Overadvance Sublimit definition

Overadvance Sublimit means, from the period beginning on April 1 and ending on July 31 of each calendar year during the term of this Agreement, the amount of Five Hundred Thousand Dollars ($500,000), which amount shall be automatically reduced each week by the amount of One Hundred Thousand Dollars ($100,000) on August 1 of such calendar year and on each corresponding day of each following week thereafter, until reduced to zero (-0-).
Sample 1Sample 2
Overadvance Sublimit means, at any time from and including the Restatement Effective Date and at all times thereafter, $10,000,000.
Sample 1Sample 2
Overadvance Sublimit means, on May 11, 2006, the amount of $500,000, which amount shall be automatically and permanently reduced on each Business Day, beginning on July 11, 2006, by the sum of $12,500.00, until reduced to zero (-0-).
Sample 1

Examples of Overadvance Sublimit in a sentence

  • If following such determination, the outstanding principal amount of the Obligations exceeds the amount of the Financed Receivables multiplied by the Advance Rate, such excess shall constitute Overadvances hereunder and, to the extent such Overadvances exceed the Overadvance Sublimit, Borrower irrevocably authorizes Bank to debit any account of Borrower maintained by Borrower with Bank or any of Bank’s Affiliates for the amount of such excess over the Overadvance Sublimit.

  • In addition, the aggregate amount of all Purchase Order Advances outstanding at any time may not exceed the Purchase Order Sublimit and the aggregate amount of all Overadvances outstanding at any time may not exceed the Overadvance Sublimit.

  • Notwithstanding anything contained in this Agreement to the contrary, any such permanent reduction shall first reduce the Overadvance Sublimit in effect from time to time and, upon reduction of the Overadvance Sublimit to zero (upon which the Overadvance Sublimit shall be deemed to have been terminated), shall then be applied to reduce the Revolving Loan Sublimit.

  • The Borrower may from time to time on at least five Business Days' -------- prior written notice received by the Bank permanently reduce the amount of the Revolving Loan Commitment but only upon repayment of the amount, if any, by which the aggregate unpaid principal balance of the Revolving Loans exceeds the then reduced amount of the Revolving Loan Sublimit or the Overadvance Sublimit, as applicable.

  • Bank hereby agrees to make advances up to the Overadvance Sublimit (each such advance, an “Overadvance”), notwithstanding that any of the other applicable conditions precedent set forth in Section 3.2 hereof have not been satisfied, to the extent of a monetary amount not to exceed the Overadvance Sublimit.

  • The aggregate principal amount of the Obligations does not exceed the sum of (a) the product of the face amount of the Financed Receivables multiplied by the applicable Advance Rate plus (b) the Overadvance Sublimit.

  • Any such reduction shall be in an aggregate amount of $1,000,000 or an integral multiple thereof, except to the extent the outstanding Overadvance Sublimit shall be less than $1,000,000, in which case the Borrower may terminate such remaining amount upon repayment of the aggregate unpaid principal balance of the Overadvance.


More Definitions of Overadvance Sublimit

Overadvance Sublimit is Five Hundred Thousand Dollars ($500,000).
Sample 1
Overadvance Sublimit means (i) $2,000,000 from the Closing Date through -------------------- Xxxxx 00, 0000, (xx) $1,500,000 from April 1, 1999 through June 30, 1999, (iii) $1,000,000 from July 1, 1999 through September 30, 1999, (iv) $500,000 from October 1, 1999 through December 31, 1999 and (v) $0 thereafter, or such lesser amounts as the Borrower may request pursuant to Section 6.1. -----------
Sample 1
Overadvance Sublimit means (i) from the period beginning on the date of the Fourth Amendment and ending on (and including) the date that is one hundred twenty (120) days thereafter, the amount of One Million Dollars ($1,000,000.00), which amount shall be automatically reduced each week by the amount of One Hundred Thousand Dollars ($100,000.00) on the date that is one hundred twenty-one (121) days after the date of the Fourth Amendment and on each corresponding day of each following week thereafter, until reduced to zero (-0-) and (ii) from the period beginning on April 1 and ending on July 31 of each calendar year during the term of this Agreement (other than calendar year 2010), the amount of Five Hundred Thousand Dollars ($500,000.00), which amount shall be automatically reduced each week by the amount of One Hundred Thousand Dollars ($100,000.00) on August 1 of such calendar year and on each corresponding day of each following week thereafter, until reduced to zero (-0-).
Sample 1

Related to Overadvance Sublimit

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

  • 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.

  • 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.

  • 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.

  • 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.

  • LC Sublimit means $500,000,000.

  • 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.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

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

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

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

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

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

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.