Maximum Revolving Loan Balance definition

Maximum Revolving Loan Balance means, from time to time the Aggregate Revolving Loan Commitment then in effect less the aggregate amount of Letter of Credit Obligations.

Maximum Revolving Loan Balance has the meaning set forth in Section 2.1(b).

Maximum Revolving Loan Balance from time to time will be (i) the Aggregate Revolving Loan Commitment then in effect, less (ii) the aggregate amount of Letter of Credit Obligations, less (iii) the aggregate principal amount of outstanding Swing Loans. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

Examples of Maximum Revolving Loan Balance in a sentence

• If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

• If, at any time, the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

• If at any time the then aggregate outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

• If at any time the outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess.

• Each Loan Party agrees to reimburse Agent, on demand, for all costs and expenses incurred by Agent in connection with such payment or performance and agrees that such amounts shall constitute Obligations and authorizes Agent and each Revolving Lender to make a Revolving Loan to pay all such amounts, even if the result thereof would cause the outstanding principal balance of the Revolving Loans to exceed the Maximum Revolving Loan Balance at such time.

More Definitions of Maximum Revolving Loan Balance

Maximum Revolving Loan Balance. Section 2.1(b)

Maximum Revolving Loan Balance from time to time will be the lesser of:

Maximum Revolving Loan Balance. 1.1(b) “MNPI” 9.10(a)

Maximum Revolving Loan Balance means (a) the Maximum Availability minus (b) the sum of (i) the aggregate amount of Letter of Credit Obligations and (ii) the aggregate outstanding principal amount of the Swing Loans.

Maximum Revolving Loan Balance means the sum of the Maximum Original Revolving Loan Balance and the Maximum LIFO Revolving Loan Balance.

Maximum Revolving Loan Balance for each Borrower Group from time to time will be the least of:

Maximum Revolving Loan Balance. (i) “MNPI” 9.10(a) “New CF&I” Preamble “Notice of Conversion/Continuation” 1.6(a) “OFAC” 3.30 “OSM Distribution” Preamble “OSM Processing” Preamble “Other Lender” 1.11(e)(i) “Other Taxes” 10.1(c) “Overadvance” 1.1(b)(iv) “Permitted Liens” 5.1 “Proposed Action” 8.13(c)