Maximum Canadian Facility Amount definition

Maximum Canadian Facility Amount on any date of determination, the lesser of (i) the Canadian Revolver Commitments on such date and (ii) $5,000,000 (or such greater or lesser amount after giving effect to any increases or reductions in the Commitments and/or Canadian Revolver Commitments pursuant to and in accordance with Section 2.1.4 from time to time); it being acknowledged and agreed that at no time can the aggregate of all Maximum Country Facility Amounts exceed the Maximum Facility Amount in effect at such time.
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Maximum Canadian Facility Amount on any date of determination, the lesser of (a) the Canadian Revolver Commitments on such date and (b) $100,000,000 (or such greater or lesser amount after giving effect to any reduction in the Canadian Revolver Commitments made pursuant to and in accordance with Section 2.1.4, any Canadian Revolver Commitment Adjustment made pursuant to and in accordance with Section 2.1.7, and/or any Canadian Incremental Commitments made pursuant to and in accordance with Section 2.1.8(b)); it being acknowledged and agreed that at no time shall the sum of the Maximum Canadian Facility Amount plus the Maximum U.S. Facility Amount exceed the Maximum Facility Amount in effect at such time.
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Maximum Canadian Facility Amount appearing in Section 1.1 of the Existing ABL Credit Agreement is hereby amended by replacing the reference to the amount “$150,000,000” therein with the amount “$140,000,000”.
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Examples of Maximum Canadian Facility Amount in a sentence

  • After giving effect to any Canadian Revolver Commitment Adjustment, the Canadian Revolver Commitment of each Canadian Lender (and the percentage of each Canadian Revolving Loan that each Participant must purchase a Canadian Revolving Loan Participation in) shall be equal to such Canadian Lender’s (or Participant’s) Pro Rata Share of the amount of the Maximum Canadian Facility Amount.

  • Without limiting the foregoing, (A) each reduction in the Maximum Canadian Facility Amount and the Canadian Revolver Commitments shall in no event exceed Canadian Availability and be in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof, and (B) each reduction in the MaximumU.S. Facility Amount and the U.S. Revolver Commitments shall in no event exceed U.S. Availability and be in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof.

  • Across the services named above there is availability to support up to 54 people at any one time, however occupancy is usually around 50%.

  • Without limiting the foregoing, (1) each reduction in the Maximum Canadian Facility Amount and the Canadian Revolver Commitments shall in no event exceed Canadian Availability and be in a minimum amount of $10,000,000 and increments of$1,000,000 in excess thereof, and (2) each reduction in the Maximum U.S. Facility Amount and the U.S. Revolver Commitments shall in no event exceed U.S. Availability and be in a minimum amount of $10,000,000 and increments of $1,000,000 in excess thereof.


More Definitions of Maximum Canadian Facility Amount

Maximum Canadian Facility Amount in Section 1.1 of the Loan Agreement is hereby amended by replacing “$20,000,000” where it appears in such definition with “$30,000,000.” (i)The defined term “Maximum European Subline Amount” in Section 1.1 of the Loan Agreement is hereby amended by replacing “$50,000,000” where it appears in such definition with “$60,000,000.” (j)The defined term “Maximum Facility Amount” in Section 1.1 of the Loan Agreement is hereby amended by replacing “$150,000,000” where it appears in such definition with “$180,000,000.” (k)The defined term “Maximum U.S./European Facility Amount” in Section 1.1 of the Loan Agreement is hereby amended by replacing “$130,000,000” where it appears in such definition with “$150,000,000.” (l)The defined term “Specified Transaction Conditions” in Section 1.1 of the Loan Agreement is hereby amended by (i) replacing “$22,500,000” where it appears in such definition with “$27,000,000” and (ii) replacing “$30,000,000” where it appears in such definition with “$36,000,000.” (m)The defined term “U.S. Borrowing Base” in Section 1.1 of the Loan Agreement is hereby amended and restated to read as follows: U.S. Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the Maximum U.S./European Facility Amount minus (x) the Canadian Overadvance Loan Balance, if any, outstanding on such date minus (y) the U.S./European LC Reserve minus (z) the European Revolver Exposure (calculated without duplication of any amounts reserved under the U.S./European LC Reserve) on such date of determination; and (b) (1) the sum of (x) 85% of the Value of Eligible Accounts of the U.S. Borrower; plus (y) the lesser of (i) 70% of the Value of Eligible Inventory of the U.S. Borrower; and (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory of the U.S. Borrower ; plus (z) 75% of the Value of Eligible Tooling Accounts of the U.S. Borrower, minus (2) the U.S./European Availability Reserve. Notwithstanding the foregoing, in no event may the maximum amount of availability under the U.S. Borrowing Base and the Canadian Borrowing Base resulting from the inclusion of Eligible Tooling Accounts exceed $30,000,000 in the aggregate. (n)The defined term “U.S./European Availability Reserve” in Section 1.1 of the Loan Agreement is hereby amended and restated to read as follows: U.S./European Availability Reserve: the sum (without duplication) of (a) the Inventory Reserve with respect to the U.S. Borrower’s Inventory; (b) the U.S./European Rent and C...
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Maximum Canadian Facility Amount in Section 1.1 of the Loan Agreement is hereby amended by replacing “$20,000,000” where it appears in such definition with “$30,000,000.”
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Maximum Canadian Facility Amount on any date of determination, the lesser of (i) the Canadian Revolver Commitments on such date and (ii) (A) for the period beginning on the Third Amendment to Third Amended and Restated Effective Date through and including May 31, 2019, $15,000,000, and (B) at all other times, $25,000,000 (or, in each case, such lesser amount after giving effect to any reductions in the Commitments pursuant to and in accordance with Section 2.1.4); it being acknowledged and agreed that (1) at no time can the sum of the Maximum Canadian Facility Amount plus the Maximum U.S. Facility Amount plus the Maximum U.K. Facility Amount exceed the Maximum Facility Amount in effect at such time, and (2) the increase to the Maximum Canadian FacilityAmount pursuant to clause (ii)(B) above shall result in an increase of each Canadian Lender’s Canadian Revolver Commitment on a Pro Rata basis based on the amount of such increase.
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Related to Maximum Canadian Facility Amount

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Maximum Revolving Amount At any date as of which same is to be determined, the amount by which (x) $3,500,000 exceeds (y) the sum of (i) all then undrawn amounts of letters of credit issued by the Bank for the account of the Borrower plus (ii) all amounts then drawn on any such letter of credit which at said date shall not have been reimbursed to the Bank by the Borrower.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Maximum Credit means, at any time, (a) the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time minus (b) the aggregate amount of any Availability Reserve in effect at such time.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Maximum Credit Amount means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04.

  • Total Revolving Credit Outstandings means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line Loans and L/C Obligations.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Canadian Facility the credit facility available to the Canadian Borrowers and the U.S. Borrowers hereunder.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility