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

• 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.

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

• Subject to the terms and conditions hereof, the Borrower may make Drawdowns under a Credit Facility in respect of the Commitments of a given Lender prior to, and only prior to, the Term Out Date applicable thereto.

• Borrower shall not have the option to convert the interest rate on the DLOC to the DLOC Fixed Rate following the DLOC Term Out Date.

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 has the meaning set forth in Section 2.13(c).

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

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;

Term Out Date means the date which is 3 Business Days after the date on which the Borrower gives a notice exercising the Term Out Option.

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