UK Protective Advances definition

UK Protective Advances as defined in Section 2.1.6.

UK Protective Advances as defined in Section 2.1.7(b). UK Required Lenders: one or more UK Secured Parties holding more than 50% of (a) the aggregate outstanding UK Revolver Commitments; or (b) following termination of the UK Revolver Commitments, the aggregate outstanding UK Revolver Loans and LC Obligations of UK Borrowers or, if all Revolver Loans and LC Obligations have been paid in full, the aggregate remaining Obligations; provided, however, that Revolver Commitments, Revolver Loans and other Obligations held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation, but any related Fronting Exposure shall be deemed held as a Revolver Loan or LC Obligation by the Secured Party that funded the applicable Revolver Loan or issued the applicable Letter of Credit.

UK Protective Advances has the meaning specified therefor in Section 2.3(d)(i) of the Agreement.

Examples of UK Protective Advances in a sentence

• Lenders shall participate on a Pro Rata basis in UK Protective Advances outstanding from time to time.

• US Protective Advances or UK Protective Advances, as the context requires.

• US Required Lenders may at any time revoke Agent’s authority to make further UK Protective Advances under clause (a) by written notice to Agent.

• Required Lenders may at any time revoke Agent’s authority to make further UK Protective Advances under clause (i) by written notice to Agent.

• Agent shall record on its books the principal amount of the U.K. Advances owing to each Lender, including the U.K. Swing Loans owing to U.K. Swing Lender, and U.K. Protective Advances owing to Agent, and the interests therein of each Lender, from time to time and such records shall, absent manifest error, conclusively be presumed to be correct and accurate.

• UK Lenders shall participate on a Pro Rata basis in UK Protective Advances outstanding from time to time.

• Each U.S. Lender shall participate in each U.S. Protective Advance on a Pro Rata basis, and each U.K. Lender shall participate in U.K. Protective Advances on a Pro Rata basis.

• All UK Protective Advances shall be UK Facility Obligations and secured by the UK Facility Collateral.

• Protective Advances: U.K. Protective Advances and/or U.S. Protective Advances, as the context requires.

• All UK Protective Advances made by the Agent with respect to each UK Domiciled Loan Party shall be UK Facility Obligations of such UK Domiciled Loan Party, secured by the applicable UK Facility Collateral and shall be treated for all purposes as UK Base Rate Loans.

More Definitions of UK Protective Advances

UK Protective Advances as defined in Section 2.1.8(b). UK Required Lenders: one or more UK Secured Parties holding more than 50% of the aggregate outstanding UK Term Loans; provided, however, that Term Loans held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation. UK Non-Bank Lender: (i) each UK Lender on the Original Closing Date and (ii) with respect to a Lender that becomes a party hereto after the Original Closing Date, a Lender which gives a Tax Confirmation in the Assignment and Acceptance which it executes on becoming a party. UK Secured Parties: Agent, UK Lenders and any other holder of UK Obligations.

UK Protective Advances as defined in Section 2.1.8(b). UK Required Lenders: one or more UK Secured Parties holding more than 50% of the aggregate outstanding UK Term Loans; provided, however, that Term Loans held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation. UK Non-Bank Lender: (i) each UK Lender on the Original Closing Date and (ii) with respect to a Lender that becomes a party hereto after the Original Closing Date, a Lender which gives a Tax Confirmation in the Assignment and Acceptance which it executes on becoming a party. UK Secured Parties: Agent, UK Lenders and any other holder of UK Obligations. UK Security Agreement: each debenture, deed of charge or other similar agreement, instrument or document governed by the laws of England and Wales now or hereafter securing (or given with the intent to secure) any Obligations.

UK Protective Advances as defined in Section 2.1.7(b). UK Required Lenders: UK Secured Parties holding more than 50% of (a) the aggregate outstanding UK Revolver Commitments; or (b) following termination of the UK Revolver Commitments, the aggregate outstanding UK Revolver Loans and LC Obligations of UK Borrowers or, if all Revolver Loans and LC Obligations have been paid in full, the aggregate remaining Obligations; provided, however, that Revolver Commitments, Revolver Loans and other Obligations held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation, but any related Fronting Exposure shall be deemed held as a Revolver Loan or LC Obligation by the Secured Party that funded the applicable Revolver Loan or issued the applicable Letter of Credit; and provided further, that so long as there are two or more unaffiliated UK Secured Parties (excluding Defaulting Lenders) holding UK Revolver Commitments, UK Required Lenders must include at least two such unaffiliated UK Secured Parties.

UK Protective Advances as defined in Section 2.1.8(b). UK Required Lenders: one or more UK Secured Parties holding more than 50% of the aggregate outstanding UK Term Loans; provided, however, that Term Loans held by a Defaulting Lender and its Affiliates shall be disregarded in making such calculation.