Revolving Facilities definition

Revolving Facilities means collectively the Initial Revolving Facility and each New Revolving Facility and “Revolving Facility” means any such facility individually.

Revolving Facilities means, collectively, the Canadian Revolving Facility and the U.S. Revolving Facility.

Revolving Facilities means, collectively, the Dollar Revolving Facility and the Approved Currency Revolving Facility.

Examples of Revolving Facilities in a sentence

• The Revolving Facilities are not borrowing base facilities and do not require annual or semi-annual reviews.

• Advances (including letters of credit) under the Revolving Facilities can be drawn in either Canadian or U.S. funds and bear interest at the bank’s prime lending rate, bankers’ acceptance discount rates or London Interbank Offered Rates, plus applicable margins.

• Baytex may request an extension of the Revolving Facilities which could extend the revolving period for up to four years (subject to a maximum four-year period at any time).

• Borrowings of more than one Type may be outstanding at the same time; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than (i) five (with an additional two for each new Class, up to a maximum of 10) Eurocurrency Borrowings outstanding under all Term Facilities at any time and (ii) five (with an additional two for each new Class, up to a maximum of 10) Eurocurrency Borrowings outstanding under all Revolving Facilities at any time.

• Borrowings of more than one Type may be outstanding at the same time; provided, however, that the Borrower shall not be entitled to request any Borrowing that, if made, would result in more than (i) 10 Eurocurrency Borrowings outstanding under all Term Facilities at any time and (ii) 10 Eurocurrency Borrowings outstanding under all Revolving Facilities at any time.

More Definitions of Revolving Facilities

Revolving Facilities means the Dollar Revolving Facility, the Multicurrency Revolving Facility and any Revolver Extension Series.

Revolving Facilities means one or more customary bank debt facilities, in each case with banks or other institutional lenders providing for revolving credit loans (including the portion of the Credit Agreement existing on the Issue Date that provides for revolving credit loans), in each case, as amended, extended, renewed, refinanced, restated, repaid, replaced, supplemented or otherwise modified (in whole or in part, and without limitation as to amount, terms, conditions, covenants and other provisions, but, in each case, only to the extent such modified bank debt facility provides for revolving credit loans, and without giving effect to any letters of credit outstanding thereunder) from time to time. For the avoidance of doubt, Revolving Facilities shall exclude any Indebtedness issued in a capital markets transaction, whether publicly or privately made and any Indebtedness that may not be reborrowed when repaid.

Revolving Facilities means a collective reference to (i) the revolving loan facility established pursuant to Section 2.1 and (ii) the Existing Five-Year Facility.

Revolving Facilities has the meaning specified in Section 2.16(a).

Revolving Facilities means (a) the Revolving Credit Facility, (b) any Specified Refinancing Debt constituting revolving credit facility commitments and (c) the aggregate principal amount of the Revolving Credit Lenders’ Extended Revolving Credit Commitments in respect of any Extension, in each case, including the extensions of credit made thereunder.

Revolving Facilities means the U.S. Revolving Facility and the U.K. Revolving Facility and “Revolving Facility” refers to any such facility individually.

Revolving Facilities has the meaning assigned to such term in the definition of “Facility”.