Incremental Available Amount means, on any date of determination, (a) $1,000,000,000, plus, (b) any additional or other amount, so long as, solely in this case of this clause (b) and subject to Section 1.07, the Borrower has provided the financial statements described in Section 5.01(e) as of and for the most recently ended Measurement Period for which financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b) and the Senior Secured Net Leverage Ratio does not exceed 2.50 to 1.00, determined on a pro forma basis after giving effect to such New Commitments as of such Measurement Period and treating any New Commitments or Specified Indebtedness consisting of a revolving credit facility incurred on such date (or, in the case, of a Limited Conditionality Acquisition, to be incurred in connection with such acquisition) as fully drawn; provided that Senior Secured Indebtedness shall be determined without taking into account any cash or Cash Equivalents constituting proceeds of any Loans made under any New Commitments or Specified Indebtedness to be provided on such date (or, in the case, of a Limited Conditionality Acquisition, to be incurred in connection with such acquisition) that may otherwise reduce the amount of Senior Secured Indebtedness for purposes of determining the Senior Secured Net Leverage Ratio; provided, further, that subject to Section 1.07, the Incremental Available Amount shall not exceed an amount that would cause the principal amount of outstanding Secured Specified Indebtedness to exceed the amount permitted by Section 6.02(r).
Incremental Available Amount means, with respect to either AB Private Credit Investors Corporation or AB Private Credit Investors Middle Market Direct Lending Fund L.P., the portion of the Borrowing Base that is attributable to the difference between (a) sixty-five percent (65%) of the aggregate Unfunded Capital Commitments of the Included Investors that are Eligible HNW Investors in such Fund Group, as such amount is first reduced by all applicable Concentration Limits, and (b) fifty percent (50%) of the aggregate Unfunded Capital Commitments of the Included Investors that are Eligible HNW Investors in such Fund Group, as such amount is first reduced by all applicable Concentration Limits.
Incremental Available Amount means, on any date of determination, (a) $1,000,000,000, plus, (b) any additional or other amount, so long as, solely in this case of this clause (b), the Borrower has provided the financial statements described in Section 5.01(e) and the Senior Net Leverage Ratio does not exceed 2.50 to 1.00, determined on a pro forma after giving effect to such New Commitments as of the most recently ended Measurement Period for which financial statements have been delivered and treating any New Commitments or Specified Indebtedness consisting of a revolving credit facility incurred on such date (or, in the case, of a Limited Conditionality Acquisition, to be incurred in connection with such acquisition) as fully drawn; provided that Senior Indebtedness shall be determined without taking into account any cash or cash equivalents constituting proceeds of any Loans made under any New Commitments or Specified Indebtedness to be provided on such date (or, in the case, of a Limited Conditionality Acquisition, to be incurred in connection with such acquisition) that may otherwise reduce the amount of Senior Indebtedness.
Examples of Incremental Available Amount in a sentence
The Borrower may by written notice to the Administrative Agent elect to increase the existing Revolving Credit Commitments of any Class (any such increase, the “Incremental Revolving Credit Commitments”) and/or increase the existing Term Commitments or incur one or more new term loan commitments (the “Incremental Term Loan Commitments”), by an amount (1) not to exceed in the aggregate, at the time of incurrence the Incremental Available Amount and (2) not less than, individually, $25,000,000.
More Definitions of Incremental Available Amount
Incremental Available Amount means, for purposes of any Incremental Commitments on any date of determination, (a) the 2021 Incremental Commitment, plus (b) $1,500,000,000, plus, (c) any additional or other amount, so long as, solely in this case of this clause (c) and subject to Section 1.06, the Borrower has provided the financial statements described in Section 5.01(e) as of and for the most recently ended Measurement Period for which financial statements have been delivered pursuant to Section 5.01(a) or 5.01(b) and the Senior Secured Net Leverage Ratio does not exceed 2.50 to 1.00, determined on a pro forma basis after giving effect to such Incremental Commitments as of such Measurement Period and treating any Incremental Commitments or Specified Indebtedness consisting of a revolving credit facility incurred on such date (or, in the case, of a Limited Conditionality Acquisition, to be incurred in connection with such acquisition) as fully drawn; provided that Senior Secured Indebtedness shall be determined without taking into account any cash or Cash Equivalents constituting proceeds of any Loans made under any Incremental Commitments or Specified Indebtedness to be provided on such date (or, in the case, of a Limited Conditionality Acquisition, to be incurred in connection with such acquisition) that may otherwise reduce the amount of Senior Secured Indebtedness for purposes of determining the Senior Secured Net Leverage Ratio; provided, further, that subject to Section 1.06, the Incremental Available Amount shall not exceed an amount that would cause the principal amount of outstanding Secured Specified Indebtedness to exceed the amount permitted by Section 6.02(r).
Incremental Available Amount means (x) $40,000,000 less the aggregate principal amount of Indebtedness incurred pursuant to Section 2.20 in reliance on this clause (x) plus (y) on and after the Funding Date, an unlimited amount so long as the pro forma Total Leverage Ratio would not exceed the Total Leverage Ratio as of the Funding Date, in each case as of the date on which the applicable Incremental Facilities become effective (assuming all Incremental Revolving Commitments are fully funded and without netting the cash proceeds of the applicable Incremental Facility), provided that, to the extent the proceeds of any Incremental Term Loans are intended to be applied to finance a Limited Condition Acquisition, pro forma compliance shall be tested in accordance with Section 1.12(c). At the option of the Borrower, to the extent permitted, Indebtedness incurred pursuant to Section 2.20 shall be deemed incurred first under clause (y) prior to being deemed incurred under clause (x).
Incremental Available Amount means the sum of (a) the Incremental Fixed Amount plus (b) the Incremental Ratio Amount; provided, (i) that the Borrower may select utilization under clause (a) or (b) above in its sole discretion, (ii) Indebtedness under any Incremental Increase or Incremental Equivalent Debt may be incurred simultaneously under clause (a) or (b) above, and proceeds from any such incurrence may be utilized in a single transaction by, unless the Borrower elects otherwise, first calculating the incurrence under clause (b) above and then calculating the incurrence under clause (a) and (iii) in the event that the Borrower incurs Indebtedness under clause (a) above and, subsequent to such incurrence, all or any portion of such Indebtedness would be permitted to be incurred under clause (b) above, such Indebtedness shall automatically be reclassified as having been incurred under clause (b) above and the Borrower’s availability under clause (a), shall be deemed restored to the extent of such reclassification.
Incremental Available Amount means, at any time, the greater of the Incremental Fixed Amount and the Incremental Ratio Amount.
Incremental Available Amount means the portion of the aggregate Revolving Loan Commitments in an aggregate amount of $1,900,000,000 (as such amount may be reduced pursuant to this Agreement). For the avoidance of doubt, the Incremental Available Amount will constitute Certain Funds Commitments subject to the Certain Funds Sublimit.
Incremental Available Amount means, the portion of the Borrowing Base that is attributable to the difference between (a) sixty-five percent (65%) of the aggregate Unfunded Capital Commitments of the Included Investors that are Eligible HNW Investors, as such amount is first reduced by all applicable Concentration Limits, and (b) fifty percent (50%) of the aggregate Unfunded Capital Commitments of the Included Investors that are Eligible HNW Investors, as such amount is first reduced by all applicable Concentration Limits.
Incremental Available Amount means (a) other than during an Investment Grade Period, the sum of (i) the Incremental Fixed Amount plus (ii) the Incremental Ratio Amount; provided, (A) that the Borrower may select utilization under clause (i) or (ii) above in its sole discretion, (B) Debt under any Incremental Facility or Incremental Equivalent Debt may be incurred simultaneously under clause (i) or (ii) above, and proceeds from any such incurrence may be utilized in a single transaction or a series of related transactions by, unless the Borrower elects otherwise, first calculating the incurrence under clause (ii) above (and disregarding the concurrent incurrence under clause (i)) and then calculating the incurrence under clause (i) and (C) in the event that the Borrower incurs Debt under clause (i) above and, subsequent to such incurrence, all or any portion of such Debt would be permitted to be incurred under clause (ii) above, such Debt shall automatically be reclassified as having been incurred under clause (ii) above and the Borrower’s availability under clause (i), shall be deemed restored to the extent of such reclassification; provided that borrowings under the Revolving Credit Facility or any other revolving credit facility shall not be excluded in such calculation or (b) during an Investment Grade Period, an unlimited amount so long as immediately after giving effect (including pro forma effect) to the Incremental Facilities (assuming that any such Incremental Facilities are drawn in full (but excluding the proceeds of any such Incremental Facilities for purposes of calculating clause (b) of the definition of Consolidated Total Net Debt in the calculation of the Total Net Leverage Ratio)), the Borrower shall be in compliance with the covenants contained in Section 6.12.