Loan Cap definition

Loan Cap means, at any time of determination, the lesser of (a) the Aggregate Commitments and (b) the Borrowing Base.

Loan Cap means, at any time of determination, the lesser of (a) the Aggregate Commitments or (b) the Borrowing Base.

Loan Cap means, at any time, an amount equal to the lesser of (a) the Aggregate Borrowing Base as in effect at such time and (b) the aggregate Revolving Commitments in effect at such time.

Examples of Loan Cap in a sentence

• Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Loan Cap and the conditions set forth in Section 4.02.

• Such request shall be made in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Loan Cap and the conditions set forth in Section 4.02.

• In such event, the Borrowers shall be deemed to have requested a Committed Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the amount of the unutilized portion of the Loan Cap and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice).

• In such event, the Borrower shall be deemed to have requested a Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, subject to the amount of the unutilized portion of the Loan Cap and the conditions set forth in Section 4.02 (other than the delivery of a Committed Loan Notice).

• Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Loan Cap and the conditions set forth in Section 4.02.

More Definitions of Loan Cap

Loan Cap means as of any date of determination, “Loan Cap” (as such term is defined in the ABL Loan Agreement as in effect on the date hereof).

Loan Cap means, as of any date of determination, the lesser of (a) the Maximum Credit, and (b) the Borrowing Base as of such date of determination.

Loan Cap the U.S. Loan Cap or the Canadian Loan Cap, as the context may require.

Loan Cap means, on any date of determination, an amount equal to the lesser of (a) the Maximum Revolver Amount and (b) the Combined Borrowing Base.

Loan Cap is amended to read as follows:

Loan Cap means US$1,000,000 or such amount greater than US$1,000,000 to which the Holder has given its consent in writing.

Loan Cap means, at any time of determination, (i)[ if the Term Loan Draw Date occurs, from such date] until the repayment in full of the Term Loan, the sum of (a) the lesser of (x) the Aggregate Revolving Commitments or (y) the Aggregate Revolving Borrowing Base (as calculated without giving effect to the Term Loan Push Down Reserve), plus (b) the lesser of (x) the then outstanding amount of the Term Loan or (y) the Term Loan Borrowing Base, and (ii)[ until such time as the Term Loan Draw Date occurs, and in the event such date occurs,] after repayment in full of the Term Loan, the Revolving Loan Cap.