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.
Sample 1
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.
Sample 1
Discretionary Facility means an amount of up to $500,000 in excess of the Credit Accommodations which Lender could be required to make pursuant to subsection (i) of Section 2.1 (a) hereof.
Sample 1

Examples of Discretionary Facility in a sentence

  • 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 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.

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

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

  • 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.

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

  • On the basis of the representations, warranties and agreements herein contained, and upon the terms but subject to the conditions herein set forth, the Underwriter agrees to purchase from the Company the respective number of Firm Shares set forth on Schedule A.

  • 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 10.2 shall survive any termination or expiration of the Discretionary Facility and payment in full of the Obligations.


More Definitions of Discretionary Facility

Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of Section 2.4.
Sample 1
Discretionary Facility means the uncommitted discretionary facility described in and subject to the limitations of SECTION
Sample 1
Discretionary Facility means the increase in the Total Revolving Credit Commitment pursuant to Section 2.4(e).
Sample 1
Discretionary Facility the credit facility provided for in Section 2.04.
Sample 1
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.
Sample 1
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.
Sample 1

Related to Discretionary Facility

  • Eligible facility means a gas-fired electric generation facility with a nominal capacity of 1,000 MW or less.

  • 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.

  • 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.

  • 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, in relation to a Facility, the aggregate for the time being of each Lender’s Available Commitment in respect of that Facility.

  • 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.

  • Participation Facility means any facility or property in which the Party in question or any of its Subsidiaries participates in the management and, where required by the context, said term means the owner or operator of such facility or property, but only with respect to such facility or property.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Available Unused Commitment means, with respect to a Revolving Facility Lender under any Class of Revolving Facility Commitments at any time, an amount equal to the Dollar Equivalent of the amount by which (a) the applicable Revolving Facility Commitment of such Revolving Facility Lender at such time exceeds (b) the applicable Revolving Facility Credit Exposure of such Revolving Facility Lender at such time.