Maximum Revolving Credit definition

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

Maximum Revolving Credit. Amount shall mean, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Revolving Credit Amounts” (as the same may be reduced pursuant to Section 2.03(b) pro rata to each Lender based on its Percentage Share), as modified from time to time to reflect any assignments permitted by Section 12.05

Maximum Revolving Credit means as of any date, the lesser of (i) the Revolving Credit Commitment, or (ii) the Borrowing Base.

Examples of Maximum Revolving Credit in a sentence

• In addition, upon the effective date of any such termination, the Maximum Revolving Credit Loan Commitment shall be reduced to ZERO AND NO/100ths Dollars ($0.00) and the Commitment of each Lender shall be reduced to ZERO AND NO/100ths Dollars ($0.00).

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• The Administrative Agent shall have received duly executed Revolving Credit Notes payable to each Lender (including each New Lender) requesting a Revolving Credit Note in principal amounts equal to its Maximum Revolving Credit Amount (as amended hereby), dated as of the Fifth Amendment Effective Date.

• Business must have been in business for more than one year prior to February 1, 2020.

• Borrower’s obligation to repay Advances and other extensions of credit under the Revolving Credit Facility shall be further evidenced by a promissory note executed and delivered by Borrower in the face amount of the Maximum Revolving Credit Facility Amount payable to the order of Bank (the “Revolver Note”), which shall be in form and content acceptable to Bank.

More Definitions of Maximum Revolving Credit

Maximum Revolving Credit. Amount shall mean, as to each Lender, the dollar amount of such Lender’s Percentage Share of the Aggregate Maximum Revolving Credit Amount (as the same may be reduced pursuant to Section 2.03(d) pro rata to each Lender based on its Percentage Share), as modified from time to time to reflect any assignments permitted by Section 12.06(b). Mortgage shall mean any one of the mortgages listed on Exhibit D hereto, and Mortgages means all of them. Mortgaged Property shall mean the Property owned by the Obligors and which is subject to the Liens existing and to exist under the terms of the Security Instruments. Multiemployer Plan shall mean a Plan defined as such in Section 3(37) or 4001(a)(3) of ERISA. Notes shall mean the Notes provided for by Section 2.06, together with any and all renewals, extensions for any period, increases, rearrangements, substitutions or modifications thereof. Oil and Gas Properties shall mean Hydrocarbon Interests; the Properties now or hereafter pooled or unitized with Hydrocarbon Interests; all presently existing or future unitization, pooling agreements and declarations of pooled units and the units created thereby (including without limitation all units created under orders, regulations and rules of any Governmental Authority) which may affect all or any portion of the Hydrocarbon Interests; all operating agreements, contracts and other agreements which relate to any of the Hydrocarbon Interests or the production, sale, purchase, exchange or processing of Hydrocarbons from or attributable to such Hydrocarbon Interests; all Hydrocarbons in and under and which may be produced and saved or attributable to the Hydrocarbon Interests, including all oil in tanks, the lands covered thereby and all rents, issues, profits, proceeds, products, revenues and other incomes from or attributable to the Hydrocarbon Interests; all tenements, hereditaments, appurtenances and Properties in any manner appertaining, belonging, affixed or incidental to the Hydrocarbon Interests; and all Properties, rights, titles, interests and estates described or referred to above, including any and all Property, real or personal, now owned or hereinafter acquired and situated upon, used, held for use or useful in connection with the operating, working or development of any of such Hydrocarbon Interests or Property (excluding drilling rigs, automotive equipment or other personal property which may be on such premises for the purpose of drilling a well or for other simil...

Maximum Revolving Credit means the amount of $200,000,000 as reduced from time to time pursuant to the terms of Section 2.3 hereof.

Maximum Revolving Credit is set forth in Section 10.1(a) hereof.

Maximum Revolving Credit. Facility" in Section 1.1 of the Loan Agreement is amended to read, in its entirety, as follows:

Maximum Revolving Credit means $4,000,000.

Maximum Revolving Credit. At any time and from time to time, an amount equal to the lesser of (i) Twenty Million Dollars ($20,000,000) or (ii) the Borrowing Base at such time.

Maximum Revolving Credit means, on any date, an amount equal to $74,000,000, minus the amount of the Revolving Loans and Letter of Credit Accommodations outstanding under the Pre-Petition Loan Agreement on such date.