Aggregate Floorplan Loan Facility Limit definition

Aggregate Floorplan Loan Facility Limit means One Hundred Fifty Million Dollars ($150,000,000), as may be reduced pursuant to terms of Section 3.2.2 of this Agreement.
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Aggregate Floorplan Loan Facility Limit. One Hundred Million Dollars ($100,000,000). Aggregate Floorplan Loans — the from time to time outstanding principal balance of all Floorplan Loan Advances. Aggregate Revolving Loan Facility — the aggregate of each Lender’s Revolving Loan Facility.
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Aggregate Floorplan Loan Facility Limit means Two Hundred Million Dollars ($200,000,000), as may be reduced pursuant to terms of Section 3.2.2 of this Agreement. AGREEMENT and THIS AGREEMENT – means this Credit Agreement (including each exhibit or schedule hereto, whether or not physically attached to this document). APPLICABLE LENDING OFFICE – for each Administrative Agent and each Lender and for each Loan, means the “Applicable Lending Office” of such Administrative Agent or such Lender (or of an affiliate of such Lender) designated for such Loan on the signature pages hereof or such other office of such Lender (or an affiliate of such Administrative Agent or such Lender) as such Administrative Agent or such Lender may from time to time specify to the Administrative Agents (in the case of another Lender) and the Resellers by written notice in accordance with the terms hereof as the office by which its Loans are to be made and maintained. APPLICABLE RATE – means, for any day, with respect to any Adjusted LIBOR Loan as the case may be, the applicable rate per annum set forth below under the caption “Adjusted LIBOR Spread”, based upon the Total Leverage Ratio as reflected in the then most recently delivered quarterly or annual financials as required under Section 10.1: Pricing Level: Total Leverage Ratio: Adjusted LIBOR Spread: Level I Less than 1.00 to 1.00 1.25 % Level II Equal to or greater than 1.00 to 1.00 but less than 1.50 to 1.00 1.50 % Level III Equal to or greater than 1.50 to 1.00 but less than 2.00 to 1.00 1.75 % Level IV Equal to or greater than 2.00 to 1.00 but less than 2.50 to 1.00 2.00 % Level V Equal to or greater than 2.50 to 1.00 0.75 % 2.25 %
Sample 1

Examples of Aggregate Floorplan Loan Facility Limit in a sentence

  • Regardless of the payment terms pertaining to any Loans or anything contained in this Agreement to the contrary, if at the time of any determination, the sum of the principal amount of Resellers’ total outstanding Loan Obligations exceeds the Aggregate Floorplan Loan Facility Limit, Resellers will immediately pay to the Administrative Agents the sum of such excess.

  • Subject to the terms herein, each Lender shall, by funding such Lender’s Pro-Rata Share thereof as provided for herein, make available to Resellers such Lender’s Pro-Rata Share (as provided on Exhibit A hereto) of Floorplan Loan Advances in a principal amount not to exceed, in the aggregate, the Aggregate Floorplan Loan Facility Limit.

  • CPC may in the Administrative Agents’ sole discretion issue Approvals such that the sum of the aggregate amount of Approvals outstanding and the aggregate principal amount of Floorplan Loan Advances outstanding may exceed the Aggregate Floorplan Loan Facility Limit subject to Resellers’ obligation to pay down pursuant to Section 3.1.9, if applicable.

  • CPC may treat every request for a Floorplan Loan Advance as a request for an Interim Floorplan Loan Advance to the extent the requested amount does not exceed the Interim Floorplan Loan Facility and as a request for a Floorplan Loan Advance in the amount of the excess (to the extent the requested amount does not exceed the Aggregate Floorplan Loan Facility Limit when added to the Aggregate Floorplan Loans and the Interim Floorplan Loans).

  • As one of the conditions to entering into the Second Amendment, each of the Parent Guarantor and the Subsidiary Guarantors are required to (a) reaffirm its respective obligations and agreement to perform under the applicable Guarantee, and (b) acknowledge that as a result of increase to the Aggregate Floorplan Loan Facility Limit, the potential liability of the Parent Guarantor or such Subsidiary Guarantor under the Guarantees has broadened.

  • In connection with that certain Amendment No. 2 to Amended and Restated Credit Agreement, a copy of which is attached hereto as Exhibit 1 (the “Second Amendment”), the Lenders and the Administrative Agents have agreed to amend the Credit Agreement pursuant to the terms of the Second Amendment, which increase the Aggregate Floorplan Loan Facility Limit to Two Hundred Fifty Million Dollars ($250,000,000).

  • Such notice shall specify an effective date for such replacement or reduction of the Aggregate Floorplan Loan Facility Limit, which date shall not be later than 15 Business Days after the date such notice is given.


More Definitions of Aggregate Floorplan Loan Facility Limit

Aggregate Floorplan Loan Facility Limit is amended by replacing (a) the words “Two Hundred Million Dollars” with “Two Hundred Fifty Million Dollars”, and (b) the parenthetical dollar amount “($200,000,000)”, with “($250,000,000)”.
Sample 1

Related to Aggregate Floorplan Loan Facility Limit

  • Maximum Revolving Advance Amount means $25,000,000.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

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

  • Facility Limit means $100,000,000 as reduced or increased from time to time pursuant to Section 2.02(e) or 2.02(h), as applicable. References to the unused portion of the Facility Limit shall mean, at any time of determination, an amount equal to (x) the Facility Limit at such time, minus (y) the sum of the Aggregate Capital plus the LC Participation Amount.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Aggregate Maximum Credit Amounts at any time shall equal the sum of the Maximum Credit Amounts, as the same may be reduced or terminated pursuant to Section 2.06.

  • Maximum Revolving Credit Amount means $85,000,000.00.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Aggregate Revolving Commitment means the aggregate amount of the Revolving 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 Revolving Commitment is $150,000,000.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

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

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Aggregate Revolving Credit Commitment means the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at any given time. The Aggregate Revolving Credit Commitment on the Closing Date is $1,250,000,000.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Aggregate Term Loan Commitment means the combined Term Loan Commitments of the Lenders, which shall initially be in the amount of $50,000,000, as such amount may be reduced from time to time pursuant to this Agreement.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).