Line of Credit Commitment definition

Line of Credit Commitment means the committed line of credit facility established by Bank in favor of Borrower in the amount set forth in the Line of Credit Note and upon the terms described in this Agreement.

Line of Credit Commitment shall have the meaning set forth in Section 2.1 of this Agreement.

Line of Credit Commitment means either a US Line of Credit Commitment or Canadian Line of Credit Commitment, as the case may be.

Examples of Line of Credit Commitment in a sentence

• The maximum principal amount of Advances under the Line of Credit Commitment at any time outstanding shall not exceed the committed amount of the Line of Credit Commitment.

• Bank may also terminate the Line of Credit Commitment pursuant to Section 10 hereof.

• Within the limits of the Facility Commitment and the Canadian Subfacility Amount, and in accordance with the procedures set forth in this Agreement and the Servicing Agreement, the Sponsor may authorize the Servicer to establish a Canadian Line of Credit Commitment in favor of a Canadian Franchisee who meets the credit criteria established by the Sponsor.

• Pursuant to the US Line of Credit Commitment the Servicer shall agree to make Advances to the US Borrower thereunder.

• Each US Borrower shall agree to pay a commitment fee on its unused US Line of Credit Commitment in an amount to be determined by the Sponsor but in any event not to exceed 1.00% per annum, such commitment fee to be paid quarterly, in arrears.

More Definitions of Line of Credit Commitment

Line of Credit Commitment is defined in Section 2.1 of Schedule B.

Line of Credit Commitment means, with respect to each Lender, the obligation of such Lender to make Line of Credit Loans to the Borrower in a principal amount equal to such Lender's Applicable Commitment Percentage of the Total Line of Credit Commitment.

Line of Credit Commitment or "Commitment" shall mean at any time for any Lender, the amount of such commitment set forth opposite such Lender's name on the signature pages hereof or in any assignment hereafter executed by any assignee of a Lender pursuant to Section 10.06, as the same may be increased or decreased from time to time as a result of any reduction thereof pursuant to Section 2.03, any assignment thereof pursuant to Section 10.06, or any amendment thereof pursuant to Section 10.02.

Line of Credit Commitment means the Commitment established pursuant to Section 1.1. hereof and Section 1.3 hereof.

Line of Credit Commitment has the meaning ascribed to such term in the Credit Agreement.

Line of Credit Commitment means at any time for SunTrust, Twenty-Five Million Dollars ($25,000,000.00), as the same may be increased or decreased from time to time as a result of any reduction thereof pursuant to Section 3.3, any assignment thereof pursuant to Section 11.6, or any amendment thereof pursuant to Section 11.2.

Line of Credit Commitment means, as at any applicable time, the Borrower’smaximum credit availability under the Line of Credit, as established in Section 2.1(a) whether or not then fully extended.