Revolving Facility Outstandings definition
Examples of Revolving Facility Outstandings in a sentence
The occurrence of any conversion of Revolving Facility Advances as provided above in this Clause 28.18 shall be deemed to constitute, for purposes of Clause 33.2 (Break Costs), a prepayment of the respective Revolving Facility Outstandings before the last day of any Term relating thereto.
Promptly following receipt thereof, each Revolving Facility Lender which has sold participations in any of its Revolving Facility Outstandings and Outstanding L/C Amounts (through the Agent) will deliver to each Revolving Facility Lender (through the Agent) which has so purchased a participating interest a participation certificate dated the date of receipt of such funds and in such amount.
Any repayment of any Revolving Facility Outstandings under this Agreement shall be applied first against Revolving Facility Advances and when all Revolving Facility Advances have been repaid in full, to provide cash collateral in respect of any Outstanding L/C Amounts.
Save to the extent contemplated in Clause 8 (Repayment of Revolving Facility Outstandings), any payment required to be made by the Parent or any Obligor under this Agreement shall be calculated without reference to any set-off or counterclaim and shall be made free and clear of, and without any deduction for or on account of, any set-off or counterclaim.
In the event of such notification, the amount which would have been applied in prepaying such C Facility Lender shall instead be applied in prepayment of any non-declining C Facility Lenders on a pro rata basis, and thereafter, in prepayment of the Revolving Facility Outstandings and Secondary Revolving Facility Outstandings in accordance with paragraph (e) below.
In the event of such notification, the amount which would have been applied in prepaying such C Facility Lender shall instead be applied in prepayment of any non-declining C Facility Lenders on a pro rata basis, and thereafter, in prepayment of the Revolving Facility Outstandings in accordance with paragraph (e) below.
Solely for purposes of calculating (1) the maximum availability under the Revolving Facility under Section 2.01(f)(i) of this Agreement and (2) the excess outstandings under Section 2.03(b)(vi)(B) of this Agreement, the amount of the New Development Reserved Commitment shall be included as part of the Total Revolving Facility Outstandings.
Any voluntary prepayment made under Clause 13.1 (Voluntary Prepayment) shall be applied in repayment of any of the Term Facility Outstandings, any Revolving Facility Outstandings or any outstandings in relation to any Additional Facility that is a revolving facility, in whole or in part, as selected by the Parent at its discretion.
If the Revolving Facility Outstandings shall on any date exceed the Borrowing Base, the Borrower, not later than the next Business Day following such date, shall remit to the Administrative Agent an amount equal to such excess, without notice or demand by the Administrative Agent or any Lender.
Each Lender agrees, severally but not jointly, on the terms and subject to the conditions hereinafter set forth, to make Advances to the Borrower and to participate in commercial and standby Letters of Credit for the account of the Borrower from the date hereof through the Facility Termination Date; provided, however, that in no event shall any Lender’s Percentage of the Revolving Facility Outstandings exceed that Lender’s Revolving Commitment.