UK Overadvance definition

UK Overadvance as defined in Section 2.1.6(b). UK Overadvance Loan: a UK Base Rate Loan made when a UK Overadvance exists or is caused by the funding thereof.

UK Overadvance as defined in Section 2.1.5.

UK Overadvance means an Overadvance made to or for the account of the UK Borrower.

Examples of UK Overadvance in a sentence

• No funding or sufferance of a UK Overadvance shall constitute a waiver by Agent or UK Lenders of the Event of Default caused thereby.

• Whether or not Borrower Agent submits a Notice of Borrowing, U.K. Borrowers shall be deemed to have requested a Borrowing of U.K. Base Rate Loans in an amount necessary to pay all amounts due Issuing Bank on any U.K. Reimbursement Date and each U.K. Lender shall fund its Pro Rata share of such Borrowing whether or not the U.K. Commitments have terminated, a U.K. Overadvance exists or is created thereby, or the conditions in Section 6 are satisfied.

• If the U.K. Borrower fails to provide any Cash Collateral as required hereunder, U.K. Lenders may (and shall upon direction of Agent) advance, as U.K. Revolver Loans, the amount of the Cash Collateral required (whether or not the U.K. Revolver Commitments have terminated, a U.K. Overadvance exists or the conditions in Section 6 are satisfied).

• Agent may require UK Lenders to fund UK Base Rate Loans that cause or constitute a UK Overadvance as long as the total UK Overadvance does not exceed 10% of the UK Borrowing Base and does not constitute for more than 30 consecutive days without the consent of the Required Lenders.

• All UK Overadvance Loans shall constitute UK Facility Obligations secured by the UK Facility Collateral and shall be entitled to all benefits of the Loan Documents.

More Definitions of UK Overadvance

UK Overadvance has the meaning assigned to such term in Section 2.01(2).

UK Overadvance has the meaning specified therefor in Section 2.5.

UK Overadvance shall have the meaning assigned to such term in Section 2.24.

UK Overadvance has the meaning assigned to such term in Section 2.05(b).

UK Overadvance has the meaning specified therefor in Section 2.5 of the Agreement.

UK Overadvance means, as of any date of determination, that the UK Revolver Usage is greater than any of the limitations set forth in Section 2.1 or Section 2.12.

UK Overadvance means a UK Credit Extension to the extent that, immediately after the making of such UK Credit Extension, the aggregate principal balance of all UK Credit Extensions then outstanding exceeds the UK Loan Cap as then in effect.