PERMISSIBLE OVERLOANS. Revolving Credit Loans which are OverLoans, but as to which each of the following conditions is satisfied: (a) the Revolving Credit Ceiling is not exceeded; and (b) when aggregated with all other Permissible OverLoans, such Revolving Credit Loans do not aggregate more than ten percent (10%) of the aggregate of the Borrowing Base; and (c) such Revolving Credit Loans are made or undertaken in the Agent's discretion to protect and preserve the interests of the Revolving Credit Lenders.
PERMISSIBLE OVERLOANS. Defined in the Agency Agreement.
PERMISSIBLE OVERLOANS. Revolving Credit Loans which are OverLoans, but as to which each of the following conditions is satisfied: (a) the Revolving Credit Ceiling is not exceeded; and (b) when aggregated with all other Permissible OverLoans, such Revolving Credit Loans do not aggregate more than five percent (5%) of the aggregate of the Borrowing Base; (c) the Permissible OverLoans shall not remain outstanding for more than forty-five (45) consecutive days, and (d) such Revolving Credit Loans are made or undertaken in the Administrative Agent's discretion to protect and preserve the interests of the Revolving Credit Lenders.
More Definitions of PERMISSIBLE OVERLOANS
PERMISSIBLE OVERLOANS. Revolving Credit Loans which are Overloans, which aggregate no more than five (5%) of the Borrowing Base at any one time outstanding, where such loans (without duplication) are either (a) Protective Overloans or (b) made when Availability equals zero and are not extant for more than sixty (60) days during any 12 month period absent the consent of the Required Lenders.
PERMISSIBLE OVERLOANS means Revolving Credit Loans which are OverLoans, but as to which each of the following conditions is satisfied: (a) the aggregate amount of the Revolving Credit Commitments is not exceeded; (b) when aggregated with all other Permissible OverLoans, such Revolving Credit Loans do not aggregate more than five percent (5%) of the aggregate of the Borrowing Base; (c) the Permissible OverLoans shall not remain outstanding for more than forty-five (45) consecutive days; and (d) such Revolving Credit Loans are made or undertaken in the Agent's discretion to protect and preserve the interests of the Revolving Credit Lenders.
PERMISSIBLE OVERLOANS. Revolving Credit Loans hereunder which aggregate not more than 5% of the Loan Ceiling in effect on the date of this Agreement, where such loans are either (a) Protective Advances or (b) made when Availability equals zero and are not extant for more than sixty (60) days absent the consent of SuperMajority Lenders pursuant to Section 16.3 hereof; provided however, in no event shall the making of any Permissible Overloan cause the Loan Ceiling to be exceeded.
PERMISSIBLE OVERLOANS. Revolving Credit Loans which are OverLoans, but as to which each of the following conditions is satisfied: (a) the Revolving Credit Ceiling is not exceeded; and (b) when aggregated with all other Permissible OverLoans, such Revolving Credit Loans do not aggregate more than three
PERMISSIBLE OVERLOANS. As defined in the Agency Agreement.
PERMISSIBLE OVERLOANS. Revolving Credit Loans which are Overloans, but are both (a) Protective Advances and (b) when aggregated with all other Permissible Overloans, do not aggregate more than 10% of the aggregate of the Borrowing Base.
PERMISSIBLE OVERLOANS. Tranche A Loans which are Overloans, which aggregate no more than Five Percent (5%) of the Borrowing Base at any one time outstanding, where such loans (without duplication) are either (a) Protective Advances or (b) made when Availability equals zero and are not extant for more than sixty (60) consecutive days during any 12 month period absent consent of the Combined SuperMajority Lenders Plus pursuant to Section 16.5, hereof; provided however,