Asset Based Revolver definition

Asset Based Revolver means any Revolving Loan (other than a Loan to an SPE Obligor) secured by accounts receivable and/or inventory.
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Asset Based Revolver means any Revolving Obligation secured by accounts receivable and/or inventory and with respect to which borrowings are based on the value of such accounts received or inventory.
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Examples of Asset Based Revolver in a sentence

  • In November 2013, SCL executed a $335,000 credit agreement (Asset Based Revolver or ABR) with certain financial institutions with Bank of America as agent.

  • As of December 31, 2013, SCL was not required to test the FCCR as availability was above the threshold.At December 31, 2013, eligible accounts receivables and inventories at SCL supported borrowing capacity under the Asset Based Revolver of $326,132, of which up to $278,940 could be borrowed after subtracting the amount of borrowings outstanding and the amount of letters of credit outstanding.

Related to Asset Based Revolver

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Additional Revolving Facility means any revolving credit facility added pursuant to Sections 2.22, 2.23 or 9.02(c)(ii).

  • Replaced Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Existing Revolver Tranche has the meaning set forth in Section 2.16(b).

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Average Revolver Usage means, with respect to any period, the sum of the aggregate amount of Revolver Usage for each day in such period (calculated as of the end of each respective day) divided by the number of days in such period.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • 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.

  • Existing Revolving Loans has the meaning specified in Section 2.16(a).

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

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Maximum Revolving Amount At any date as of which same is to be determined, the amount by which (x) $3,500,000 exceeds (y) the sum of (i) all then undrawn amounts of letters of credit issued by the Bank for the account of the Borrower plus (ii) all amounts then drawn on any such letter of credit which at said date shall not have been reimbursed to the Bank by the Borrower.

  • Initial Revolving Facility means the Initial Revolving Credit Commitments and the Initial Revolving Loans and other extensions of credit thereunder.

  • Applicable Revolver LIBOR Margin means the per annum interest rate from time to time in effect and payable in addition to the LIBOR Rate applicable to the Revolving Loan, as determined by reference to Section 1.5(a).

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d).

  • 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.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.