Term Out Date definition

Term Out Date has the meaning specified in Section 2.22.

Term Out Date means, in the case of each of Section 6.19(a) or Section 6.19(b)(v), as applicable, the last day of the second consecutive quarter as of which the Borrower has failed to satisfy the Consolidated Tangible Net Worth Test or Leverage Test (as applicable). For purposes of illustration (but without limitation of the foregoing), if the Borrower fails to satisfy the Leverage Test as of March 31, 2014 and as of June 30, 2014, the Term-Out Date shall be June 30, 2014, and the first reduction of the Aggregate Commitment pursuant to Section 2.23 shall occur on September 30, 2014.

Term Out Date means either the Syndicated Facility Term Out Date or the Operating Facility Term Out Date, as the context requires.

Examples of Term Out Date in a sentence

• Notwithstanding any other provision hereof to the contrary, no Overdraft Loans shall be available on or after the Operating Facility Term Out Date.

• Once the Equipment Advances are termed out, the Finance Charge Percentage for Equipment Advances shall be fixed at such rate effective as of the Term Out Date.

• If pursuant to the provisions of Section 9.1 or 9.2(e) the Term Out Period shall commence (the date of commencement thereof (as provided in Section 9.1 or 9.2(e), as applicable) is herein referred to as the "Term Out Date"), and the provisions of this Section 2.22 shall apply.

• The commitment fee shall be payable quarterly in arrears on the first day of each calendar quarter for the immediately preceding calendar quarter commencing on the first such date following the date hereof, with a final payment on the Term Out Date or any earlier date on which the Commitments shall terminate.

• Fees determined in accordance with this Section shall accrue daily from and after the date hereof and be payable by the Borrower quarterly in arrears and on cancellation in full of a Credit Facility and on the Term Out Date applicable to such Credit Facility.

More Definitions of Term Out Date

Term Out Date means, with respect to each Revolving Credit Loan, ------------- June 26, 2000, subject, however, in each case, to the renewal provisions set forth in Section 2.10 hereof.

Term Out Date means the date on which the Borrower gives a notice exercising the Term Out Option.

Term Out Date means the date determined in accordance with Clause 2.6 (Term-Out Option).

Term Out Date has the meaning specified in Section 2.1 hereof.

Term Out Date. The meaning specified in Section 2.14(c)(i).

Term Out Date means the date falling 36 Months after the Closing Date.

Term Out Date means, in respect of each Lender, the 364th day following the Effective Date or, in respect of each Extending Lender, in the case of any extension of such date in accordance with Section 2.1, the 364th day (or such lesser period as may be set forth in the Extension Agreement relating to such extension) following the Date of Confirmation;