Maximum Revolving Loan Limit definition

Maximum Revolving Loan Limit shall have the meaning specified in subsection 2(a) hereof.

Maximum Revolving Loan Limit shall have the meaning specified in SUBSECTION 2(a) hereof.

Maximum Revolving Loan Limit means the total of all advances outstanding at any one time under the Revolving Loan and the SOFA Revolving Loan, which at no time, in the aggregate, shall exceed Twenty Two Million Five Hundred Thousand and No/100 Dollars ($22,500,000).

Examples of Maximum Revolving Loan Limit in a sentence

• The aggregate unpaid principal balance of the Revolving Loans shall not at any time exceed the lesser of the (i) Revolving Loan Limit minus the Letter of Credit Obligations and (ii) the Maximum Revolving Loan Limit minus the Letter of Credit Obligations.

• Without limitation to any of its default rights and remedies, Lender may elect to continue to make the Revolving Loans with such a reduced Maximum Revolving Loan Limit and with such reductions in the percentages set forth in the definition of Borrowing Base as Lender determines to be in the interest of Lender.

• The aggregate unpaid principal balance of the Revolving Loans shall not at any time exceed the lesser of the (x) Revolving Borrowing Base Amount and (y) the Maximum Revolving Loan Limit.

• Notwithstanding the foregoing, the advance rates, sublimits and Maximum Revolving Loan Limit may be adjusted up or down by Lender in its sole discretion, exercised in good faith, on an annual basis based on the results of Lender’s audits of the Borrowers or at any time following the occurrence of an Event of Default.

• The aggregate unpaid principal balance of the Revolving Loans (including the Dollar Equivalent of all Loans made in Euros or Pounds Sterling) shall not at any time exceed the lesser of the (i) Revolving Loan Limit minus the Letter of Credit Obligations and (ii) the Maximum Revolving Loan Limit minus the Letter of Credit Obligations.

More Definitions of Maximum Revolving Loan Limit

Maximum Revolving Loan Limit means, with respect to each requested advance of Revolving Loans, the lesser of (a) the Applicable Revolving Loan Advance Limit (as calculated pursuant to the Borrowing Base Certificate delivered to the Agent on the date of borrowing of such advance and calculating the Applicable Revolving Loan Advance Limit no earlier than one (1) Business Day prior to the date of such borrowing) then in effect and (b) the Aggregate Revolving Loan Commitment as of such date.

Maximum Revolving Loan Limit means $7,000,000.00.

Maximum Revolving Loan Limit means Eight Million Five Hundred Thousand Dollars $8,500,000.00).”

Maximum Revolving Loan Limit shall have the meaning specified in subsection 2(a) hereof as such amount may be decreased from time to time in accordance with the terms of this Agreement.

Maximum Revolving Loan Limit set forth in Section 1(a) of the Loan Agreement shall be and is hereby amended to read, in its entirety, as follows: ""Maximum Revolving Loan Limit" shall mean $6,000,000." Even though the Revolving Loan Note made by Borrowers to Lender is for the face amount of $10,000,000, the Revolving Loan Limit and Maximum Revolving Loan Limit shall not exceed $6,000,000.

Maximum Revolving Loan Limit in Section 1 of the Loan Agreement is amended and restated in its entirety as follows:

Maximum Revolving Loan Limit means $1,250,000.”