ABL Commitments definition

ABL Commitments means “Commitments” as defined in the ABL Credit Agreement.

ABL Commitments at any time, the sum of the U.S. Facility Commitments and the Canadian Facility Commitments, in each case at such time. The original aggregate ABL Commitment amount is $1,400,000,000.

ABL Commitments means the “Commitments” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means the ABL Credit Agreement, dated as of February 17, 2021, among the Borrower, the lenders and agents party thereto and the ABL Administrative Agent, as the same may be amended, restated, amended and restated, modified, supplemented, refinanced and/or replaced from time to time in accordance with the terms thereof and the ABL/Fixed Asset Intercreditor Agreement to the extent constituting Permitted Refinancing Indebtedness. “ABL/Fixed Asset Intercreditor Agreement” means the ABL/Fixed Asset Intercreditor Agreement, dated as of the Closing Date, among the Borrower, the Subsidiary Guarantors, the Administrative Agent and the ABL Administrative Agent, substantially in the form of Exhibit K, as the same may be amended, restated, amended and restated, modified, supplemented and/or replaced (in form reasonably satisfactory to the Administrative Agent) from time to time. “ABL Loan Documents” means collectively (a) the ABL Credit Agreement, (b) the ABL Security Documents, (c) the ABL/Fixed Asset Intercreditor Agreement, (d) any promissory note evidencing loans under the ABL Credit Agreement and (e) any amendment, restatement, amendment and restatement, waiver, supplement or other modification to any of the documents described in clauses (a) through (d). “ABL Loans” means loans outstanding under the ABL Credit Agreement. “ABL Obligations Payment Date” has the meaning set forth in the ABL/Fixed Asset Intercreditor Agreement. “ABL Priority Collateral” has the meaning set forth in the ABL/Fixed Asset Intercreditor Agreement. “ABL Representative” has the meaning set forth in the ABL/Fixed Asset Intercreditor Agreement. “ABL Security Documents” means the collective reference to the Guarantee and Collateral Agreement (as defined in the ABL Credit Agreement) and all other security documents delivered to the ABL Administrative Agent granting a Lien on any property of any Person to secure the obligations and liabilities of any Loan Party under any ABL Loan Document. 0000-0000-0000 v.2

Examples of ABL Commitments in a sentence

• If the Aggregate ABL Commitments are increased in accordance with this Section, the Agent, in consultation with the Lead Borrower, shall determine the effective date (the “Increase Effective Date”) and the final allocation of such increase.

• In this Agreement: ABL Commitments means US$150,000,000, to the extent not increased, cancelled or reduced under this Agreement.

• If any Lender becomes a defaulting lender, then the ABL Letter of Credit exposure of such defaulting lender will automatically be reallocated among the non-defaulting lenders pro rata in accordance with their ABL Commitments up to an amount such that the revolving credit exposure of such non-defaulting lender does not exceed its commitments.

• 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.

• The Lenders will be irrevocably and unconditionally obligated to acquire participations in each letter of credit, pro rata in accordance with their ABL Commitments, and to fund such participations in the event the Borrower Entities do not reimburse an Issuing Bank for drawings within the time period specified above.

• If at any time, the aggregate amount of outstanding ABL Loans, unreimbursed ABL Letter of Credit drawings and undrawn ABL Letters of Credit under any given ABL Facility exceeds the Maximum Borrowing Amount for that ABL Facility, then the relevant Borrower Entity will be required to repay outstanding ABL Loans and cash collateralize outstanding ABL Letters of Credit in an aggregate amount equal to such excess, with no reduction of the ABL Commitments.

• The determination of the yield differential shall not take into account upfront fees or OID paid for either the then existing commitments under the ABL Facility or the Additional ABL Commitments.

• The Borrowers may seek Additional ABL Commitments from existing Lenders (each of which shall be entitled to agree or decline to participate in its sole discretion) and additional lenders who will become Lenders in connection therewith.

• Each Borrower hereby reconfirms its obligations (a) pursuant to Section 9.03 of the Credit Agreement to pay and reimburse the Administrative Agent in accordance with the terms thereof and (b) to pay and reimburse JPM, in its capacity as sole lead arranger with respect to the Extended ABL Commitments and Extended FILO Commitments, in accordance with arrangements that have been separately agreed.

• If at any time, the aggregate amount of outstanding ABL Loans under the U.S. ABL Facility, unreimbursed letter of credit drawings and undrawn letters of credit under the U.S. ABL Facility exceeds the U.S. Line Cap, then the U.S. Borrowers will repay outstanding ABL Loans under the U.S. ABL Facility and cash collateralize outstanding letters of credit in an aggregate amount equal to such excess, with no reduction of the U.S. ABL Commitments.

More Definitions of ABL Commitments

ABL Commitments means “Commitments” as defined in the ABL Facility. “ABL Credit Agreement” means the Amended and Restated Credit Agreement dated as of October 23, 2017, among Holdings (as successor to Torrid Inc., a Delaware corporation), the Borrower, the ABL Facility Administrative Agent and the several banks and other financial institutions from time to time parties thereto, as amended by that certain First Amendment to Amended and Restated Credit Agreement, dated as of June 14, 2019, that certain Second Amendment to Amended and Restated Credit Agreement, dated as of September 4, 2019, and as such agreement may be further amended, supplemented, waived or otherwise modified from 1 US-DOCS\123992845.16 042525-0274 time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Refinancing Indebtedness thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Credit Agreement). “ABL Event of Default” means “Event of Default” as set forth in the ABL Credit Agreement. “ABL Facility” means the collective reference to the ABL Credit Agreement, any ABL Loan Document, any notes and letters of credit issued pursuant thereto and any guarantee, security agreement, patent, trademark or copyright security agreements, mortgages, letter of credit applications and other guarantees, pledge agreements, security agreements and collateral documents, and other instruments and documents, executed and delivered pursuant to or in connection with any of the foregoing, in each case as the same may be amended, supplemented, waived or otherwise modified from time to time, or refunded, refinanced, restructured, replaced, renewed, repaid, increased or extended from time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Refinancing Indebtedness thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Facility). “ABL Facility Administrative Agent” means Bank of America, in its capacity as administrative agent under the ABL Credit Agreement or any successor agent under the ABL Loan Documents. “ABL Financial Covenant” means the covenant set forth in Section 7.15 of the ABL Credit Agreement. “ABL Intercreditor Agreement” means the ABL Intercreditor Agreement substantially in the form of Exhibit G-1 among the Collateral Agent, Bank of America, as collateral agent under the ABL ...

ABL Commitments means “Commitments” as defined in the ABL Credit Agreement. “ABL Cure Amount” means “Cure Amount” as defined in the ABL Credit Agreement. “ABL Cure Right” means “Cure Right” as defined in the ABL Credit Agreement.

ABL Commitments means “Commitments” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means the ABL Credit Agreement dated as of the date hereof, among the Borrower, the other borrowers named therein, the ABL Facility Administrative Agent and the several banks and other financial institutions from time to time parties thereto, as such agreement may be amended, supplemented, waived or otherwise modified from time to time, in each case to the extent permitted hereunder and under the ABL Intercreditor Agreement and any Permitted Refinancing thereof (unless such agreement, instrument or document expressly provides that it is not intended to be and is not an ABL Credit Agreement), in each case, to the extent permitted hereunder. “ABL Event of Default” means “Event of Default” as set forth in the ABL Credit Agreement.