Revolving Security definition

Revolving Security means any Collateral Debt Security (other than a Delayed Drawdown Collateral Debt Security) that is a loan (including, without limitation, revolving loans, funded and unfunded portions of revolving credit lines and letter of credit facilities, unfunded commitments under specific facilities and other similar loans and investments) that pursuant to the terms of its Underlying Instruments may require one or more future advances (such advances to be made in the currency in which the relevant Collateral Debt Security is denominated) to be made to the borrower by the Issuer; but any such Collateral Debt Security will be a Revolving Security only until all commitments to make advances to the borrower expire or are terminated or reduced to zero.
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Revolving Security means any Collateral Debt Obligation (other than a Delayed Drawdown Obligation) that is a loan (including, without limitation, revolving loans, funded and unfunded portions of revolving credit lines and letter of credit facilities, Unfunded Amounts under specific facilities and other similar loans and investments) that pursuant to the terms of its Underlying Instruments may require one or more future advances (such advances to be made in the currency in which the relevant Collateral Debt Obligation is denominated) to be made to the borrower by the Issuer; but any such Collateral Debt Obligation will be a Revolving Security only until all commitments to make advances to the borrower expire or are terminated or reduced to zero.
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Revolving Security means a Collateral Debt Security that is a loan that provides the Obligor thereunder with a revolving credit facility from which one or more borrowings may be made up to the stated principal amount of such revolving credit facility and which provides that borrowed amounts may be repaid and reborrowed from time to time. In the case of any Collateral Debt Security that consists of a combination of a Revolving Security and a term loan, only that portion of the loan which consists of a Revolving Security will be treated as a Revolving Security.
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Examples of Revolving Security in a sentence

  • Kenya has also experienced enormous success in initiating a mobile banking programme called M-Pesa since 2007 provided by Safaricom.

  • The Revolving Note, the Revolving Security Agreement, the Revolving Guaranty and all other documents executed and/or delivered in connection therewith is collectively referred to herein as the “Prepetition Revolving Loan Documents”).

  • We confirm that the Revolving Security Pool Value is [•] and that the Minimum Collateralisation Ratio is [•].

  • Any such request for release shall be deemed approved by the Security Agent unless the Security Agent rejects the request in writing within seven (7) Business Days from the receipt of the request.9.13 The Issuer shall on a bi-weekly basis deliver to the Security Agent lists of receivables that are (i) removed from the Revolving Security Pool and (ii) added to the Revolving Security Pool.

  • We confirm that immediately after the requested Release on the proposed Release Date ([taking into account the nominal principal amount of the Qualifying Receivables referred to in paragraph [8] below] / [taking into account the additional amount that have been deposited to the Blocked Bank Account on or before the Release Date referred to in paragraph [9] below): (a) the Revolving Security Pool Value is [ ].

Related to Revolving Security

  • Outstanding Dollar Principal Amount has the meaning specified in the Indenture.

  • Revolving Credit Note means a promissory note of the Borrower payable to any Revolving Credit Lender or its registered assigns, in substantially the form of Exhibit C-2 hereto, evidencing the aggregate indebtedness of the Borrower to such Revolving Credit Lender resulting from the Revolving Credit Loans made by such Revolving Credit Lender.

  • U.S. Revolving Credit Commitment shall have the meaning assigned to such term in Section 2.1(c).

  • 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 Standard 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.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Revolving Credit Notes means the separate Revolving Credit Notes made by the Borrower payable to the order of each Lender, substantially in the form of Exhibit A hereto, evidencing the Credit Facility, and any amendments and modifications thereto, any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part; "Note" means any of such Revolving Credit Notes.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

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

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

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

  • Outstanding Credit Exposure means, as to any Bank at any time, the sum of (i) the aggregate principal amount of its Loans outstanding at such time, plus (ii) an amount equal to its Pro Rata Share of the LC Obligations at such time.

  • Revolving Line Maturity Date is that date which is two (2) years following the Effective Date.

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the date hereof is $250,000,000.

  • Competitive Loan Exposure means, with respect to any Lender at any time, the sum of the aggregate principal amount of all outstanding Competitive Loans made by such Lender.

  • Revolving Credit Exposure means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s Revolving Loans and its LC Exposure and Swingline Exposure at such time.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.

  • 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.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Loan Outstandings means, at any time of calculation, (a) the then existing aggregate outstanding principal amount of Revolving Loans, and (b) when used with reference to any single Lender, the then existing outstanding principal amount of Revolving Loans advanced by such Lender.

  • 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 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.

  • Additional Revolving Credit Commitments means any revolving credit commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(ii).

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Principal Amount Outstanding means, in respect of a Covered Bond on any day the principal amount of that Covered Bond on the relevant Issue Date thereof less principal amounts received by the relevant Covered Bondholder in respect thereof on or prior to that day.

  • Aggregate Revolving Credit Commitments means the Revolving Credit Commitments of all the Lenders.