Available Facility Limit definition

Available Facility Limit means the Facility Limit minus the Loan Balance.

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Available Facility Limit means the Facility Limit less any amounts used by the Borrower from the Facility Limit, calculated by reference to the Reference Currency of such Facility Limit. Revolving Facility Limit means a Facility Limit up to which multiple utilisations can be made and which is replenished with the appropriate value of the repaid amounts.

Available Facility Limit means the value of the Facility Limit less (i) the value of any discounted and uncollected Negotiable Instruments or Letters of Credit plus (ii) the value of any Negotiable Instruments or Letters of Credit for which a Discounting Request was submitted. Revolving Facility Limit means a Facility Limit within the limit of which multiple discounting can be made and which is replenished with the appropriate value of the amounts collected on the due date of the discounted Negotiable Instruments and Letters of Credit.

Examples of Available Facility Limit in a sentence

The Bank is entitled, at any time throughout the period of the revocable Facility Limit, mentioned as such in the Framework Discounting Agreement or Credit Facility Agreement, irrespective of the occurrence of any Event of Default and without any prior formalities, to diminish or cancel the Available Facility Limit.
If, within the Multiproduct Facility, Credit Facilities have been granted in other currencies than the Reference Currency, and by a full utilisation of the overdraft Subceilings the Available Credit Limit would be exceeded, the Bank will automatically block a part of the value of the overdraft Subceilings in order not to allow the exceeding of the Available Facility Limit.
If, within the Multiproduct Facility, Credit Facilities have been granted in other currencies than the Reference Currency, and by a full utilisation of the credit line Subceilings the Available Credit Limit would be exceeded, the Bank will automatically block a part of the value of the credit line Subceilings in order not to allow the exceeding of the Available Facility Limit.
The amount which is blocked shall be calculated as the aggregate sum of the overdraft Subceilings which would determine, if used, the exceeding of the Available Facility Limit.
The Bank shall comply with the Utilisation Requests in the order in which they are registered / received and up to the Available Facility Limit, being agreed by each of the Borrowers that the Utilisation Requests in excess of the Facility Limit will be rejected by the Bank.
The amount which is blocked shall be calculated as the aggregate sum of the credit line Subceilings which would determine, if used, the exceeding of the Available Facility Limit.
The Agent shall, upon completion of each such annual test, notify the Borrower of the Available Facility Limit which is then available for drawing and in the event that the Loans outstanding at that time exceed the revised Available Facility Limit the Borrower shall repay such part of the Loans as exceed the Available Facility Limit.
Each Loan shall be in a minimum amount equal to the lesser of (i) $1,000,000 and (ii) the Available Facility Limit (before giving effect to such Loan).
In addition to the times specified in Clause 4.1 (First Availability Date) and Clause 4.2 (Availability of Loans for Additional Ships) the test specified in Clause 4.5 (Available Facility Limit) shall be applied by the Agent on an annual basis in January of each year.
The Agent shall notify the Borrower and the Lenders promptly upon being so satisfied and at the same time shall notify the Borrower of the amount of the Facility which is then available for drawing (the "Available Facility Limit") applying the test specified in Clause 4.5 (Available Facility Limit).

More Definitions of Available Facility Limit

Available Facility Limit at any given point of time means the amount by which the Facility Limit exceeds the aggregate amount due by the Borrower/s in respect of Loans outstanding at that point of time.