Bank Product Debt definition

Bank Product Debt means the Indebtedness and other obligations of any Credit Party or Subsidiary relating to Bank Products.

Bank Product Debt. Debt and other obligations of an Obligor relating to Bank Products.

Bank Product Debt means Debt and other obligations of the Borrower and any of its Subsidiaries relating to Bank Products.

Examples of Bank Product Debt in a sentence

• Agent shall have no obligation to calculate the amount to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the amount (setting forth a reasonably detailed calculation) from the Secured Party.

• Amounts distributed with respect to any Bank Product Debt shall be the lesser of the applicable Bank Product Amount last reported to Agent or the actual Bank Product Debt as calculated by the methodology reported to Agent for determining the amount due.

• The Administrative Agent shall have no obligation to calculate the amount to be distributed with respect to any Bank Product Debt, but may rely upon written notice of the amount (setting forth a reasonably detailed calculation) from the applicable Bank Product Provider.

• Amounts distributed with respect to any Bank Product Debt shall be the last Bank Product Amount reported to the Administrative Agent; provided that any such Bank Product Provider may provide an updated Bank Product Amount to the Administrative Agent prior to payments made pursuant to this Section.

• Bank Product Debt: Debt and other obligations of an Obligor relating to Bank Products.

More Definitions of Bank Product Debt

Bank Product Debt has the meaning assigned thereto in the Revolver Loan Agreement on the Closing Date. Bankruptcy Code: Title 11 of the United States Code. Base Rate: on any day, the greater of (i) the rate of interest publicly announced by the Reference Bank in New York, New York from time to time as its reference rate, base commercial lending rate or prime rate and (ii) 3.50% per annum. The reference rate, base commercial lending rate or prime rate is determined from time to time by the Reference Bank as a means of pricing some loans to its borrowers and neither is tied to any external rate of interest or index nor necessarily reflects the lowest rate of interest actually charged by the Reference Bank to any particular class or category of customers. Each change in the Reference Rate shall be effective from and including the date such change is publicly announced as being effective.

Bank Product Debt. Debt and other obligations of an Obligor relating to Bank Products. Bank Product Reserve: the aggregate amount of reserves established by Agent from time to time in its discretion in respect of Secured Bank Product Obligations. Bankruptcy Code: Title 11 of the United States Code. Base Rate: for any day, a per annum rate equal to the greater of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; or (c) LIBOR for a 30 day interest period as determined on such day, plus 1.0%.

Bank Product Debt of any Person shall mean the Indebtedness and other obligations of such Person pursuant to any Bank Products.

Bank Product Debt. Indebtedness and other obligations of a Loan Party or any of their respective Restricted Subsidiaries relating to Bank Products.

Bank Product Debt means Indebtedness and other obligations of a Loan Party relating to Bank Products. The amount of the Bank Product Debt may be changed from time to time upon written notice to the Administrative Agent by the Secured Party and the Loan Party. No new Bank Product may be established or existing Bank Product Debt voluntarily increased at any time that a Default exists, or if a reserve against such amounts would cause an Overadvance.

Bank Product Debt means the Indebtedness and other obligations of any Credit Party or Restricted Subsidiary relating to Bank Products.

Bank Product Debt means Indebtedness and other obligations (including Hedging Obligations and Cash Management Obligations) of a Borrower or any of Company’s Restricted Subsidiaries relating to Bank Products.