Revolving Facility Sublimit definition
Examples of Revolving Facility Sublimit in a sentence
Both before and immediately after giving effect to the applicable Revolving Borrowing or the issuance of the applicable Letter of Credit, (i) the Dollar Equivalent of the total LC Exposure plus the outstanding principal amount of all Revolving Advances shall not exceed the Aggregate Commitments and (ii) the Dollar Equivalent of the total LC Exposure in respect of Financial Letters of Credit plus the outstanding principal amount of all Revolving Advances shall not exceed the Revolving Facility Sublimit.
Each conversion of Revolving Advances comprising part of the same Revolving Borrowing shall be made ratably among the Lenders in accordance with their applicable Commitments in respect of the Revolving Facility Sublimit.
At no time shall (i) the aggregate outstanding principal amount of the Revolving Advances of all of the Lenders plus the aggregate LC Exposure (or the Dollar Equivalent thereof) of all of the Lenders exceed the Aggregate Commitments or (ii) the aggregate outstanding principal amount of the Revolving Advances of all of the Lenders plus the aggregate LC Exposure (or the Dollar Equivalent thereof) in respect of Financial Letters of Credit exceed the Revolving Facility Sublimit.
The Tender Period Revolving Loans shall be subject to the limitation that in no event shall the Total Utilization of Tender Period Revolving Facility exceed the Tender Period Revolving Facility Sublimit.
Each Lender severally agrees, subject to the limitations set forth below with respect to the maximum amount of Tender Period Revolving Loans permitted to be outstanding from time to time, to lend to Company from time to time during the period from the Closing Date to but excluding the Merger Date an amount not exceeding its Pro Rata Share of the lesser of (a) the Tender Period Revolving Facility Sublimit, and (b) the Borrowing Base then in effect to be used for the purposes identified in subsection 2.5B.
Reductions of Revolving Loan Commitments and Tender Period Revolving Facility Sublimit.