ACE Sublimit definition

ACE Sublimit means, at any time, the lesser of (a) $150,000,000, as such amount is reduced from time to time pursuant to Section 2.5, and (b) the maximum amount of short-term debt that ACE is authorized to have outstanding by Applicable Governmental Authorities minus the sum of (i) the "ACE Sublimit" as defined in the Three-Year Credit Agreement and (ii) any other applicable short-term debt of ACE.
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ACE Sublimit means, at any time, the lesser of (a) $150,000,000, as such amount is reduced from time to time pursuant to Section 2.5 and (b) the maximum amount of short-term debt that ACE is authorized to have outstanding by Applicable Governmental Authorities minus any other applicable short-term debt of ACE. "Administrative Questionnaire" means an administrative questionnaire, substantially in the form supplied by the Agent, completed by a Lender and furnished to the Agent in connection with this Agreement. "Advance" means a borrowing hereunder (i) made by the Lenders on the same Borrowing Date or (ii) converted or continued by the Lenders on the same date of conversion or continuation, consisting, in either case, of the aggregate amount of the several Loans of the same Type made to the same Borrower and, in the case of Eurodollar Loans, for the same Interest Period. "Affected Lender" is defined in Section 3.7. "Affiliate" of any Person means any other Person directly or indirectly controlling, controlled by or under common control with such Person. A Person shall be deemed to control another Person if the controlling Person owns 10% or more of any class of voting securities (or other ownership interests) of the controlled Person or possesses, directly or indirectly, the power to direct or cause the direction of the management or policies of the controlled Person, whether through ownership of stock, by contract or otherwise.
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Examples of ACE Sublimit in a sentence

  • Any increase in the Subsidiary Borrower Sublimit pursuant to this Section 2.2(a) shall result in a percentage increase in each of the ACE Sublimit, the DPL Sublimit and the PEPCO Sublimit, respectively, equal to the percentage increase in the Subsidiary Borrower Sublimit.

  • Any such reduction in the Aggregate Commitment shall be allocated pro rata among the PHI Sublimit and the Subsidiary Borrower Sublimit and such decrease in the Subsidiary Borrower Sublimit shall result in a percentage decrease in each of the ACE Sublimit, the DPL Sublimit and the PEPCO Sublimit, respectively, equal to the percentage decrease in the Subsidiary Borrower Sublimit.

Related to ACE Sublimit

  • L/C Sublimit has the meaning ascribed to it in Annex B.

  • Swingline Sublimit means an amount equal to the lesser of (a) $5,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and not in addition to, the Revolving Facility.

  • Swing Line Sublimit means an amount equal to the lesser of (a) $50,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • L/C Issuer Sublimit means with respect to each L/C Issuer, such amount as may be separately agreed between such L/C Issuer and the Borrower from time to time (with specific notice of such amount, and any change thereto, with respect to each L/C Issuer being promptly communicated to the Administrative Agent), provided that the L/C Issuer Sublimit with respect to any Person that ceases to be an L/C Issuer for any reason pursuant to the terms hereof shall be $0 (subject to the Letters of Credit of such Person remaining outstanding in accordance with the provisions hereof).

  • LC Sublimit means $500,000,000.