Total Utilization of Class B Revolving Commitments means, as at any date of determination, the aggregate principal amount of all outstanding Class B Revolving Loans.
Total Utilization of Class B Revolving Commitments means, as at any date of determination, the aggregate principal amount of all outstanding Class B Revolving Loans. “Unrestricted Cash or Cash Equivalents” means Cash or Cash Equivalents which are not subject to any Liens or control agreements. “Verification Agent” as defined in the preamble hereto. “Vertical Whole Loan Pass-Through” shall mean a transaction pursuant to which the Borrower sells or transfers all or any portion of the Loan Assets to a special purpose entity that will issue a single tranche of debt or equity securities to an unaffiliated third-party investor in an unrated, non-public transaction; provided, however, that the issuance of a second tranche of debt or equity securities by such special purpose entity solely for purposes of compliance with applicable risk retention rules will not cause such a transaction to fail to be a “Vertical Whole Loan Pass-Through”. “Waterfall Account” means [***] established and maintained in the name of the Borrower at the Account Bank, or such other accounts acceptable to the Agents. “Weekly Distribution Report” means a report, executed by an Authorized Officer of the Servicer and delivered to the Verification Agent, the Facility Agent and the Class B Agent, which attaches a Borrowing Base Report and Certificate and a document or instrument which clearly stipulates, with respect to the proposed disbursement of available funds on a Distribution Date in accordance with Section 0, Section 0 and Section 0, the applicable payees, their wire details and the amounts payable to them. “Weekly Distribution Verification Report” means the report delivered by the Verification Agent to the Directing Agent in the form of 0. “Weighted Average MDR” means as of any date, the weighted average Merchant Discount Rate based on total gross sales for the preceding 12 Monthly Periods.
Examples of Total Utilization of Class B Revolving Commitments in a sentence
A breach of any Financial Covenant shall have occurred; or(i) The Company shall not be in compliance with one or more Financial Covenants and, as of such day, either of the Total Utilization of Class A Revolving Commitments or the Total Utilization of Class B Revolving Commitments shall exceed $0, and (ii) Company has failed to exercise the Repayment Cure in respect thereof.