Borrower Collateral Limit definition

Borrower Collateral Limit means an amount equal to $750,000,000.
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Borrower Collateral Limit means, as of any date of determination, an amount equal to the sum of (a) 50% of the Aggregate Revolving Commitments at such time (calculated in Dollars), plus (b) 50% of the aggregate principal amount of each Class of Term Loans outstanding at such time (calculated for each Class of Term Loans in the currency in which the applicable Class of Term Loans is denominated).
Sample 1
Borrower Collateral Limit means an amount equal to $750,000,000.the sum of (a) $750,000,000 plus (b) an amount equal to 50% of the aggregate amount of the Term B Commitments in effect on the Second Amendment Effective Date plus (c) an amount equal to 50% of the aggregate principal amount of each increase in the Aggregate Commitments made pursuant to Section 2.13, including without limitation any such increase in connection with the Second Amendment that becomes effective after the Second Amendment Effective Date.
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Examples of Borrower Collateral Limit in a sentence

  • The Grantors and the Administrative Agent, on behalf of the Secured Parties, hereby further acknowledge and agree that solely with respect to the Borrower’s grant of a security interest in its Collateral pursuant to this Agreement and the other Collateral Documents, and for no other purpose, the amount of Secured Obligations (but not Obligations) of the Borrower shall be limited to an amount equal to the Borrower Collateral Limit.

  • The Borrower Collateral Limit shall not limit the amount of Secured Obligations guaranteed by the Guarantors under the Multiparty Guaranty, nor the amount of Secured Obligations secured by the Guarantors’ Collateral.


More Definitions of Borrower Collateral Limit

Borrower Collateral Limit means, as of any date of determination, an amount equal to the sum of (a) [$750,000,000 plus (b) an amount equal to ]50% of the [aggregate amount of the Term B Commitments in effect on the Second Amendment Effective Date plus (c) an amount equal to]Aggregate Revolving Commitments at such time (calculated in Dollars), plus (b) 50% of the aggregate principal amount of each [increase in the Aggregate Commitments made pursuant to Section 2.13, including without limitation any such increase in connection with the Second Amendment that becomes effective after the Second Amendment Effective Date]Class of Term Loans outstanding at such time (calculated for each Class of Term Loans in the currency in which the applicable Class of Term Loans is denominated).
Sample 1
Borrower Collateral Limit means an amount equal to (a) $400,000,000 until such time that either the 7.00% Senior Notes Due 2021 have been redeemed in full or the covenants in the Senior Notes Indenture applicable thereto are no longer in effect and (b) at all times thereafter, $750,000,000.
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Related to Borrower Collateral Limit

  • Borrower Collateral means all of Borrower's now owned or hereafter acquired right, title, and interest in and to each of the following:

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • ABL Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Initial Collateral Amount means $1,000,000,000, which equals the sum of (i) the Class A Note Initial Principal Balance, (ii) the Class B Note Initial Principal Balance, (iii) the Class C Note Initial Principal Balance and (iv) the Initial Excess Collateral Amount.

  • Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and (ii) otherwise, an amount sufficient to provide credit support with respect to such Revolving L/C Exposure as determined by the Administrative Agent and the Issuing Banks in their sole discretion.

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Facility LC Collateral Account is defined in Section 2.20.11.

  • Notes Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Maximum Collateral Amount The sum of the Principal Balance as of the Cut-off Date of the Initial Mortgage Loans and the Original Pre-Funded Amount.

  • Credit Agreement Collateral Agent has the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Term Priority Collateral has the meaning set forth in the Intercreditor Agreement.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • Senior Collateral Agent means Citicorp USA, Inc., in its capacity as Senior Collateral Agent under the Senior Collateral Documents, and its successors.

  • Threshold Event Collateral shall have the meaning assigned to such term in Section 5(g).

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.

  • Priority Collateral means the ABL Priority Collateral or the Term Priority Collateral, as applicable.

  • Letter of Credit Collateral has the meaning provided in Section 6.4.

  • Minimum Collateral Amount means, at any time, (a) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 100% of the Fronting Exposure of the Issuing Lenders with respect to Letters of Credit issued and outstanding at such time and (b) otherwise, an amount reasonably determined by the Administrative Agent and the Issuing Lenders in their sole discretion.

  • Guarantor Collateral all of the property (tangible or intangible) purported to be subject to the lien or security interest purported to be created by any security agreement, pledge agreement, assignment, mortgage, deed of trust or other security document heretofore or hereafter executed by any Guarantor as security for all or part of the Obligations or the Guarantees.

  • LC Collateral Account has the meaning assigned to such term in Section 2.06(j).

  • First Priority Collateral means all assets, whether now owned or hereafter acquired by the Borrower or any other Loan Party, in which a Lien is granted or purported to be granted to any First Priority Secured Party as security for any First Priority Obligation.