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

• Pursuant to the DIP ABL Credit Agreement, all distributions pursuant to this Article II.C.1 shall be made to the DIP ABL Agent for distributions to the DIP ABL Lenders in accordance with the DIP ABL Credit Agreement and DIP ABL Loan Documents.

• On March 4, 2015, the ABL Facility Agent delivered a notice of an event of default related to such overadvance and financial covenants under the ABL Loan Agreement.

• ABL Loan Second Lien Security Agreement dated as of September 25, 2013, by and between Tesoro Hawaii, LLC and Wells Fargo Bank, National Association, as inventory collateral agent.

• The Debtors, the ABL Facility Agent and the ABL Facility Lenders entered into a Forbearance Agreement dated March 17, 2015 (the “Initial Forbearance”), pursuant to which the ABL Facility Lenders agreed to make up to $2,045,263.39 of additional advances and forbear from exercising their rights under the ABL Loan Agreement until March 23, 2015.

• As adequate protection for the Debtors’ use of the Prepetition ABL Collateral (including Cash Collateral), the Debtors shall comply with the reporting requirements set forth in the Prepetition ABL Loan Documents, provided that notwithstanding anything to thecontrary in this Interim Order or the Prepetition ABL Loan Documents, the Debtors shall not be required to deliver any Borrowing Base Certificates (as defined in the Prepetition ABL Credit Agreement) to the Prepetition ABL Agent.

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 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 means a loan made by the ABL Lenders from time to time under the ABL Agreement.

ABL Loan means any Bank Loan where (i) the underwriting of such Bank Loan was based primarily on the appraised value of the assets securing such Bank Loan and (ii) advances in respect of such Bank Loan are governed by a borrowing base relating to the assets securing such Bank Loan.

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

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.