First Western Revolving Facility definition

First Western Revolving Facility means the revolving line of credit facility described in Section 2.5.
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Examples of First Western Revolving Facility in a sentence

  • The Principal Debt under the PMC Revolving Facility and the First Western Revolving Facility is due and payable on the Termination Date.

  • The Principal Debt outstanding under the First Western Revolving Facility shall be evidenced by the First Western Revolving Notes, one payable to each Lender in the maximum stated principal amount of its Committed Sum under the First Western Revolving Facility as of the Closing Date.

  • On any date of determination, if the Commitment Usage under the First Western Revolving Facility exceeds the First Western Commitment then in effect, then First Western shall make a mandatory prepayment of the Principal Debt under the First Western Revolving Facility in at least the amount of any such excess, together with (x) all accrued and unpaid interest on the principal amount so prepaid and (y) any Consequential Loss arising as a result thereof.

  • Subject to the other provisions in the Credit Documents, including, without limitation, clause (b) below, the proceeds of all Borrowings under the First Western Revolving Facility will be used either (x) to finance First Western’s Commercial Loan origination under the 7(a) Loan Program of the U.S. Small Business Administration or (y) for general corporate purposes.

  • The proceeds of the First Western Revolving Facility will be used by First Western solely for the purposes specified in Section 6.1(a).

  • The following procedures apply to all Borrowings under the First Western Revolving Facility: ( a) Borrowing Request.

  • The Specified Borrowers promise to pay the Principal Debt outstanding under the PMC Revolving Facility on the Termination Date and First Western promises to pay the Principal Debt outstanding under the First Western Revolving Facility on the Termination Date.

  • The Principal Debt outstanding under the First Western Revolving Facility shall be evidenced by the First Western Revolving Notes, one payable to each Lender executed by First Western in the maximum stated principal amount of such Lender’s Committed Sum under the First Western Revolving Facility as of the Fourth Amendment Effective Date.

  • COMMITMENTS 17 2.1 PMC Revolving Facility 17 2.2 PMC Borrowing Procedure 18 2.3 PMC Borrowing Requests 18 2.4 Reduction or Termination of PMC Commitment 19 2.5 First Western Revolving Facility 19 2.6 First Western Borrowing Procedure 19 2.7 First Western Borrowing Requests 20 2.8 Reduction or Termination of First Western Commitment 20 SECTION 3.

Related to First Western Revolving Facility

  • Initial Revolving Facility means the Initial Revolving Credit Commitments and the Initial Revolving Loans and other extensions of credit thereunder.

  • Extended Revolving Facility Commitment shall have the meaning assigned to such term in Section 2.21(e).

  • Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).

  • Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Revolving Facility means the facility under which Borrower may request Bank to issue Advances, as specified in Section 2.1(a) hereof.

  • Other Revolving Facility Commitments means Incremental Revolving Facility Commitments to make Other Revolving Loans.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Extended Revolving Credit Facility means each Class of Extended Revolving Credit Commitments established pursuant to Section 2.15(a)(ii).

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Replacement Revolving Facility Effective Date shall have the meaning assigned to such term in Section 2.21(l).

  • Revolving Facility Commitment means, with respect to each Revolving Facility Lender, the commitment of such Revolving Facility Lender to make Revolving Facility Loans pursuant to Section 2.01(b), expressed as an amount representing the maximum aggregate permitted amount of such Revolving Facility Lender’s Revolving Facility Credit Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.08, (b) reduced or increased from time to time pursuant to assignments by or to such Lender under Section 9.04, and (c) increased (or replaced) as provided under Section 2.21. The initial amount of each Lender’s Revolving Facility Commitment is set forth on Schedule 2.01 or in the Assignment and Acceptance or Incremental Assumption Agreement pursuant to which such Lender shall have assumed its Revolving Facility Commitment, as applicable. The aggregate amount of the Lenders’ Revolving Facility Commitments on the Closing Date is $500,000,000. On the Closing Date, there is only one Class of Revolving Facility Commitments. After the Closing Date, additional Classes of Revolving Facility Commitments may be added or created pursuant to Incremental Assumption Agreements.

  • Revolving Facility Exposure means, for any Lender at any time, the sum of (i) the principal amount of Revolving Loans made by such Lender and outstanding at such time, and (ii) such Lender’s share of the LC Outstandings at such time.

  • Additional Revolving Facility means any revolving credit facility added pursuant to Sections 2.22, 2.23 or 9.02(c)(ii).

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Existing Revolving Credit Facility means the $600,000,000 (subject to increase in accordance with its terms) revolving credit facility evidenced by that certain Amended and Restated Revolving Credit Agreement dated as of June 14, 2022 by and among the Borrower, the Parent, the lenders from time to time party thereto as “Lenders”, and JPMorgan Chase Bank, N.A., as Agent.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Replaced Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • L/C Facility means the letter of credit facility established pursuant to Article III.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.