Other Services Sublimit definition

Other Services Sublimit means the lesser of (a) the result of (i) the lesser of the Revolving Line or the Borrowing Base minus (ii) the outstanding principal balance of the Advances minus (iii) FX Reserve, or (b) $2,000,000.
Sample 1
Other Services Sublimit is an amount equal to Two Million Dollars ($2,000,000).
Sample 1
Other Services Sublimit is hereby incorporated to read as follows:
Sample 1

Examples of Other Services Sublimit in a sentence

  • The face amount of outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit and any Letter of Credit Reserve) may not exceed the Other Services Sublimit.

  • Such aggregate amounts utilized under the Other Services Sublimit will at all times reduce the amount otherwise available to be borrowed under the Committed Revolving Line.

  • Such aggregate amounts utilized under the Other Services Sublimit will at all times reduce the amount otherwise available to be borrowed under the Revolving Line.

  • Sub letter (a) under Section 2.1.1 entitled “Advances” is hereby amended to read as follows: Bank shall make Advances not exceeding (i) the lesser of (A) the Revolving Line or (B) the Borrowing Base minus (ii) the aggregate outstanding Advances hereunder minus (iii) the aggregate amounts outstanding under the Operating Line of Credit minus (iv) the outstanding Obligations under the Other Services Sublimit and minus (v) the FX Reserve.

  • If there is availability under the Other Services Sublimit, then Borrower may enter in foreign exchange forward contracts with the Bank under which Borrower commits to purchase from or sell to Bank a set amount of foreign currency more than one business day after the contract date (the “FX Forward Contract”).

  • If Borrower’s Obligations under Section 2.1.1 and the Other Services Sublimit exceed the lesser of either (i) the Committed Revolving Line or (ii) the Borrowing Base, Borrower must immediately pay in cash to Bank the excess.

  • Such aggregate amounts utilized hereunder shall at all times reduce the amount otherwise available for Advances under the Revolving Line and under the Other Services Sublimit.

  • The aggregate amount of all Financed Receivables outstanding at any time may not exceed the Facility Amount minus the outstanding Obligations under the Other Services Sublimit.

  • Borrower may use up to the Other Services Sublimit of the Revolving Line for Bank’s cash management services which may include merchant services, direct deposit of payroll, business credit card, and check cashing services identified in Bank’s various cash management services agreements (collectively, the “Cash Management Services”).

  • Bank will subtract 10% of each outstanding FX Forward Contract from the available Other Services Sublimit (the “FX Reserve”).


More Definitions of Other Services Sublimit

Other Services Sublimit is an amount equal to Seven Hundred Fifty Thousand Dollars ($750,000).
Sample 1
Other Services Sublimit is an amount up to $500,000. “Payment/Advance Form” is that certain form attached hereto as Exhibit B.
Sample 1
Other Services Sublimit means $2,000,000. The sum of (a) all amounts utilized under Cash Management Services, plus (b) the amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit), plus (c) the FX Reserve may not exceed the Other Services Sublimit.
Sample 1
Other Services Sublimit means the lesser of (a) the Facility Amount minus the outstanding principal balance of the Advances, or (b) $10,000,000; provided, however, outstanding Obligations under the Other Services Sublimit must be supported by Financed Receivables.
Sample 1

Related to Other Services Sublimit

  • L/C Sublimit has the meaning ascribed to it in Annex B.

  • Sublimit means the aggregate amount of Warehousing Advances (expressed as a dollar amount or as a percentage of the Warehousing Commitment Amount) that is permitted to be outstanding at any one time against a specific type of Eligible Loan.

  • LC Sublimit means $500,000,000.

  • Swingline Sublimit means an amount equal to the lesser of (a) $15,000,000 and (b) the Revolving Facility. The Swingline Sublimit is part of, and not in addition to, the Revolving Facility.

  • Inventory Sublimit means the amount(s) set forth in Section 1(d) of Schedule A.

  • Letter of Credit Sublimit means an amount equal to the lesser of (a) the Aggregate Revolving Commitments and (b) $25,000,000. The Letter of Credit Sublimit is part of, and not in addition to, the Aggregate Revolving Commitments.

  • Issuing Bank Sublimit means, as of the Effective Date, (i) $2,500,000, in the case of Chase and (ii) in the case of any other Issuing Bank, such amount as shall be designated to the Administrative Agent and the Borrower in writing by such Issuing Bank; provided that any Issuing Bank shall be permitted at any time to increase or reduce its Issuing Bank Sublimit upon providing five (5) days’ prior written notice thereof to the Administrative Agent and the Borrower.

  • Swing Line Sublimit means an amount equal to the lesser of (a) $25,000,000 and (b) the Aggregate Commitments. The Swing Line Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Alternative Currency Sublimit means an amount equal to the lesser of the Aggregate Commitments and $50,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the Aggregate Commitments.

  • Foreign Currency Sublimit means $25,000,000.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Total Utilization of Revolving Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (ii) the aggregate principal amount of all outstanding Swing Line Loans and (iii) the Letter of Credit Usage.

  • Maximum Line means $5,000,000, unless said amount is reduced pursuant to Section 2.6, in which event it means the amount to which said amount is reduced.

  • Swingline Facility means the swingline facility established pursuant to Section 2.2.

  • Swingline Committed Amount means the amount of the Swingline Lender’s Swingline Commitment as specified in Section 2.4(a).

  • Total Utilization of Revolving Loan Commitments means, as at any date of determination, the sum of (i) the aggregate principal amount of all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing the applicable Issuing Lender for any amount drawn under any Letter of Credit but not yet so applied) plus (ii) the aggregate principal amount of all outstanding Swing Line Loans plus (iii) the Letter of Credit Usage.

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Committed Amount shall have the meaning assigned thereto in the Pricing Side Letter.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Maximum Swingline Amount means $5,000,000.

  • Availability Block means $15,000,000.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Replacement Revolving Commitments shall have the meaning assigned to such term in Section 2.22.