Revolving Credit Reduction Amount definition

Revolving Credit Reduction Amount has the meaning specified in Section 2.04(b)(iv).
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Revolving Credit Reduction Amount the Borrower will, in lieu of applying such amount to the prepayment of the Outstanding Loans (or, in the case of any outstanding Revolving Letters of Credit, to Cash Collateralize the Revolving L/C Obligations in respect thereof in an amount equal to 103% of the Dollar Equivalent of the amount thereof) or, as applicable, the permanent reduction of the Revolving Credit Commitments as provided in clause (v) above, on the respective date specified in Section 2.04(b)(ii), (iii) or (iv) for such prepayment or permanent reduction, give the Payment Agent telephonic notice (promptly confirmed in writing) requesting that the Payment Agent prepare and provide to each Lender a notice (each, a “Prepayment Option Notice”) as described below (which shall specify the portion, if any, of the relevant Prepayment Amount or Revolving Credit Reduction Amount that the Borrower will Cash Collateralize pursuant to the proviso set forth in Section 2.04(b)(v)). As promptly as practicable after receiving such notice from the Borrower, the Payment Agent will send to each relevant Lender a Prepayment Option Notice, which shall be in the form of Exhibit I, and shall include an offer by the Borrower to, as applicable (A) prepay on the date (each a “Mandatory Prepayment Date”) that is 10 Business Days after the date of the Prepayment Option Notice, the Outstanding Loans of such Lender by an amount equal to the portion of the Prepayment Amount (i.e., the Revolving Prepayment Amount and/or the Term L/C Facility Prepayment Amount, as applicable) indicated in such Lender’s Prepayment Option Notice as being applicable to such Lender’s Outstanding Loans (i.e., the Revolving Credit Loans and/or the Term L/C Facility Term Loans, as applicable) and/or (B) as applicable, permanently reduce on the Mandatory Prepayment Date, the unused amount of the Revolving Credit Commitments of such Lender by an amount equal to the portion of the Revolving Credit Reduction Amount indicated in such Lender’s Prepayment Option Notice as being applicable to such Lender’s Revolving Credit Commitment. Each Lender shall notify the Payment Agent at least three Business Days prior to the Mandatory Prepayment Date of its decision to accept or reject such offer, and the Payment Agent shall notify the Borrower thereof no later than two Business Days prior to the Mandatory Prepayment Date. On the Mandatory Prepayment Date, (I) the Borrower shall pay to the Payment Agent for account of the relevant Lenders the aggregate amou...
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Examples of Revolving Credit Reduction Amount in a sentence

  • The Payment Agent hereby gives notice of an offer of [prepayment][commitment reduction] made by the Borrower pursuant to Section 2.04(b)(iv) of the Credit Agreement in the [Prepayment Amount] [Revolving Credit Reduction Amount].

Related to Revolving Credit Reduction Amount

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

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • 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.

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Maximum Revolving Credit Amount means $85,000,000.00.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

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

  • Aggregate Revolving Credit Commitment means the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at any given time. The Aggregate Revolving Credit Commitment on the Closing Date is $1,250,000,000.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Revolving Commitment Percentage means, for each Lender, the percentage identified as its Revolving Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6(c).

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • 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 Aggregate Commitment means Eighty Million Dollars ($80,000,000.00), subject to increases pursuant to Section 2.12 hereof up to the Revolving Credit Optional Increase Amount, and subject to reduction or termination under Section 2.11 or 9.2 hereof.

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • 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.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

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

  • Maximum Swingline Amount means $5,000,000.

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Term Loan Commitment Percentage means, for any Lender, the percentage identified as its Term Loan Commitment Percentage on Schedule 2.1(a), as such percentage may be modified in connection with any assignment made in accordance with the provisions of Section 9.6.

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Maximum Revolving Advance Amount means $25,000,000.