Revolving Deposits definition

Revolving Deposits. With respect to any Payment Date during the Revolving Period, all payments that would otherwise be made to Certificateholders in respect of principal [and excess interest] that is deposited in the Revolving Account on such Payment Date.]
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Examples of Revolving Deposits in a sentence

  • Without limiting the generality of the foregoing, each party hereto acknowledges and agrees that the Synthetic Revolving Deposits are and will at all times be solely the property of the Lenders providing Synthetic Revolving Deposits, and no amount on deposit at any time in the Synthetic Revolving Deposit Account (i) shall be the property of either Borrower or any Guarantor or (ii) shall constitute collateral under the Loan Documents.

  • Each Lender may assign, or sell participations in, its Loans, Commitments and Synthetic Revolving Deposits to one or more other Persons in accordance with the terms set forth below.

  • In connection with each assignment of Synthetic Revolving Deposits, the applicable Synthetic Revolving Deposit of the assigning Lender shall not be released, but shall instead be purchased by the relevant assignee and continue to be held for application (to the extent not already applied) in accordance with Article II to satisfy such assignee’s obligations in respect of Synthetic Revolving Loans.

  • Any amounts earned and received with respect to Synthetic Revolving Deposits during any applicable Investment Period in excess of the Base Return shall be for the account of the Administrative Agent.

  • Prior thereto, payments and prepayments of the Loans and refunding of the Synthetic Revolving Deposits shall or may be made as set forth below.

  • Any amounts cancelled under the Commitment related to Synthetic Revolving Loans and the Synthetic Revolving Deposits may not be re-instated and the Synthetic Revolving Loan Commitment Amount will be reduced accordingly.

  • The funding of the Synthetic Revolving Deposits and the agreements with respect thereto set forth in this Agreement constitute arrangements solely among the Administrative Agent and each Lender with a Synthetic Revolving Deposit with respect to the funding and reimbursement obligations of each such Lender under this Agreement, and do not constitute loans, extensions of credit or other financial accommodations to either Borrower or any Guarantor.

  • To induce the Lenders to enter into this Agreement and to make Loans and Synthetic Revolving Deposits hereunder, each Borrower represents and warrants to each Lender as of the Restatement Effective Date as set forth in this Article VI.

  • To induce the Lenders to enter into this Agreement and to make Loans and Synthetic Revolving Deposits hereunder, each Borrower represents and warrants to each Lender as of the date hereof as set forth in this Article VI.

  • The funding of the Synthetic Revolving Deposits and the agreements with respect thereto set forth in this Agreement constitute arrangements solely among the Administrative Agent, each Synthetic LC Issuer and each Lender with a Synthetic Revolving Deposit with respect to the funding and Reimbursement Obligations of each such Lender under this Agreement, and do not constitute loans, extensions of credit or other financial accommodations to either Borrower or any Guarantor.

Related to Revolving Deposits

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

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

  • Letter of Credit Cash Collateral Account means a blocked deposit account at Bank of America with respect to which Borrower hereby grants a security interest in such account to Administrative Agent for and on behalf of Lenders as security for Letter of Credit Usage and with respect to which Borrower agrees to execute and deliver from time to time such documentation as Administrative Agent may reasonably request to further assure and confirm such security interest.

  • Aggregate Outstanding Extensions of Credit as to any Lender with respect to any Type of Loan at any time, an amount equal to the sum of (a) the aggregate principal amount of all Loans of such Type made by such Lender then outstanding and (b) such Lender's Commitment Percentage of the L/C Obligations then outstanding.

  • Revolving Credit Advances has the meaning assigned to such term in Section 2.1.

  • Swing Loan Exposure means, as of any date of determination with respect to any Lender, such Lender’s Pro Rata Share of the Swing Loans on such date.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Letter of Credit Collateral Account means a special deposit account maintained by the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Bank and the Lenders, and under the sole dominion and control of the Administrative Agent.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • Revolving Loan Notes means with respect to any Borrower the promissory notes of such Borrower in favor of each Lender evidencing the Revolving Loans made to such Borrower and substantially in the form of Exhibit 2.7(a), as such promissory notes may be amended, modified, supplemented or replaced from time to time.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

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

  • 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.

  • 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.

  • Revolving Credit Loan has the meaning specified in Section 2.01(b).

  • Revolving Extensions of Credit as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, (b) such Lender’s Revolving Percentage of the L/C Obligations then outstanding and (c) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

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

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Revolving L/C Exposure of any Class shall mean at any time the sum of (a) the aggregate undrawn amount of all Letters of Credit applicable to such Class outstanding at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof) and (b) the aggregate principal amount of all L/C Disbursements applicable to such Class that have not yet been reimbursed at such time (calculated, in the case of Alternate Currency Letters of Credit, based on the Dollar Equivalent thereof). The Revolving L/C Exposure of any Class of any Revolving Facility Lender at any time shall mean its applicable Revolving Facility Percentage of the aggregate Revolving L/C Exposure applicable to such Class at such time. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the International Standby Practices, International Chamber of Commerce No. 590, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the stated amount of such Letter of Credit in effect at such time; provided, that with respect to any Letter of Credit that, by its terms or the terms of any document related thereto, provides for one or more automatic increases in the stated amount thereof, the amount of such Letter of Credit shall be deemed to be the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in effect at such time.

  • Revolving Loan Lender means a Lender with a Revolving Credit Commitment or a Revolving Loan.