Examples of Initial Revolving Borrowing in a sentence

The proceeds of the Initial Revolving Borrowing will be used to finance the Transactions and fees and expenses related to the Transactions and for working capital needs of the Borrower and its Subsidiaries.
The proceeds of the Initial Term Loans, together with the proceeds of (i) the Senior Notes, (ii) the Equity Investment and (iii) a portion of the Initial Revolving Borrowing, will be used by the Borrower to directly or indirectly consummate the Transactions, to pay the costs and expenses related to the Transactions and to fund cash to the Borrower’s balance sheet.

More Definitions of Initial Revolving Borrowing

Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans on the Closing Date in an amount not to exceed the aggregate amounts specified or referred to in the definition of the term “Permitted Initial Revolving Credit Borrowing Purposes”; provided, that, without limitation, Letters of Credit may be issued on the Closing Date to backstop or replace letters of credit, guarantees and performance or similar bonds outstanding on the Closing Date (including deemed issuances of Letters of Credit under this Agreement resulting from existing issuers of letters of credit outstanding on the Closing Date agreeing to become L/C Issuers under this Agreement).

Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in Section 2.01(b) and Section 2.03(a)(i).

Initial Revolving Borrowing means the borrowing of Revolving Credit Loans on the Closing Date; provided that the aggregate principal amount of Revolving Credit Loans borrowed on the Closing Date shall not exceed $40,000,000 (but excluding in any event (x) Revolving Credit Loans made on the Closing Date to fund (1) OID or upfront fees, whether or not required to be funded under the “market flex” provisions of the Fee Letter and (2) working capital needs of the Borrower and its Subsidiaries and (y) Letters of Credit issued on the Closing Date to backstop or replace letters of credit, guarantees and performance or similar bonds outstanding on the Closing Date (including deemed issuances of Letters of Credit under this Agreement resulting from existing issuers of letters of credit outstanding on the Closing Date agreeing to become L/C Issuers under this Agreement)).

Initial Revolving Borrowing means Letters of Credit that are “rolled over” or issued in order to, among other things, backstop or replace Existing Letters of Credit outstanding on the Closing Date.

Initial Revolving Borrowing means one or more borrowings of Revolving Loans in amounts not to exceed up to $10,000,000 (including for working capital purposes and/or to pay Transaction Costs).

Initial Revolving Borrowing means (i) if Prior Spin-Off does not occur, Letters of Credit that are “rolled over” or issued in order to, among other things, backstop or replace Target Existing Letters of Credit outstanding on the Revolver Closing Date and (ii) if Prior Spin-Off occurs, one or more borrowings of Revolving Credit Loans and/or deemed issuances of Letters of Credit on the Revolver Closing Date.

Initial Revolving Borrowing. (x) one or more borrowings of Revolving Loans on the Closing Date in amounts not to exceed up to (i) $25,000,000 (including for paying the Closing Date Transaction Costs), plus (ii) amounts necessary to repay Acquired Business Existing Debt constituting revolving loans, plus (iii) amounts necessary to provide for working capital (including any working capital adjustment), plus (iv) amounts required to fund any additional fees payable resulting from the exercise of “Market Flex” under the Fee Letter, and (y) Letters of Credit issued on the Closing Date to replace or backstop letters of credit of the Acquired Business existing on the Closing Date prior to the consummation of the Acquisition.