Maximum Revolving Insolvency Amount definition

Maximum Revolving Insolvency Amount means an amount equal to the sum of (a) the result of (i) the Revolving Borrowing Base (calculated without giving effect to any FILO Deficiency Reserve), plus (ii) the FILO Borrowing Base, minus (iii) the sum of (x) the amount of Availability required to be maintained by the Borrower pursuant to Section 7.11, and (y) the Total FILO Outstandings, plus (b) without duplication, Permitted Overadvances and/or Protective Advances that satisfy the requirements contained in clauses (a)(i), (a)(ii) and (b) of each such definition (subject to the aggregate caps set forth in clause (b) of each such definition), plus (c) in addition to the Permitted Overadvances and Protective Advances described in clause (b) above, without duplication, Permitted Overadvances and/or Protective Advances in an aggregate amount up to the sum of (x) an amount up to the aggregate amount equal to payroll of the Loan Parties and their Subsidiaries for a two-week period, (y) an additional amount not to exceed $1,500,000 solely to the extent used to fund payroll of the Loan Parties and (z) an amount equal to one months’ rent and charges at all of the Loan Parties’ leased distribution centers and third party warehouse and bailee locations, plus (d) all then outstanding Unintentional Overadvances, plus (e) the Insolvency Increase Amount, plus (f) Revolving Credit Loans (including loans made pursuant to a DIP Financing that is a Conforming DIP) to fund the Carve Out; provided that the agent under such DIP Financing shall implement, and maintain, at all times, a borrowing base reserve in the full amount of the applicable Carve Out (as calculated from time to time during such proceeding).
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Maximum Revolving Insolvency Amount means an amount equal to the sum of (a) the Borrowing Base, plus (b) Protective Advances (subject to the aggregate cap thereon in the definition of “Protective Advances”), plus (c) in addition to the Protective Advances described in the foregoing clause (b), Protective Advances (without regard to the aggregate cap thereon in the definition of “Protective Advances”) in an aggregate amount equal to the sum of (i) the aggregate amount required to fund payroll of the Loan Parties and their Subsidiaries for a two-week period and (ii) rent and charges at the Loan Parties’ distribution centers and warehouses for a one-month period, plus (d) all then outstanding Unintentional Overadvances, plus (e) the Insolvency Increase Amount, plus (f) the amount of Revolving Loans (including loans made pursuant to a Post-Petition Financing that is a Conforming Post-Petition Financing) to fund the Carve Out.
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Maximum Revolving Insolvency Amount has the meaning provided therefor in Section 7.05(d). “Measurement Period” means, at any date of determination, the most recently completed twelve Fiscal Months of the Parent. “Minority Lenders” has the meaning provided therefor in Section 9.02(c). “MLPFS” means Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated. “Moody’s” means Xxxxx’x Investors Service, Inc. “Mortgage” means a fee and leasehold mortgage or deed of trust, security agreement and assignment by and between the Loan Party owning or holding the leasehold interest in the Real Estate encumbered thereby in favor of the Collateral Agent. “Mortgage Policy” means a fully paid American Land Title Association Lender’s Extended Coverage title insurance policy or marked-up title insurance commitment having the effect of a policy of title insurance) in form and substance, with the endorsements reasonably 33
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More Definitions of Maximum Revolving Insolvency Amount

Maximum Revolving Insolvency Amount means the sum of (i) (A) the Borrowing Base minus (B) the minimum Availability required to be maintained under Section 7.15, plus (ii) Permitted Overadvances that satisfy the requirements contained in clauses (a) and (b) of the definition thereof (subject to the limitations set forth in clause (b) of such definition), plus (iii) in addition to the Permitted Overadvances described in clause (ii), Permitted Overadvances that satisfy the requirements contained in clause (a) of the definition thereof to fund payroll (and any associated payroll taxes) in an amount not to exceed the aggregate amount required (and actually used) to fund (A) payroll requests of the Loan Parties for a two-week period and (B) rent at the Loan Parties’ distribution centers and warehouses for a one (1) month period, plus (iv) after the commencement of any proceeding with respect to any Debtor Relief Laws, an amount not to exceed the result of (1) five percent (5.00%) of the Borrowing Base minus (2) the then outstanding amount of any Permitted Overadvances; provided that the amount set forth in this clause (iv) shall not be less than zero, plus (v) the amount of all Unintentional Overadvances.
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Maximum Revolving Insolvency Amount means the sum of (i) (A) the Borrowing Base plus (B) the FILO Borrowing Base plus (C) the ABL Term Borrowing Base, minus (D) the minimum Availability required to be maintained under SECTION 6.10 minus (E) the then outstanding principal amount of the ABL Term Obligations, plus (ii) Permitted Overadvances that satisfy the requirements contained in clauses (a) and (b) of the definition thereof (subject to the limitations set forth in clause (b) of such definition), plus (iii) in addition to the Permitted Overadvances described in clause (ii), Permitted Overadvances that satisfy the requirements contained in clause (a) of the definition thereof to fund (A) payroll in an amount not to exceed the aggregate amount required (and actually used) to fund payroll requests of the Loan Parties for a two-week period and (B) rent at the Loan Parties’ distribution centers and warehouses for a one-month period, plus (iv) after the commencement of any proceeding with respect to the Bankruptcy Code, BIA, WURA, CCAA or any state, federal or provincial bankruptcy, insolvency, receivership or similar law, an amount not to exceed the result of (1) five percent (5.0%) of the sum of the Borrowing Base and the FILO Borrowing Base minus (2) the then outstanding amount of any Permitted Overadvances; provided that the amount set forth in this clause (iv) shall not be less than zero, plus (v) the amount of all Inadvertent Overadvances.
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Related to Maximum Revolving Insolvency Amount

  • 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 $25,000,000.

  • 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 Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Maximum Revolving Credit Amount means, at any particular time, the Revolving Credit Commitments at such time.

  • Maximum Swingline Amount means $5,000,000.

  • 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.

  • Aggregate Revolving Committed Amount means the aggregate amount of Commitments in effect from time to time, being initially One Hundred Fifty Million Dollars ($150,000,000) (as such amount may be increased as provided in Section 2.5 or reduced as provided in Section 2.9 from time to time).

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

  • 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.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • 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(b).

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

  • Priority Amount As to any Distribution Date, the amount equal to the sum of (i) the product of (A) the Scheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage and (ii) the product of (A) the Unscheduled Principal Distribution Amount, (B) the Shift Percentage and (C) the Priority Percentage.

  • 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.

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • LOC Committed Amount shall have the meaning set forth in Section 2.3(a).

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Aggregate Revolving Commitment means the aggregate of the Revolving Commitments of all of the Revolving Lenders, as reduced or increased from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $1,000,000,000.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.