Debt Credit definition

Debt Credit for any Person means, at any date, the lesser of (i) the aggregate amount of contingent obligations of such Person as an account party in respect of letters of credit, letters of guaranty or bankers’ acceptances and (ii) $168,000,000.
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Examples of Debt Credit in a sentence

  • Parent and Merger Sub have cash on hand or committed financing sufficient (a) to deliver the Merger Consideration as detailed in Article 2 herein, and to consummate the transactions contemplated by this Agreement, including without limitation, to make all other payments of fees and expenses contemplated hereunder, and (b) to refinance or prepay in full all indebtedness under the Company Senior Secured Credit Facility and the Company Sub Debt Credit Agreement.

  • Lender shall have received (i) an amendment and consent to the Term Debt Credit Agreement, in form and substance satisfactory to Lender in its Permitted Discretion and duly executed by the parties named therein (the “Term Credit Agreement Amendment”), and such Term Credit Agreement Amendment shall be in full force and effect on the date hereof and (ii) evidence that Borrower has received the proceeds of the Add-On Term Loans.

  • An Event of Default under Section 10.11 of the Revolving Credit Agreement resulting from Unitek Parent’s failure to pay on the due date (or within the 5-day cure period thereunder) the monthly interest payment due on July 31, 2014, as required under Section 2.9(d) of the Term Debt Credit Agreement.

  • Changes in Tax, Debt, Credit and Documentary Stamp Laws.....................................

  • The Senior Debt Loan Documents set forth the entire agreement and understanding of the parties thereto relating to the Senior Debt Credit Facility, and there are no other agreements, arrangements or understandings, written or oral, relating to the matters covered thereby.

  • Furthermore OWNER also agrees to comply with all Arizona and federal laws such as the ARLTA, Fair Debt Credit Reporting Act, etc.

  • Unapproved Debt: (Credit Protection only) Any Debt which is due by a Customer for whom no Credit Limit is established or whose Credit Limit is withdrawn.

  • An Event of Default under Section 10.11 of the Revolving Credit Agreement resulting from the Borrower’s failure to comply with the “Consolidated Leverage Ratio” (as defined in the Term Debt Credit Agreement) covenant for the fiscal quarter ended June 30, 2014, as required under Section 6.1(a) of the Term Debt Credit Agreement.

  • The Agent and Lenders hereby irrevocably consent to the Modifications to the extent conflicting with the restrictions of Section 7.22 of the Revolving Credit Agreement (the “Waiver”), and after giving effect to the Waiver the limitations of Section 7.22 shall apply to amendments, modifications and waivers of the Term Debt Documents as amended by the Term Debt Credit Agreement Amendment.

  • Mortgagor grants to Lender an irrevocable power of attorney coupled with an interest for the purpose of exercising and perfecting any and all rights and remedies available to Lender at law and in equity, including without limitation such rights and remedies available to Lender pursuant to this Section 6.2. Changes in Tax, Debt Credit and Documentary Stamp Laws.

Related to Debt Credit

  • New Credit Facility is defined in Section 9.8.

  • Bank Credit Facility means any credit agreement or working capital facility among the Company and/or its Subsidiaries and one or more lenders, as such credit agreement or working capital facility may be amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified (including with other lenders) from time to time, regardless of whether any other credit agreement or working capital facility or any portion thereof was outstanding or in effect at the time of such amendment, renewal, extension, substitution, refinancing, restructuring, replacement, supplement or modification.

  • Debt Commitment Letter has the meaning set forth in Section 5.5(a).

  • Senior Credit Facility shall include any agreement (i) changing the maturity of any Indebtedness Incurred thereunder or contemplated thereby, (ii) adding Subsidiaries of the Company as additional borrowers or guarantors thereunder, (iii) increasing the amount of Indebtedness Incurred thereunder or available to be borrowed thereunder or (iv) otherwise altering the terms and conditions thereof.

  • Debt Commitment Letters shall have the meaning set forth in Section 5.7(a).