Revolver Cap definition

Revolver Cap means, on any date of determination thereof, an amount equal to the lesser of (a) 110% of the Facility Cap then in effect minus the aggregate amount of all permanent reductions to or Reserves against the Commitments under the Revolving Facility, in each case that are effected after the Closing Date, or (b) the sum of (i) the Borrowing Base then in effect, plus (ii) $1,500,000 (which amount may be provided by modifications to the Borrowing Base and/or Protective Advances made by Agent), plus (iii) the aggregate principal amount of Inadvertent Overadvances then outstanding.
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Revolver Cap means the lesser of (i) One Hundred Seventy-Five Million Dollars ($175,000,000) and (ii) the Leverage Cap minus the outstanding principal amount of any Non-Revolver Debt. “Leverage Cap” equals two (2) times the Company's Annual Adjusted EBITDA determined based upon the Company’s consolidated financial statements as most recently filed immediately prior to such date of determination in its 10-Q or 10-K with the Securities and Exchange Commission, up to a maximum amount of $175,000,000. “Non-Revolver Cap” means the lesser of (i) One Hundred Million Dollars ($100,000,000) and (ii) the Leverage Cap minus the revolving loan commitments under the Revolver Debt. For the avoidance of doubt, the Parties agree that the aggregate amount of Funded Indebtedness that may be incurred pursuant to this Section 4.12(a) shall not exceed $175,000,000.
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Revolver Cap means an amount equal to the sum of the Canadian Revolver Cap and the U.S. Revolver Cap. For purposes of clarification, the “Revolver Cap” is an overall cap and is not intended to impose limitations on changes in the allocations between the Canadian Borrower and the U.S. Borrower or the allocations between Dollar and Canadian Dollar denominations, in each case, so long as they fit within the overall Revolver Cap.
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Examples of Revolver Cap in a sentence

  • The Borrower will use the proceeds of the Revolving Loans for working capital needs and other general corporate purposes (including, without limitation, to finance (x) costs and expenses in connection with the Transactions and (y) any Permitted Business Acquisitions); provided that the aggregate principal amount of Revolving Loans and Letters of Credit made on the Closing Date shall be subject to the Closing Date Revolver Cap.

  • If this Agreement shall have been terminated prior to such Revolver Recovery, this Agreement shall be reinstated in full force and effect, and such prior termination shall not diminish, release, discharge, impair, or otherwise affect the obligations of the parties hereto from such date of reinstatement and to the extent the Revolver Cap was decreased in connection with such payment of the Revolver Obligations, the Revolver Cap shall be increased to such extent.

  • To satisfy the Revolver Cap, NYL paid $7,500,000.00 of the outstanding revolving loans (the “Revolver Paydown”), thereby reducing the Total Revolving Outstandings to $35,000,000.00.

  • Subject to and upon the terms and conditions of this Agreement, Borrower may request Advances in an aggregate outstanding amount at any time not to exceed the Revolver Cap.


More Definitions of Revolver Cap

Revolver Cap means an amount initially equal to $20,000,000 LESS the Revolver Blocked Amount, which Revolver Cap shall be:
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Revolver Cap means Twenty Million Dollars ($20,000,000).
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Revolver Cap means, at any time of determination, the lesser of (a) the sum of the Revolving Commitments or (b) the Borrowing Base.
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Related to Revolver Cap

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Revolver Commitment means, with respect to each Lender, its Revolver Commitment, and, with respect to all Lenders, their Revolver Commitments, in each case as such Dollar amounts are set forth beside such Lender's name under the applicable heading on Schedule C-1 or on the signature page of the Assignment and Acceptance pursuant to which such Lender became a Lender hereunder in accordance with the provisions of Section 14.1.

  • Revolver Commitments means the aggregate amount of such commitments of all Lenders.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Revolving Credit Percentage as to any Revolving Credit Lender at any time, the percentage which such Lender's Revolving Credit Commitment then constitutes of the Total Revolving Credit Commitments (or, at any time after the Revolving Credit Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender's Revolving Credit Loans then outstanding constitutes of the aggregate principal amount of the Revolving Credit Loans then outstanding).

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Revolver Percentage means, for each Lender, the percentage of the Revolving Credit Commitments represented by such Lender’s Revolving Credit Commitment or, if the Revolving Credit Commitments have been terminated, the percentage held by such Lender (including through participation interests in Reimbursement Obligations) of the aggregate principal amount of all Revolving Loans and L/C Obligations then outstanding.

  • Maximum Revolving Credit Amount means, at any particular time, the Revolving Credit Commitments at such time.

  • Revolving Credit Limit has the meaning set forth in the Schedule.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Revolving Multicurrency 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 Multicurrency Commitments.

  • Total Revolving Credit Exposure means, as to any Revolving Lender at any time, the unused Commitments and Revolving Exposure of such Revolving Lender at such time.

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Revolver means a short firearm having a cylinder of several chambers that are brought successively into line with the barrel to be discharged, designed to be aimed and fired by the use of a single hand.

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

  • 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.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Canadian Commitment means the obligation of the Canadian Lender to (a) make Canadian Loans to the Canadian Borrowers and (b) issue Canadian Letters of Credit for the account of the Canadian Borrowers pursuant to Section 2.03, in an aggregate principal amount at any one time outstanding not to exceed C$15,000,000, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).