Operating Facility. The licensed business at each Leased Premises is a Retail Marijuana Store, as defined in the Marijuana Code in Colorado, or a marijuana retailer, as defined by the Marijuana Code in Oregon, depending on the state in which the Acquired Corporation operates.
Operating Facility. Subject to Sections 3.3(b)(iv) and 3.3(b)(v), the undrawn portion of the Operating Facility Commitment Amount will be automatically cancelled at 5:01 p.m. (Toronto time) on the then current Conversion Date in respect of the Operating Lender. Effective at such time on such Conversion Date, the Operating Facility will cease to be a revolving type facility, and unless unconditionally and irrevocably repaid in accordance with Section 3.3(b)(v)(A), will become a one year non-revolving term loan facility, repayable in accordance with Section 3.6(b)(ii).
Operating Facility. Subject to this Agreement, the Operating Lender hereby agrees to establish in favour of the Borrower a revolving credit facility (such facility, the “Operating Facility”) in a maximum aggregate principal amount not to exceed the Operating Commitment (or the Equivalent Amount in US Dollars), to be made available in accordance with this Agreement until the Operating Facility Maturity Date.
Operating Facility. The Borrower shall pay to the Operating Lender a standby fee in Cdn. Dollars calculated at a rate per annum equal to the Applicable Margin (based on a year of 365 days) on the amount, if any, for each day by which the amount of the Outstanding Principal under the Operating Facility is less than the Operating Commitment. Fees determined in accordance with this Section 4.6(b) shall accrue daily from the first day of each Fiscal Quarter until the last day of each Fiscal Quarter and be payable quarterly in arrears on the fifth Banking Day of each Fiscal Quarter and following receipt of a written notice from the Agent setting out the amount of such fee, until the earlier of (i) cancellation in full of the undrawn portion of the Operating Facility and (ii) the Operating Facility Maturity Date. In order to calculate the daily Outstanding Principal under this Section 4.6(b) for any day in a calendar quarter, the Operating Lender shall convert any Operating Loans in US Dollars into the Equivalent Amount of Cdn. Dollars.
Operating Facility. Subject to the terms and conditions hereof and effective on the Amendment and Restatement Date, the Operating Lender hereby establishes the Operating Facility in favour of the Borrower. Accommodations under the Operating Facility may be drawn down, repaid and redrawn from time-to-time by the Borrower during the Revolving Period in Canadian Dollars or the Canadian Dollar Exchange Equivalent thereof in U.S. Dollars, or any combination thereof, to a maximum of the Operating Facility Commitment Amount.
Operating Facility. The Operating Lender hereby establishes the Operating Facility in favour of the Borrower as a revolving credit facility. Accommodations under the Operating Facility may be drawn down by the Borrower during the Revolving Period in accordance with Section 3.8 in Canadian Dollars, or the Exchange Equivalent thereof in U.S. Dollars, or any combination thereof, to a maximum of the Operating Facility Commitment Amount, subject to Section 3.1(c). The Operating Facility is a revolving facility and amounts repaid thereunder (including by way of overdraft borrowings) may be re-borrowed. The Operating Facility Commitment Amount of the Operating Facility Lender is set out in Schedule B.
Operating Facility. (a) Subject to the provisions of this Agreement, the Operating Facility Lenders agree to provide a revolving credit facility (the "Operating Facility") under which the Borrowers may borrow, repay and reborrow an aggregate principal amount up to the Operating Facility Limit; provided that the obligation of each Operating Facility Lender to make Advances under the Operating Facility shall be several and shall not exceed its Proportionate Share of the Operating Facility Commitment.
(b) At the option of the Borrowers, the Operating Facility may be used by requesting Prime Rate Advances, US Base Rate Advances, BA Advances from the Operating Facility Lenders. In addition, the Borrowers may make Drawdowns and Rollovers under the Operating Facility by way of Letters of Credit denominated in Canadian Dollars or United States Dollars; provided that, the Face Amount of all unexpired Letters of Credit under and as a sublimit of the Operating Facility (determined at the time each Letter of Credit is issued, subject to Section 3.5) shall not exceed Cdn. $10,000,000.
(c) The Operating Facility shall only be used by the Borrowers to assist with financing their general corporate operating requirements and to finance Capital Expenditures.
Operating Facility. (i) During the Revolving Period, the Borrower may borrow, repay and re-borrow Advances under the Operating Facility, subject to Sections 3.1(b), 3.2 and 5.7.
(ii) The Aggregate Principal Amount under the Operating Facility on the Term Conversion Date applicable to the Operating Lender, together with all accrued and unpaid interest and fees thereon, and all other Obligations owing to the Operating Lender in connection therewith, will be repayable by the Borrower in one balloon principal payment, together with all accrued and unpaid interest and fees thereon, on the Operating Facility Termination Date.
Operating Facility. (i) The Borrower may borrow, repay and re-borrow Advances under the Operating Facility, subject to Sections 3.1, 3.2 and 5.7.
(ii) The Aggregate Principal Amount under the Operating Facility on the Term Conversion Date applicable to the Operating Lender, together with all accrued but unpaid interest and fees thereon and all other Obligations owing to the Operating Lender in connection therewith, will be repayable by the Borrower in one principal payment, together with all accrued and unpaid interest and fees thereon, on the Operating Facility Termination Date.
Operating Facility. Advances under the Operating Facility shall only be used to finance general corporate purposes and Permitted Acquisitions (other than the Acquisition Transaction) of the Borrowers to the extent permitted under Section 1.1.150(a)(vi). No Advances under the Operating Facility may be used for purposes of funding the Acquisition Transaction.
