Advance Limitations definition

Advance Limitations means that the Borrower will be permitted to request Advances (i) on the initial Borrowing Date and (ii) no more than once during the six (6)-month period commencing on the first Business Day after such initial Borrowing Date and each subsequent six (6)-month period thereafter; provided that, notwithstanding the foregoing, the Borrower shall be permitted to request the following additional Advances: (A) Advances in connection with any Takeout Transaction, and upon the making of such Advances, a new six (6)-month period shall commence for purposes of this definition and the Borrower shall not be permitted to request additional Advances more than once during such six (6)-month period and each subsequent six (6)-month period, except as otherwise expressly set forth herein, and (B) Advances permitted with the consent of the Majority Lenders.
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Advance Limitations means that the Borrower will be permitted to request Advances no more than twice during each calendar month; provided that, if at the commencement of any calendar month, the Borrower has not consummated any Takeout Transaction during the preceding six (6) month period, then the Borrower shall be permitted to request Advances no more than once during the six (6) month period following the commencement of such calendar month until such time as the Borrower shall have consummated any Takeout Transaction; provided, further, that the Borrower will be permitted to request additional Advances with the consent of the Agent and each Funding Agent in connection with a Takeout Transaction.
Sample 1
Advance Limitations means that the Borrower will be permitted to request Advances (i) on the initial Borrowing Date and (ii) no more than oncetwice during the six (6)-month period commencing on the first Business Day after such initial Borrowing Date and each subsequent six (6)-each calendar month period thereafter; provided that, notwithstandingif at the foregoingcommencement of any calendar month, the Borrower shall be permitted to request the following additional Advances: (A) Advances in connection withhas not consummated any Takeout Transaction, and upon during the making of such Advances, a newpreceding six (6)- month period shall commence for purposes of this definition and, then the Borrower shall not be permitted to request additional Advances no more than once during suchthe six (6)- month period and each subsequent six (6)-month period, except as otherwise expressly set forth herein, and (B) Advancesfollowing the commencement of such calendar month until such time as the Borrower shall have consummated any Takeout Transaction; provided, further, that the Borrower will be permitted to request additional Advances with the consent of the Majority Lenders or with the consent of the Agent in connection with a Takeout Transaction.
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Examples of Advance Limitations in a sentence

  • Advances; Limitations and Limits; CP Lender Advance Limitations..........................................

  • Advances under the Libor Option PROMISSORY NOTE Loan No. 5641298123 (CONTINUED) Page 2 -------------------------------------------------------------------------------- are subject to "Advance Limitations".


More Definitions of Advance Limitations

Advance Limitations means that the Borrower will be permitted to request Advances (i) on the initial Borrowing Date and (ii) no more than once during the six (6)-month period commencing on the first Business Day after such initial Borrowing Date and each subsequent six (6)-month period thereafter; provided that, notwithstanding the foregoing, the Borrower shall be permitted to request the following additional Advances: (A) Advances in connection with any Takeout Transaction, and upon the making of such Advances, a new six (6)-month period shall commence for purposes of this definition and the Borrower shall not be permitted to request additional Advances more than once during such six (6)-month period and each subsequent six (6)-month period, except as otherwise expressly set forth herein, and (B) Advances permitted with the consent of the Majority Lenders. [***] = Certain information has been excluded from this exhibit because it is both not material and would likely cause harm to the company if publicly disclosed.
Sample 1

Related to Advance Limitations

  • Concentration Limitations Limitations satisfied on each Measurement Date on or after the Effective Date and during the Reinvestment Period if, in the aggregate, the Collateral Obligations owned (or in relation to a proposed purchase of a Collateral Obligation, owned and proposed to be owned) by the Issuer comply with all of the requirements set forth below (or in relation to a proposed purchase after the Effective Date, if any such requirement is not satisfied, the level of compliance with such requirement is maintained or improved after giving effect to the purchase), calculated in each case as required by Section 1.3 herein:

  • Plantwide applicability limitation (PAL means an emission limitation expressed in tons per year, for a pollutant at a major stationary source, that is enforceable as a practical matter and established source-wide in accordance with Chapter 19, section 011.

  • 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.

  • Availability Block means $15,000,000.

  • Concentration Limits means, as of any date of determination prior to (x) the Commitment Termination Date with respect to all items below and (y) the Final Maturity Date with respect to the concentration limit set forth in clause (c) below, for purposes of determining the Excess Concentration Amount and the Borrowing Base, the concentration limitations set forth below:

  • Concentration Limit means at any time for any Obligor, the product of (i) such Obligor’s Specified Concentration Percentage, times (ii) the aggregate Unpaid Balance of the Eligible Receivables included in the Receivables Pool at the time of determination.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Acid rain emissions limitation means, as defined in 40 CFR 72.2*, a limitation on emissions of sulfur dioxide or nitrogen oxides under the acid rain program under Title IV of the Clean Air Act (CAA).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Vote Limit means the percentage interest specified in a Vote Limit Certificate by a Vote Limited Member pursuant to which such Member (together with such Vote Limited Member’s affiliates) will be irrevocably limited to such Vote Limit in any vote taken under Sections 2.1, 2.8, 2.9 and 8.2.

  • Net emissions increase means, with respect to any regulated NSR pollutant emitted by a major stationary source, the amount by which the sum of the following exceeds zero:

  • 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.

  • Line Cap means, as of any date of determination, the lesser of (a) the Maximum Revolver Amount, and (b) the Borrowing Base as of such date of determination.

  • Extension limitation means (a) the lesser of 5% or the

  • Obligor Concentration Limit At any time, in relation to the aggregate Unpaid Balance of Receivables owed by any single Obligor and its Affiliated obligors (if any):

  • Deduction Limitation means the following described limitation on a benefit that may otherwise be distributable pursuant to the provisions of this Plan. Except as otherwise provided, this limitation shall be applied to all distributions that are “subject to the Deduction Limitation” under this Plan. If an Employer determines in good faith prior to a Change in Control that there is a reasonable likelihood that any compensation paid to a Participant for a taxable year of the Employer would not be deductible by the Employer solely by reason of the limitation under Code Section 162(m), then to the extent deemed necessary by the Employer to ensure that the entire amount of any distribution to the Participant pursuant to this Plan prior to the Change in Control is deductible, the Employer may defer all or any portion of a distribution under this Plan. Any amounts deferred pursuant to this limitation shall continue to be credited/debited with additional amounts in accordance with Section 3.8, even if such amount is being paid out in installments. The amounts so deferred and amounts credited thereon shall be distributed to the Participant or the Participant’s Beneficiary (in the event of the Participant’s death) at the earliest possible date, as determined by the Employer in good faith, on which the deductibility of compensation paid or payable to the Participant for the taxable year of the Employer during which the distribution is made will not be limited by Section 162(m). Notwithstanding the foregoing, the Committee shall interpret this Section in a manner that is consistent with Code Section 409A and the regulations thereunder, including without limitation guidance issued in connection with that Section.

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Exceptions and Limitations means fair use, fair dealing, and/or any other exception or limitation to Copyright and Similar Rights that applies to Your use of the Licensed Material.

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Annual Additions means the sum credited to a Participant's Accounts for any Limitation Year of (a) "employer" contributions, (b) Employee contributions (except as provided below), (c) Forfeitures, (d) amounts allocated to an individual medical benefit account, as defined in Code §415(l)(2), which is part of a pension or annuity plan maintained by the "employer," (e) amounts derived from contributions paid or accrued which are attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code §419A(d)(3)) under a welfare benefit fund (as defined in Code §419(e)) maintained by the "employer" and (f) allocations under a simplified employee pension. Except, however, the Compensation percentage limitation referred to in paragraph (e)(5)(ii) below shall not apply to: (1) any contribution for medical benefits (within the meaning of Code §419A(f)(2)) after separation from service which is otherwise treated as an "annual addition," or (2) any amount otherwise treated as an "annual addition" under Code §415(l)(1).

  • Maximum daily discharge limitation means the highest allowable “daily discharge.”

  • Utility Reservations means Seller’s interest in the right to receive immediately on and after Closing and continuously consume thereafter water service, sanitary and storm sewer service, electrical service, gas service and telephone service on and for the Land and Improvements in capacities that are adequate continuously to use and operate the Improvements for the purposes for which they were intended, including, but not limited to (i) any right to the present and future use of wastewater, drainage, water and other utility facilities to the extent such use benefits the Real Property, (ii) any reservations of or commitments covering any such use in the future, and (iii) any wastewater capacity reservations relating to the Real Property. Buyer shall be responsible for any requests or documents to transfer the Utility Reservations, at Buyer’s sole cost and expense.

  • Applicable Reserve Requirement means, at any time, for any Eurodollar Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Adjusted Eurodollar Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Rate Loans. A Eurodollar Rate Loan shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The rate of interest on Eurodollar Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • Special purpose spray adhesive means an aerosol adhesive that meets any of the following definitions: