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 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.
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).