Intentional Overadvances definition

Intentional Overadvances shall have the meaning set forth in Section 16.2(e) hereof.

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Intentional Overadvances means the aggregate outstanding principal amount of all revolving loans, letter of credit accommodations and other financial accommodations (including Cash Management Obligations) that are made, issued or incurred pursuant to the ABL Documents intentionally and with actual knowledge that such revolving loans, letter of credit accommodations or other financial accommodations (including Cash Management Obligations) cause the aggregate outstanding principal amount of all revolving loans, letter of credit accommodations and other financial accommodations (including Cash Management Obligations) made, issued or incurred pursuant to the ABL Documents to exceed the amount set forth in clause (ii)(A) of the definition of Maximum ABL Obligations.

Intentional Overadvances means the aggregate outstanding principal amount of all revolving loans, letter of credit accommodations and other financial accommodations that are made or issued pursuant to the Revolver Credit Agreement intentionally or with actual knowledge that such revolving loans, letter of credit accommodations or other financial accommodations cause the aggregate outstanding principal amount of all revolving loans, letter of credit accommodations and other financial accommodations made or issued pursuant to the Revolver Credit Agreement to exceed the Canadian Revolver Availability or the U.S. Revolver Availability.

Examples of Intentional Overadvances in a sentence

• Agent shall provide notice of Intentional Overadvances to Revolving Lenders as promptly as practicable thereafter.

• Administrative Agent shall provide notice of Intentional Overadvances to Lenders as promptly as practicable thereafter.

• Agent’s and Swing Lender’s authorization to make Intentional Overadvances may be revoked at any time by the Required Lenders delivering written notice of such revocation to Agent.

• The ability of Agent to make Protective Advances is separate and distinct from its ability to make Intentional Overadvances and its ability to make Intentional Overadvances is separate and distinct from its ability to make Protective Advances.

• Agent's and Swing ▇▇▇▇▇▇'s authorization to make Intentional Overadvances may be revoked at any time by the Required Lenders delivering written notice of such revocation to Agent.

• In any event, if any Intentional Overadvance permitted pursuant to this Section 2.6(g)(ii), remains outstanding for more than 30 days, unless otherwise agreed to by Majority Lenders, Borrower shall immediately repay Advances in an amount sufficient to eliminate all such Intentional Overadvances.

• The Protective Advances and Intentional Overadvances shall be repayable on demand, secured by Agent’s Liens, constitute Obligations hereunder, and bear interest at the rate applicable from time to time to Advances that are Base Rate Loans.

• For the avoidance of doubt, the limitations on Agent’s ability to make Protective Advances do not apply to Intentional Overadvances and the limitations on Agent’s ability to make Intentional Overadvances do not apply to Protective Advances.

• For purposes of this paragraph, the discretion granted to Agent hereunder to make Intentional Overadvances shall not be limited by the amount of the Out-of-Formula Loan.

• The Required Advances Lenders may revoke the authority of the Agent to make future Intentional Overadvances at any time and in no event shall any Intentional Overadvances cause the Advances Usage to exceed the Maximum Revolver Amount.

More Definitions of Intentional Overadvances

Intentional Overadvances has the meaning specified therefor in Section 2.3(d)(ii) of this Agreement.

Intentional Overadvances shall have the meaning set forth in Section 16.2(e) hereof. "Intercompany Subordination Agreement" shall mean the Intercompany Subordination Agreement dated as of the Original Closing Date among Credit Parties, certain Affiliates of Credit Parties and Agent. --

Intentional Overadvances means the aggregate outstanding principal amount of loans and letter of credit accommodations that are made or issued pursuant to the Working Capital Loan and Security Agreement intentionally or with actual knowledge that such loans and letter of credit accommodations cause the aggregate outstanding principal amount of loans and letter of credit accommodations to exceed the amount equal to the Availability.

Intentional Overadvances has the meaning set forth in Section 2.6(g)(ii).