Current Asset Loans definition

Current Asset Loans means that portion of the Revolving Loans that is predicated on the value of Eligible Accounts and Eligible Inventory.
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Current Asset Loans means, collectively, amounts advanced from time to time by the Lenders to the Borrower under the Current Asset Commitment, not to exceed the amount of the Current Asset Commitment, excluding any amounts advanced as Swing Loans or Agent Advances.
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Examples of Current Asset Loans in a sentence

  • Upon such payment by a Lender, such Lender shall be deemed to have made an Advance of the Fixed Asset Loans or Current Asset Loans, as applicable, to the Borrower, notwithstanding any failure of the Borrower to satisfy the conditions in Section 4.2. The Administrative Agent shall use such funds to repay the principal amount of Swing Loans to the Swing Bank.

  • The Current Asset Loans shall be repayable in accordance with the terms and provisions set forth herein and, upon request by any Lender, the Current Asset Loans owed to such Lender shall be evidenced by Current Asset Notes.

  • Upon such payment by a Lender, such Lender shall be deemed to have made an Advance of the Fixed Asset Loans or Current Asset Loans, as applicable, to the Borrower, notwithstanding any failure of the Borrower to satisfy the conditions in Section 4.2. The Administrative Agent shall use such funds to repay the principal amount of the Agent Advances.

  • Notwithstanding the foregoing, the Borrower shall not make any repayment or prepayment of the Revolving Loans unless and until the balance of the Swing Loans and Agent Advances then outstanding is zero, and the Borrower shall not make any repayment or prepayment of the Fixed Asset Loans unless and until the balance of the Current Asset Loans then outstanding is zero.

  • Notwithstanding anything to the contrary contained in this Agreement or any of the other Loan Documents, no Advance of the Current Asset Loans may be requested, or deemed requested, by the Borrower at any time when Fixed Asset Availability is greater than zero (0).

  • Any Advances made to reimburse the Swing Bank pursuant to Section 2.2(g), to reimburse the Administrative Agent pursuant to Section 2.2(h) or to reimburse an Issuing Bank pursuant to Section 2.15 shall first be made as Fixed Asset Loans and, after Fixed Asset Availability reaches zero (0), as Current Asset Loans.