Examples of Permitted Overadvance Amount in a sentence
The DIP Facility will be available for loans in an aggregate amount not to exceed the Maximum Revolver Amount of $27 million plus $3 million of Prepetition Advances, less the amount of Prepetition Advances and Pre-Petition Term Loans outstanding, provided however the Aggregate Maximum Loan Balance shall not exceed and shall be deemed to reduce to, the letter of (x) $30,000,000 and (y) the Borrowing Base plus the Permitted Overadvance Amount at such time.
The Borrower must make a mandatory prepayment if and to the extent, at any time: (i) the Revolver Usage exceeds (A) the Borrowing Base plus the Permitted Overadvance Amount or (B) the Maximum Revolver Amount less the outstanding amount of Advances (as defined in the Prepetition Credit Facility), plus up to $3 million in advances under the Prepetition Credit Facility at such time.