Facility Maximum definition

Facility Maximum means, subject to the availability of Acceptable Accounts and the exercise of WFBC’s discretion as provided herein, the Aggregate Facility Maximum less (a) the aggregate Outstanding Balance (as defined in the applicable Affiliate Account Purchase Agreement) of all Purchased Accounts (as defined in the applicable Affiliate Account Purchase Agreement) under the Affiliate Account Purchase Agreements, less (b) the sum of (i) the Outstanding Balance (as defined in the D & D Account Purchase Agreement) of all Purchased Accounts (as defined in the D & D Account Purchase Agreement) under the D & D Account Purchase Agreement and (ii) any other amounts owing by D & D Staffing, Corp. to WFBC under the D & D Account Purchase Agreement.

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Facility Maximum means the lesser of (a) $175,000,000 or (b) the sum of the WFBC Commitment plus the Other Commitment.

Facility Maximum means $15,000,000, subject to the availability of Acceptable Accounts and the exercise of WFBC’s discretion as provided herein.

Examples of Facility Maximum in a sentence

Each such reduction in the Local Currency Facility Maximum Borrowing Amount under a Local Currency Addendum shall in turn reduce the respective Local Currency Lender Maximum Borrowing Amounts of each Local Currency Lender party to such Local Currency Addendum, pro rata on the basis of the respective Local Currency Lender Maximum Borrowing Amounts of such Local Currency Lenders immediately prior to such reduction.
After giving effect to any such reduction in Local Currency Lender Maximum Borrowing Amounts, the Local Currency Facility Maximum Borrowing Amount with respect to each Local Currency Addendum shall in turn be reduced to an amount equal to the aggregate of the Local Currency Lender Maximum Borrowing Amounts of all Lenders party to such Local Currency Addendum.
Unless WFBC shall otherwise consent in a written agreement that sets forth the terms and conditions which WFBC in its discretion may deem appropriate, if the Purchased Amount is at any time greater than the Facility Maximum, the Customer shall pay to WFBC, upon demand, the amount necessary to eliminate such excess.
Reductions in Local Currency Lender Maximum Borrowing Amounts and Local Currency Facility Maximum Borrowing Amounts pursuant to this paragraph (c) shall be effective until the amount thereof shall be recalculated by the Administrative Agent on the next succeeding Reset Date or Borrowing Date, and shall not be deemed to reduce the stated amount of any Commitment of any Local Currency Lender in respect of any Local Currency Facility.
The Nursing Facility Maximum Daily Benefit is selected by You at the time of application and is described below.

More Definitions of Facility Maximum

Facility Maximum means as of any date, the lesser of (a) the Formula Amount; or (b) $20,000,000 (inclusive of amounts advanced under the Canadian Subfacility).

Facility Maximum means as of any date, the lesser of (a) the Formula Amount; or (b) $27,500,000 (inclusive of amounts advanced under the Canadian Subfacility), PROVIDED HOWEVER, if the Net Proceeds from the Initial Public Offering on the IPO Date are (i) equal to or greater than $35,000,000 but less than $70,000,000, then the Bank will reduce the Facility Maximum to not greater than $20,000,000 but not less than $15,000,000; or (ii) equal to or greater than $70,000,000, then the Bank will reduce the Facility Maximum to not greater than $15,000,000 but not less than $10,000,000, with such reductions to be determined in Bank's sole and absolute discretion upon prior written notice to the Company."

Facility Maximum means $45,000,000 less the aggregate outstanding amount of all accounts receivable purchased by ▇▇▇▇▇ Fargo from Tri-State and all affiliates of Tri-State, subject to the availability of Acceptable Accounts and the exercise of Tri-State’s discretion as provided herein.

Facility Maximum means, at any time, subject to the availability of Acceptable Accounts and the exercise of WFB’s discretion as provided herein, the Aggregate Facilities’ Maximum, less (a) the aggregate outstanding amount of Advances (as defined in the Affiliate Account Purchase Agreement) made under the Affiliate Account Purchase Agreement, less (b) the aggregate outstanding amount of Advances (as defined in the Subsidiary Account Purchase Agreement) made under the Subsidiary Account Purchase Agreement.” (f) Section 2.28 of the Account Purchase Agreement is hereby amended and restated to read in its entirety as follows:

Facility Maximum means $18,000,000, subject to the availability of Acceptable Accounts and the exercise of WFBC’s discretion as provided herein.

Facility Maximum means $3,000,000.00 subject to the availability of Acceptable Accounts and the exercise of WFBC’s discretion as provided herein. 2.11 “Insolvency Proceeding” shall mean any proceeding under Title 11 of the United States Code or a proceeding in which a receiver is appointed for substantially all assets in accordance with applicable state law; provided, however, if the proceeding is terminated within sixty (60) days of its initiation, such proceeding shall not be an Insolvency Proceeding for purposes of this Agreement. 2.12 “Lien” shall mean any security interest, mortgage, assignment (whether absolute or by way of security), tax lien or other lien (statutory or otherwise) or any other encumbrance of any kind or nature whatsoever. 2.13 “Minimum Fee” shall mean the minimum fee paid as stated in Section 6.07 below. 2.14 “Net Purchase Price” for any Account means an amount equal to the gross face amount of such Account less (i) the WFBC’s Discount and (ii) any other charges with respect to such Account and less any amount of any trade discounts, credits or allowances, or any other reductions or adjustments to such Account taken by the Account Debtor. 2.15 “Prime Rate” shall mean the highest of the Prime Rate published by ▇▇▇▇▇ Fargo Bank, N.A. as the base rate on corporate loans. In the event the Prime Rate as published by ▇▇▇▇▇ Fargo Bank, N.A. ceases to exist or ▇▇▇▇▇ Fargo Bank, N.A. ceases publishing a Prime Rate, the holder hereof will substitute a comparable index which is outside the control of the holder. In the event of an error by ▇▇▇▇▇ Fargo Bank, N.A., the “Prime Rate” will be based upon the Prime Rate as corrected. 2.16 “Purchase Limit” shall mean the limit WFBC sets from time to time establishing the maximum gross face amount of purchased Accounts which are approved to be outstanding at any given time by a particular Account Debtor. 2.17 “Repurchase Price” for any Account means the Advance less any amounts collected from the Account Debtor on the Account plus the WFBC Discount and all fees, costs or expenses associated with the repurchase or collection of such Account. In any event where repurchase is required under this Agreement, WFBC, at its discretion, may charge the Repurchase Price to Customer’s Collected Reserve which may create a deficit balance under Section 3.06 below. 2.18 “Term” shall mean two (2) years from the Acceptance Date. This Agreement shall automatically continue for renewal terms of twenty-four (24) months unless sixty (60) d...

Facility Maximum means, subject to the availability of Acceptable Accounts, $10,000,000 less the aggregate Outstanding Balance (as defined in the applicable Affiliate Account Purchase Agreement) of all Purchased Accounts (as defined in the applicable Affiliate Account Purchase Agreement) under the Affiliate Account Purchase Agreements.