Domestic Overadvance definition

Domestic Overadvance means a Domestic Credit Extension to the extent that, immediately after the making of such Domestic Credit Extension, the aggregate principal balance of all Domestic Credit Extensions then outstanding exceeds the Domestic Loan Cap as then in effect.

Domestic Overadvance means a Credit Extension to the Domestic Borrowers to the extent that, immediately after the making of such Credit Extension, Domestic Availability is less than zero.

Domestic Overadvance means at any time an amount equal to the greater of the amount (if any) by which the total amount of the outstanding Advances with respect to Domestic Eligible Receivables (including deemed Advances with respect to the International Sublimit and the total amount of the Cash Management Sublimit) exceeds the lesser of the Credit Limit or the Domestic Borrowing Base.

Examples of Domestic Overadvance in a sentence

• The making of any such Permitted Domestic Overadvance or Permitted Canadian Overadvance on any one occasion shall not obligate the Administrative Agent, the Co-Collateral Agents or the Canadian Agent, as applicable, or any Lender to make or permit any Permitted Domestic Overadvance or Permitted Canadian Overadvance on any other occasion or to permit such Permitted Domestic Overadvances or Permitted Canadian Overadvances to remain outstanding.

• The making of a Permitted Domestic Overadvance is for the benefit of the Domestic Borrowers and shall constitute a Revolving Credit Loan and an Obligation.

• A Permitted Domestic Overadvance is for the account of the Domestic Borrowers and shall constitute a Domestic Prime Rate Loan and an Obligation and shall be repaid by the Domestic Borrowers in accordance with the provisions of Section 2.05(c).

• In no event shall Domestic Overadvance Loans be made that would cause the outstanding Domestic Revolver Loans and Domestic LC Obligations to exceed the aggregate Domestic Revolver Commitments and in no event shall UK Overadvance Loans be made that would cause the outstanding UK Revolver Loans and UK LC Obligations to exceed the aggregate UK Revolver Commitments.

• Whether or not Borrower Agent submits a Notice of Borrowing, Domestic Borrowers shall be deemed to have requested a Borrowing of Domestic Base Rate Loans in an amount necessary to pay all amounts due and owing to Issuing Bank on any Reimbursement Date and each Lender agrees to fund its Pro Rata share of such Borrowing whether or not the Domestic Revolver Commitments have terminated, a Domestic Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied or waived.

• Any funding of a Domestic Overadvance Loan or UK Overadvance Loan or sufferance of an Overadvance shall not constitute a waiver by Agent or Lenders of the Event of Default caused thereby.

More Definitions of Domestic Overadvance

Domestic Overadvance has the meaning assigned to such term in Section 2.05(b).

Domestic Overadvance means a Domestic Credit Extension (other than the making of the FILO Loan) to the extent that, immediately after the making of such Domestic Credit Extension, the aggregate principal balance of all Domestic Credit Extensions then outstanding exceeds the Revolving Domestic Loan Cap as then in effect.

Domestic Overadvance has the meaning assigned to such term in Section 2.05(b). “Domestic Protective Advances” has the meaning assigned to such term in Section 2.04. “Domestic Revolving Commitment” means, with respect to each Domestic Revolving Lender, the commitment, if any, of such Domestic Revolving Lender to make Domestic Revolving Loans and to acquire participations in Domestic Letters of Credit, Domestic Overadvances, Domestic Protective Advances and Domestic Swingline Loans hereunder, expressed as an amount representing the maximum possible aggregate amount of such Domestic Revolving Lender’s Domestic Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such Domestic Revolving Lender pursuant to Section 9.04. The initial amount of each Domestic Revolving Lender’s Domestic Revolving Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to which such Domestic Revolving Lender shall have assumed its Domestic Revolving Commitment, as applicable. The initial

Domestic Overadvance means a loan, advance, or providing of credit support (such as the issuance of a Letter of Credit) to the Domestic Borrowers to the extent that, immediately after the making of such loan or advance or the providing of such credit support, Domestic Availability is less than zero.

Domestic Overadvance means at any time an amount equal to the greater of (a) the amount (if any) by which the total amount of the outstanding Advances with respect to Domestic Eligible Receivables (including deemed Advances with respect to the FX Sublimit, and the Credit Card Limit, and the total amount of the Cash Management Sublimit) exceeds the lesser of the Domestic Credit Limit or the Domestic Borrowing Base, or (b) the amounts (if any) by which the total amount of the outstanding deemed Advances with respect to the FX Sublimit or the Credit Card Limit or the Cash Management Sublimit exceeds the Subfacility Maximum.

Domestic Overadvance means at any time an amount equal to the greater of (a) the amount (if any) by which the total amount of the outstanding Advances with respect to Domestic Eligible Receivables (including deemed Advances with respect to the International Sublimit and the total amount of the Cash Management Sublimit) exceeds the lesser of the Domestic Credit Limit or the Domestic Borrowing Base, (b) the amount (if any) by which the total amount of the outstanding Advances (including deemed Advances with respect to the International Sublimit and the total amount of the Cash Management Sublimit) exceeds the Credit Limit, (c) the amount (if any) by which the total amount of the outstanding deemed Advances with respect to the International Sublimit exceed the International Sublimit, or (d) the amount (if any) by which the total amount of the outstanding deemed Advances with respect to the Cash Management Sublimit exceed the Cash Management Sublimit.