Additional Permitted Borrowing definition

Additional Permitted Borrowing means on any date, the amount equal to any amount of principal outstanding under the Senior Financing Agreements in excess of the amount of principal scheduled under the Senior Financing Agreements at Financial Close to be outstanding at that date, but only to the extent that:
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Additional Permitted Borrowing means, on any date, the amount by which the principal amount of Senior Debt outstanding under the Senior Lending Agreements exceeds the principal amount of Senior Debt scheduled under the Initial Senior Lending Agreements (as at the Effective Date) to be outstanding at that date, but only to the extent that:
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Additional Permitted Borrowing means on any date, the amount equal to any amount of principal outstanding under the Senior Funding Agreements (as the same may from time to time be amended, whether or not with the approval of the Authority) in excess of the amount of principal scheduled under the Senior Funding Agreements at Financial Close to be outstanding at that date; but only to the extent that: this amount is less than or equal to the Additional Permitted Borrowings Limit; and in respect of any Additional Permitted Borrowing the Agent is not in material breach of its obligations under clause 9.4.3 of the Funders' Direct Agreement as it applies to such Additional Permitted Borrowing, and provided further that any such excess amount of principal which is: invested as part of any Qualifying Change; or outstanding from time to time as a result of any drawing under the Senior Funding Agreements as entered into at the date of this Agreement, disregarding any subsequent amendment; or outstanding from time to time as a result of any amendment to the Senior Funding Agreements in respect of which the Authority has agreed that its liabilities on a termination may be increased pursuant to Clause 4.3 shall not be counted as Additional Permitted Borrowing;
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Examples of Additional Permitted Borrowing in a sentence

  • If the SPV makes changes to the Senior Funding Agreements which have not been approved by the Authority for the purposes of Clause 4.3 they will be disregarded for the purposes of calculating termination sums unless they qualify as Additional Permitted Borrowing.

  • If the calculation referred to in Clause 53.23 above shows that the [senior debt loan life cover ratio] is less than [event of default level] then the amount equal to the lesser of: the insurance proceeds; and the Base Senior Debt Termination Amount, or, if any Additional Permitted Borrowing has been advanced, the Revised Senior Debt Termination Amount, shall be released from the Insurance Proceeds Account to Sub-hubco.

  • If a [Distribution] is made whilst any Additional Permitted Borrowing is outstanding and DBFM Co has wilfully, or through gross negligence failed to comply with its obligations under clause 9.4.4(a) of the Funders' Direct Agreement then in addition to the deduction of the [Distribution] made pursuant to limb v.

  • No amendment, waiver or exercise of a right under any Funding Agreement or Ancillary Document shall have the effect of increasing the Authority's liabilities on early termination of this Agreement unless: Project Co has obtained the prior written consent of the Authority to such increased liability for the purposes of this Clause 4.3; or it is an Additional Permitted Borrowing.


More Definitions of Additional Permitted Borrowing

Additional Permitted Borrowing means on any date, the amount equal to any amount of principal outstanding under the Senior Funding Agreements (as the same may be amended from time to time whether or not with the approval of the Authority) in excess of the amount of principal scheduled under the Senior Funding Agreements at Financial Close to be outstanding at that date;
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Additional Permitted Borrowing means on any date, the amount equal to any amount of
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Additional Permitted Borrowing means on any date, the amount equal to any amount of principal outstanding under the Senior Credit Providers’ Agreements in excess of the amount of principal that the
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Additional Permitted Borrowing means on any date, the amount equal to any amount of principal outstanding under the Senior Funding Agreement in excess of the amount of principal scheduled under the Senior Funding Agreements at Financial Close to be outstanding at that date, but only to the extent that: this amount is less than or equal to the Additional Permitted Borrowing Limit; and in respect of any Additional Permitted Borrowing the Senior Lenders’ Agent is not in material breach of its obligations under Clause [  ] of the Funder Direct Agreement as it applies to such Additional Permitted Borrowing; and any such excess amount of principal which has been drawn down in connection with the funding of any Variation will not be counted as Additional Permitted Borrowing
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Additional Permitted Borrowing means on any date, the amount equal to any amount of principal outstanding under the Senior Financing Agreements in excess of the amount of principal scheduled under the Senior Financing Agreements at Financial Close to be outstanding at that date;but only to the extent that:
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Additional Permitted Borrowing means, on any date, the amount by which the principal amount of Senior Debt outstanding under the Senior Lending Agreements exceeds the principal amount of Senior Debt constituted by advances under the Initial Senior Lending Agreements that fall within paragraphs (a)(i) or (b)(i) of the definition of Permitted Borrowing in this Section 1.1, but only to the extent that:
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Related to Additional Permitted Borrowing

  • Term B Borrowing means any Borrowing comprised of Term B Loans.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • Initial Borrowing means the first Borrowing by the Borrower under this Agreement.

  • Committed Borrowing means a borrowing consisting of simultaneous Committed Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • Term SOFR Borrowing means, as to any Borrowing, the Term SOFR Loans comprising such Borrowing.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Term Loan Borrowing means a borrowing consisting of Term Loans made on the same day by the Term Loan Lenders ratably according to their respective Term Loan Commitments.

  • Notice of Committed Borrowing has the meaning set forth in Section 2.02.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Term Borrowing means a borrowing consisting of Term Loans of the same Type and the same Class and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders of the applicable Class under this Agreement.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Incremental Term Loan Borrowing Date means, with respect to each Tranche of Incremental Term Loans, each date on which Incremental Term Loans of such Tranche are incurred pursuant to Section 1.01(c) and as otherwise permitted by Section 1.14.

  • Borrowing Tranche means specified portions of Loans outstanding as follows: (i) any Loans to which a LIBOR Rate Option applies which become subject to the same Interest Rate Option under the same Loan Request by the Borrower and which have the same Interest Period shall constitute one Borrowing Tranche, and (ii) all Loans to which a Base Rate Option applies shall constitute one Borrowing Tranche.

  • Revolving Borrowing means a Borrowing comprised of Revolving Loans.

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.

  • Mandatory Borrowing shall have the meaning provided in Section 2.1(d).

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Incremental Term Borrowing means a Borrowing comprised of Incremental Term Loans.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).