Canadian Available Credit definition

Canadian Available Credit means, as of any date of determination, the lesser of (a) the Canadian Commitment and (b) the Canadian Borrowing Base as most recently reported by the Credit Parties on or prior to such date of determination.
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Canadian Available Credit at any time, (a) the lesser of (i) the Canadian Revolver Sublimit in effect at such time and (ii) the Canadian Borrowing Base at such time, minus (b) the sum of the aggregate Canadian Revolver Credit Outstandings at such time.
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Canadian Available Credit means, as of any date of determination, the lesser of (a) the Canadian Commitment and (b) the Canadian Borrowing Base as most recently reported by the Credit Parties on or prior to such date of determination. “Canadian Base Rate” means, at any time, the annual rate of interest equal to the greater of (a) the annual rate from time to time publicly announced by Agent (or a bank that is listed on Schedule 1 of the Bank Act (Canada) acceptable to Agent) as its prime rate in effect for determining interest rates on Canadian Dollar denominated commercial loans made in Canada and (b) the annual rate of interest equal to the sum of the 30-day BA RateTerm XXXXX for an Interest Period of one month’s duration at such time plus 1% percent per annum. In no event shall the Canadian Base Rate be less than zero for purposes of this Agreement. “Canadian Base Rate Loan” means a Loan or portion thereof made in Canadian Dollars bearing interest by reference to the Canadian Base Rate. “Canadian Borrower” and “Canadian Borrowers” has the meaning specified in the preamble to this Agreement.
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Examples of Canadian Available Credit in a sentence

  • If any time the outstanding amount of the Canadian Loans exceed the Canadian Available Credit, Borrowers shall immediately repay the aggregate outstanding Revolving Credit Advances made to the Canadian Borrowers to the extent required to eliminate such excess.


More Definitions of Canadian Available Credit

Canadian Available Credit means, at any time, (a) the least of (i) the Canadian Revolving Sublimit, (ii) the then effective Revolving Commitments minus the aggregate US Revolving Credit Outstandings at such time and (iii) the Canadian Borrowing Base at such time, minus (b) the sum of (i) the aggregate Canadian Revolving Credit Outstandings at such time and (ii) any applicable Availability Reserve in effect at such time.
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Related to Canadian Available Credit

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

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

  • Aggregate Credit Exposure means, at any time, the aggregate Credit Exposure of all the Lenders at such time.

  • Revolving Multicurrency Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Multicurrency Commitments.

  • Revolving Dollar Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Dollar Commitments.