Borrowing Limitation definition

Borrowing Limitation definition appearing in Section 10.1 shall be changed in its entirety to read as follows:
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Borrowing Limitation means an amount equal to the lesser of (A) Fifteen Million Dollars ($15,000,000); or (B) the Borrowing Base.
Sample 1
Borrowing Limitation means, (a) from and after the Fifth Amendment Effective Date and until the date that the next Semi-Annual Redetermination that is scheduled to occur pursuant to Section 2.2(b)(ii) on or about November 1, 2020 becomes effective pursuant to the terms of this Agreement (and any Credit Document related thereto), $50,000,000, and (b) at any time after such Semi-Annual Redetermination described in clause (a) is effective, $0.
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Examples of Borrowing Limitation in a sentence

  • Using Inter-fund Lending template, perform Eligibility Test and Borrowing Limitation Calculation a.

  • On the date of delivery of any applicable Borrowing Base Certificate pursuant to subsection 6.1(xviii), Borrower shall from time to time prepay the Loans (and shall cause any applicable Foreign Loan Party to prepay such Foreign Loan Party’s Intercompany Loans) to the extent necessary so that no Borrowing Limitation is then exceeded.

  • Notwithstanding the foregoing, the Company agrees with the Lenders and the Agent and the Lenders that the Borrowing Limitation shall not affect its obligation to pay Revolving Credit Commitment Fees pursuant to Section 4.01(a) of the Credit Agreement.

  • Anything contained in this Agreement to the contrary notwithstanding, the Revolving Loans and the Revolving Loan Commitments shall be subject to the limitations that, (a) after giving effect to any requested Revolving Loan, no Borrowing Limitation shall be exceeded, and (b) the aggregate amount of all Revolving Loans that are Foreign Currency Loans shall not exceed the Dollar Equivalent of $25,000,000.

  • The Borrower has requested that the Lenders extend credit to the Borrower in the form of Revolving Credit Commitments in an initial aggregate principal amount of $30,000,000 (the “Revolving Credit Facility”) (subject to the Initial Borrowing Limitation) available in US Dollars.

  • Upon the effectiveness of this Tenth Amendment as described in §3 above, the Required Lenders and the Administrative Agent hereby waive the Borrowing Limitation Requirement contained in Section 2.1(a)(iv) of the Credit Agreement for the calendar year ending December 31, 2008.

  • With the increase in the appraised value, the Partnership was able to draw down the full amount of the credit facility without exceeding the Borrowing Limitation.

  • In respect of the foregoing, the Unused Loan Fee shall continue to be charged based on the Lenders' Revolving Loan Commitments, notwithstanding the implementation of the Borrowing Limitation.

  • Notwithstanding anything contained herein to the contrary, the Dollar Equivalent of the aggregate amount of Advances outstanding to Borrower under the Lines of Credit, shall not at any time exceed the amount of the Override Borrowing Limitation.

  • As to the Line of Credit Note in the principal amount of $750,000.00, the following provisions shall apply: Borrowing Limitation.


More Definitions of Borrowing Limitation

Borrowing Limitation means an amount equal to the lesser of (A) the Borrowing Base; or (B) $9,668,000, reducing, however, to $9,318,000, on the Amendment Date; $9,218,000, on June 20, 2002, and $9,118,000, on July 20, 2002, in conjunction with mandatory reductions in the Revolving Loans outstanding of not less than $350,000, $100,000, and $100,000 being required to be made, respectively, on each of the aforesaid dates, and reducing to zero (0) on the Expiry Date.
Sample 1
Borrowing Limitation means an amount equal to the lesser of (A) the Borrowing Base; or (B) $9,668,000, reducing, however, to (i) $9,318,000, on May 20, 2002, (ii) $9,068,000, on July 1, 2002, and (iii) subsequent to July 1, 2002, to $9,068,000 minus the sum of $250,000 per month, effective on the first day of each succeeding calendar month; e.g., said amount shall reduce to $8,818,000 effective on August 1, 2002; the foregoing to be accompanied by mandatory reductions in the Revolving Loans then outstanding of not less than $350,000, to be made on May 20, 2002, and not less than $250,000 per month, to be made beginning on the first day of July, 2002, and continuing on the first day of each succeeding calendar month thereafter; and reducing to zero (0) on the Expiry Date.
Sample 1
Borrowing Limitation means, (a) from and after the Fifth Amendment Effective Date and until the date that the next Semi-Annual Redetermination that is scheduled to occur pursuant to S ection 2.2(b)(ii) on or about November 1, 2020 becomes effective pursuant to the terms of this Agreement (and any Credit Document related thereto), $50,000,000, and
Sample 1

Related to Borrowing Limitation

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Borrowing Availability means as of any date of determination the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Swingline Borrowing means a Borrowing comprised of Swingline Loans.

  • Swingline Loan Request has the meaning set forth in Section 2.06(b).

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Notice of Revolving Credit Borrowing has the meaning specified in Section 2.02(a).

  • Swing Line Borrowing Notice is defined in Section 2.4.2.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Swingline Borrowing Request means a request by a Borrower substantially in the form of Exhibit C-2.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Committed Borrowing means a borrowing consisting of simultaneous Committed 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.

  • Notice of Committed Borrowing has the meaning specified in Section 2.02(a).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Credit Availability means, at any particular time, the amount by which the Maximum Revolving Credit Amount at such time exceeds the Revolving Credit Obligations at such time.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • Swing Line Borrowing means a borrowing of a Swing Line Loan pursuant to Section 2.04.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.15(a)(ii).

  • Swing Line Loans as defined in Section 2.2(a).

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.