Discretionary Facility definition

Discretionary Facility. The discretionary credit facility under which the Lender may make loans, in the Lender’s sole and absolute discretion, to the Borrower in accordance with Article 2 and the Discretionary Note up to an aggregate principal amount at any one time outstanding not to exceed $1,000,000.
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Discretionary Facility means the increase in the Total Revolving Credit Commitments pursuant to Section 2.9 or the Term Loan B Facility, or both as the context may require.
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Discretionary Facility means an amount of up to $500,000 in excess of the Credit Accommodation which Lender could be required to make pursuant to subsection (i) of Section 2.1(a) hereof."
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Examples of Discretionary Facility in a sentence

  • Each time the Borrower desires to obtain a loan under the Discretionary Facility pursuant to Section 2.1, such request shall be in writing (which may be by telecopy) or by telephone, and must be given so as to be received by the Lender not later than 11:00 a.m., Minneapolis time, on the date of the requested advance.

  • The Lender shall enter in its records the amount of each advance under, and the payments made on, the Discretionary Facility, and such records shall be deemed conclusive evidence of the subject matter thereof, absent manifest error.

  • All of the representations and warranties set forth in the immediately preceding subsections shall survive until all the Obligations shall have been satisfied in full, and the Discretionary Facility has been terminated.

  • The Lender may sell participation interests in any or all of the Discretionary Loans and in all or any portion of the Discretionary Facility to any Person.

  • The unpaid principal amount of the Discretionary Facility shall bear interest at the Interest Rate.

  • The Borrower has requested that the Lender make loans to the Borrower from time to time under the Discretionary Facility.

  • Each New Lender providing a Discretionary Commitment shall be a "Lender" for all purposes hereunder with respect to the Discretionary Facility, entitled to the rights and benefits, and subject to the duties, of a Lender under the Loan Documents.

  • If the Lender, in its discretion, agrees to make any such loans, such loans shall (a) not exceed an aggregate principal amount of the Discretionary Facility, (b) be made in accordance with the terms of this Agreement, and (c) be made on or before the Discretionary Credit Expiration Date.

  • The obligations of the Borrower under this Section 11.2 shall survive any termination or expiration of the Discretionary Facility and payment in full of the Obligations.

  • Principal of the Discretionary Facility shall be due and payable as specified in the Discretionary Note.


More Definitions of Discretionary Facility

Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of Section 2.4. Discretionary Lender means, at any date of determination, each Lender who has a Discretionary Commitment or to whom Discretionary Principal Debt is owed. Discretionary Loan is defined in Section 2.4(c). Discretionary Loan Effective Date, for each Discretionary Loan, is the date specified by the Administrative Agent in accordance with Section 2.4(d) and set forth in the Supplemental Credit Documents for such Discretionary Loan.
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Discretionary Facility means the increase in the Total Revolving Credit Commitment pursuant to Section 2.4(e).
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Discretionary Facility. This Discretionary Facility under which the Lender may make loans, in the Lender’s sole and absolute discretion, to the Borrower in accordance with Article 2 and the Note up to an aggregate principal amount at any one time outstanding not to exceed $500,000. Event of Default: Any event described in Section 9.1.
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Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of Section 2.4.
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Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of SECTION
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Discretionary Facility the credit facility provided for in Section 2.04.
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Related to Discretionary Facility

  • Eligible facility means any hospital, skilled nursing facility, intermediate care facility, or basic care facility licensed by the state department of health, or any assisted living facility licensed by the department of human services; and

  • Ancillary Facility means any ancillary facility made available by an Ancillary Lender in accordance with Clause 6 (Ancillary Facilities).

  • Replaced Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Facility B means the term loan facility made available under this Agreement as described in paragraph (b) of Clause 2.1 (The Facilities).

  • Applicable Facility Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.14(C)(i) hereof determined in accordance with the provisions of Section 2.14(D)(ii) hereof.

  • Tranche A Advance has the meaning specified in Section 2.01(a).

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Total Unutilized Revolving Loan Commitment means, at any time, an amount equal to the remainder of (x) the Total Revolving Loan Commitment in effect at such time less (y) the sum of (i) the aggregate principal amount of all Revolving Loans and Swingline Loans outstanding at such time plus (ii) the aggregate amount of all Letter of Credit Outstandings at such time.

  • Extended Revolving Facility Commitment shall have the meaning assigned to such term in Section 2.21(e).

  • Unutilized Revolving Loan Commitment means, with respect to any Lender at any time, such Lender’s Revolving Loan Commitment at such time less the sum of (i) the aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and (ii) such Lender’s RL Percentage of the Letter of Credit Outstandings at such time.

  • Applicable Revolving Commitment Fee Percentage means (a) from the Closing Date until the date of delivery of the Compliance Certificate and the financial statements for the second full Fiscal Quarter after the Closing Date, a percentage, per annum, determined by reference to the following table as if the Leverage Ratio then in effect were 3.00:1.00; and (b) thereafter, a percentage, per annum, determined by reference to the Leverage Ratio in effect from time to time as set forth below: >3.00:1.00 0.75% 1.30% <3.00:1.00 >2.50:1.00 0.75% 1.20% No change in the Applicable Revolving Commitment Fee Percentage shall be effective until three (3) Business Days after the date on which the Administrative Agent has received the applicable financial statements and a Compliance Certificate pursuant to Section 5.01(c) calculating the Leverage Ratio. At any time the Borrower Representative has not submitted to the Administrative Agent the applicable information as and when required under Section 5.01(c), the Applicable Revolving Commitment Fee Percentage shall be determined as if the Leverage Ratio were in excess of 3.00:1.00. Promptly following receipt of the applicable information under Section 5.01(c), the Administrative Agent shall give each Lender telefacsimile or telephonic notice (confirmed in writing) of the Applicable Revolving Commitment Fee Percentage in effect from such date. In the event that any financial statement or certificate delivered pursuant to Section 5.01 is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Revolving Commitment Fee Percentage for any Applicable Period than the Applicable Revolving Commitment Fee Percentage applied for such Applicable Period, then (i) the Borrower Representative shall immediately deliver to the Administrative Agent a correct certificate required by Section 5.01 for such Applicable Period, (ii) the Applicable Revolving Commitment Fee Percentage shall be recalculated with the Leverage Ratio at the corrected level and (iii) each applicable Borrower shall immediately pay to the Administrative Agent the accrued additional fees owing as a result of such increased Applicable Revolving Commitment Fee Percentage for such Applicable Period. Nothing in this definition shall limit the right of the Administrative Agent or any Lender under Section 2.10 or Article VIII and the provisions of this definition shall survive the termination of this Agreement.

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d).

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Tranche A Facility means the aggregate of the Tranche A Commitments.

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Available Facility means the aggregate for the time being of each Lender’s Available Commitment.

  • Facility Fee Percentage means, as of any date, the percentage set forth in the column headed “Facility Fee Percentage” in Section 2.3 that is in effect on such date.

  • Unutilized Commitment means, with respect to any Lender at any time, such Lender's Commitment at such time less the aggregate principal amount of all Loans made by such Lender that are outstanding at such time.

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Tranche B Advance has the meaning specified in Section 2.01(b).