Available Draw Amount means (i) on any day prior to the occurrence of a Voluntary Insolvency Event or an Involuntary Insolvency Event, the Series 2002-1 Letter of Credit Amount on such day, less the difference, if positive, between the Minimum Liquidity Amount on such day and the Cash Liquidity Amount, if any, on such day and (ii) on any day on and after the occurrence of a Voluntary Insolvency Event or an Involuntary Insolvency Event, the Series 2002-1 Letter of Credit Amount on such day.
Available Draw Amount means, as of any date of determination with respect to any letter of credit, the amount available to be drawn thereunder on such date.
Available Draw Amount means, as of any date of determination with respect to any letter of credit, the amount available to be drawn thereunder on such date; provided that, if an LC Default shall have occurred with respect thereto, then the “Available Draw Amount” with respect to such letter of credit for purposes of this Agreement shall be equal to zero.
Examples of Available Draw Amount in a sentence
Subject to the terms and conditions of this Agreement, upon Xxxxxxxx’s request and no more frequently than Quarterly, Lender shall make advances to Borrower under a Working Capital Line during the Draw Period (each a “Working Capital Loan” and collectively, the “Working Capital Loans”) in an aggregate principal amount not to exceed the lesser of the Available Draw Amount or the outstanding principal balance of any Term Loans.
The Borrower agrees to pay to the Administrative Agent for the account of each Lender a non-refundable ticking fee (the “Ticking Fee”) from and including February 17, 2019 to, but excluding, the date upon which all of the Commitments have expired or been terminated or the Available Draw Amount is zero (0), computed at 0.125% per annum on the average daily amount of the Available Draw Amount of such Lender during the period for which payment is made.
The Ticking Fees shall be due and payable in arrears on the date upon which all of the Commitments have expired or been terminated or the Available Draw Amount is zero, and will not be refundable under any circumstances.
Subject to the terms and conditions of this Agreement, upon Xxxxxxxx’s request and no more frequently than Quarterly, Lender shall make term loan advances available to Borrower in multiple advances during the Draw Period (each, a “Term Loan” and, collectively, the “Term Loans”) in an aggregate principal amount not to exceed the Available Draw Amount.
Such Ticking Fees shall be payable on the date upon which all of the Commitments have expired or been terminated or the Available Draw Amount is zero (0).
More Definitions of Available Draw Amount
Available Draw Amount means (a) with respect to the payment of principal on the Series 2001-3 Notes and all other obligations of the Issuer other than the payment of interest on the Series 2001-3 Notes and servicing fees (i) on any Distribution Date prior to the Series 2001-3 Termination Date, the Series 2001-3 Letter of Credit Amount on such day, less the difference, if positive, between the Minimum Liquidity Amount on such day and the Cash Liquidity Amount, if any, on such day, and (ii) on the Series 2001-3 Termination Date, the Series 2001-3 Letter of Credit Amount on such day, and (b) with respect to the payment of interest on the Series 2001-3 Notes and servicing fees on any Distribution Date, the Series 2001-3 Letter of Credit Amount on such day.
Available Draw Amount is the dollar amount Borrower can draw upon, which is the lesser of (A) the Total Commitment minus the outstanding principal balance of any Credit Extensions or (B) the Borrowing Base minus the outstanding principal amount and accrued interest of all outstanding Credit Extensions. “Borrower” is defined in the preamble hereof. “Borrower’s Board” is Xxxxxxxx’s board of directors.
Available Draw Amount means (i) on any day during an Insolvency Period or on or after the Series 2011-1 Final Maturity Date, the Series 2011-1 Letter of Credit Liquidity Amount on such day, and (ii) on any other day, the Series 2011-1 Letter of Credit Liquidity Amount on such day, less the excess, if any, of the Series 2011-1 Minimum Liquidity Amount over the Series 2011-1 Cash Liquidity Amount, if any.
Available Draw Amount means (i) on any day during an Insolvency Period or on or after the Series 2011-2 Final Maturity Date (or any day during the Series 2011-2 Rapid Amortization Period if requested by the Controlling Noteholder by written notice to the Trustee and the Issuer), the Series 2011-2 Letter of Credit Liquidity Amount on such day, and
Available Draw Amount means (i) on any day prior to the occurrence of a Voluntary Insolvency Event or an Involuntary Insolvency Event, the Series 2003-1 Letter of Credit Amount on such day, less the difference, if positive, between the Minimum Liquidity Amount on such day and the Cash Liquidity Amount, if any, on such day or (ii) on any day on and after the occurrence of a Voluntary Insolvency Event or an Involuntary Insolvency Event or on the Series 2003-1 Termination Date (or on any earlier Payment Date if all obligations of the Issuer under the Series 2003-1 Notes due on or before the Series 2003-1 Termination Date (other than amounts due to the Series 2003-1 Insurer through its rights of subrogation) have been satisfied in full), the Series 2003-1 Letter of Credit Amount on such day.
Available Draw Amount means at any time of determination, an amount equal to the greater of (a) zero and (b) (i) the Aggregate Commitments at such time minus (ii) the aggregate amount of all Borrowings made prior to such date. “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. “Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1%, (b) the Prime Rate, and (c) the one-month Eurodollar Rate for such day plus 1.00%; provided that, if the Base Rate shall be less than zero (0), such rate shall be deemed zero (0) for all purposes of this Agreement. “Base Rate Loan” means a Loan that bears interest based on the Base Rate. “Borrower” has the meaning specified in the introductory paragraph hereto. “Borrowing” means a borrowing consisting of simultaneous Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located or the state of New York, and, if such day relates to any Eurodollar Rate Loan, means any such day on which dealings in Dollar deposits are conducted by and between banks in the London interbank Eurodollar market. “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent or other amounts under any lease (or other arrangement conveying the right to use) of real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP. It is understood that with respect to the accounting 3 4847-1285-6953 v.7
Available Draw Amount means, as of any date of determination with respect to any letter of credit, the amount available to be drawn thereunder on such date; provided that, if an LC Default shall have occurred with respect thereto, then the “Available Draw Amount” with respect to such letter of credit for purposes of this Agreement shall be equal to zero. “Average Credit Profile” means, with respect to all of the Projects selling power pursuant to one or more Power Purchase Agreements at any date, the average credit profile of all of the customers of all such Projects at such date (based on the respective ratings or credit scores of such customers, weighted by the present value of the future expected payments in respect of each such customer’s account (determined using a discount rate of 6.0%)), and calculated in a manner consistent with the calculation of the Average Credit Profile on the Closing Date as agreed between the Borrower and the Blackstone Representative. “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. “Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. “Bankruptcy Code” means the U.S. Bankruptcy Code, being Title 11 of the U.S. Code. “Blackstone Asset Based Finance” means Blackstone Asset Based Finance Advisors LP. “Blackstone Asset Based Finance Affiliates” means Affiliates of Blackstone Asset Based Finance within the structured finance group of The Blackstone Group Inc.