Maximum Revolving Advance Amount definition
Examples of Maximum Revolving Advance Amount in a sentence
The aggregate amount of the Revolving Advances (including, without limitation, Swingline Loan Advances) and the Letters of Credit outstanding at any time shall not (i) exceed the Maximum Revolving Advance Amount less the Maximum Revolving Advance Amount Reserves or (ii) except as provided in Section 2.11 with respect to Protective Advances and in Section 16.2(d) with respect to overadvances, cause Excess Availability to be less than $0.
If, for any month during the Term, the average daily unpaid balance of the Revolving Advances and Letters of Credit for each day of such month does not equal the Maximum Revolving Advance Amount, then Borrowers shall pay to Agent, for the ratable benefit of Lenders (other than any Defaulting Lenders) according to their Commitment Percentages, a fee at a rate equal to 0.25% per annum on the amount by which the Maximum Revolving Advance Amount exceeds such average daily unpaid balance.