Revolving Credit Loan Ceiling definition

Revolving Credit Loan Ceiling is defined as the Revolving Credit Loan Commitment less the amounts of all Letters of Credit issued and outstanding under this Agreement.

Revolving Credit Loan Ceiling. Thirty Million ($30,000,000) Dollars, provided, however, the “Revolving Credit Loan Ceiling” may be increased up to Forty Million ($40,000,000) Dollars as of the Closing Date or at any time, pursuant to the provisions of Section 2.21.

Revolving Credit Loan Ceiling. Initially Seventy Million Dollars ($70,000,000), provided, however, that if Lead Borrower elects to increase the Revolving Credit Loan Ceiling to $75,000,000 pursuant to Section 2.1(e) hereof, the Revolving Credit Loan Ceiling shall mean $75,000,000 from and after the Increased Commitment Effective Date.

Examples of Revolving Credit Loan Ceiling in a sentence

• The Borrower shall not cause or suffer to exist Excess Availability, at all times, to be less than that amount (stated in Dollars) equal to Ten (10%) Percent multiplied by the lesser of (i) the Borrowing Base and (ii) the Revolving Credit Loan Ceiling.

• The Revolving Credit Note notwithstanding, Obligors shall repay such outstanding advances as are necessary to reduce the outstanding principal balance thereunder to the extent necessary so as not to exceed the Revolving Credit Loan Ceiling.

• This pattern is likely to repeat itself during this recession and possibly to a high degree as working from home becomes more widely spread.

• Lender agrees, upon the terms and conditions set forth in this Agreement, and in reliance upon the representations and warranties made under this Agreement, to make the Revolving Credit Loan available to Obligors and allow Obligors during the Revolving Credit Advance Term to borrow, repay and re-borrow from Lender in an amount up to, but not exceeding, the Revolving Credit Loan Ceiling.

• The Unused Line Fee shall be equal to 0.375% per annum of the average difference, during the quarter just ended (or relevant period with respect to the payment being made on the Termination Date) between the Revolving Credit Loan Ceiling and the aggregate of the unpaid principal balance of the Loan Account plus the undrawn amount of all L/C's outstanding during the quarter just ended (or such relevant period).

More Definitions of Revolving Credit Loan Ceiling

Revolving Credit Loan Ceiling. $200 Million (subject to irrevocable reduction of up to $50 Million (in increments of $10 Million) on 30 days irrevocable prior written notice by the Lead Borrower to the Administrative Agent at any time after July 1, 2000.

Revolving Credit Loan Ceiling. Ten Million Dollars ($10,000,000.00)

Revolving Credit Loan Ceiling. $65,000,000, provided that at the written request of the Borrowers, accompanied by a certificate of each Obligor’s respective Secretary as to the due adoption and continued effectiveness of each corporate resolution adopted with respect to such increase and attesting to the true signatures of each Person authorized as a signatory to any document effecting such increase, and with the prior written consent of the Administrative Agent in its sole discretion, the Revolving Credit Loan Ceiling shall be increased an additional $20,000,000, in increments of $2,500,000 up to a maximum Revolving Credit Loan Ceiling of $85,000,000. Notwithstanding the foregoing, at any time that the Indenture Agreement restricts Indebtedness, the Revolving Credit Loan Ceiling shall at no time exceed the amount that the Indenture Agreement permits Borrowers and the Restricted Subsidiaries (as defined in the Indenture Agreement) to incur as Indebtedness (as defined in the Indenture Agreement) hereunder at such time.

Revolving Credit Loan Ceiling. Thirty Five Million ($35,000,000) Dollars.

Revolving Credit Loan Ceiling. From To Ceiling ($Millions) ---------------- ----------------- ------------------- Closing October 8, 2000 75.0 October 9, 2000 October 15, 2000 87.5 October 16, 2000 October 22, 2000 86.5 October 23, 2000 October 29, 2000 84.5 October 30, 2000 November 5, 2000 81.5 November 6, 2000 November 12, 2000 77.5 November 13, 2000 Maturity Date 75.0 SECTION 2-9 of the Loan Agreement is amended to read as follows: The obligation to repay loans and advances under the Revolving Credit, with interest as provided herein, shall be evidenced by Notes (each, a "REVOLVING CREDIT NOTE") in the form of EXHIBIT 2:2-9, annexed hereto, executed by the Borrowers, one payable to each Revolving Credit Lender. Each of the Borrower's shall be bound by, and obligated on account of any increase or decrease in the amount of any Revolving Credit Lender's Revolving Credit Dollar Commitment notwithstanding that such increase or decrease may not be reflected on the Revolving Credit Note held by that Revolving Credit Lender. Neither the original nor a copy of any Revolving Credit Note shall be required, however, to establish or prove any Liability. Upon the Borrowers' Representative's being provided with an affidavit, from the Administrative Agent to the effect that any Revolving Credit Note has been lost, mutilated, or destroyed, the Borrowers shall execute a replacement thereof and deliver such replacement to the Administrative Agent.

Revolving Credit Loan Ceiling. From To Ceiling ($Millions) --------------- ---------------- ------------------- Closing October 8, 2000 75.0 October 9, 2000 October 15, 2000 87.5 October 16, 2000 October 22, 2000 86.5 October 23, 2000 October 29, 2000 84.5 October 30, 2000 November 5, 2000 81.5 November 6, 2000 November 12, 2000 77.5 November 13, 2000 November 24, 2000 84.0 November 25, 2000 Maturity Date 75.0 EXHIBIT 2:2-24 of the Loan Agreement is amended to read as Schedule 2:2-24 annexed hereto.

Revolving Credit Loan Ceiling. $150 Million.