Revolver Loan Cap means, at any time of determination, the “Loan Cap” under and as defined in the Revolver Credit Agreement, as in effect on the date hereof.
Revolver Loan Cap means the lesser of (a) the Borrowing Base at such time and (b) the aggregate commitments of the Lenders under the ABL Facility. 5 ELIGIBILITY: Criteria for eligible credit card receivables, eligible wholesale accounts receivable, eligible leased department receivables, eligible inventory (including eligible in-transit inventory and eligible leased department inventory), eligible intellectual property and Qualified Cash will be defined in the Credit Facilities Documentation in accordance with the Administrative Agent’s customary practices and as appropriate under the circumstances, as determined by the Administrative Agent pursuant to field examinations and other due diligence. The Administrative Agent will retain the right from time to time to establish or modify standards of eligibility that it deems necessary or appropriate in its Permitted Discretion. PURPOSE: The proceeds of the Senior Credit Facilities shall be used to (i) refinance certain existing indebtedness of the Company and its subsidiaries (including, without limitation, indebtedness under the Existing Credit Agreements (as hereinafter defined)), (ii) pay fees and expenses incurred in connection with the Transactions; and (iii) provide ongoing working capital and for other general corporate purposes of the Borrower and its subsidiaries. TRANSACTIONS: The (a) entering into, and funding of, the Senior Credit Facilities, (b) repayment in full of the Existing Credit Agreements and the release of the liens securing such indebtedness and (c) the related obligations and related transactions (collectively, the “Transactions”). CLOSING DATE: The date on which execution of definitive loan documentation occurs and the conditions precedent to the initial funding of the advances are satisfied under the Senior Credit Facilities, which shall occur on or before November 30, 2018 (the “Closing Date”). INTEREST RATES: As set forth in Addendum I attached hereto. MATURITY: The Senior Credit Facilities shall terminate and all amounts outstanding thereunder shall be due and payable in full five (5) years after the Closing Date. AVAILABILITY: The ABL Loans under the ABL Facility may be made, and Letters of Credit may be issued, on a revolving basis up to the full amount of the ABL Facility, subject to compliance with the Borrowing Base requirements. MANDATORY PREPAYMENTS: Borrowers will be required to repay the ABL Loans and provide cash collateral to the extent that the ABL Loans and Letters of 6
Revolver Loan Cap means, as of any date of determination, the lesser of (i) the Aggregate Revolving Commitment (as defined in the Revolver Loan Agreement) as in effect on the date of this Agreement and as the same may be amended from time to time be reduced or increased pursuant to the terms of the Revolver Loan Agreement less the Availability Block (as defined in the Revolver Loan Agreement) in compliance with the Intercreditor Agreement or (ii) the Revolver Borrowing Base.
More Definitions of Revolver Loan Cap
Revolver Loan Cap means, as of any date of determination, the lesser of (i) the Aggregate Revolving Commitment (as defined in the Revolver Loan Agreement) as in effect on the date of this Agreement and as the same may be amended from time to time be reduced or increased pursuant to the terms of the Revolver Loan Agreement less the Availability Block (as defined in the Revolver Loan Agreement) in compliance with the Intercreditor Agreement or(ii) the Revolver Borrowing Base.