ACH Sublimit definition

ACH Sublimit means a sublimit for Automated Clearing House transactions under the Revolving Line not to exceed Five Hundred Thousand Dollars ($500,000), minus any amounts outstanding under the Foreign Exchange Sublimit and the Letter of Credit Sublimit.
Sample 1Sample 2Sample 3
ACH Sublimit means a sublimit for Automated Clearing House transactions under the Revolving Line not to exceed $250,000.
Sample 1
ACH Sublimit in Section 1.1 of the Agreement is hereby deleted in its entirety.
Sample 1Sample 2

Examples of ACH Sublimit in a sentence

  • Subject to the terms and conditions of this Agreement, Borrower may request ACH origination services by delivering to Bank a duly executed ACH application on Bank’s standard form; provided, however, that the total amount of the ACH processing reserves shall not exceed, and availability under the Revolving Line shall be reduced by, the ACH Sublimit.

  • Subject to the terms and conditions of this Agreement, Borrowers may request ACH origination services by delivering to Bank a duly executed ACH application on Bank’s standard form; provided, however, that the total amount of the ACH processing reserves shall not exceed, and availability under the Revolving Line shall be reduced by, the ACH Sublimit.

  • If the aggregate amount of the outstanding Advances plus any amounts outstanding under the Letter of Credit Sublimit, the Credit Card Services Sublimit, and the ACH Sublimit and plus the FX Amount, exceeds the Revolving Line at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

  • Subject to the terms and conditions of this Agreement, Borrower may request ACH origination services by delivering to Bank a duly executed ACH application on Bank’s standard form; provided, that the total amount of the ACH processing reserves shall not exceed, and availability under the Revolving Line shall be reduced by, the ACH Sublimit.

  • Subject to the terms and conditions of this Agreement, Borrower may request ACH origination services by delivering to Bank a duly executed ACH application on Bank’s standard form; provided, however, that the total amount of the ACH processing reserves shall not exceed the ACH Sublimit, and availability under the Revolving Line shall be reduced by the total amount of the ACH processing reserves.

  • Borrower shall at all times, measured on a monthly basis, maintain a ratio of Cash held at Bank or at Bank’s Affiliates subject to account control agreements in favor of Bank plus Eligible Accounts to Current Liabilities plus (to the extent not already included therein) all Indebtedness to Bank (excluding any amounts outstanding under the ACH Sublimit) less the current portion of Deferred Revenue of at least 1.10 to 1.00.

  • Subject to and upon the terms and conditions of this Agreement (1) Borrower may request Advances in an aggregate outstanding amount not to exceed the lesser of (A) the Revolving Line or (B) the Borrowing Base, less any amounts outstanding under the ACH Sublimit, and (2) amounts borrowed pursuant to this Section 2.1(b) may be repaid and reborrowed at any time prior to the Revolving Maturity Date, at which time all Advances under this Section 2.1(b) shall be immediately due and payable.

  • Bank may also provide ACH origination services on a “guaranteed settlement” basis, which shall not give rise to ACH processing reserves that reduce the ACH Sublimit, or reduce availability under the Revolving Line.

  • The aggregate amounts outstanding under the ACH Sublimit, the aggregate face amount of Letters of Credit issued under the Letter of Credit Sublimit, the aggregate limits of the corporate credit cards issued to Borrower and merchant credit card processing reserves under the Credit Card Services Sublimit, and amounts outstanding under the Foreign Exchange Sublimit shall not collectively exceed Five Million Dollars ($5,000,000) (the “Maximum Sublimit Amount”) at any time.

  • The ACH Sublimit shall be disclosed in writing to the Borrower by the Bank, from time to time as necessary, and shall not exceed $2,000,000 at any given time (the lesser of (i) or (ii) above shall be referred to as the "Borrowing Base").


More Definitions of ACH Sublimit

ACH Sublimit means a sublimit for Automated Clearing House transactions under the Revolving Line not to exceed the Sublimit Amount less the aggregate limits of the corporate credit cards issued to a Borrower and merchant credit card processing reserves under the Credit Card Services Sublimit, less the aggregate face amount of Letters of Credit issued under the Letter of Credit Sublimit.
Sample 1Sample 2
ACH Sublimit means Three Hundred Thousand Dollars of the Committed Revolving Line available for ACH origination, pursuant to the Bank’s standard forms of agreement therefore. FIRST
Sample 1

Related to ACH Sublimit

  • L/C Sublimit means an amount equal to $5,000,000. The L/C Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Swingline Sublimit means an amount equal to the lesser of (a) $15,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and not in addition to, the Revolving Facility.

  • Sublimit means the aggregate amount of Warehousing Advances (expressed as a dollar amount or as a percentage of the Warehousing Commitment Amount) that is permitted to be outstanding at any one time against a specific type of Eligible Loan.

  • LC Sublimit means $500,000,000.

  • 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).

  • Issuing Bank Sublimit means, as of the Effective Date, (i) $2,500,000, in the case of Chase and (ii) in the case of any other Issuing Bank, such amount as shall be designated to the Administrative Agent and the Borrower in writing by such Issuing Bank; provided that any Issuing Bank shall be permitted at any time to increase or reduce its Issuing Bank Sublimit upon providing five (5) days’ prior written notice thereof to the Administrative Agent and the Borrower.

  • Swing Line Sublimit means an amount equal to the lesser of (a) $25,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Inventory Sublimit means the amount(s) set forth in Section 1(d) of Schedule A.

  • Letter of Credit Sublimit means an amount equal to the lesser of (a) the Aggregate Revolving Commitments and (b) $25,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

  • Foreign Currency Sublimit means $100,000,000.

  • Alternative Currency Sublimit means an amount equal to the lesser of the Aggregate Commitments and $50,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Aggregate Credit Exposures means, at any time, in respect of (a) the Term Facility, the aggregate amount of the Term Loans outstanding at such time and (b) in respect of the Revolving Credit Facility, the sum of (i) the unused portion of the Revolving Credit Facility at such time and (ii) the Total Revolving Credit Outstandings at such time.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • Aggregate Credit Exposure means, at any time, the aggregate Credit Exposure of all the Lenders at such time.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Swing Line Commitment the obligation of the Swing Line Lender to make Swing Line Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed $10,000,000.

  • Revolving Credit Outstandings means, at any particular time, the sum of (a) the principal amount of the Revolving Loans outstanding at such time, (b) the Letter of Credit Obligations outstanding at such time and (c) the principal amount of the Swing Loans outstanding at such time.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Aggregate Commitment means the aggregate of the Commitments of all of the Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Commitment is $500,000,000.