Revolving Loan Asset definition

Revolving Loan Asset means a Loan Asset that is a line of credit or contains an unfunded commitment arising from an extension of credit to an Obligor, pursuant to the terms of which amounts borrowed may be repaid and subsequently reborrowed.
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Revolving Loan Asset means a Loan Asset that is not a Term Loan Asset (including a Loan Asset that contains revolving loan or delayed draw term loan provisions).
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Revolving Loan Asset means a Loan Asset that is not a Term Loan Asset and that is a senior secured obligation (including revolving loans, funded and unfunded portions of revolving credit lines and letter of credit facilities, unfunded commitments under specific facilities, letter of credit facilities and other similar loans and investments) that contains an unfunded commitment arising from an extension of credit to an Obligor, pursuant to the terms of which amounts borrowed may be repaid and subsequently reborrowed; provided that a Loan Asset will be a Revolving Loan Asset only to the extent of undrawn commitments of the Borrower and until all commitments to make advances to the related Obligor expire or are terminated or irrevocably reduced to zero.
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Examples of Revolving Loan Asset in a sentence

  • Within fourteen (14) days of the day of the Event, the User may terminate this Agreement by written notice to the District.

  • Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, prior to the end of the Reinvestment Period, the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.

  • As of any date of determination, funds on deposit in the Unfunded Exposure Account may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, prior to the occurrence of an Event of Default (that has not been waived), the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.

  • As of any date of determination, funds on deposit in the Unfunded Exposure Account may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, prior to the occurrence and continuance of an Event of Default (that has not been waived), the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.

  • Any such draw request made by an Obligor, along with wiring instructions for the applicable Obligor, shall be forwarded by the Borrower or the Servicer to the Trustee (with a copy to the Agent) in the form of a Disbursement Request, and the Trustee shall instruct the Bank to fund such draw request in accordance with the Loan Agreement pertaining to such Revolving Loan Asset or Delayed Draw Loan Asset.

  • The Borrower has no Indebtedness, secured or unsecured, direct or contingent (including guaranteeing any obligation), other than (i) Indebtedness incurred under the terms of the Transaction Documents, (ii) Indebtedness incurred pursuant to certain ordinary business expenses arising pursuant to the transactions contemplated by this Agreement and the other Transaction Documents and (iii) any obligation to fund any Loan Asset constituting a Revolving Loan Asset or a Delayed Draw Loan Asset.

  • The Transferor may deposit amounts up to the Unfunded Exposure Amount under any Revolving Loan Asset or Delayed Draw Loan Asset Pledged to the Collateral Agent under the Loan and Servicing Agreement into the Unfunded Exposure Account.

  • As of any date of determination, funds on deposit in the Unfunded Exposure Account may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, prior to the occurrence of an Event of Default, the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.

  • Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, prior to the occurrence of an Event of Default, the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.

  • Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of USActive 52762757.1552762757.22 57 the relevant Obligors under any Revolving Loan Asset or Delayed Draw Loan Asset; provided that, prior to the end of the Reinvestment Period, the amount withdrawn to fund such draw request shall not create any Borrowing Base Deficiency.


More Definitions of Revolving Loan Asset

Revolving Loan Asset means a Loan Asset (other than a Delayed Drawdown Loan Asset) that by its terms may require one or more future advances to be made to the related Obligor by the Borrower and which provides that such borrowed money may be repaid and re-borrowed from time to time.
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Related to Revolving Loan Asset

  • 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 Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

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

  • 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 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 Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

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

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • New Revolving Loan Lender shall have the meaning provided in Section 2.14(b).

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

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

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

  • 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 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.

  • 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 Loans as defined in Section 2.4(a).

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

  • Revolving Loan Agreement means that certain Amended and Restated Loan and Security Agreement dated as of the date hereof by and among the Borrower, the lenders from time to time party thereto and the Revolving Loan Administrative Agent.

  • New Revolving Loan has the meaning specified in Section 2.14(a).

  • Swing Loan Commitment means PNC Bank’s commitment to make Swing Loans to the Borrower pursuant to Section 2.1.2 hereof in an aggregate principal amount up to $10,000,000.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • U.S. Revolving Loans means the revolving loans made to the U.S. Borrowers pursuant to Section 2.1(a)(i), or any amendment to this Agreement entered into pursuant to Section 2.5, 2.6 or 2.7, each Agent Advance made to a U.S. Borrower and each U.S. Swingline Loan.

  • 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.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.