ABL Loan definition

ABL Loan means a loan made pursuant to the ABL Credit Agreement.

ABL Loan shall have the meaning provided in the ABL Intercreditor Agreement.

ABL Loan means any Loan secured by a first priority perfected security interest in or other lien on, and as to which the maximum aggregate principal amount thereof that may be outstanding under the related Underlying Instrument is limited by a formula computed (no less frequently than monthly) by reference to, one or more of accounts receivable, inventory, machinery, equipment and other fixed assets (other than real estate).

Examples of ABL Loan in a sentence

• Subject to the terms and conditions of the Term Loan Intercreditor Agreement, the remedies for any violation of the covenants, terms and conditions of the agreements herein contained shall be as prescribed herein, in the ABL Loan Documents, or by general law, or, as to that part of the security in which a security interest may be perfected under the Code, by the specific statutory consequences now or hereafter enacted and specified in the Code, all at the election of the ABL Controlling Agent.

• Except as otherwise provided herein, the ABL Agent and the other ABL Claimholders will be entitled to manage and supervise their respective loans and extensions of credit under their respective ABL Loan Documents in accordance with law and as they may otherwise, in their sole discretion, deem appropriate.

• Nothing in this Agreement impairs or otherwise adversely affects any rights or remedies the ABL Agent or the ABL Claimholders may have against the Grantors under the ABL Loan Documents.

• Such loan advances may or may not be evidenced by guarantees or notes executed pursuant to the ABL Loan Documents.

• In the event of any conflict between the provisions of this Agreement and the provisions of any ABL Loan Document or any Note Document, the provisions of this Agreement shall govern and control.

More Definitions of ABL Loan

ABL Loan means (i) a lending facility pursuant to which the loans thereunder are secured by a perfected, first priority security interest in ABL Collateral, (ii) is an Eligible First Lien Obligation and (iii) is designated as an ABL Loan by the Borrower at the time of the initial acquisition thereof by the Borrower.

ABL Loan any loan made pursuant to the ABL Facility.

ABL Loan means a loan that is an asset-based financing secured by working-capital assets such as inventory, equipment and accounts receivable and that utilizes a borrowing base formula for determining availability of advances thereunder.

ABL Loan shall have the meaning assigned to the term “Loans” in the ABL Credit Agreement and any modification, replacement, refinancing, refunding, renewal, or extension thereof permitted by the Credit Documents.

ABL Loan shall have the meaning assigned to the term “Loan” in the ABL Facility.

ABL Loan means any Loan secured by a first priority perfected security interest in or other lien on, and as to which the maximum aggregate principal amount thereof that may be outstanding under the related Underlying Instrument is limited by a formula computed (no less frequently than monthly) by reference to, one or more of accounts receivable, inventory, machinery, equipment and other fixed assets (other than real estate). “Account” has the meaning given to such term in the Indenture. “Aggregate Outstanding Amount”, on any date with respect to the Class A Notes, has the meaning given to such term in the Indenture. “Aggregate Portfolio Par Value” means, on any date of determination, the Aggregate Principal Balance of (a) all Portfolio Assets plus (b) all Cash credited or required to be credited to the Principal Collection Subaccount and Eligible Investments acquired with such Cash.

ABL Loan. Any Loan secured by a first priority perfected security interest in, or other lien on, and as to which the maximum aggregate principal amount thereof that may be outstanding under the related Underlying Instrument is limited by a formula computed (no less frequently than monthly) by reference to, one or more of accounts receivable, inventory, machinery, equipment and other fixed assets (other than real estate).