Permitted Initial Revolving Borrowing Purposes means (a) one or more Borrowings of Dollar Revolving Credit Loans to (i) finance the Transactions or (ii) finance working capital needs of the Borrower or the Restricted Subsidiaries and (b) the issuance of Letters of Credit (i) in replacement of, or as a backstop for, letters of credit of the Borrower or the Restricted Subsidiaries outstanding on the Closing Date or (ii) to finance working capital needs of the Borrower or the Restricted Subsidiaries.

Permitted Initial Revolving Borrowing Purposes means (a) one or more Borrowings of Dollar Revolving Credit Loans in an aggregate amount of up to $600,000,000 to (i) finance the Transactions or (ii) finance working capital needs of the Parent Borrower or the Restricted Subsidiaries and (b) the issuance of Letters of Credit (i) in replacement of, or as a backstop for, letters of credit of the Parent Borrower or the Restricted Subsidiaries outstanding on the Closing Date or (ii) to finance working capital needs of the Parent Borrower or the Restricted Subsidiaries.

Permitted Initial Revolving Borrowing Purposes means (a) one or more Borrowings of Revolving Credit Loans in an aggregate amount of up to Borrowing Base as of the Closing Date, (i) finance the Transactions or (ii) finance working capital needs of the Parent Borrower or the Restricted Subsidiaries and (b) the issuance of Letters of Credit in an aggregate that, taken together with the Borrowings under clause (a) do not exceed the Borrowing Base as of the Closing Date, (i) in replacement of, or as a backstop for, letters of credit of the Parent Borrower or the Restricted Subsidiaries outstanding on the Closing Date or (ii) to finance working capital needs of the Parent Borrower or the Restricted Subsidiaries.

Examples of Permitted Initial Revolving Borrowing Purposes in a sentence

The Initial Revolving Borrowing may be used for any Permitted Initial Revolving Borrowing Purposes.
The proceeds of the Revolving Loans and the Swingline Loans are to be used solely (a) with respect to the Initial Revolving Borrowing, to finance, in part, the Transactions and the redemption after the Closing Date of the 2008 Notes (to the extent permitted in accordance with the definition of the term “Permitted Initial Revolving Borrowing Purposes”) and for the other Permitted Initial Revolving Borrowing Purposes and (b) with respect to all other borrowings thereof, for general corporate purposes.

More Definitions of Permitted Initial Revolving Borrowing Purposes

Permitted Initial Revolving Borrowing Purposes means (a) one or more Borrowings of Revolving Loans (i) up to an amount equal to the excess, if any of (x) the working capital of the Borrower on the Closing Date estimated in good faith by the Borrower over (y) the working capital of Neiman Marcus as of July 30, 2005, with the amount calculated pursuant to this clause (i) to be determined in good faith by the Borrower and reasonably acceptable to the Joint Lead Arrangers, and (ii) up to an additional amount and for such purposes notified by the Borrower to the Joint Lead Arrangers prior to the Closing Date as shall be approved by the Joint Lead Arrangers, and (b) the issuance of Letters of Credit in replacement of, or as backstop for, letters of credit of the Borrower or its Subsidiaries outstanding on the Closing Date (including any deemed issuance with respect to Existing Letters of Credit pursuant to Section 2.06).

Permitted Initial Revolving Borrowing Purposes shall have the meaning assigned to such term in Section 2.01(b).

Permitted Initial Revolving Borrowing Purposes means (a) one or more Borrowings of Revolving Credit Loans to finance the Transaction that do not exceed in the aggregate the sum of (i) the aggregate amount of fees and expenses payable on the Closing Date plus (ii) the aggregate amount of original issue discount in respect of Loans borrowed on the Closing Date, (b) the issuance of Letters of Credit in replacement of, or as a backstop for, letters of credit of Holdings, the Parent Borrower or any of the Restricted Subsidiaries outstanding on the Closing Date or (c) to finance seasonal working capital and variations from projected working capital needs of the Parent Borrower or its Subsidiaries.

Related to Permitted Initial Revolving Borrowing Purposes

Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”
Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.
ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.
Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.
Incremental Revolving Loans has the meaning assigned to such term in Section 2.22(a).
Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.
Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.
Additional Revolving Loans means any revolving loan added hereunder pursuant to Section 2.22, 2.23 or 9.02(c)(ii).
RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.
Incremental Revolving Loan has the meaning set forth in Section 2.14(b).
Initial Revolving Loan means a Revolving Facility Loan made (i) pursuant to the Revolving Facility Commitments in effect on the Closing Date (as the same may be amended from time to time in accordance with this Agreement) or (ii) pursuant to any Incremental Revolving Facility Commitment on the same terms as the Revolving Facility Loans referred to in clause (i) of this definition.
ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.
Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).
Term SOFR Borrowing means a Borrowing comprised of Term SOFR Loans.
SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.
Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.
Replacement Revolving Loans shall have the meaning assigned to such term in Section 2.21(l).
Notice of Revolving Borrowing shall have the meaning as set forth in Section 2.3.
Revolving Loan Borrowing means a borrowing of a Revolving Loan.
Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.
Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).
Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).
Incremental Revolving Facility has the meaning assigned to such term in Section 2.22(a).
Eurodollar Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.
Incremental Revolving Loan Lender shall have the meaning provided in Section 2.14(b).
Incremental Revolving Facility Commitment means the commitment of any Lender, established pursuant to Section 2.21, to make Incremental Revolving Loans to the Borrower.

Permitted Initial Revolving Borrowing Purposes definition

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