Maximum ABL Facility Amount definition
Maximum ABL Facility Amount means the greatest of (i) a principal amount of $220,000,000, (ii) an amount equal to the Intercreditor Borrowing Base at the time the applicable ABL Debt Obligations were incurred and (iii) an amount equal to the aggregate principal amount of all Qualifying ABL Debt.
Maximum ABL Facility Amount means the sum of (i) the Revolving Commitments (as defined in the ABL Credit Agreement) under the ABL Credit Agreement as in effect on the Closing Date plus (ii) any additional Revolving Commitment Increases (as defined in the ABL Credit Agreement) permitted to be incurred pursuant to Section 2.23 of the ABL Credit Agreement as in effect on the Closing Date.
Maximum ABL Facility Amount means, on any date of determination thereof, the principal amount equal to the sum of (i) the lesser of (A) $70,000,000 plus increases in Commitments under the ABL Credit Agreement up to an aggregate of $15,000,000 pursuant to the terms and conditions of Section 2.15 (as in effect on the date hereof) of the ABL Credit Agreement (provided, however, that the amount described in this clause (A) shall be reduced on a dollar-for-dollar basis for all permanent reductions of the commitments to extend credit under the ABL Documents and for permanent reductions of such commitments required hereunder, so long as any repayments to be made in connection with such commitment reductions have been made), and (B) the ABL Borrowing Base plus (ii) Protective Overadvances in an amount up to five percent (5%) of the ABL Borrowing Base, plus (iii) in addition to the Protective Overadvances described in clause (ii), Protective Overadvances to fund payroll in an amount not to exceed the aggregate amount required (and actually used) to fund payroll requests of the Loan Parties for a two-week period solely for employees of the Loan Parties in the United States, plus (iv) any Inadvertent Overadvance Amounts, minus (v) the Minimum Availability Amount.
Examples of Maximum ABL Facility Amount in a sentence
No Credit Party shall propose an order permitting the use of Cash Collateral, the terms of which, and no Credit Party shall use the Cash Collateral in a manner that, would allow the aggregate principal amount of the pre-petition or pre-filing loans and letters of credit included in the ABL Claims to exceed the Maximum ABL Facility Amount (each as defined in the Intercreditor Agreement), after giving effect to the provisions of Section 9.1(a)(ii) of the Intercreditor Agreement.
More Definitions of Maximum ABL Facility Amount
Maximum ABL Facility Amount means $235,000,000.
Maximum ABL Facility Amount means the greatest of (i) a principal amount of $175,0000,000, (ii) an amount equal to the Intercreditor Borrowing Base at the time the applicable ABL Debt Obligations were incurred and (iii) an amount equal to the aggregate principal amount of all Qualifying ABL Debt.
Maximum ABL Facility Amount means $235,000,000. “Maximum Rate” has the meaning specified in Section 10.10.
Maximum ABL Facility Amount means ,000,000. “Maximum Rate” has the meaning specified in Section 10.10. “Moody’s” means ▇▇▇▇▇’▇ Investors Service, Inc. and any successor thereto. “Mortgage Policies” has the meaning specified in the defmition of “Collateral and Guarantee Requirement.” “Mortgaged Properties” has the meaning specified in the definition of “Collateral and Guaran tee Requirement.” “Mortgages” means collectively, the deeds of trust, trust deeds, hypothecs and mortgages made by the Loan Parties in favor or for the benefit of the Administrative Agent on behalf of the Secured Par ties creating and evidencing a Lien on a Mortgaged Property in form and substance reasonably satisfacto ryto the Administrative Agent, and any other mortgages executed and delivered pursuant to Sections 6.11 and 6.13, in each case, as the same may from time to time be amended, restated, supplemented or other wise modified. “Multiemployer Plan” means any employee benefit plan of the type described in Sec tion 400l(a)(3) of ERISA, to which a Loan Party, any Restricted Subsidiary or any ERISA Affiliate
Maximum ABL Facility Amount means (i) $63,000,000 in principal, minus (ii) all permanent reductions of the commitments to extend credit under the ABL Loan Documents so long as any repayments to be made in connection with such commitment reductions have been made.
Maximum ABL Facility Amount means the result of (a) $38,400,000, plus (b) to the extent applicable, one hundred and twenty percent (120%) of the amount of any actual increase in the Aggregate Commitments (as defined in the ABL Credit Agreement) as of the effective date of such increase pursuant to Section 2.15 of the ABL Credit Agreement (as in effect on the date hereof), minus (c) the amount of all payments of ABL Obligations under the ABL Credit Agreement that result in a permanent reduction of the Aggregate Commitments under the ABL Credit Agreement (other than payments of such ABL Obligations upon and in connection with a refinancing thereof including pursuant to a DIP Financing).
Maximum ABL Facility Amount set forth in the Intercreditor Agreement is hereby amended by deleting the text “and (B) the ABL Borrowing Base” and replacing it with “and (B) the ABL Borrowing Base (provided, however, that the amount described in this clause (B) shall be reduced on a dollar-for-dollar basis by the amount of minimum Excess Availability required by Section 7.15 of the ABL Credit Agreement)”.