Declining Revolving Credit Commitment definition

Declining Revolving Credit Commitment means, with respect to any Lender, the amount set opposite such Lender's name under the column entitled "Declining Revolving Credit Loan Commitments" on Exhibit A hereto.
Sample 1
Declining Revolving Credit Commitment means the amount set opposite Xxxxxx's name under the column entitled "Declining Revolving Credit Loan Commitment" on Exhibit A hereto. "Declining Revolving Credit Loans" has the meaning provided in Section 2.01(a)(ii) of this Agreement. "Declining Revolving Credit Note" has the meaning provided in Section 2.03(b) of this Agreement. "Default" means any condition or event which constitutes an Event of Default or which with the giving of notice or the lapse of time or both would, unless cured or waived, become an Event of Default. "EBITDA" means, for any period and determined in accordance with GAAP, Net Income before interest, taxes, depreciation and amortization. "Eligible Account" means an account owing to a Borrower arising in the ordinary course of such Borrower’s business from the sale of ethanol, distiller's grains (both wet and dry), high protein feed, wet syrup, or corn oil in which the Lender has a perfected first priority security interest and which meets all of the following specifications at the time it came into existence and continues to meet the same until it is collected in full:
Sample 1
Declining Revolving Credit Commitment means, with respect to any Lender, the amount set opposite such Lender's name under the column entitled "Declining Revolving Credit Loan Commitments" on Exhibit A hereto. "Declining Revolving Credit Loans" has the meaning provided in Section 2.01(a)(ii) of this Agreement. "Declining Revolving Credit Notes" has the meaning provided in Section 2.03(b) of this Agreement. "Default" means any condition or event which constitutes an Event of Default or which with the giving of notice or the lapse of time or both would, unless cured or waived, become an Event of Default. "Defaulting Lender" means any Lender that (a) has failed to advance to the Agent any portion of the Loans required to be funded by such Lender pursuant to this Agreement on the date required to be funded by such Lender pursuant to this Agreement and such failure is continuing on the date of determination, (b) has otherwise failed to pay over to the Agent any other amount required to be paid by such Lender under this Agreement or under any Loan Document within one (1) Business Day of the date when due, unless the subject of a good faith dispute and such failure is continuing on the date of determination, or (c) has been deemed insolvent, become the subject of a bankruptcy or insolvency proceeding or had its assets and/or control frozen or seized by the applicable banking regulators or other governmental agency. "EBITDA" means, for any period and determined in accordance with GAAP, an amount equal to (a) Net Income for such period, plus (b) to the extent deducted in determining Net Income for such period, the sum of (1) Interest Expense, (2) federal, state or local income tax expense, (3) depreciation and amortization and (4) all other non-cash charges, in each case for such period. "Eligible Account" means an account owing to Borrower arising in the ordinary course of Borrower's business out of the sale of ethanol and/or distiller's grains in which the Agent for the benefit of the Lenders has a perfected first priority security interest and which meets all of the following specifications at the time it came into existence and continues to meet the same until it is collected in full:
Sample 1

Examples of Declining Revolving Credit Commitment in a sentence

  • However, Lender shall not be obligated to make a Declining Revolving Credit Loan if the aggregate amount of all Declining Revolving Credit Loans then outstanding exceeds, or would exceed if the requested Declining Revolving Credit Loan were to be made, (1) the Maximum Availability at such time; (2) Lender's Declining Revolving Credit Commitment or (3) any Default or Event of Default exists or would result from the making of such Declining Revolving Credit Loan.

  • Lender agrees, subject to the terms and conditions of this Agreement, to make revolving credit loans (each, a "Declining Revolving Credit Loan" and collectively, the "Declining Revolving Credit Loans") to the Borrower from time to time from until the Business Day iMmediately preceding the Termination Date applicable to the Declining Revolving Credit Loan up to a maximum principal amount at any time outstanding equal to Lender's Declining Revolving Credit Commitment at such time.

  • However, Lender shall not be obligated to make a Declining Revolving Credit Loan if the aggregate amount of all Declining Revolving Credit Loans then outstanding exceeds, or would exceed if the requested Declining Revolving Credit Loan were to be made, (1) the Declining Revolving Credit Commitment or (2) any Default or Event of Default exists or would result from the making of such Declining Revolving.

  • The participants of this project were the Veterinary Office of BiH and the Faculty of Agriculture and Food Sciences of the University of Sarajevo.

  • Revolving Credit Loans shall be evidenced by promissory notes payable to each Lender with a Declining Revolving Credit Commitment substantially in the form of Exhibit B-2 hereto (collectively, as amended, renewed, restated, replaced, consolidated or otherwise modified from time to time, the "Declining Revolving Credit Notes").

  • Upon the semi-annual reduction of the Declining Revolving Credit Commitment, Borrower shall immediately pay to Lender all outstanding principal which exceeds the then current amount of available credit under the Declining Revolving Credit Commitment after such reduction.


More Definitions of Declining Revolving Credit Commitment

Declining Revolving Credit Commitment is defined in Section 2.01(b).
Sample 1

Related to Declining Revolving Credit Commitment

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • New Revolving Credit Commitments shall have the meaning provided in Section 2.14(a).

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Initial Revolving Credit Commitment means, with respect to any Person, the commitment of such Person to make Initial Revolving Loans (and acquire participations in Letters of Credit and Swingline Loans) hereunder as set forth on the Commitment Schedule, or in the Assignment Agreement pursuant to which such Person assumed its Initial Revolving Credit Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to Section 2.22. The aggregate amount of the Initial Revolving Credit Commitments as of the Closing Date is $75,000,000.

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Refinancing Revolving Credit Commitments means one or more Classes of Revolving Credit Commitments hereunder that result from a Refinancing Amendment.

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Additional Revolving Credit Commitments means any revolving credit commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(ii).

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Incremental Revolving Credit Commitments has the meaning set forth in Section 2.14(a).

  • Aggregate Revolving Credit Commitments means, at any time, the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at such time.

  • Other Revolving Credit Commitments means one or more Classes of revolving credit commitments hereunder that result from a Refinancing Amendment.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Unused Revolving Credit Commitment of any Lender, at any time, means the remainder of the Revolving Credit Commitment of such Lender at such time, if any, less the sum of (a) the aggregate Outstanding Amount of Revolving Loans made by such Lender, (b) such Lender’s LC Exposure at such time and (c) except for purposes of Section 2.12(a), such Lender’s Applicable Percentage of the aggregate Outstanding Amount of Swingline Loans.

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).