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.

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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 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 for any reason the aggregate amount of Revolving Loans exceeds the Maximum Revolving Loan Balance then in effect, the Borrower shall immediately prepay Revolving Loans, Swing Loans and funded amounts under Letters of Credit, and thereafter cash collateralize any unfunded Letter of Credit Obligations, in an aggregate amount determined in accordance with Section 7.5.

• 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.

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)(i) “Maximum Lawful Rate” 1.3(d) “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. (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)

Maximum Revolving Loan Balance at any time shall equal the Aggregate Revolving Loan Commitment then in effect, less the aggregate amount of Letter of Credit Obligations. If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving Loan Balance, then the Borrower shall, no later than the Business Day following written notice thereof by the Agent or Required Revolving Lenders (provided that if such notice is received after 3:00 p.m.(New York time) on any such day, the Borrower shall make such prepayment no later than the second Business Day after such notice is received), prepay outstanding Revolving Loans in an amount sufficient to eliminate such excess. No Revolving Loans may be drawn on the Closing Date except for Permitted Closing Date Revolving Extensions of Credit. Revolving Loans may be Base Rate Loans or LIBOR Rate Loans, in each case as provided herein.