Applicable Credit Limit definition

Applicable Credit Limit means $2,000,000. Advances under the Line of Credit shall be used for working capital and other general corporate purposes. On the date hereof, and without the necessity of any further action by any party, $2,000,000 of the Existing Principal Amount shall be deemed to be advances outstanding under the Line of Credit. The "Existing Principal Amount" means the principal amount outstanding on the date hereof under the Existing Line of Credit and the Existing Term Loan.
Sample 1
Applicable Credit Limit means the Ferrostaal credit limit for a Customer for Products sold to such Customer set forth on Exhibit A hereto, as such Applicable Credit Limit may be modified from time to time by mutual written agreement of both parties hereto.
Sample 1

Examples of Applicable Credit Limit in a sentence

  • As used herein the term "Applicable Credit Limit" means the Ferrostaal credit limit for a Customer for Products sold to such Customer set forth on Exhibit A hereto, as such Applicable Credit Limit may be modified from time to time by mutual written agreement of both parties hereto.

  • Ferrostaal shall use commercially reasonable efforts to collect all Customer accounts within terms so that the Applicable Credit Limit of a Customer is not exceeded.

  • The first credit facility covered by this Letter Agreement is a committed revolving line of credit under which Borrower may request and the Bank, subject to the terms and conditions of this Letter Agreement, will make advances to Borrower from time to time until the Expiration Date, in an amount in the aggregate at any time outstanding not to exceed the Applicable Credit Limit (the "Line of Credit").

  • Upon receipt by Ferrostaal of a purchase order by a Customer for Products, Ferrostaal shall submit to Geneva, a Ferrostaal purchase order for such Products, provided that such order is for a Customer and (a) would not cause the Applicable Credit Limit, as hereinafter defined, for such Customer to be exceeded, or (b) would cause the Applicable Credit Limit to be exceeded but Ferrostaal has approved such order.

Related to Applicable Credit Limit

  • Available Credit means, at any time, (a) the then effective Revolving Credit Commitments minus (b) the aggregate Revolving Credit Outstandings at such time.

  • Applicable Credit Support Percentage As defined in Section 4.02(e).

  • Credit Limit means the total dollar amount of the Account which we approved and which you may borrow against according to the terms of this Agreement.

  • Applicable Commitment Percentage means, with respect to each Lender at any time, a fraction, the numerator of which shall be such Lender's Revolving Credit Commitment and the denominator of which shall be the Total Revolving Credit Commitment, which Applicable Commitment Percentage for each Lender as of the Closing Date is as set forth in Exhibit A; provided that the Applicable Commitment Percentage of each Lender shall be increased or decreased to reflect any assignments to or by such Lender effected in accordance with Section 11.1.

  • Maximum Swingline Amount means $5,000,000.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Revolving Multicurrency Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Multicurrency Commitments.

  • Applicable Creditor has the meaning assigned to such term in Section 9.14(b).

  • Applicable Credit Rating For any long-term deposit or security, a credit rating of AAA in the case of S&P or Aaa in the case of Moody's. For any shxxx-xxxm deposit or security, or a rating of A-l+ in the case of S&P or P-1 in the case of Moody's.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

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

  • Revolving Dollar Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Dollar Commitments.

  • Committed Amount shall have the meaning assigned thereto in the Pricing Side Letter.

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

  • Applicable Multicurrency Percentage means, with respect to any Multicurrency Lender, the percentage of the total Multicurrency Commitments represented by such Multicurrency Lender’s Multicurrency Commitment. If the Multicurrency Commitments have terminated or expired, the Applicable Multicurrency Percentages shall be determined based upon the Multicurrency Commitments most recently in effect, giving effect to any assignments.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • 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.

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Total Revolving Credit Exposure means, as to any Revolving Credit Lender at any time, the unused Revolving Credit Commitments and the Revolving Credit Exposure of such Revolving Credit Lender at such time.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • LOC Committed Amount means, collectively, the aggregate amount of all of the LOC Commitments of the Lenders to issue and participate in Letters of Credit as referenced in Section 2.4 and, individually, the amount of each Lender’s LOC Commitment as specified in Schedule 2.1(a).

  • Maximum Credit Amount means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04(b).

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

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