Protective Overadvance definition

Protective Overadvance as defined in Section 2.8(b).
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Protective Overadvance. SuperMajority Lenders "Unanimous Consent"
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Protective Overadvance has the meaning set forth in Section 1.1(d).
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Examples of Protective Overadvance in a sentence

  • Each applicable Lender shall be obligated to advance to the Borrower its Revolving Percentage of each Protective Overadvance made in accordance with this Section 2.8(b).

  • If a Protective Overadvance is made pursuant to the preceding sentence, then each Term Lender shall be obligated to make such Protective Overadvance based upon its Pro Rata Percentage thereof.

  • Notwithstanding anything to the contrary contained in this Agreement, the Term Agent may require the Term Lenders to make advances (a “Protective Overadvance”) so long as the Term Agent determines, in its sole discretion, such Protective Overadvance is necessary or desirable to preserve or protect any Collateral, or to enhance the collectability or repayment of Obligations, or to pay any other amounts chargeable to Borrowers under any Loan Documents, including costs, fees and expenses.

  • The making of any such Protective Overadvance on any one occasion shall not obligate the Administrative Agent or any Lender to make or permit any Protective Overadvance on any other occasion or to permit such Protective Overadvances to remain outstanding.

  • The making by the Administrative Agent of a Protective Overadvance shall not modify or abrogate any of the provisions of Section 2.03 regarding the Lenders’ obligations to purchase participations with respect to Letter of Credits or of Section 2.04 regarding the Lenders’ obligations to purchase participations with respect to Swing Line Loans.

  • A Protective Overadvance is for the account of the Borrowers and shall constitute a Base Rate Loan and an ABL Obligation and shall be repaid by the Borrowers in accordance with the provisions of Section 2.05(b)(ii).

  • Each applicable Lender shall be obligated to advance to the Borrowers its Revolving Percentage of each Protective Overadvance made in accordance with this Section 2.8(b).

  • Each applicable Lender shall be obligated to advance to the Borrower in its Revolving Percentage of each Protective Overadvance made in accordance with this Section 2.2(b).

  • Notwithstanding anything to the contrary contained in this Agreement, the Term Agent may require the Term Lenders to make advances (a “Protective Overadvance”) so long as the Term Agent determines, in its sole discretion, such Protective Overadvance necessary or desirable to preserve or protect any Collateral, or to enhance the collectability or repayment of Obligations, or to pay any other amounts chargeable to Borrowers under any Loan Documents, including costs, fees and expenses.

  • No funding of a US Protective Overadvance shall constitute a waiver by Agent or Lenders of the Event of Default relating thereto.


More Definitions of Protective Overadvance

Protective Overadvance means an Overadvance made by the Administrative Agent, in its discretion, which:
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Protective Overadvance shall have the meaning set forth in Section 4.4.
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Protective Overadvance as defined in Section 2.8(b). “Qualified Counterparty”: with respect to any Specified Swap Agreement, any counterparty thereto that is a Lender or an Affiliate of a Lender or, at the time such Specified Swap Agreement was entered into or as of the Closing Date, was the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender. “Qualified ECP Guarantor”: in respect of any Swap Obligation, (a) each Guarantor that has total assets exceeding $10,000,000 at the time the relevant Guarantee Obligation of such Guarantor provided in respect of, or the Lien granted by such Guarantor to secure, such Swap Obligation (or guaranty thereof) becomes effective with respect to such Swap Obligation, and (b) any other Guarantor that (i) constitutes an “eligible contract participant” under the Commodity Exchange Act or any regulations promulgated thereunder, or (ii) can cause another Person (including, for the avoidance of doubt, any other Guarantor not then constituting a “Qualified ECP Guarantor”) to qualify as an “eligible contract participant” at such time by entering into a “keepwell, support, or other agreement” as contemplated by Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. “Qualified Plan”: an employee benefit plan (as defined in Section 3(3) of ERISA) other than a Multiemployer Plan (a) that is or was at any time maintained or sponsored by any Loan Party or any ERISA Affiliate thereof or to which any Loan Party or any ERISA Affiliate thereof has ever made, or was ever obligated to make, contributions, and (b) that is intended to be tax-qualified under Section 401(a) of the Code. “Recipient”: the (a) Administrative Agent, (b) any Lender or (c) the Issuing Lender, as applicable. “Recovery Event”: any settlement of or payment in respect of any property or casualty insurance claim (other than any claim under any business interruption policy or cyber insurance policy) or any condemnation proceeding relating to any asset of any Group Member, but for clarity excludes amounts received for post-closing indemnification claims associated with any Permitted Acquisition. “Recurring Revenue”: with respect to the Borrower of any Guarantor, committed recurring
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Protective Overadvance shall have the meaning set forth in Schedule 1.6 hereof.
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Protective Overadvance. SuperMajority Lenders "Unanimous Consent" 156 -ACTIONS REQUIRING SWINGLINE LENDER CONSENT No action, amendment, or waiver of compliance with, any provision of the Loan Documents or of this Agreement which affects the SwingLine Lender may be undertaken without the Consent of the SwingLine Lender.
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Protective Overadvance. “SuperMajority Lenders”
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Related to Protective Overadvance

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Overadvance has the meaning set forth in Section 2.5.

  • Unintentional Overadvance means an Overadvance which, to the Administrative Agent’s knowledge, did not constitute an Overadvance when made but which has become an Overadvance resulting from changed circumstances beyond the control of the Credit Parties, including, without limitation, a reduction in the Appraised Value of property or assets included in the Borrowing Base or misrepresentation by the Loan Parties.

  • Permitted Overadvance means an Overadvance made by the Administrative Agent, in its discretion, which:

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Protective Advance has the meaning assigned to such term in Section 2.04.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Swing Loan Exposure means, as of any date of determination with respect to any Lender, such Lender’s Pro Rata Share of the Swing Loans on such date.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • U.S. Revolving Credit Exposure means, with respect to any Lender at any time, the sum of such Lender’s outstanding U.S. Revolving Loans and its U.S. L/C Exposure and U.S. Swingline Exposure at such time.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Swing Line Obligations means, as at any date of determination, the aggregate principal amount of all Swing Line Loans outstanding.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Revolving Dollar Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Syndicated Loans, and its LC Exposure and Swingline Exposure, at such time made or incurred under the Dollar Commitments.

  • Swing Line Outstandings means, as of any date of determination, the aggregate principal amount of all Swing Line Loans then outstanding.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.