Overformula Amount definition

Overformula Amount means (a) $2,500,000 during the period from March 8, 2006 until June 1, 2006, and $0 at all times thereafter.
Overformula Amount shall initially mean $1,500,000. On each of April 1, 2013, April 1, 2014 and April 1, 2015, the Overformula Amount shall decrease by $500,000.
Overformula Amount is amended to read as follows:

Examples of Overformula Amount in a sentence

  • If, for any reason whatsoever, the aggregate Overformula Amount exceeds $3,000,000 at any time, the same shall constitute an Event of Default under the Loan Documents.

  • Any Revolving Advances constituting an Overformula Amount are made available by Lender or otherwise permitted to exist in the sole and absolute discretion of Lender and are subject to Section 2.7 hereof.

  • If an Overformula Amount exists for five (5) or more days in any month during the Term, Advances (other than Cap/Ex Loans) for that month shall bear interest at the Overformula Rate.

  • Notwithstanding anything to the contrary contained herein, the aggregate amount of all Revolving Advances and amounts due under Letters of Credit at any time and from time to time outstanding hereunder and under the Affiliate Loan Agreements shall not exceed the formulas and limitations as set forth in Section 2.1(a) hereof (any such excess amount, an "Overformula Amount").

  • The aggregate balance of all Revolving Advances constituting an Overformula Amount shall be immediately due and payable without the necessity of any demand, at the place designated by Lender, whether or not an Incipient Event of Default or Event of Default has occurred, unless otherwise expressly agreed to in writing by Lender.


More Definitions of Overformula Amount

Overformula Amount shall initially mean Five Million Dollars ($5,000,000). Beginning August 6, 2007, the Overformula Amount shall mean the lesser of (i) Five Million Dollars ($5,000,000) and (ii) fifty percent (50%) of the aggregate appraised value of the Eligible Real Estate Collateral.
Overformula Amount means, at any time, as calculated by Lender, the amount (if any) by which (A) the aggregate amount of outstanding Obligations (other than the face amount of outstanding Letter of Credit Accommodations) at such time, exceeds (B) the lesser of (x) the Formula Availability and (y) the Maximum Credit less the face amount of outstanding Letter of Credit Accommodations, at such time.
Overformula Amount shall have the meaning set forth in Section 2.1(b) hereof.
Overformula Amount shall initially mean Four Million Five Hundred Thousand Dollars ($4,500,000). Commencing February 1, 2004, and on the first day of each month thereafter, the Overformula Amount shall automatically permanently reduce by $187,500 until it is $0. Upon the consummation of an Offering, the Overformula Amount shall be reduced to $0.
Overformula Amount means (a) $2,500,000 during the period from March 8, 2006 until September 1, 2006, and $0 at all times thereafter.
Overformula Amount is defined in the Advance Formula Agreement.
Overformula Amount means (i) $3,000,000 for the period from July 30, 1999 to September 30, 1999, (ii) $1,500,000 for the period from October 1, 1999 to November 30, 1999, and (iii) $0 at all times thereafter.