Examples of Facility Limit in a sentence
The Credit Agreement shall, henceforth from the date of the execution and delivery of this Accordion Agreement, be read and construed as if the Accordion Lender were party to the Credit Agreement having all the rights and obligations of a Lender under the Credit Agreement having the [Commitment/Applicable Percentage of the [Revolving /Wholesale Flooring A/Used Vehicle Flooring/Wholesale Leasing/Daily Rental] Facility Limit] set out in paragraph 2 below.
Notwithstanding anything to the contrary in this Agreement, no Lender shall be obligated to make Borrowings available to the Borrowers in excess of its Applicable Percentage of the applicable Credit Facility Limit or its Commitment and the L/C Issuer shall not be obligated to issue any L/C that would result in the L/C Sublimit being exceeded.
Upon repayment of the Wholesale Flooring B Exit Amount, the Wholesale Flooring B Facility Limit shall be reduce by an amount equal to the Applicable Percentage of Wholesale Flooring B Facility Limit of the Wholesale Flooring B Exit Lender.
Upon repayment of the Wholesale Flooring A Exit Amount, the Wholesale Flooring A Facility Limit shall be reduce by an amount equal to the Applicable Percentage of Wholesale Flooring A Facility Limit of the Wholesale Flooring A Exit Lender.
If the Commitment of any Purchaser is increased in accordance with this Section 16, the Purchaser Agent, the Purchasers, the Seller and the Servicer shall determine the effective date with respect to such increase and shall enter into such documents as agreed to by such parties to document such increase in the Facility Limit.