Examples of Maximum Revolving Facility Amount in a sentence
Notwithstanding the foregoing, (i) the aggregate amount of all Protective Advances outstanding at any time shall not exceed an amount equal to ten percent (10%) of the Maximum Revolving Facility Amount and (ii) after giving effect to any such Protective Advances, the outstanding balance of all Revolving Loans will not exceed the Maximum Revolving Facility Amount.
The authority of Agent to make Overadvances is limited to an aggregate amount not to exceed an amount equal to ten percent (10%) of the Maximum Revolving Facility Amount at any time.
If at any time for any reason whatsoever (including as a result of currency fluctuations) (i) the outstanding balance of all Revolving Loans exceeds the lesser of (x) the Maximum Revolving Facility Amount minus Reserves established against the Maximum Revolving Facility Amount and (y) the Borrowing Base or (ii) any of the Loan Limits for Revolving Loans are exceeded, then, in each case, Borrowers will immediately pay to Agent such amounts as shall cause Borrowers to eliminate such excess.
Each reduction (i) shall be in a minimum amount of $2,500,000, (ii) shall not reduce the Maximum Revolving Facility Amount and the Revolving Loan Commitments to an amount less than the aggregate principal amount of Revolving Loans outstanding at such time (unless accompanied by a corresponding prepayment of such outstanding Revolving Loans), and (iii) shall not reduce the Maximum Revolving Facility Amount and the Revolving Loan Commitments to an amount less than $10,000,000.
Lender may, with or without notice to Borrowing Agent, from time to time establish and revise reserves against the Borrowing Base and/or the Maximum Revolving Facility Amount in such amounts and of such types as Lender deems appropriate in its Permitted Discretion (“Reserves”).