Available RC Commitment definition

Available RC Commitment as to any Lender at any time, an amount equal to the excess, if any, of (a) the amount of such Lender's Revolving Credit Commitment at such time over (b) the Aggregate Outstanding RC Extensions of Credit by such Lender at such time.

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Available RC Commitment means, as of any date, the difference obtained by subtracting (a) minus (b) where (a) is the amount of the RC Commitment on such date and (b) is the aggregate outstanding principal amount of all Loans plus amounts available to be drawn under Letters of Credit on such date.

Available RC Commitment the meaning specified in Subsection 2.1.2 (Available RC Commitment).

Examples of Available RC Commitment in a sentence

• The Borrower further agrees that the Issuing Bank may reimburse itself for such drawing at any time when there is no Available RC Commitment from the balance in any other account of the Borrower maintained with the Issuing Bank.

• Without limiting any other rights to payment under the Loan Documents, the Borrower, for itself and on behalf of each Subsidiary, further agrees that the Issuing Bank may reimburse itself for such drawing at any time when there is no Available RC Commitment from the balance in any other account of the Borrower maintained with the Issuing Bank.

• If the Borrowers shall fail to make any payment required by this paragraph (f) at the time specified, and if at such time, there shall be any Available RC Commitment, the Administrative Agent may (but is not obligated to) assume that the Borrowers intend to use the proceeds of RC Loans to make such payment.

• If the Borrowers shall fail to make any payment required by this paragraph (g) at the time specified, and if at such time, there shall be any Available RC Commitment, the Administrative Agent may (but is not obligated to) assume that the Borrowers intend to use the proceeds of RC Loans to make such payment.

• Subject to the terms and conditions hereof, each Revolving Credit Lender severally agrees to make loans ("Revolving Credit Loans") to the Borrower from time to time during the Revolving Credit Commitment Period in an aggregate principal amount at any one time outstanding not to exceed the amount of such Revolving Credit Lender's Available RC Commitment then in effect.

More Definitions of Available RC Commitment

Available RC Commitment means at any time an amount equal to the lesser of (i) and (ii) where:

Available RC Commitment means, as of any date, the difference obtained by subtracting (a) minus (b) where (a) is the amount of the RC Commitment on such date and (b) is the aggregate outstanding principal amount of all RC Loans plus Contingent Reimbursement Obligations on such date plus the aggregate outstanding amount of all unreimbursed Drawings on such date.

Available RC Commitment as to any Revolving Credit Lender at any time, an amount equal to (a) the amount of such Revolving Credit Lender's Revolving Credit Commitment at such time minus (b) the sum of (i) the Aggregate Outstanding RC Extensions of Credit of such Revolving Credit Lender at such time and (ii) prior to the Refinancing Closing Date, such Revolving Credit Lender's Pro Rata Share of the Restricted Amount.

Available RC Commitment means the initial RC Commitment, as the same is reduced or increased (as provided in clause (e) below) by:

Available RC Commitment means, as of any date, the difference obtained by subtracting (a) minus (b) where (a) is the amount of the RC Commitment on such date and (b) is the aggregate outstanding principal amount of all RC Loans on such date. "Bank Tax" means (i) any Tax based on or measured by net income of a Lender Party, any franchise Tax and any doing business Tax imposed upon any Lender Party by any jurisdiction (or any political subdivision thereof) in which such Lender Party or any lending office of a Lender Party is located and (ii) for the purposes of Section 1.13, any other Tax imposed by a jurisdiction other than the United States or a political subdivision thereof that would not have been imposed but for a present or former connection between such Lender Party or lending office (as the case may be) and such jurisdiction. "Borrowers" has the meaning ascribed to such term in the preamble hereto. It is the intent of the parties (and a covenant of the Borrowers herein) that each Person which is now or hereafter becomes a direct or indirect Subsidiary of J & J shall at all times after becoming a Subsidiary of J & J be a "Borrower" pursuant to the terms of this Agreement. PR\79666\1 -67-

Available RC Commitment an amount equal to the amount of the ----------------------- Available Commitment reduced at any time that this Agreement provides for Swing Loans by Four Million Dollars.

Available RC Commitment means an amount equal to the RC Commitment, as the same is reduced by: