Operating Facility definition

Operating Facility means the loan facility of Western which consists of a committed operating facility in the amount of $10 million;

Operating Facility means a gas station actively selling fuel to the public, a fleet fueling facility used to actively fuel fleet vehicles, or a facility where emergency power generators are being used. “Operating facility” does not include any other type of facility, such as a car wash or other business that does not routinely sell fuel to the public, or is not routinely used for fleet fueling, or is not routinely used for emergency power generation. A facility that has not been used to sell fuel to the public, or fuel fleet vehicles, or power emergency generators for a period of 12 months or more is not considered an “operating facility.”

Examples of Operating Facility in a sentence

A Letter of Credit issued hereunder shall be issued by the Operating Lender under the Operating Facility.
The Agent (and, with respect to the Operating Facility, the Operating Lender) shall open and maintain books of account or electronically stored records evidencing all Loans and all other amounts owing by the Borrower to the Lenders hereunder.
The issuance of Letters of Credit shall constitute Drawdowns or Rollovers (as applicable) hereunder and shall reduce the availability of the Operating Facility by the aggregate Outstanding Principal of Letters of Credit under the Operating Facility.
After a request by the Borrower, the Agent (or, with respect to the Operating Facility, the Operating Lender) shall promptly advise the Borrower of such entries made in the Agent's or the Operating Xxxxxx's (as the case may be) books of account or electronically stored records.
In addition, the Borrower may make Drawdowns and Rollovers under the Operating Facility of Letters of Credit denominated in Canadian Dollars or United States Dollars.

Operating Facility means the Credit Facility described in Section 2.1(a) of this Agreement.

Operating Facility has the meaning specified in Section 2.1.1(a).

Operating Facility means the revolving operating facility established from time-to-time in favour of the Borrower by the Operating Lender pursuant to Section 3.1(b).

Operating Facility means either of such credit facilities.

Operating Facility means any facility or financial accommodation (including, without limitation, any overdraft or other current account facility, any foreign exchange facility, any guarantee, bonding, documentary or standby letter of credit facility, any credit card or automated payments facility, any short term loan facility and any derivatives facility) provided to a member of the Group by an Operating Facility Lender which is notified to the Security Agent by the Parent in writing as a facility or financial accommodation to be treated as an “Operating Facility” for the purposes of this Agreement.

Operating Facility means the operating credit facility established by Section 2.1(a)(ii);

Operating Facility means any facility or financial accommodation (including, without limitation, any overdraft or other current account facility, any foreign exchange facility, any guarantee, bonding, documentary or standby letter of credit facility, any credit card or automated payments facility, any short-term loan facility, any derivatives facility, any cash pooling arrangement or other cash management arrangement, chequing or note encashment facility) provided to a member of the Group by an Operating Facility Lender which is notified to the Security Agent by the Parent in writing as a facility or financial accommodation to be treated as an "Operating Facility" for the purposes of this Agreement. A44420063