Senior Working Capital Facility definition

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.
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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.
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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.
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Examples of Senior Working Capital Facility in a sentence

  • Senior Working Capital Facility Agreement between * dated August 20, 2003 and Amendments N° 1 - 7 * Indicates omission of material, which has been separately filed, pursuant to a request for confidential treatment.

  • Any money held under paragraph (a) (including interest) will accrue and be credited with interest at a rate and in the manner that the Senior Working Capital Facility Provider determines would apply to deposits at call (or of any other term specified by the Senior Working Capital Facility Provider) of a similar amount under its normal procedures.

  • Borrower shall not cause or permit any OpCo Loan Party to amend, restate, modify or otherwise supplement any documentation of any OpCo Senior Working Capital Facility or the Commodity Hedging Documentation in any way prohibited by the Intercreditor Agreements (as defined in the OpCo Senior Credit Agreement), other than as permitted under the OpCo Senior Credit Agreement.

  • Limited, the "Sponsors" listed in Part A of Schedule 1 of that agreement, the "Subordinated Lenders" listed in Part B of Schedule 1 of that agreement, the "Mortgagors" listed in Part C of Schedule 1 of that agreement, AWR Lease Co Pty Ltd, the "Lenders" listed in Part D of Schedule 1 of that agreement, the "Hedge Counterparties" listed in Part E of Schedule 1 of that agreement and the "Senior Working Capital Facility Provider" listed in Part F of Schedule 1 of that agreement.

  • The Senior Working Capital Facility Provider may at any time apply any such money in or towards satisfaction of any sum at any time payable by the Borrower to the Senior Working Capital Facility Provider under or in relation to the Senior Working Capital Facility.

  • OBLIGATIONS OF SENIOR WORKING CAPITAL FACILITY PROVIDER AND ACCOUNT BANK (a) The Senior Working Capital Facility Provider and any Lender who is the holder of the Proceeds Account (the "Account Bank") is not under any obligation to monitor or enquire whether any party is in breach of its obligations under any Finance Document.

  • Borrower shall not causeor permitany OpCo Loan Party to amend, restate, modify or otherwise supplement any documentation of any OpCo Senior Working Capital Facility or the Commodity Hedging Documentation in any way prohibited by theIntercreditor Agreements(as defined in the OpCo Senior Credit Agreement), other than as permitted under the OpCo Senior Credit Agreement.

  • The balance of the money held under paragraph (c) (including interest) will only be repayable to the extent that on any date it exceeds the amount of the Secured Money payable to the Senior Working Capital Facility Provider (including without limitation the face value of any outstanding Bank Guarantees and all amounts which are then or may subsequently become contingently owing in respect of any Bank Guarantee).


More Definitions of Senior Working Capital Facility

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;
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Senior Working Capital Facility means the facility described in a Senior Working Capital Facility Agreement.
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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.
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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 94 Revolving Credit Agreement US-DOCS\81066382.481066382.11 #4821-5428-0772 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.
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Senior Working Capital Facility means, with respect to any Collateral Loan, a working capital facility incurred by the related Obligor; provided that (i) the outstanding principal balance and unfunded commitments of such working capital facility (determined on the date such Collateral 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 Collateral Loan, plus (z) the outstanding principal balance of any other debt for borrowed money incurred by such Obligor that is pari passu with such Collateral Loan, (ii) the ratio of the aggregate commitment of such working capital facility to EBITDA (determined on the date such Collateral 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 facility plus the outstanding principal balance of other first lien debt to EBITDA (determined on the date such Collateral Loan is acquired or committed to be acquired) is less than or equal to 6.50x.
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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.
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Related to Senior Working Capital Facility

  • Working Capital means, with respect to the Borrower and the Subsidiaries on a consolidated basis at any date of determination, Current Assets at such date of determination minus Current Liabilities at such date of determination; provided, that, for purposes of calculating Excess Cash Flow, increases or decreases in Working Capital shall be calculated without regard to any changes in Current Assets or Current Liabilities as a result of (a) any reclassification in accordance with GAAP of assets or liabilities, as applicable, between current and noncurrent or (b) the effects of purchase accounting.