Revolving Credit Facility Test Condition definition

Revolving Credit Facility Test Condition means, as of any date of determination, that the sum of (i) the aggregate principal amount of all outstanding Revolving Credit Loans (other than, for the first two full fiscal quarters after the Closing Date, any Revolving Credit Loans borrowed on the Closing Date to finance any OID or upfront fees, if any), and (ii) the aggregate principal amount of all undrawn Letters of Credit in excess of $7,500,000 then outstanding exceeds 35.0% of the amount of the Total Revolving Credit Commitment as of such date.
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Revolving Credit Facility Test Condition means, as of any date of determination, that the sum of (i) the aggregate principal amount of all outstanding Revolving Credit Loans and Swingline Loans, and (ii) the aggregate principal amount of all drawn Letters of Credit then unreimbursed exceeds 40.0% of the amount of the Total Revolving Credit Commitment as of such date.
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Revolving Credit Facility Test Condition means, as of any date of determination, that the aggregate principal amount of all outstanding Revolving Loans (including Swing Line Loans) and Letters of Credit (but excluding (1) any Letter of Credit that has been Cash Collateralized in an amount equal to at least 103.0% of the face amount thereof, (2) undrawn Letters of Credit with an aggregate face amount not exceeding $7.5 million and (3) solely with respect to the first two full fiscal quarters of the Borrower commencing after the Effective Date, the principal amount of Revolving Loans (if any) made on the Effective Date to finance certain original issue discount or upfront fees) exceeds an amount equal to 35.0% of the aggregate amount of Revolving Commitments; provided that if the Lenders in respect of any Additional/Replacement Revolving Commitment have agreed not to have the benefit of the Financial Performance Covenant, such Additional/Replacement Revolving Commitment and the Revolving Loans and the Letters of Credit made or issued under, shall be disregarded for purposes of the calculations above.
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Examples of Revolving Credit Facility Test Condition in a sentence

  • Solely with respect to the Revolving Credit Facility, Holdings will not permit the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio as of the last day of any Test Period on which the Revolving Credit Facility Test Condition is then satisfied to be greater than 5.75 to 1.00.

Related to Revolving Credit Facility Test Condition

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Required Revolving Credit Lenders means, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

  • Revolving Credit Maturity Date means the earliest of (a) May 24, 2012, or (b) such earlier date upon which the Outstanding Amounts under the Revolving Credit Facility, including all accrued and unpaid interest, are required to be paid in full, and all Revolving Credit Commitments terminated, in accordance with the terms hereof.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

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