Adjusted Revolving Commitment definition

Adjusted Revolving Commitment for each Non-Defaulting Bank shall mean at any time the product of such Bank's Adjusted RC Percentage and the Adjusted Total Revolving Commitment.

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Adjusted Revolving Commitment means, at any time and with respect to any Credit Facility other than a Term Loan Facility, the aggregate Commitments with respect to such Credit Facility of all Lenders less the aggregate Commitments with respect to such Credit Facility of all Defaulting Lenders.

Adjusted Revolving Commitment for each RC Lender that is a Non- Defaulting Lender shall mean at any time the product of such RC Lender's Adjusted RC Percentage and the Adjusted Total Revolving Commitment.

Examples of Adjusted Revolving Commitment in a sentence

Within the limits of each Lender’s Adjusted Revolving Commitment Amount, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(2), prepay under Section 2.05 and reborrow under this Section 2.01(2).
If the Agent so notifies any Participant required to fund an Unpaid Drawing under a Letter of Credit prior to 11:00 A.M. (New York time) on any Business Day, such Participant shall make available to the Agent for the account of the Letter of Credit Issuer such Participant's Adjusted Revolving Commitment Percentage of the amount of such payment on such Business Day in same day funds.
If and to the extent such Participant shall not have so made its Adjusted Revolving Commitment Percentage of the amount of such Unpaid Drawing available to the Agent for the account of the Letter of Credit Issuer, such Participant shall pay interest on such amount from such date until the date such amount is paid to the Agent for the account of the Letter of Credit Issuer at the overnight Federal Funds Effective Rate.
Uponany change in the Revolving Commitments or Adjusted Revolving Commitment Percentages of the Revolving Lenders pursuant to Section 12.04(b) or upon a Lender Default, it is hereby agreed that, with respect to all outstanding Letters of Credit and Unpaid Drawings, there shall be an automatic adjustment to the participations pursuant to this Section 2.05 to reflect the new Adjusted Revolving Commitment Percentages of the assigning and assignee Lender or of all Revolving Lenders, as the case may be.

More Definitions of Adjusted Revolving Commitment

Adjusted Revolving Commitment means, at any time, the Total Revolving Commitment less the aggregate amount of Revolving Commitments of all Defaulting Lenders.

Adjusted Revolving Commitment for each Non-Defaulting Lender shall mean at any time the product of such Lender's Adjusted Revolving Commitment Percentage and the Adjusted Total Revolving Commitment. "Adjusted Revolving Commitment Percentage" shall mean (a) at a time when no Lender Default exists, for each Lender such Lender's Revolving Percentage and (b) at a time when a Lender Default exists (i) for each Lender that is a Defaulting Lender, zero and (ii) for each Lender that is a Non-Defaulting Lender, the percentage determined by dividing such Lender's Revolving Commitment at such time by the Adjusted Total Revolving Commitment at such time, it being understood that all references herein to Revolving Commitments and the Adjusted Total Revolving Commitment at a time when the Total Revolving Commitment or Adjusted Total Revolving Commitment, as the case may be, has been terminated shall be references to the Revolving Loan Commitments or Adjusted Total Revolving Commitment, as the case may be, in effect immediately prior to such termination; provided, however, that (A) no Lender's Adjusted Revolving Commitment Percentage shall change upon the occurrence of a Lender Default from that in effect immediately prior to such Lender Default if, after giving effect to such Lender Default and any repayment of Revolving Loans and Swingline Loans at such time pursuant to Section 4.02(A)(a) or otherwise, the sum of (1) the aggregate outstanding principal amount of Revolving Loans of all Non-Defaulting Lenders plus (2) the aggregate outstanding principal amount of Swingline Loans plus (3) the Letter of Credit Outstandings, exceeds the Adjusted Total Revolving Loan Commitment; (B) the changes to the Adjusted Revolving Commitment Percentage that would have become effective upon the occurrence of a Lender Default but that did not become effective as a result of the preceding clause (A) shall become effective on the first date after the occurrence of the relevant Lender Default on which the sum of (1) the aggregate outstanding principal amount of the Revolving Loans of all Non-Defaulting Lenders plus

Adjusted Revolving Commitment means, for purposes of computing the commitment fee only, an amount which is the lesser of (i) the Revolving Commitment or (ii) the amount of Debt actually available to be incurred and outstanding hereunder from time to time in compliance with the Protection Ratio.