Incremental Limit definition

Incremental Limit shall have the meaning provided in Section 2.14(b).
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Incremental Limit has the meaning assigned to such term in Section 2.20(b).
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Incremental Limit means the sum of (a) $750,000,000 plus (b) an aggregate additional amount of Indebtedness, such that, after giving pro forma effect to such Incurrence (and after giving effect to any transaction to be consummated in connection therewith and assuming that all Incremental Revolving Commitments then outstanding were fully drawn), the Borrower would be in compliance with a Senior Secured Leverage Ratio as of the last day of the Test Period most recently ended on or prior to the Incurrence of any such Incremental Revolving Commitments or Incremental Term Loans, calculated on a pro forma basis, as if such Incurrence (and transaction) had occurred on the first day of such Test Period, that is no greater than 3.50:1.0.
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Examples of Incremental Limit in a sentence

  • Therefore, the Cedents and the Reinsurer agree that the Reserve Credit Trust Assets provided by the Reinsurer shall not exceed, as calculated at any time during this Agreement, an amount equal to the Incremental Limit Amount plus the absolute value of cumulative Reinsurer Allowances.

  • As of the First Amendment Effective Date (but immediately prior to giving effect thereto), the Borrower shall (x) not have incurred additional Facilities (under and as defined in the Existing Credit Agreement) in respect of clause (a) of the Incremental Limit (under and as defined in the Existing Credit Agreement) in an aggregate amount in excess of $50,000,000, and (y) have capacity under Section 7.6(h) of the Existing Credit Agreement in an amount not less than $40,000,000.

  • The Incremental Limit Amount ("ILA") shall be equal to $200 million, subject however, to xxy reduction pursuant to Articles 17 and 18 herein.

  • Breach Event occurs and remains unresolved, in addition to any other remedy available to the Reinsurer pursuant to this Agreement in law or in equity, a Limit Amount Reduction shall occur and apply to reduce the Reinsurer's Incremental Limit Amount under Article II of this Agreement.

  • Notwithstanding anything else agreed in this Agreement, at no time shall the Reinsurer be required to maintain the Aggregate Trust Account Value in excess of the Incremental Limit Amount plus the aggregate Reinsurer Allowance paid.

  • Upon notice to the Administrative Agent prior to the HCOM End Date, the Borrower may request the addition of an Incremental Term Facility in connection with the consummation of the HCOM Acquisition (the “HCOM Incremental Term Facility”); provided that such request for an HCOM Incremental Term Facility shall not exceed the Incremental Limit for any HCOM Incremental Term Facility.


More Definitions of Incremental Limit

Incremental Limit as defined in Section 2.22(a).
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Incremental Limit means, with respect to any proposed incurrence of additional Indebtedness under Section 2.15 and any Incremental Equivalent Indebtedness, an amount equal to the sum of:
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Incremental Limit shall have the meaning provided in Section 2.14(b)(y)(B). “Incremental Ratio Debt Amount” shall have the meaning provided in Section 2.14(b)(y)(B). “Incremental Revolving Credit Commitment Increase” shall have the meaning provided in Section 2.14(a)(ii). “Incremental Revolving Credit Commitment Increase Lender” shall have the meaning provided in Section 2.14(f)(ii). “Incremental Term Loan Commitment” shall mean the Commitment of any Lender to make Incremental Term Loans of a particular Class pursuant to Section 2.14(a), which shall include the 2022 Incremental Term Loan Commitments. “Incremental Term Loan Facility” shall mean each Class of Incremental Term Loans made pursuant to Section 2.14, which shall include the 2022 Incremental Term Loan Facility. “Incremental Term Loan Maturity Date” shall mean, with respect to any Class of Incremental Term Loans made pursuant to Section 2.14, the final maturity date thereof. The Incremental Term Loan Maturity Date for the 2022 Incremental Term Loans shall be the 2022 Incremental Term Loan Maturity Date. “Incremental Term Loans” shall have the meaning provided in Section 2.14(a)(i), which shall include the 2022 Incremental Term Loan Loans. “Incremental/Refinancing Maturity Limitation Excluded Amount” shall mean an amount equal to the greater of (x) $55.0 and (y) 50.0% of Consolidated EBITDA of the Borrower and its Restricted Subsidiaries for the Test Period most recently ended on or prior to such date of determination (measured as of such date) based upon the Internal Financial Statements most recently available on or prior to such date minus the sum of (w) the aggregate amount of Indebtedness Incurred pursuant to a Permitted Debt Exchange without regard to clause (w) of the second proviso to Section 2.17(a), (x) the aggregate amount of Incremental Term Loans Incurred without regard to clause (B) or (C) of Section 2.14(c), and (y) the aggregate amount of Credit Agreement Refinancing Indebtedness Incurred without regard to the requirements under clause (ii) of the definition of “Credit Agreement Refinancing Indebtedness” pursuant to subclause (y) of such clause (ii) and (z) the aggregate amount of Permitted Refinancing Indebtedness Incurred without regard to the requirements under clause (C) of the definition of “Permitted Refinancing Indebtedness” pursuant to the proviso to such clause (C). “Incur” shall mean create, issue, assume, guarantee, incur or otherwise become directly or indirectly liable for any Indebtednes...
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Incremental Limit means, as of any date of determination, for the purpose of determining the availability to incur an Incremental Facility pursuant to Section 2.16 or Section 2.17 or Incremental Equivalent Indebtedness pursuant to Section 8.03(l)(i), an amount equal to the sum of (a) (i) $200,000,000, minus the sum of (A) the aggregate amount of Revolving Commitment Increases, (B) the aggregate amount of Incremental Term Commitments and (C) the aggregate amount of Incremental Equivalent Indebtedness, in each case established or incurred prior to such date in reliance on this clause (a)(i), plus (ii) in the case of any Incremental Facility or Incremental Equivalent Indebtedness incurred to finance a Permitted Acquisition or Permitted Investment, $150,000,000, minus the sum of (A) the aggregate amount of Revolving Commitment Increases, (B) the aggregate amount of Incremental Term Commitments and (C) the aggregate amount of Incremental Equivalent Indebtedness, in each case established or incurred prior to such date in reliance on this clause (a)(ii), plus (iii) in the case of any HCOM Incremental Term Facility or HCOM Incremental Equivalent Indebtedness, the HCOM Incremental Amount, minus the sum of (A) the aggregate amount of any HCOM Incremental Term Facility and (B) the aggregate amount of HCOM Incremental Equivalent Indebtedness, in each case established or incurred prior to such date in reliance on this clause (a)(iii); (b) such additional amounts as would not cause the Consolidated Secured Leverage Ratio to exceed 1.80 to 1.00 (or, if any HCOM Incremental Term Facility is established pursuant to Section 2.17(f) and the net cash proceeds thereof are or will be used to fund a portion of the HCOM Acquisition, 2.60 to 1.00), calculated on a Pro Forma Basis after giving effect to any such incurrence (determined without giving effect to the cash proceeds from any such incurrence or any amount incurred simultaneously under clause (a) and assuming for purposes of such calculation that any Revolving Commitment Increase is fully drawn) and the application of proceeds therefrom (and after giving effect to any related Acquisition, Disposition, incurrence or retirement of Indebtedness or other appropriate pro forma event); provided, that it is understood and agreed that amounts under clause (b) may be used prior to using any amounts available under clause (a); and (c) all voluntary prepayments of the Tranche B Term Loans and any Incremental Term Facility originally incurred under cla...
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Incremental Limit means the sum of the Incremental Base Amount and the Incremental Ratio Debt Amount.
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Incremental Limit shall have the meaning provided in Section 2.14(b). 38 LPL – Conformed A&R Credit Agreement
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Related to Incremental Limit

  • Incremental Cap has the meaning assigned to such term in Section 2.21(a).

  • Available Incremental Amount has the meaning set forth in Section 2.14(d)(v).

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).

  • Incremental Revolving Increase has the meaning set forth in Section 2.16(a).

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.

  • Incremental Amount has the meaning specified in Section 2.14(a).

  • Incremental Facility Amendment has the meaning specified in Section 2.14(d).

  • Incremental Facility has the meaning specified in Section 2.16(a).

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

  • Incremental Term Loan Amount means, at any time, the excess, if any, of (a) $25,000,000 over (b) the sum of (i) the aggregate increase in the Revolving Credit Commitments established at or prior to such time pursuant to Section 2.24 and (ii) the aggregate amount of all Incremental Term Loan Commitments established prior to such time pursuant to Section 2.25.

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $50,000,000, minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of this Agreement.

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

  • Incremental Term A Loans has the meaning specified in Section 2.14(a).

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Incremental Loan has the meaning set forth in Section 2.14(b).

  • Incremental Term Commitments has the meaning set forth in Section 2.14(a).

  • Fixed Incremental Amount has the meaning specified in the definition of “Permitted Incremental Amount.”

  • Incremental Lenders has the meaning set forth in Section 2.14(c).

  • Incremental Commitments has the meaning set forth in Section 2.14(a).

  • Incremental Term Loan Amendment has the meaning assigned to such term in Section 2.20.

  • Incremental Loan Commitments has the meaning assigned thereto in Section 5.13(a)(ii).

  • Incremental Term Loan Commitments has the meaning set forth in Section 2.24.

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.

  • Incremental Term Commitment means, with respect to any Lender, the commitment, if any, of such Lender, established pursuant an Incremental Facility Agreement and Section 2.21, to make Incremental Term Loans of any Series hereunder, expressed as an amount representing the maximum principal amount of the Incremental Term Loans of such Series to be made by such Lender.

  • Incremental Term Loan Facility has the meaning set forth in Section 2.16(a).

  • Incremental Commitment shall have the meaning set forth in Section 2.23.