Bank Product Debt. Debt that is in existence when a Person becomes a Subsidiary or that is secured by an asset when acquired by a Borrower or Subsidiary, as long as such Debt was not incurred in contemplation of such Person becoming a Subsidiary or such acquisition, and does not exceed $500,000 in the aggregate at any time;
Bank Product Debt. Debt and other obligations of a Borrower or Guarantor relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Bank Product Debt, which shall be at least equal to the sum of all Bank Product Amounts.
Bank Product Debt. Except as otherwise expressly set forth herein or in any Collateral Document, no Lender or Affiliate thereof that is owed any Bank Product Debt that obtains the benefits of Section 8.03, any Guaranty or any Collateral by virtue of the provisions hereof or of any Collateral Document shall have any right to notice of any action or to consent to, direct or object to any action hereunder or under any other Loan Document or otherwise in respect of the Collateral (including the release or impairment of any Collateral) other than in its capacity as a Lender and, in such case, only to the extent expressly provided in the Loan Documents. Notwithstanding any other provision of this Article IX to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect to, Bank Product Debt unless the Administrative Agent has received written notice of such Bank Product Debt, together with such supporting documentation as the Administrative Agent may request, from the applicable Lender or Affiliate, as the case may be.
Bank Product Debt. Debt and other obligations of a Loan Party or any of its Subsidiaries relating to Bank Products. Bank Product Document: any agreement, instrument or other document entered into in connection with any Bank Product Debt.
Bank Product Debt. Debt and other obligations of a Loan Party relating to Bank Products; provided, that Bank Product Debt of a Loan Party shall not include its Excluded Swap Obligations.
Bank Product Debt. Debt and other obligations of Borrower or a Subsidiary relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Bank Product Debt. Bankruptcy Code: Title 11 of the United States Code. Base Rate: the rate of interest announced by Bank of America from time to time as its prime rate. Such rate is a rate set by Bank of America based upon various factors including its costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above or below such announced rate. Any change in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.
Bank Product Debt. Debt and other obligations of a Borrower relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Secured Bank Product Obligations. Bankruptcy Code: Title 11 of the United States Code. Base Rate: for any day, a per annum rate equal to the greatest of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; and (c) LIBOR for a 30 day interest period as determined on such day, plus 1.50%.
Bank Product Debt. (a) all Debt, obligations, liabilities, reimbursement obligations, fees, or expenses owing by any Obligor or Subsidiary to any Bank Product Provider pursuant to or evidenced by a Bank Product Agreement and irrespective of whether for the payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, (b) any and all Debt, obligations or liabilities, whether absolute or contingent, due or to become due, now existing or hereafter arising, of any Obligor or Subsidiary arising under, owing pursuant to, or existing in respect of Hedging Agreements entered into with one or more of the Bank Product Providers, and (c) all amounts that Agent or any Lender is obligated to pay to a Bank Product Provider as a result of Agent or such Lender purchasing participations from, or executing guarantees or indemnities or reimbursement obligations to, a Bank Product Provider with respect to the Bank Products provided by such Bank Product Provider to any Obligor or Subsidiary; provided, however, in order for any item described in clauses (a), (b), or (c) above, as applicable, to constitute “Bank Product Debt”, (i) if the applicable Bank Product Provider is Xxxxx Fargo or its Affiliates, then, if requested by Agent, Agent shall have received a Bank Product Provider Letter Agreement within 10 days after the date of such request, or (ii) if the applicable Bank Product Provider is any other Person, the applicable Bank Product must have been provided on or after the Closing Date and Agent shall have received a Bank Product Provider Letter Agreement within 10 days after the date of the provision of the applicable Bank Product to any Obligor or Subsidiary. Bank Product Provider: a Lender or an Affiliate of a Lender that provides Bank Products to a Borrower.
Bank Product Debt. From and after the delivery of this letter agreement to Agent and the acknowledgement of this letter agreement by Agent, the obligations and liabilities of Borrowers to Specified Bank Product Provider in respect of Bank Products evidenced by the Specified Bank Product Agreement[s] shall constitute Bank Product Debt and Specified Bank Product Provider shall constitute a Bank Product Provider.
Bank Product Debt. Indebtedness and other obligations of a Loan Party or any of its Subsidiaries relating to Bank Products. Bank Product Document: any agreement, instrument or other document entered into in connection with any Bank Product Debt. Base Rate: Canadian Base Rate, Eurasian Base Rate and/or U.S. Base Rate, as the context requires. Base Rate Loan: an Australian Base Rate Loan, Belgian Base Rate Loan, Canadian Base Rate Loan, Dutch Base Rate Loan, New Zealand Base Rate Loan, Norwegian Base Rate Loan, Singapore Base Rate Loan, UK Base Rate Loan and/or U.S. Base Rate Loan, as the context requires. Belgian Allocated U.S. Availability: U.S. Availability designated by the North American Loan Party Agent for application to clause (c) of a Belgian Borrowing Base. Belgian Availability: as of any date of determination, (a) the lesser of (i) the Belgian Revolver Commitments minus all Belgian LC Obligations as of such date of determination and (ii) the Total Belgian Borrowing Base as of such date of determination, minus (b) the Dollar Equivalent of the principal balance of all Belgian Revolver Loans.
