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, 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.

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.

Examples of Maximum ABL Facility Amount in a sentence

At the time the ABL Lenders made the Term Out Loans in connection with the October 2014 Transactions, the total amount of commitments outstanding under the ABL Credit Agreement was reduced to $260 million, and thus the Maximum ABL Facility Amount was exceeded by $275 million.
Since the Term Out Loans no longer constituted revolving loans, the Revolving Loan Commitments were permanently reduced by $275 million, resulting in a reduction of the Maximum ABL Facility Amount under the Intercreditor Agreement to $260 million (i.e., the original $535 million in revolving commitments minus $275 million in commitments that were permanently reduced by “terming out” the related revolving loans).
When the ABL Lenders made the Term Out Loans in connection with the October 2014 Transactions, the total amount of commitments outstanding under the ABL Credit Agreement was reduced to $260 million,4 and thus the Maximum ABL Facility Amount was exceeded by $275 million.
The firm may do so in relation to all the regulated activities and specified products or only particular activities and products.
Among the bargained-for protections provided to the SCP Lenders under the Intercreditor Agreement are restrictions limiting the ABL Lenders’ senior liens (i) to a "Maximum ABL Facility Amount" and (ii) to those resulting from asset-based revolving loans (other than the ABL Term Loan).

More Definitions of Maximum ABL Facility Amount

Maximum ABL Facility Amount means $235,000,000. “Maximum Rate” has the meaning specified in Section 10.10.

Maximum ABL Facility Amount means $275,000,000.

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)”.

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 principal amount of $400,000,000 minus the principal amount of any mandatory repayment of the ABL Facility Claims made after the date hereof which is accompanied by a permanent reduction (other than a voluntary reduction) in the commitments thereunder equal to the amount of such repayment (specifically excluding, however, any such repayments and commitment reductions occurring in connection with any Refinancing permitted by the terms hereof).

Maximum ABL Facility Amount means the sum of (i) $50,000,000 and (ii) additional incremental Indebtedness under the ABL Facility not to exceed $25,000,000 in the aggregate (provided that no more than $15,000,000 in the aggregate of such additional incremental Indebtedness pursuant to this clause (ii) shall be permitted for purposes other than the financing of acquisitions by the Borrower).

Maximum ABL Facility Amount means ,000,000. “Maximum Rate” has the meaning specified in Section 10.10. “Moody’s” means Xxxxx’x 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