Senior Working Capital Facility means, with respect to a loan, a senior secured working capital facility incurred by the Obligor of such loan that is prior in right of payment to such loan; provided that the outstanding principal balance and unfunded commitments of such working capital facility does not exceed twenty percent (20%) of the sum of (x) the outstanding principal balance and unfunded commitments of such working capital facility, plus (y) the outstanding principal balance of such loan, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such obligor that is pari passu with such loan.
Senior Working Capital Facility means with respect to an Eligible Asset, a senior secured working capital facility incurred by the Investment Obligor of such Eligible Asset that is prior in right of payment to such Eligible Asset; provided that the outstanding principal balance and unfunded commitments of such working capital facility does not exceed 30% of the sum of (x) the outstanding principal balance and unfunded commitments of such working capital facility, plus (y) the outstanding principal balance of the Eligible Asset, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such obligor that is pari passu with such Eligible Asset.
Senior Working Capital Facility. With respect to a Loan, a working capital facility incurred by the obligor of such Loan; provided that the outstanding principal balance and unfunded commitments of such working capital facility do not exceed 20% of the sum of (x) the outstanding principal balance and unfunded commitments of such working capital facility, plus (y) the outstanding principal balance of the Loan, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such obligor that is pari passu with such Loan.
Examples of Senior Working Capital Facility in a sentence
For the avoidance of doubt, a Senior Secured Loan that can become subordinated to a Senior Working Capital Facility shall not be considered a First-Lien Last-Out Loan.
The minimum EBITDA covenant in Clause 13.15 (b) of the bond terms for the Second Lien Bonds shall be deleted (aligning the financial covenants with Clause 13.15 of the Bond Terms for the Bonds).The maturity of the Second Super Senior Working Capital Facility shall be extended to 30 June 2021.
Access charges are billed in advance and will not be refunded in the event of termination.
As of June 5, 2002, the Company had approximately €23,584,000 and €24,515,000 of capitalized debt issuance costs related to the original Facility and Senior Working Capital Facility, respectively.
On June 5, 2002, the shareholders approved the modification of the Facility and Senior Working Capital Facility.
More Definitions of Senior Working Capital Facility
Senior Working Capital Facility means a senior secured revolving working capital facility, which may be part of the combined facility with a Term Loan Asset (a “Combined Facility”) or may be a stand-alone revolving loan facility; subject to the following criteria: (1) as of the related Cut-Off Date, the committed amount of such senior secured revolving working capital facility is equal to or less than 25% of the Combined Facility; and (2) as of the related Cut-Off Date, the ratio of (x) the sum of the committed amount of such secured revolving working capital facility to (y) the EBITDA of the related Obligor shall not exceed 1.00:1.00.
Senior Working Capital Facility. For the avoidance of doubt, a Senior Secured Loan that can become subordinated to a Senior Working Capital Facility shall not be considered a First-Lien Last-Out Loan.
Senior Working Capital Facility. With respect to any Loan included in the Collateral, a working capital facility incurred by the Obligor; provided that (i) the outstanding principal balance and unfunded commitments of such working capital facility (determined on the date such Loan is acquired or committed to be acquired) does not exceed 20% of the sum of (x) the outstanding principal balance and unfunded commitments of such working capital facility, plus (y) the outstanding principal balance of such Loan, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such Obligor that is pari passu with such Loan, (ii) the ratio of the aggregate commitment of such working capital facility to EBITDA (determined on the date such Loan is acquired or committed to be acquired) is less than or equal to 1.25x, and (iii) the ratio of the aggregate commitment of such working capital plus the outstanding principal balance of other first lien debt to EBITDA (determined on the date such Loan is acquired or committed to be acquired) is less than or equal to 6.50x.
Senior Working Capital Facility is defined in clause (b) of the definition for Permitted Indebtedness.
Senior Working Capital Facility means the facility described in a Senior Working Capital Facility Agreement.
Senior Working Capital Facility means, with respect to a First Lien Bank Loan, a working capital facility incurred by the obligor of such First Lien Bank Loan; provided that as of the related Cut-Off Date (a) the sum of the outstanding principal balance and unfunded commitments of such working capital facility do not exceed 20% of the sum of (x) the outstanding principal balance and unfunded commitments of such working capital facility, plus (y) the outstanding principal balance of the such First Lien Bank Loan, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such obligor that is pari passu with such First Lien Bank Loan, and (b) the ratio of (x) the sum of the committed amount of such working capital facility to (y) “EBITDA” of the related Obligor shall not exceed 1.00 to 1.00.
Senior Working Capital Facility means, with respect to a loan, a senior secured working capital facility incurred by the Obligor of such loan that is prior in right of payment to such loan; provided that the outstanding principal balance and unfunded commitments of such working capital facility does not exceed twenty percent (20%) of the sum of (x) the outstanding principal balance and unfunded commitments of such working capital facility, plus (y) the outstanding principal balance of such loan, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such obligor that is pari passu with such loan. "Servicer Termination Event" means the occurrence of any one or more of the following events: (a) a Bankruptcy Event shall occur with respect to the Applicable Servicer;