Credit Extension Conditions definition

Credit Extension Conditions means, in relation to any determination thereof at any time, the requirements that:
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Credit Extension Conditions means, in connection with a Credit Extension, the requirements that:
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Credit Extension Conditions means, in relation to any determination thereof at any time, the requirements that: (a) the Total Outstandings at such time shall not exceed the Combined Loan Cap at such time (other than as a result of any Protective Advance); (b) the Revolving Credit Outstandings at such time shall not exceed the Revolving Loan Cap at such time (other than as a result of any Protective Advance); (c) the Revolving Credit Exposure of any Revolving Credit Lender (other than the Revolving Credit Lender acting as the Swing Loan Lender) at such time shall not exceed the Revolving Credit Commitment of such Lender at such time (or, as applicable, the Revolving Credit Commitments of any applicable Class of such Revolving Credit Lender); (d) solely in connection with any Borrowing by an English Borrower, the Total Outstandings at the time of such Borrowing consisting of Credit Extensions made to the English Borrowers shall not exceed $400,000,000; (e) solely in connection with the Issuance of any Letter of Credit, the Letter of Credit Obligations at such time shall not exceed the Letter of Credit Sublimit; and (f) solely in connection with the making of any Swing Loans, the Swing Loan Obligations at such time shall not exceed the Swing Loan Sublimit. “Cure Amount” has the meaning specified in Section 10.4(b). “Cure Expiration Date” has the meaning set forth in Section 10.4(a). “Current Asset Collateral” means all the “ABL Priority Collateral” as defined in the Senior Notes Intercreditor Agreement, as attached hereto on the Closing Date. “Customer Credit Liabilities” means, at any time, the aggregate remaining balance at such time of (a) outstanding gift certificates and gift cards of the Loan Parties (or any Subsidiary that issues gift cards) entitling the holder thereof to use all or a portion of the certificate or gift card to pay all or a portion of the purchase price for any Inventory of the Loan Parties, (b) “bounceback” obligations of the Loan Parties, to the extent the Loan Parties may be liable for such obligations, (c) outstanding insurance card obligations of the Loan Parties, to the extent the Loan Parties may be liable for such obligations, and (d) outstanding merchandise credits and, to the extent not fully processed, customer refund obligations of the Loan Parties with respect to Inventory of the Loan Parties. “Customer Credit Liability Reserve” means a reserve in respect of Customer Credit Liabilities, customer deposits and layaway payments. “Debt Service Charges” m...
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Examples of Credit Extension Conditions in a sentence

  • No Issuing Bank shall have any obligation to issue a Letter of Credit unless, after giving effect to the requested issuance, each of the applicable Credit Extension Conditions (including each of the LC Conditions) shall be satisfied.

  • The Borrower shall use its commercially reasonable efforts to, and procure that the Account Parties shall, ensure that all relevant Funds at Lloyd's of the Account Parties (including Own FAL but excluding Letters of Credit) (collectively, "Subordinated Funds at Lloyd's") are applied before any Letter of Credit issued to support the Subject Business of any Account Party is drawn.2.03 Letters of Credit.(a) L/C Credit Extension Conditions.

Related to Credit Extension Conditions

  • Credit Extension Date means the Borrowing Date for an Advance or the issuance date for a Facility LC.

  • Extension Conditions Defined in Section 3.06(a).

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Credit Extension means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • L/C Credit Extension means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry date thereof, or the increase of the amount thereof.

  • Revolving Credit Extension Request shall have the meaning provided in Section 2.14(f)(ii).

  • LC Conditions has the meaning given to such term in Section 2.9.

  • Request for Credit Extension means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.

  • Funding Conditions With respect to any proposed Funding Date, the following conditions:

  • Extension of Credit means, as to any Lender, the making of a Loan by such Lender (or a participation therein by a Lender) or the issuance of, or participation in, a Letter of Credit by such Lender.

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Additional Credit Extension Amendment means an amendment to this Agreement providing for any Incremental Commitments which shall be consistent with the applicable provisions of this Agreement relating to such Incremental Commitments and otherwise reasonably satisfactory to the Administrative Agent and the Borrower.

  • Credit Extensions mean each of the following: (a) a Borrowing and (b) an L/C Credit Extension.

  • Minimum Extension Condition has the meaning assigned to such term in Section 2.23(b).

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Credit Event Notice means an irrevocable notice from the Issuer or the Swap Counterparty, as the case may be, to the other party (in the form and delivered in the manner described in the Default Swap) that describes a Credit Event that occurred on or after the Effective Date of the Default Swap.

  • Letter of Credit Borrowing shall have the meaning set forth in Section 2.12(d).

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Credit Event UPB With respect to any Credit Event Reference Obligation, the unpaid principal balance thereof as of the end of the Reporting Period related to the Payment Date that it became a Credit Event Reference Obligation.

  • Litigation Conditions has the meaning set forth in Section 11.3.

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Liquidity Condition means an event of immediate termination or suspension as specified in a Liquidity Facility, upon the occurrence of which the Standby Purchaser is not obligated to purchase Multi-Modal Bonds, and, accordingly, such Bonds are not subject to tender for purchase.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).