Aggregate Credit definition

Aggregate Credit means the sum of each Lender's Maximum Commitment up to a maximum of Sixty Million Dollars ($60,000,000).
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Aggregate Credit means, at any time, (a) the aggregate principal amount of the Loans (as defined in the 364-Day Credit Agreement) outstanding under the 364-Day Credit Agreement at such time plus the aggregate principal amount of the Loans (as defined in the $350MM Credit Agreement) outstanding under the $350MM Credit Agreement at such time, or (b) if no such Loans are outstanding at such time under either the 364-Day Credit Agreement or the $350MM Credit Agreement, the aggregate amount of the Commitments (as defined in the 364-Day Credit Agreement) in effect under the 364-Day Credit Agreement at such time plus the aggregate amount of the Commitments (as defined in the $350MM Credit Agreement) in effect under the $350MM Credit Agreement at such time.
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Aggregate Credit. Exposure shall mean as of any date the sum of each of the amounts described in (A) through (C) below outstanding on such date: (A) the aggregate outstanding principal balance of the Loans made to the Borrower pursuant to Sections 2.01, 11.11(c) or otherwise hereunder outstanding on such date, plus (B) the aggregate undrawn face amount of the Letters of Credit issued pursuant to Section 2.10, plus (C) the obligations under the Escrow Agreements entered into pursuant to Section 2.11. It is acknowledged that clauses (B) and (C) exclude the undrawn face amount of Letters of Credit and obligations under Escrow Agreements which Borrower has Cash Collateralized. Agreement shall mean this Credit Agreement as the same may be supplemented or amended from time to time including all schedules and exhibits hereto. Agreement of Sale shall mean a written agreement with a Person, which is not an Affiliate of the Company or any Consolidated Subsidiary of the Company, for the sale of a unit fully executed by all parties to such agreement which shall be in form and substance satisfactory to Agent, which shall include no contingency for the purchaser selling another residence, which shall be accompanied by a non-refundable (except on terms set forth in such agreement or as may be prevented by applicable law) deposit equal to the lesser of (x) ten percent (10%) of the purchase price of the unit sold, (y) the difference between the purchase price set forth in such agreement and the amount of the mortgage contingency set forth in such agreement (at least one- half of which deposit shall have been paid in cash), and (z) the maximum amount of deposit which applicable Law permits the seller of such unit to retain if the closing for the sale of such unit does not occur, and which shall provide that the purchase price shall be paid in cash or by title company check or by certified or bank check at or before the closing of the sale (such cash or check may be obtained by the buyer from a loan provided by the seller or an Affiliate of the seller), the date of which shall be set forth in such agreement. For the purpose of clause (z) above, applicable Law shall be deemed to prohibit seller from retaining a deposit if it creates a presumption that the amount of such deposit is unreasonable and as such may not be retained by the seller. Amount to be Collateralized shall have the meaning assigned to such term in Section 2.14(d)(iii). Assessment Rate for any day shall mean the rate per annum ...
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Examples of Aggregate Credit in a sentence

  • If any Lender, whether by setoff or otherwise, has payment made to it upon its Credit Exposure (other than payments received pursuant to Section 3.1, 3.2, 3.4 or 3.5) in a greater proportion than that received by any other Lender, such Lender agrees, promptly upon demand, to purchase a portion of the Aggregate Credit Exposure held by the other Lenders so that after such purchase each Lender will hold its Pro Rata Share of the Aggregate Credit Exposure.

  • If any Lender, whether in connection with setoff or amounts which might be subject to setoff or otherwise, receives collateral or other protection for its Secured Obligations or such amounts which may be subject to setoff, such Lender agrees, promptly upon demand, to take such action necessary such that all Lenders share in the benefits of such collateral ratably in proportion to respective Pro Rata Share of the Aggregate Credit Exposure.

  • Swing Line Loans (i) may be repaid and reborrowed in accordance with the provisions hereof, (ii) shall not, immediately after giving effect thereto, result in the Aggregate Credit Exposure exceeding the Aggregate Commitment Amount, and (iii) shall not, immediately after giving effect thereto, result in the aggregate outstanding principal balance of all Swing Line Loans exceeding the Swing Line Commitment.

  • Immediately after making each Revolving Credit Loan and after giving effect to all Swing Line Loans and Competitive Bid Loans repaid and all Reimbursement Obligations paid on the same date, the Aggregate Credit Exposure will not exceed the Aggregate Commitment Amount.

  • On the Closing Date, and subject to and upon the terms and conditions set forth in this Agreement and the other Loan Documents, the Administrative Agent, the Lenders, the Swing Line Lender and each LC Issuer agree to establish the Credit Facility for the benefit of the Borrower; provided, however, that at no time will (i) the Aggregate Credit Facility Exposure exceed the Total Credit Facility Amount, or (ii) the Credit Facility Exposure of any Lender exceed the aggregate amount of such Lender’s Commitment.

  • Except for Protective Advances and Overadvance Loans permitted under Section 2.03, if on any date (after giving effect to any other payments on such date) the Aggregate Credit Facility Exposure exceeds the Maximum Borrowing Amount, then, in the case of each of the foregoing, the Borrower shall, before noon on the second Business Day following such date, prepay the principal amount of Loans and, after Loans have been paid in full, Unpaid Drawings, in an aggregate amount at least equal to such excess.

  • Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to (a) make Loans to the Borrower as set forth below and (b) participate in Facility LCs issued upon the request of the Borrower, provided that, after giving effect to the making of each such Loan and the issuance of each such Facility LC, such Lender’s Credit Exposure shall not exceed its Commitment; provided further, that the Aggregate Credit Exposure shall not exceed the Aggregate Commitment.

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $50,000,000 and (ii) the Aggregate Credit Exposure shall not exceed the Aggregate Commitment.

  • Notwithstanding anything to the contrary contained herein, no Lender shall be obligated to make a Competitive Bid Loan if immediately after making such Competitive Bid Loan, the Aggregate Credit Exposure would exceed the Aggregate Revolving Credit Commitment Amount.

  • After giving effect to the Extensions of Credit requested to be made on any date, the Aggregate Credit Exposure of the Lenders shall not exceed the Borrowing Base then in effect.


More Definitions of Aggregate Credit

Aggregate Credit means, at any time, (a) the aggregate ---------------- principal amount of the Loans outstanding under the Credit Agreement at such time or (b) if no such Loans are outstanding at such time under the Credit Agreement, the aggregate amount of the Commitments in effect under the Credit Agreement at such time.
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Aggregate Credit means the aggregate principal amount of the Senior
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Aggregate Credit at any time means the aggregate principal amount of the Facility which at such time is being made available by the Lender to the Borrower pursuant to this Agreement, being, $8,000,000. "AGREEMENT, HEREOF, HERETO, HEREUNDER" or similar expressions mean this Agreement and the schedules and appendices hereto, as amended, supplemented, restated and replaced from time to time.
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Aggregate Credit means for purposes of the Reimbursement Amount the sum of the annual Credits accruing from the first year in which any of the Bonds are issued to the Reimbursement Date or to any year prior to the Reimbursement Date, plus any portion of an Annual Installment for a given year that is collected by the County from the Developer and applied to pay debt service on Tax Revenue Bonds less any such amounts collected from the Developer that have been repaid to the Developer or its successors or assigns from the Surplus as provided herein in paragraph 5(j)(3). For example, if the parties seek to determine the Aggregate Credit at the end of 2020 and the first issuance of Bonds occurred in 2010, the Aggregate Credit would be the sum of annual Credits from 2010 through and including 2020.
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Related to Aggregate Credit

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

  • 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.

  • Aggregate Commitment Amount means the aggregate principal amount of the Aggregate Commitments from time to time. On the Closing Date, the Aggregate Commitment Amount equals $1,500,000,000.

  • 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.

  • Revolving Credit Aggregate Commitment means Eighty Million Dollars ($80,000,000.00), subject to increases pursuant to Section 2.12 hereof up to the Revolving Credit Optional Increase Amount, and subject to reduction or termination under Section 2.11 or 9.2 hereof.