Discharge of Revolving Credit Obligations definition

Discharge of Revolving Credit Obligations means, except to the extent otherwise expressly provided in Section 5.5:
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Discharge of Revolving Credit Obligations means the occurrence of all of the following:
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Discharge of Revolving Credit Obligations means, except to the extent otherwise expressly provided in Section 5.5 and subject to clause (b) of the definition of the term Revolving Credit Obligations:
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Examples of Discharge of Revolving Credit Obligations in a sentence

  • Upon the Discharge of Revolving Credit Obligations, the Revolving Credit Collateral Agent shall deliver to the Term Collateral Agent any Collateral and proceeds of Collateral held by it in the same form as received, with any necessary endorsements or as a court of competent jurisdiction may otherwise direct to be applied by the Term Collateral Agent in such order as specified in the Term Priority Lien Documents.

  • This authorization is coupled with an interest and is irrevocable until each of the Discharge of Revolving Credit Obligations and the Discharge of Term Priority Lien Obligations have occurred.


More Definitions of Discharge of Revolving Credit Obligations

Discharge of Revolving Credit Obligations shall have the meaning assigned to such term in the Intercreditor Agreement.
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Discharge of Revolving Credit Obligations means (a) the payment in full in cash of the applicable Revolving Credit Obligations that are outstanding and unpaid (including interest accruing on and after the commencement of any Insolvency Proceeding at the rate set forth in the applicable Revolving Credit Agreement) at the time all Indebtedness under the applicable Revolving Credit Agreement is paid in full in cash, including (if applicable), with respect to amounts available to be drawn under outstanding letters of credit issued thereunder (or indemnities or other undertakings issued pursuant thereto in respect of outstanding letters of credit) delivery or provision of cash or backstop letters of credit in respect thereof in compliance with the terms of any such Revolving Credit Agreement (which shall not exceed an amount equal to 105% of the aggregate undrawn amount of such letters of credit), and (b) the termination of all then outstanding commitments to extend credit under the Revolving Credit Documents.
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Discharge of Revolving Credit Obligations means (i) the payment in full in cash (or other consideration acceptable to the Administration Agent and each Revolving Credit Lender in their sole discretion) of all Revolving Credit Obligations and all Obligations then owed to the Administrative Agent (other than, in each case, (a) contingent indemnification obligations not then due and payable and (b) to the extent covered by clause (ii) below, Letter of Credit Obligations with respect to undrawn Letters of Credit), (ii) the termination of all Letters of Credit or the delivery to the Administrative Agent of cash collateral in an amount equal to 105% of the Letter of Credit Obligations for all outstanding Letters of Credit in the manner set forth in Section 9.3 and (iii) the termination of all Revolving Credit Commitments.
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Discharge of Revolving Credit Obligations means “Discharge of Revolving Credit Obligations” as such term is defined in the Intercreditor Agreement.
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Discharge of Revolving Credit Obligations means, subject to any reinstatement of Revolving Credit Obligations in accordance with this Agreement (a) payment in full in cash of the principal of and interest (including Post-Petition Interest), and premium, if any, on all Revolving Credit Obligations (Capped) and termination of all commitments of the Secured Parties in respect of the Revolving Credit Obligations to lend or otherwise extend credit under the Revolving Credit Documents other than the commitments of such Secured Parties in excess of the Revolving Credit Cap Amount, (b) payment in full in cash of all other Revolving Credit Obligations (Capped) (including letter of credit reimbursement obligations) that are due and payable or otherwise accrued and owing at or prior to the time such principal, interest, and premium are paid, and (c) termination or cash collateralization (in an amount and manner, and on terms, reasonably satisfactory to the applicable issuing lender thereof) of all letters of credit issued under the Revolving Credit Documents, in each case other than any thereof comprising Excess Revolving Credit Obligations.
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Discharge of Revolving Credit Obligations shall have the meaning set forth in the ABL Intercreditor Agreement.
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Related to Discharge of Revolving Credit Obligations

  • Revolving Credit Obligations means, at any particular time, the sum of (i) the outstanding principal amount of the Revolving Loans at such time, plus (ii) the outstanding principal amount of the Swing Line Loans at such time, plus (iii) the outstanding L/C Obligations at such time.

  • Credit Obligations means, without duplication:

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

  • L/C Obligations means, as at any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.

  • Revolving L/C Exposure of any Class shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit applicable to such Class outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements applicable to such Class that have not yet been reimbursed at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Class of any Revolving Facility Lender at any time shall mean its applicable Revolving Facility Percentage of the aggregate Revolving L/C Exposure applicable to such Class at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International Standby Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) the Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Revolving Facility Lender at any time shall be the sum of (a) the aggregate principal amount of such Revolving Facility Lender’s Revolving Facility Loans outstanding at such time and (b) such Revolving Facility Lender’s Revolving Facility Percentage of the Swingline Exposure and Revolving L/C Exposure at such time.

  • Revolving Credit Agreement means that certain Revolving Credit Agreement dated as of August 30, 2004 between the Company, certain of its Subsidiaries and the banks and financial institutions listed therein, as such agreement may be replaced, amended, supplemented or otherwise modified from time to time.

  • Revolving Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Loans and its LC Exposure at such time.

  • 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.