Intentional Overadvances definition

Intentional Overadvances shall have the meaning set forth in Section 16.2(e) hereof.
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Intentional Overadvances has the meaning specified therefor in Section 2.3(d)(ii) of this Agreement.
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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.
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Examples of Intentional Overadvances in a sentence

  • Agent shall provide notice of Intentional Overadvances to Revolving 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.

  • 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.

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

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

  • 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 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.

  • 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.

  • Administrative Agent's and Swingline Lender's authorization to make Intentional Overadvances may be revoked at any time by Majority Lenders delivering written notice of such revocation to Administrative Agent.


More Definitions of Intentional Overadvances

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.
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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.
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Related to Intentional Overadvances

  • Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base or misrepresentation by the Loan Parties.

  • Overadvance has the meaning set forth in Section 2.5.

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Permitted Overadvance means an Overadvance made by the Administrative Agent, in its discretion, which:

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

  • Protective Advance has the meaning assigned to such term in Section 2.04.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Swing Loan Exposure means, as of any date of determination with respect to any Lender, such Lender’s Pro Rata Share of the Swing Loans on such date.

  • U.S. Revolving Credit Exposure means, with respect to any Lender at any time, the sum of such Lender’s outstanding U.S. Revolving Loans and its U.S. L/C Exposure and U.S. Swingline Exposure at such time.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • 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.

  • Aggregate Credit Exposures means, at any time, in respect of (a) the Term Facility, the aggregate amount of the Term Loans outstanding at such time and (b) in respect of the Revolving Credit Facility, the sum of (i) the unused portion of the Revolving Credit Facility at such time and (ii) the Total Revolving Credit Outstandings at such time.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Revolving Advances means Advances made other than Letters of Credit.

  • Aggregate Credit Exposure means, at any time, the aggregate Credit Exposure of all the Lenders at such time.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

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

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.