Canadian Loan Cap means, at any time of determination, the lesser of (a) the Canadian Total Commitments and (b) the Canadian Borrowing Base.
Canadian Loan Cap means, at any time of determination, the lesser of (a) the Canadian Total Revolving Commitments and (b) the Canadian Borrowing Base.
Canadian Loan Cap on any date, the lesser of (x) the Maximum Canadian Credit Amount in effect on such date, and (y) the Canadian Borrowing Base as of such date (based upon the Canadian Borrowing Base set forth in the most recent Borrowing Base Certificate delivered by the Borrower Representative to the Administrative Agent).
Examples of Canadian Loan Cap in a sentence
If, at any time, (A) the U.S. Usage on such date exceeds the U.S. Loan Cap, or (B) the Canadian Usage exceeds the Canadian Loan Cap, each Borrower shall promptly, but in any event within one (1) Business Day, prepay the applicable Finance Obligations owed by it in an aggregate amount equal to such excess.
In such event, the applicable Borrower shall be deemed to have requested a Borrowing of Prime Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, subject to the amount of the unutilized portion of the Loan Cap, Canadian Loan Cap, German Loan Cap or UK Loan Cap, as applicable, and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice).
More Definitions of Canadian Loan Cap
Canadian Loan Cap means, at any time of determination, the lesser of (a) $10,100,000, reduced by any repayments of the Canadian Liabilities and (b) the Canadian Borrowing Base.
Canadian Loan Cap means, at any time of determination, the lesser of (a) the Canadian Total Commitments and (b) the Canadian Borrowing Base. “Canadian Loan Notice” means a notice of (a) a Canadian Borrowing, (b) a Conversion of Canadian Loans from one Type to the other, or (c) a
Canadian Loan Cap means, at any time of determination, the lesser of (a) the Canadian Total Commitments and (b) the Canadian Borrowing Base. “Canadian Loan Parties” means, collectively, the Canadian Borrower, the Foreign Borrower and each Canadian Subsidiary that is a Guarantor of theCanadian Liabilities. “Canadian Loan Party” means any one of such Persons.