Outstanding Loan Threshold Date definition
Outstanding Loan Threshold Date means the date that both (i) the outstanding principal amount of, without duplication, term Loans and unused commitments under the Existing Credit Facility (or the aggregate outstanding principal amount of all loans or other evidences of indebtedness, issued and outstanding letters of credit and commitments in respect thereof under any replacement Credit Facility designated as such in accordance with the provisions of the Collateral Trust Agreement) is less than 15% of the aggregate outstanding principal amount of all Priority Lien Debt and (ii) the aggregate outstanding principal amount of another Series of Priority Lien Debt exceeds the outstanding principal amount of, without duplication, term Loans and commitments under the Existing Credit Facility.
Outstanding Loan Threshold Date means the earlier of (x) the date on which the outstanding principal amount of Loans and Commitments (each as defined in the Credit Agreement) under the Credit Agreement (and any replacement thereof) is less than $25,000,000 and (y) the date on which the outstanding principal amount of another tranche of First Lien Obligations exceeds the principal amount of Loans and Commitments under the Credit Agreement.
Outstanding Loan Threshold Date means the date that both (x) the outstanding principal amount of, without duplication, Loans, L/C Obligations and unused Revolving Loan Commitments (each as defined in the Credit Agreement) under the Credit Agreement (or the aggregate outstanding principal amount of all loans or other evidences of indebtedness, issued and outstanding letters of credit and commitments in respect thereof under any replacement Credit Agreement designated as such in accordance with Section 3.8) is less than 15% of the aggregate outstanding principal amount of all Priority Lien Debt and (y) the aggregate outstanding principal amount of another Series of Priority Lien Debt exceeds the outstanding principal amount of, without duplication, Loans. L/C Obligations and unused Revolving Loan Commitments under the Credit Agreement.
More Definitions of Outstanding Loan Threshold Date
Outstanding Loan Threshold Date means the date that both (i) the outstanding principal amount of, without duplication, term loans and unused commitments under the New Credit Facility (or the aggregate outstanding principal amount of all loans or other evidences of indebtedness, issued and outstanding letters of credit and commitments in respect thereof under any replacement Credit Facility designated as such in accordance with the provisions of the Collateral Trust Agreement) is less than 15% of the aggregate outstanding principal amount of all Priority Lien Debt and (ii) the aggregate outstanding principal amount of another Series of Priority Lien Debt exceeds the outstanding principal amount of, without duplication, term loans and commitments under the New Credit Facility.