New Commitment Cap definition

New Commitment Cap means an amount equal to the sum of (a) the sum of (1) $300,000,000 plus (2) to the extent not financed with long-term indebtedness, an amount equal to the voluntary prepayments of the Term Loans and, to the extent accompanied by a permanent reduction of the Revolving Credit Commitments, of the Revolving Loans, in the aggregate pursuant to this clause (a) (less any amount of Incremental Equivalent Indebtedness incurred pursuant to clause (a)(i) of the proviso to the definition thereof) plus (b) at Borrower’s option, up to an amount of New Commitments (together with any then outstanding, or concurrently incurred, Incremental Equivalent Indebtedness (assuming the borrowing of the maximum credit thereunder)) such that the First Lien Leverage Ratio (calculated on a Pro Forma Basis after giving effect to the incurrence of such Indebtedness (assuming the borrowing of the maximum credit thereunder) and the application of the proceeds therefrom) shall not exceed 3.50 to 1.00; provided that (i) Borrower may elect to utilize capacity under the foregoing clause (b) prior to utilizing capacity under the foregoing clause (a) and (ii) to the extent there is capacity under both of the foregoing clauses (a) and (b) on any date that New Commitments are established and Borrower does not make an election as to the utilization of such clauses, Borrower will be deemed to have elected to utilize the foregoing clause (b) prior to any utilization of the foregoing clause (a).
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New Commitment Cap means an amount equal to the sum of (a) the sum of (1) $300,000,000502,500,000 plus (2) to the extent not financed with long-term indebtedness, an amount equal to the voluntary prepayments of the Term Loans and, to the extent accompanied by a permanent reduction of the Revolving Credit Commitments, of the Revolving Loans, in the aggregate pursuant to this clause (a) (less any amount of Incremental Equivalent Indebtedness incurred pursuant to clause (a)(i) of the proviso to the definition thereof) plus (b) at Borrower’s option, up to an amount of New Commitments (together with any then outstanding, or concurrently incurred, Incremental Equivalent Indebtedness (assuming the borrowing of the maximum credit thereunder)) such that the First Lien Leverage Ratio (calculated on a Pro Forma Basis after giving effect to the incurrence of such Indebtedness (assuming the borrowing of the maximum credit thereunder) and the application of the proceeds therefrom) shall not exceed 4.00 to 1.00; provided that (i) Borrower may elect to utilize capacity under the foregoing clause (b) prior to utilizing capacity under the foregoing clause (a) and (ii) to the extent there is capacity under both of the foregoing clauses (a) and (b) on any date that New Commitments are established and Borrower does not make an election as to the utilization of such clauses, Borrower will be deemed to have elected to utilize the foregoing clause (b) prior to any utilization of the foregoing clause (a).
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Related to New Commitment Cap

  • Initial Commitment means, as to the Lender, its obligation to make an Initial Loan to the Borrower pursuant to Section 2.01(a) in an aggregate amount not to exceed the amount set forth opposite the Lender’s name in Schedule 1.01A under the caption “Initial Commitment”, as such amount may be adjusted from time to time in accordance with this Agreement (including Section 2.14). The initial aggregate amount of the Initial Commitments is $75,000,000.

  • Incremental Revolving Commitment has the meaning assigned to such term in Section 2.14(a).

  • Incremental Commitment means an Incremental Term Loan Commitment or an Incremental Revolving Facility Commitment.

  • Revolving Commitment Increase has the meaning set forth in Section 2.14(a).

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • L/C Commitment $50,000,000.

  • Total Revolving Commitment means the sum of the Revolving Commitments of the Lenders as the same may be decreased or increased pursuant to the terms of this Agreement. As of the Closing Date, the amount of the Total Revolving Commitment is $250,000,000.

  • Existing Commitment shall have the meaning provided in Section 2.17.

  • Term Loan Commitment Amount means, as to any Lender, the term loan commitment amount (if any) set forth below such Lender’s name on the signature page hereof (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the term loan commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement), as the same may be adjusted upon any assignment by or to such Lender pursuant to Section 16.3(c) or (d) hereof.

  • Incremental Loan Commitment shall have the meaning ascribed to such term in Section 2.22(a).

  • Incremental Revolving Commitments has the meaning specified in Section 2.14(a).

  • Aggregate Revolving Commitment means, at any time, the aggregate of the Revolving Commitments of all of the Lenders, as increased or reduced from time to time pursuant to the terms and conditions hereof. As of the Effective Date, the Aggregate Revolving Commitment is $60,000,000.

  • Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

  • Term Loan A Commitment means, with respect to each Lender, its Term Loan A Commitment, and, with respect to all Lenders, their Term Loan A Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Term Loan Commitment is, for any Lender, the obligation of such Lender to make a Term Loan, up to the principal amount shown on Schedule 1.1. “Term Loan Commitments” means the aggregate amount of such commitments of all Lenders.

  • 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.

  • Revolving Commitment Increase Lender has the meaning specified in Section 2.14(a).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Incremental Term Loan Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain term loans to one or more Borrowers.

  • Term A Commitment means, as to each Term A Lender, its obligation to make Term A Loans to the Borrower pursuant to Section 2.01(a) in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Term A Lender’s name on Schedule 2.01 under the caption “Term A Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Term A Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.