregate amount of the outstanding Credit Extensions shall at no time exceed the Aggregate Borrowing Limit. If the aggregate amount of the outstanding Advances exceeds the lesser of the Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.
Aggregate Borrowing Limit; Overadvances. The aggregate amount of outstanding Credit Extensions hereunder shall at no time exceed the Aggregate Borrowing Limit. If the aggregate amount of the outstanding Formula Advances exceeds the lesser of the Formula Revolving Line or the Borrowing Base at any time, Borrower shall immediately pay to Bank, in Cash, the amount of such excess. If the aggregate amount of the outstanding Non-Formula Advances exceeds the Non-Formula Revolving Line at any time, Borrower shall immediately pay to Bank, in Cash, the amount of such excess. If the aggregate amount of outstanding Tranche A Advances exceeds the Tranche A Limit at any time, Borrower shall immediately pay to Bank, in Cash, the amount of such excess. If the aggregate amount of outstanding Tranche B Advances exceeds the Tranche B Limit at any time, Borrower shall immediately pay to Bank, in Cash, the amount of such excess. If the aggregate amount of outstanding Credit Extensions hereunder exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay to Bank, in Cash, the amount of such excess.
Aggregate Borrowing Limit; Overadvances. At no time will the aggregate outstanding Credit Extensions exceed the Aggregate Borrowing Limit. If (a) the aggregate amount of the outstanding Non-Formula Revolving Line Advances plus the Ancillary Services Usage Amount exceeds the Non-Formula Revolving Line at any time, (b) the aggregate amount of the outstanding Term Loan Advances exceeds the Term Loan at any time, or (c) the aggregate amount of Credit Extensions exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.
Aggregate Borrowing Limit; Overadvances. The aggregate amount of outstanding Credit Extensions hereunder shall at no time exceed the Aggregate Borrowing Limit. If the aggregate amount of outstanding Credit Extensions hereunder exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess. If the aggregate amount of the outstanding Non-Formula Advances (including any amounts outstanding under the Ancillary Services Sublimit) exceeds the Non-Formula Revolving Line at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.”
5. Section 2.3(a) of the Agreement hereby is amended and restated in its entirety to read as follows:
Aggregate Borrowing Limit; Overadvances. The aggregate amount of outstanding Credit Extensions hereunder shall at no time exceed the Aggregate Borrowing Limit. If
(a) the aggregate amount of the outstanding Non-Formula Advances exceeds the Non-Formula Revolving Line at any time or (b) the Ancillary Services Usage Amount exceeds the Ancillary Services Sublimit at any time, Borrower shall immediately pay in cash to Agent, for the benefit of the Lenders, the amount of such excess. If the aggregate amount of outstanding Credit Extensions hereunder exceeds the Aggregate Borrowing Limit at any time, Borrower shall immediately pay in cash to Agent, for the benefit of the Lenders, the amount of such excess.