Maximum Amount of Credit definition

Maximum Amount of Credit. Section 2.1.1. "Maximum Leverage Ratio" Section 7.10.1. "Offshore Rate" Section 3.3.1. "Partnership Agreement" Section 7.13. "Payment Date" Section 3.1. "Permitted Liens" Section 7.7. "Plan Assets" Section 7.16. "Pledged Indebtedness" Section 6.1.4.(c) "Pledged Rights" Section 6.1.4.(b) "Pledged Securities" Section 6.1.4.(c) "Pledged Stock" Section 6.1.4.(a) "Secured Obligations" Section 6.1 "Swap Contracts"

Maximum Amount of Credit is defined in Section 2.1.2

Maximum Amount of Credit means, on any date, the lesser of (a) (i) from the initial Closing Date through June 22, 2022, $20,000,0000, (ii) from June 23, 2022 through June 22, 2023, $15,000,0000 and (iii) from June 22, 2023 to the Final Maturity Date, $10,000,000, in each case, or such other amount as may be agreed by the Borrower and the Lender, and (b) the amount (in an integral multiple of $10,000) to which the then applicable amount set forth in clause (a) above shall have been irrevocably reduced from time to time by notice from the Borrower to the Lender.

Examples of Maximum Amount of Credit in a sentence

• If at any time the aggregate principal amount of the Loans exceeds the Maximum Amount of Credit, the Company will promptly pay to you the amount of such excess.

• The principal amount of the Loans prepaid pursuant to this Section 5.2.2 may not be reborrowed and shall reduce the Maximum Amount of Credit.

• The Maximum Amount of Credit covered by this Agreement shall be the sum of the amount specified in the above two clauses.

• The principal amount of the Loans prepaid pursuant to this Section 5.2.4 may not be reborrowed and shall reduce the Maximum Amount of Credit.

• The Trustee agrees that no payment or distribution to the Credit Facility Secured Party pursuant to the provisions of this Agreement shall entitle the Trustee to exercise any rights of subrogation in respect thereof until the earlier of (a) the date on which all Credit Facility Indebtedness is Fully Paid and (b) the Maximum Amount of Credit Facility Indebtedness shall have been Fully Paid.

More Definitions of Maximum Amount of Credit

Maximum Amount of Credit means $250,000,000, unless this amount is increased or reduced pursuant to Sections 2.7, 3.5, 4.2.1 or 14, in which event it means such higher or lower amount. Each reduction of the Maximum Amount of Credit shall ratably reduce each Lender’s Commitment.

Maximum Amount of Credit means the lesser of (a) $125,000,000 or (b) the amount to which the Total Commitment has been permanently reduced pursuant to Section 4.2.1.

Maximum Amount of Credit has the meaning provided in Section 2.1.1.

Maximum Amount of Credit means initially $10,000,000 and thereafter shall mean the amount to which the Maximum Amount of Credit shall have been reduced as provided in Sections 2.4 and 2.5 hereof.

Maximum Amount of Credit means, on any date, the least of: (a) $80,000,000; (b) the Consolidated Unreimbursed Sales Commissions as reported for the most recent Tuesday for which such report is required to be furnished to the Lenders in accordance with Section 6.4.3; (c) the Consolidated Contingent Redemption Amount as reported for the most recent month for which such report is required to be furnished to the Lenders in accordance with Section 6.4.3; (d) the Distribution Fees Collectible as reported for the most recent month for which such report is required to be furnished to the Lenders in accordance with Section 6.4.3; and (e) to the extent less than the Maximum Amount of Credit then in effect, such amount (in a minimum amount of $10,000,000 and an integral multiple of $1,000,000) specified by irrevocable notice from the Company to the Lenders." 2.4. Amendment to Section 6.5.2. Section 6.5.2 of the Credit Agreement is amended to read in its entirety as follows:

Maximum Amount of Credit means, on any date, the lesser of (a) $800,000 or (b) the amount (in an integral multiple of $10,000) to which the then applicable amount set forth in clause (a) above shall have been irrevocably reduced from time to time by notice from the Company to the Lenders.

Maximum Amount of Credit shall be equal to, as of a particular measuring date, the sum of accounts receivables and customer activations in various categories, calculated as set forth in Exhibit C; provided, however, the Installment Sale Credit Amount and the Senior Loan amount outstanding may not exceed the Maximum Amount of Credit.