Facility Obligor definition
Facility Obligor each of the U.K. Borrower or any U.K. Facility Guarantor, and “U.K. Facility Obligors” means all of such Persons, collectively.
Facility Obligor each of any U.S. Borrower or any U.S. Facility Guarantor, and “U.S. Facility Obligors” means all of such Persons, collectively. U.S. Facility Secured Parties: the Agent, the U.S. Issuing Bank, the U.S. Lenders and the Secured Bank Product Providers who provide Bank Products to the U.S. Facility Obligors and their Subsidiaries.
Facility Obligor means the Borrower and, until the Guarantee Release Date, the Guarantor.
Examples of Facility Obligor in a sentence
If the Facility Agent receives such notification from a Senior Lender it shall notify each Facility Obligor.
More Definitions of Facility Obligor
Facility Obligor each of the U.K. Borrower or any U.K. Facility Guarantor, and “U.K. Facility Obligors” means all of such Persons, collectively. U.K. Facility Secured Parties: the Agent, the U.K. Issuing Bank, the U.K. Lenders and the Secured Bank Product Providers who provide Bank Products to the U.K. Facility Obligors and their Subsidiaries. U.K. Inventory Formula Amount: as of any date of determination, the lesser of (a) the sum of (i) with respect to Eligible Inventory that has been owned by the U.K. Borrower for less than one (1) calendar year as of the applicable date of determination, (A) for the period beginning on March 1 through and including September 30 of each Fiscal Year, 65% of the Value of such U.K. Borrower’s Eligible Inventory, (B) for the period beginning on October 1 through and including February 28 (or February 29, as applicable) of each Fiscal Year, 75% of the Value of such U.K. Borrower’s Eligible Inventory, plus (ii) with respect to Eligible Inventory that has been owned by the U.K. Borrower for at least one (1) calendar year, but not more than two (2) calendar years, as of the applicable date of determination, 50% of the Value of such U.K. Borrower’s Eligible Inventory, plus (iii) with respect to Eligible Inventory that has been owned by the U.K. Borrower for more than two (2) calendar years as of the applicable date of determination, 30% of the Value of such U.K. Borrower’s Eligible Inventory; or (b) 85% of the NOLV Percentage of the Value of the U.K. Borrower’s Eligible Inventory. Notwithstanding the foregoing, the aggregate amount of the U.K. Inventory Formula Amount which may be attributed to Eligible In-Transit Inventory (the “U.K. In-Transit Availability”) shall not exceed $2,000,000; provided that, Agent, in its sole discretion (and with the consent of either (x) the Required Lenders, or (y) the Documentation Agent), may elect to increase such amount by 10% of the then applicable limit on or about each anniversary of the Third Amendment Effective Date; provided further that, the U.K. In-Transit Availability (after taking into effect the previous proviso) shall be reduced by the U.K. Expeditors Reserve if, as of any date of determination, either (I) U.K. Net Excess Availability is less than 10% of the Maximum U.K. Facility Amount, or (II) there are any accounts payable owed by any U.K. Facility Obligor to Expeditors which are aged in excess of historical levels (except in cases of good faith disputes). U.K. Issuing Bank: Bank of America or a...
Facility Obligor each of any U.S. Borrower or any U.S. Facility Guarantor, and “U.S. Facility Obligors” means all of such Persons, collectively. U.S. Facility Secured Parties: the Agent, the U.S. Issuing Bank, the U.S. Lenders and the Secured Bank Product Providers who provide Bank Products to the U.S. Facility Obligors and their Subsidiaries. U.S. Issuing Bank: Bank of America or an Affiliate or branch of Bank of America. U.S. LC Obligations: the sum (without duplication) of (a) all amounts owing by the U.S. Borrowers for any drawings under Letters of Credit; (b) the stated amount of all outstanding Letters of Credit issued for the account of any U.S. Borrower, which if such Letter of Credit is denominated in a currency other than Dollars, may be stated by Agent (at its option) in Dollars calculated at the Spot Rate; and (c) all fees and other amounts owing with respect to Letters of Credit issued for the account of any U.S. Borrower.
Facility Obligor means, collectively, each Borrower.