ABL Commitment definition

ABL Commitment means the commitment under the ABL Credit Agreement.
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ABL Commitment means “Commitment” as defined in the ABL Credit Agreement.
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ABL Commitment means, as to each ABL Lender, its obligation to (a) make ABL Loans to the Borrowers pursuant to Section 2.01(a) through (d), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth under the column heading “ABL Commitment” opposite such ABL Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such ABL Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. As of the Amendment No. 1 Effective Date, the aggregate amount of the ABL Commitments is $285,000,000. “ABL Lender” means each Lender having an ABL Commitment from time to time. “ABL Loan” has the meaning specified in Section 2.01(a). “ABL Loan Cap” means, at any time of determination, the lesser of (a) the Aggregate ABL Commitments or (b) the ABL Borrowing Base. “ABL Note” means a promissory note made by the Borrowers in favor of an ABL Lender evidencing ABL Loans made by such ABL Lender, substantially in the form of Exhibit C-1, as each may be amended, supplemented or modified from time to time. “Acceptable Document of Title” means, with respect to any Inventory, except as Agent may otherwise agree (or to the extent otherwise provided in the definition of the term Eligible In-Transit Inventory), a tangible, negotiable xxxx of lading or other Document (as defined in the UCC) that (a) is issued by a common carrier which is not an Affiliate of the Approved Foreign Vendor or any Loan Party which is in actual possession of such Inventory, (b) is issued to the order of a Loan Party or, if so requested by the Agent, to the order of the Agent, (c) names the Agent as a notify party and bears a conspicuous notation on its face of the Agent’s security interest therein, (d) is not subject to any Lien (other than in favor of the Agent), and (e) is on terms otherwise reasonably acceptable to the Agent. “ACH” means automated clearing house transfers. “Acceptable Appraisal” means, with respect to an appraisal of Real Estate, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent and the Lenders and (c) complying with the requirements of FIRREA. “Accommodation P...
Sample 1

Examples of ABL Commitment in a sentence

  • On the Effective Date, the Reorganized Debtors shall enter into the Exit Facilities (the terms of which shall be set forth in the Exit Facility Documents) on terms consistent with the Exit Facilities Term Sheet and ABL Commitment Letter, if applicable.

  • The addition of such new lenders increased the DIP ABL Commitment from $1.54 billion to$1.62 billion.

  • The Agent shall promptly notify the Lead Borrower and the ABL Lenders of the final allocation of such increase and the Increase Effective Date and on the Increase Effective Date (i) the Aggregate ABL Commitments under, and for all purposes of, this Agreement shall be increased by the aggregate amount of such ABL Commitment Increases, and (ii) Schedule 2.01 shall be deemed modified, without further action, to reflect the revised ABL Commitments and Applicable ABL Percentages of the ABL Lenders.

  • Integration This Exit ABL Commitment Letter and the Exit ABL Fee Letter supersede any and all discussions, negotiations, understandings or agreements, written or oral, express or implied, between or among the parties hereto and their affiliates as to the subject matter hereof.

  • Such fees shall be paid to the Administrative Agent for distribution to the Lenders pro rata in accordance with the amount of each such Lender’s ABL Commitment, with exceptions for defaulting lenders.

  • Such fees shall be paid to the Administrative Agent for distribution to the ABL Lenders pro rata in accordance with the amount of each such Lender’s ABL Commitment, with exceptions for defaulting lenders.

  • Notwithstanding anything to the contrary set forth herein, Sections 9.1, 9.6, 9.11, 9.12 and 9.13 and this Section 9.2 (and any provision of this Agreement to the extent a modification, waiver or termination of such provision would modify the substance of any such Sections) may not be waived or terminated in a manner that is adverse to the Financing Source Related Parties without the prior written consent of the lead arranger under the ABL Commitment Letter.

  • To the maximum extent permitted by applicable law, each party hereto irrevocably waives any right to a trial by jury in respect of to any claim, controversy, or dispute (whether based in contract, tort, or otherwise) arising out of or relating to this Exit ABL Commitment Letter, the Exit ABL Term Sheet, or the Transactions contemplated hereby or the actions of the Exit ABL Commitment Parties or any of their affiliates in the negotiation, performance, or enforcement of its rights in connection therewith.

  • Except as set forth in the applicable Debt Letter, there are no (i) conditions precedent to the respective obligations of the Financing Sources that are party to the ABL Commitment Letter to fund the full amount of the ABL Financing, (ii) conditions precedent to the obligations of Bank J.

  • In the event of any inconsistency between the summary of the terms and conditions of the New ABL Facility specified herein and the terms and conditions specified in the ABL Commitment Letter, the ABL Commitment Letter shall govern.


More Definitions of ABL Commitment

ABL Commitment means the Maximum Amount set forth in the ABL Agreement, as modified from time to time.
Sample 1
ABL Commitment means “Commitment” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means that certain Credit Agreement, dated as of the Closing Date, by and among Companies, the ABL Agent and the ABL Lenders, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Intercreditor Agreement. “ABL Credit Documents” means, collectively, the ABL Credit Agreement, the ABL Security Instruments, the Intercreditor Agreement, the other “Loan Documents” (as defined in the ABL Credit Agreement) and all other agreements, instruments and other documents executed and delivered at any time in connection with the ABL Credit Agreement (in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Intercreditor Agreement). “ABL Indebtedness” means, collectively, the “Obligations” as defined in the ABL Credit Agreement not to exceed the amount of any such Indebtedness permitted pursuant to Section 6.1(k). “ABL Lenders” means the lenders from time to time party to the ABL Credit Agreement. “ABL Letters of Credit” means the letters of credit issued in accordance with the ABL Credit Agreement. “ABL Loans” means the revolving loans made in accordance with the ABL Credit Agreement.
Sample 1

Related to ABL Commitment

  • L/C Commitment means the commitment of the Issuing Bank to issue Letters of Credit pursuant to Section 2.23.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Initial Revolving Credit Commitment means, with respect to any Person, the commitment of such Person to make Initial Revolving Loans (and acquire participations in Letters of Credit and Swingline Loans) hereunder as set forth on the Commitment Schedule, or in the Assignment Agreement pursuant to which such Person assumed its Initial Revolving Credit Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to Section 2.22. The aggregate amount of the Initial Revolving Credit Commitments as of the Closing Date is $75,000,000.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Tranche C Term Loan Commitment means the commitment of a Lender to make a Tranche C Term Loan to Company pursuant to subsection 2.1A(iii), and "Tranche C Term Loan Commitments" means such commitments of all Lenders in the aggregate.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • LOC Commitment means the commitment of the Issuing Lender to issue Letters of Credit and with respect to each Lender, the commitment of such Lender to purchase participation interests in the Letters of Credit up to such Lender's LOC Committed Amount as specified in Schedule 2.1(a), as such amount may be reduced from time to time in accordance with the provisions hereof.

  • Tranche B Term Loan Commitments means such commitments of all Lenders in the aggregate. The amount of each Lender’s Tranche B Term Loan Commitment, if any, is set forth on Appendix A-2 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the Tranche B Term Loan Commitments as of the Third Restatement Date is $600,000,000.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Term Loan B Commitment means, with respect to each Lender, its Term Loan B Commitment, and, with respect to all Lenders, their Term Loan B Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Facility A Commitment means, in relation to a Facility A Lender, the amount set opposite its name in column 1 of part E of schedule 1 or, as the case may be, in any relevant Transfer Certificate, as amended by any relevant term of this Agreement;

  • Refinancing Revolving Credit Commitments means one or more Classes of Revolving Credit Commitments hereunder that result from a Refinancing Amendment.