Maximum Facility Commitment definition

Maximum Facility Commitment has the meaning assigned to such term in the Initial Liquidity Facility.

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Maximum Facility Commitment means initially $12,334,298 and, at any time thereafter, an amount (not exceeding such initial amount) equal to nine months of interest at the Stated Rate (but not including any Step-Up Interest) on the actual Outstanding Principal Balance of the Specified Series as of the most recent Payment Date after all payments of principal on such Payment Date.

Maximum Facility Commitment means initially $32,800,000 and, at any time thereafter, an amount (not exceeding such initial amount) equal to 12 months of interest at the Stated Rate (but not including any Step-Up Interest) on the actual Outstanding Principal Balance of the Specified Series as of the most recent Payment Date after all payments of principal on such Payment Date. “Non-Extension Advance” means an Advance made pursuant to Section 2.02(b). “Non-Extended Facility” means the facility provided for in this Agreement after the delivery of a Non-Extension Notice pursuant to Section 2.10. “Notice of Borrowing” has the meaning specified in Section 2.02(e).

Examples of Maximum Facility Commitment in a sentence

Upon the making of a Downgrade Advance, a Non-Extension Advance or a Final Advance hereunder or the occurrence of the Termination Date, the obligation of the Liquidity Facility Provider to make further Advances hereunder with respect to the Maximum Facility Commitment shall automatically and irrevocably terminate, and the Cash Manager (on behalf of the Borrower) shall not be entitled to request any further Borrowing hereunder with respect to the Maximum Facility Commitment.
Notwithstanding the foregoing, no such reduction of a Maximum Facility Commitment Amount for an existing Revolving Facility shall be permitted if, after giving effect thereto, the aggregate principal amount outstanding of Committed Loans under such Revolving Facility, together with the LC Exposure thereunder, plus the aggregate principal amount outstanding of Competitive Loans to the applicable Borrower would exceed the Maximum Facility Commitment Amount for such Revolving Facility.
Upon the making of a Downgrade Advance, a Non-Extension Advance or a Final Advance hereunder or the occurrence of the Termination Date, the obligation of the Initial Liquidity Facility Provider to make further Advances hereunder with respect to the Maximum Facility Commitment shall automatically and irrevocably terminate, and the Administrative Agent (on behalf of the Borrower) shall not be entitled to request any further Borrowing hereunder with respect to the Maximum Facility Commitment.
Thereupon, the Maximum Facility Commitment Amount of the subject Borrower shall be so increased and, subject to the fulfillment of the conditions set forth in Section 3.02 and elsewhere in this Agreement, the subject Borrower shall be entitled to make Committed Loan borrowings up to the newly-increased Maximum Facility Commitment Amount.
After such reduction, the Maximum Facility Commitment will not be less than the Advances Outstanding after giving effect to, and conditioned upon, the repayment of Advances set forth in the attached notice.
The Borrower hereby irrevocably notifies the Lender and the Deal Agent pursuant to Section 2.03(a) of the Funding Agreement that on __________________, 199_ (which is a Business Day at least five (5) days after the date this notice is given) the Maximum Facility Commitment shall be reduced to $______________.
With respect to the newly-reduced Maximum Facility Commitment Amount for the Revolving Facility in question, it is specifically understood that such reduced Maximum Facility Commitment Amount may not thereafter be increased except in accordance with the provisions of Section 2.04(b) above.
The Agent shall notify each of the Banks promptly upon its acceptance of the Maximum Facility Commitment Addendum as provided for herein.
The Borrower hereby irrevocably notifies the Lender and the Deal Agent pursuant to Section 2.03(a) of the Funding Agreement that on _________________, 199_ (which is a Business Day at least five (5) days after the date this notice is given) the Maximum Facility Commitment shall be terminated.
It is specifically understood and agreed that once the Maximum Facility Commitment Amount of a Revolving Facility is reduced as set forth in this Section 2.04(c), the same may not be increased thereafter except in accordance with the provisions of Section 2.04(b) above and, in the case of the ▇▇▇▇▇▇▇ Revolving Facility, the provisions of Section 2.04(e) below.

More Definitions of Maximum Facility Commitment

Maximum Facility Commitment means Seventy Five Million Dollars ($75,000,000.00).

Maximum Facility Commitment means $60,000,000.