Maximum Senior Debt Amount definition

Maximum Senior Debt Amount means, as of any date of determination the sum of (i) the most recently established Borrowing Base under the Initial Credit Agreement, plus (ii) the principal amount of any Borrowing Base Deficiency; provided that the amount set forth in clause (ii) shall not include (A) any additional amounts in respect of principal to the extent such excess is the result of additional Loans advanced or letters of credit issued (other than renewal of outstanding letters of credit in amounts not exceeding the outstanding face amounts) while a Borrowing Base Deficiency is in effect or (B) any Loans or letters of credit to the extent advancing such funds or issuing such letter of credit (other than renewal of outstanding letters of credit in amounts not exceeding the outstanding face amounts) would cause a Borrowing Base Deficiency.

Maximum Senior Debt Amount has the meaning set forth in the Intercreditor Agreement.

Maximum Senior Debt Amount means at any time of calculation (A) the Maximum Senior Credit Commitment, plus (B) the aggregate of any accrued and unpaid interest, fees, attorneys' fees, costs, charges, and expenses, payable under the Senior Loan Documents or in respect thereof; plus (C) Protective Advances, plus (D) the aggregate amount of Bank Product Obligations.

Examples of Maximum Senior Debt Amount in a sentence

• Notwithstanding the foregoing, in no event shall the aggregate principal amount of all Senior Obligations exceed the Maximum Senior Debt Amount (as defined in Section 1.5).

• Notwithstanding the foregoing, in no event shall the aggregate principal amount of all Senior Obligations exceed the Maximum Senior Debt Amount (as defined in Section 1.5 above).

• All Subordinated Debt is and shall be subordinate and junior in right of payment to all Senior Debt to the extent provided in this Section 8 and nothing in this Section 8 or in the definition of Maximum Senior Debt Amount shall be construed as a limit on the extent of the secured claim of the Senior Lenders.

• The Obligors, for themselves, their successors and assigns, covenant and agree, and the Purchasers, by their acceptance thereof likewise covenant and agree that the payment of the Note Obligations is hereby expressly subordinated, to the extent and in the manner hereinafter set forth, to the prior payment in full in cash of the Senior Indebtedness; provided, however, that the Senior Indebtedness does not exceed the Maximum Senior Debt Amount.

• The Second Amended and Restated Credit and Security Agreement (i) permits the transactions contemplated herein and in the Note Documents, (ii) provides for no more than the Maximum Senior Debt Amount of which at least $5 million is undrawn availability on the date hereof, (iii) includes a maturity date of January 31, 2002, and (iv) conforms certain provisions in accordance with Intercreditor Agreement.

More Definitions of Maximum Senior Debt Amount

Maximum Senior Debt Amount means Ninety-Three Million Five Hundred Thousand and No/100 Dollars ($93,500,000.00), in each case less the amount of (i) any principal repayments in respect of term loans and (ii) any principal repayments in respect of revolving loans, to the extent such payments cannot be reborrowed as a result of a commitment reduction (specifically excluding any such repayments and commitment reductions in connection with a refinancing). It is understood and agreed that funded extensions of credit by the Senior Lenders under the Senior Credit Agreement (excluding any Swap obligations and/or any Bank Product obligations) in excess of Ninety-Three Million Five Hundred Thousand and 00/100 Dollars ($93,500,000.00) made without the prior written consent of the Subordinated Agent shall not qualify as, and shall not be treated as, Senior Indebtedness for the purposes of the Subordination Agreement.

Maximum Senior Debt Amount means the result of (a) Thirty Million Dollars ($30,000,000) principal amount of Senior Debt minus, on a dollar-for-dollar basis, any and all amounts of principal repaid by the Company or any other Person on the Installment Notes, plus (b) up to Three Million Dollars ($3,000,000) in interest, fees and expenses relating to such Senior Debt. MERGER -- means the merger of Acquisition Co. with and into the Company. MERGER AGREEMENT -- means that certain Agreement and Plan of Merger dated as of July 19, 1995 between Acquisition Co. and the Company. MERGER DOCUMENTS -- means the Merger Agreement, together with the certificates of ownership and merger filed with the Delaware Secretary of State to effectuate the Merger and the other documents, certificates and agreements delivered in connection with the Merger Agreement. MERGER EFFECTIVE TIME -- means the time of effectiveness of the Merger.

Maximum Senior Debt Amount and “Senior Debt” are each used in this Section 5.1(j) as defined in the WFF Subordination Agreement (as the WFF Subordination Agreement is in effect on the Closing Date, and as the WFF Subordination Agreement may from time to time hereafter be amended, supplemented or otherwise modified so long as Borrower has received notice of, or otherwise is aware of, such amendment, supplement or modification).

Maximum Senior Debt Amount means the sum of (a) the difference of (i) Eighty-Five Million Dollars ($85,000,000) principal amount of Senior Debt MINUS (ii) on a dollar-for dollar basis, any and all amounts of principal repaid by the Company or any other Person on the Term 1 Advances or Term 2 Advances PLUS (b) up to Eight Million Five Hundred Thousand Dollars ($8,500,000) in interest, fees, rate hedging obligations, expenses and other obligations owing to the Agent or the Senior Lenders in connection with the Senior Financing Documents."

Maximum Senior Debt Amount means, at any time, the product of:

Maximum Senior Debt Amount has the meaning provided in Section 7.03(a).

Maximum Senior Debt Amount set forth in Appendix I to the NPA is hereby amended by (i) replacing the “$90,000,000” set forth in clause (a) thereof with: “the sum of (i) $90,000,000 plus (ii) the original principal amount of the Incremental Term Loan” and (ii) replacing the “$9,000,000” set forth in clause (b) thereof with: “$5,000,000”.