European Protective Advance definition

European Protective Advance has the meaning assigned to such term in Section 2.04.
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Examples of European Protective Advance in a sentence

  • At any time that the conditions precedent set forth in Section 4.02 have been satisfied or waived, the Administrative Agent may request the Lenders to make an Initial US Revolving Loan, Initial Canadian Revolving Loan or an Initial European Revolving Loan, as applicable, to repay any US Protective Advance, Canadian Protective Advance or European Protective Advance, respectively.

  • Each European Protective Advance and each European Overadvance shall bear interest at the Overnight LIBO Rate plus the Applicable Rate for European Revolving Loans plus 2%.

  • Upon the making of a European Protective Advance by the European Agent (whether before or after the occurrence of a Default) to any European Borrower, each European Revolving Lender shall be deemed, without further action by any party hereto, to have unconditionally and irrevocably purchased from the European Agent without recourse or warranty, an undivided interest and participation in such European Protective Advance in proportion to its Applicable Percentage of the European Revolving Exposure.

  • Unless otherwise agreed by European Administrative Agent and Administrative Borrower, any European Advance, European Swing Loan or European Protective Advance requested by European Borrowers and made by European Administrative Agent or the European Lenders hereunder shall be made to the applicable European Designated Account.

  • At any time that there is sufficient European Availability and the conditions precedent set forth in Section 4.02 have been satisfied, the Administrative Agent may request the European Revolving Lenders to make a European Revolving Loan to repay a European Protective Advance.

  • At any time that the conditions precedent set forth in Section 4.02 have been satisfied or waived, the Administrative Agent may request the Lenders to make an Initial US Revolving Loan or an Initial European Revolving Loan, as applicable, to repay any US Protective Advance or European Protective Advance, respectively.

  • At any time that there is sufficient European Availability and the conditions precedent set forth in Sections 4.02 and 4.04 have been satisfied, the Administrative Agent may request the European Revolving Lenders to make a European Revolving Loan to repay a European Protective Advance.

Related to European Protective Advance

  • Protective Advance has the meaning assigned to such term in Section 2.04.

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

  • Administrative Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

  • U.S. Swingline Loan means any swingline loan denominated in Dollars made by the applicable Swingline Lender to a US Borrower pursuant to Section 2.2, and all such swingline loans collectively as the context requires.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Swing Loan has the meaning specified therefor in Section 2.3(b) of the Agreement.

  • Swing Loans means collectively and “Swing Loan” shall mean separately all Swing Loans or any Swing Loan made by the Swingline Lender to the Borrower pursuant to Section 2.6.3 [Making Swing Loans].

  • Swingline Loan means a Loan made pursuant to Section 2.04.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

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

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Loans as defined in Section 2.4(a).

  • Refunded Swingline Loans as defined in Section 2.7(b).

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Letter of Credit Disbursement means a payment made by Issuing Bank pursuant to a Letter of Credit.

  • Swingline Borrowing means a borrowing of a Swingline Loan pursuant to Section 2.04.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.