Principal Exposure means, with respect to any Secured Party at any time (i) if such Secured Party is a Bank under the Bank Credit Agreement, the aggregate amount of such Secured Party’s Commitment under the Bank Credit Agreement, or, if the Banks shall then have terminated the Commitments under the Bank Credit Agreement, the sum of (x) the outstanding principal amount of such Secured Party’s Loans thereunder and (y) the outstanding face and/or principal amount of such Secured Party’s L/C Interests thereunder at such time and (ii) if such Secured Party is a Pru Noteholder, the outstanding principal amount of such Secured Party’s Pru Notes at such time.
Principal Exposure means, with respect to any Creditor at any time, (i) if such Creditor is a Bank, the aggregate amount of such Bank’s commitments to extend revolving credit (including letters of credit) under the Bank Credit Agreement plus, to the extent any term loans have been extended, the principal amount of such term loans, or, if the Banks shall then have terminated their commitments to extend credit under the Bank Credit Agreement, the sum of (x) the outstanding principal amount of all of such Bank’s loans under the Bank Credit Agreement and (y) the outstanding face amount and/or principal amount of such Bank’s L/C Interests at such time, and (ii) if such Creditor is a Noteholder, the outstanding principal amount of such Creditor’s Senior Notes at such time.
Principal Exposure means with respect to any Lender at the time of an Event of Default, the amount of outstanding principal and accrued interest under such Lender's Bridge Note at such time.
Examples of Principal Exposure in a sentence
On all matters requiring the vote or consent of the Banks, all Banks shall vote as a single class with each Bank's vote being equal at any time to its Pro Rata Share of the Total Principal Exposure of all Banks under all Bank Facilities taken as a whole, the holders of a majority of such Total Principal Exposure of all Banks shall constitute the "Majority Banks", and the actions of the Majority Banks shall be binding on each of the Banks.
Principal Exposure on the AOL Service, AOL.com, the CompuServe Service and the Netscape Netcenter: o One xxxxxxxous (24/7) 143 x 245 pixels promotional space with corporate brand or logo, product offering graphic and product offering two-line text field on the department front screen.
The Borrower shall from time to time prepay the Loan in such amount as shall be necessary so that (1) the Principal Exposure shall not exceed the Borrowing Base for more than 10 consecutive Business Days, and (2) the Real Estate Value Test shall be satisfied as of the last day of each calendar quarter.
As an Anchor in a department, MERCHANT will be entitled to the following: Principal Exposure on the AOL Service, XXX.XX and CompuServe for Canadians: o One continuous (24/7) 130 x 90 button with corporate brand or logo on the department front screen of the AOL Service.
Immediately after giving effect to the Loan (a) the Real Estate Value Test shall be satisfied, and (b) the Principal Exposure shall not exceed 80% of the outstanding principal balance of the Eligible HELOCs.
More Definitions of Principal Exposure
Principal Exposure means at any time in relation to an Original Lender, the aggregate amount of that Original Lender’s participation (if any, without double counting) in all principal amounts, whether outstanding or undrawn, under each relevant Existing Facility Agreement as at the Signing Date.
Principal Exposure means, with respect to any Lender at any time (i) if such Lender is a Bank, (a) prior to the acceleration of the Obligations under the Bank Credit Agreement, the sum of (x) the aggregate amount of such Lender’s unfunded Commitments under the Bank Credit Agreement to the extent such Lender shall be contractually obligated to make Credit Extensions (as defined in the Bank Credit Agreement) pursuant to the terms of the Bank Credit Agreement, (y) the outstanding principal amount of such Lender’s Loans and (z) the outstanding face and/or principal amount of such Lender’s L/C Interests at such time, (b) after an acceleration of the Obligations under the Bank Credit Agreement but prior to the date upon which the Bank Credit Agreement has terminated by its terms and all of the Obligations thereunder shall have been paid in full, the sum of (x) the outstanding principal amount of such Lender’s Loans, (y) the outstanding face and/or principal amount of such Lender’s L/C Interests at such time and (z) the aggregate net early termination payments and all other amounts due and unpaid from the Borrower to such Bank or such Bank’s Affiliates under Rate Management Transactions, as determined by the Agent in its reasonable discretion and (z) after the Bank Credit Agreement has terminated by its terms and all of the Obligations thereunder have been paid in full (whether or not the Obligations under the Bank Credit Agreement were ever accelerated), the aggregate net early termination payments and all other amounts then due and unpaid from the Borrower to such Bank or such Bank’s Affiliates under Rate Management Transactions, as determined by the Agent in its reasonable discretion, and (ii) if such Lender is a Noteholder, the outstanding principal amount of such Lender’s Notes at such time, (iii) if such Lender is an Additional Holder that is party to a secured revolving credit facility or secured term loan credit facility (a) prior to the acceleration of the Obligations under the such Lender’s Eligible Additional Senior Secured Documents, the sum of (x) the aggregate amount of such Lender’s unfunded commitments under such Eligible Additional Senior Secured Documents to the extent such Lender shall be contractually obligated to make extensions of credit pursuant to the terms of such Eligible Additional Senior Secured Documents and (y) the outstanding unpaid principal amount of such Lender’s Eligible Additional Senior Secured Indebtedness, (b) after an acceleration of the Obli...
Principal Exposure means, with respect to any Lender at any time (i) if such Lender is a U.S. Bank, the aggregate amount of such Lender’s Commitment under the U.S. U.S. Agreement, or, if the U.S. Banks shall then have terminated the Commitments, the sum of (x) the outstanding principal amount of such Lender’s U.S. Loans and (y) the outstanding face and/or principal amount of such Lender’s L/C Interests at such time, and (ii) if such Lender is a Chinese Lender, the aggregate amount of such Lender’s Commitment under the Chinese Agreement, or, if the Chinese Lenders shall have terminated their Commitments, the outstanding principal amount of such Lender’s Chinese Loans at such time.
Principal Exposure means, with respect to any Creditor at any time, (i) if such Creditor is a Bank, the aggregate amount of such Bank’s commitments to extend revolving credit (including letters of credit) under the Bank Credit Agreement plus, to the extent any term loans have been extended, the principal amount of such term loans, or, if the Banks shall then have terminated their commitments to extend credit under the Bank Credit Agreement, the sum of (x) the outstanding principal amount of all of such Bank’s loans under the Bank Credit Agreement and (y) the outstanding face amount and/or principal amount of such Bank’s L/C Interests at such time, and (ii) if such Creditor is a Noteholder, the outstanding principal amount of such Creditor’s Senior Notes at such time. “Pro Rata Share” shall mean, with respect to any Creditor at any time, a fraction, expressed as a percentage, the numerator of which is the amount of such Creditor’s Principal Exposure at such time, and the denominator of which is the aggregate amount of Principal Exposure of all of the Creditors of the same class (i.e. Xxxxx, Prudential Noteholders or NY Life Noteholders, as applicable) at such time. “Pro Rata Expenses Share” shall mean, with respect to any Creditor at any time, a fraction, expressed as a percentage, the numerator of which is the amount of such Creditor’s Principal Exposure at such time, and the denominator of which is the aggregate amount of Principal Exposure of all Creditors at such time. “Qualified Creditor” shall mean any Creditor which is not an Affiliate of any Grantor. “Required Creditors” shall mean, at any time, (i) Banks whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the Banks, (ii) Prudential Noteholders whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the Prudential Noteholders and (iii) NY Life Noteholders whose Pro Rata Shares represent greater than 50% of the aggregate Principal Exposure of all of the NY Life Noteholders; provided, however, that only Pro Rata Shares of Senior Indebtedness held by Qualified Creditors shall be included in this determination; provided, further, that if at any time Obligations owing to Banks, the Prudential Noteholders or the NY Life Noteholders, as the case may be, are less than both (A) $1,000,000, and (B) 10% of the aggregate Obligations (the Banks, the Prudential Noteholders or the NY Life Noteholders, as the case may be, a “Deminimis Group”), then the ...
Principal Exposure means, at any time, the outstanding principal amount of the Loan at such time.
Principal Exposure means, with respect to any Lender at any time (i) if such Lender is a Bank, the aggregate amount of such Lender's Commitments under each of the Bank Credit Agreements, or, if the Banks shall then have terminated the Commitments or if the Collateral Agent shall then have received a Notice of Actionable Default that shall not have been withdrawn, the sum of (x) the outstanding principal amount of such Lender's Loans and (y) the outstanding face and/or principal amount of such Lender's L/C Interests at such time, and (ii) if such Lender is a Noteholder, the outstanding principal amount of such Lender's Notes at such time.
Principal Exposure means with respect to any Senior Claimholder, the sum of (1) the aggregate amount of such Senior Claimholder’s commitments to extend revolving credit or make term loans to any Borrower under any Senior Document (or, if such Senior Claimholder’s commitments to extend revolving credit or make term loans have terminated, the principal balance of any such loans actually advanced and outstanding) and, without duplication, and (2) the outstanding principal amount of any notes made by any Borrower in favor of such Senior Claimholder pursuant to any Senior Document.