Working Capital Revolving Credit Commitment definition

Working Capital Revolving Credit Commitment as to any Bank, its obligation to make Working Capital Revolving Credit Loans pursuant to subsection 2.1(a) in an aggregate principal amount not to exceed the amount set forth opposite such Bank's name in Schedule I under the caption "Working Capital Revolving Credit Commitment", as the same may be reduced pursuant to subsection 2.4, collectively, as to all the Banks, the "Working Capital Revolving Credit Commitments". The original aggregate amount of the Working Capital Revolving Credit Commitments is $50,000,000.
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Working Capital Revolving Credit Commitment means, as of any date of determination, the lesser of: (i) the Borrowing Base as of such date, and (ii) the sum of $6,500,000, or such other amount to which the Working Capital Revolving Credit Commitment may be modified from time to time pursuant to the terms hereof. As the context requires, "Working Capital Revolving Credit Commitment" also refers to the obligation of the Lender to make Working Capital Revolving Loans and issue Facility LC's under the Working Capital Revolving Loan Facility.
Sample 1
Working Capital Revolving Credit Commitment means the sum of $8,000,000, as such amount may be modified from time to time pursuant to the terms hereof. As the context requires, "Working Capital Revolving Credit Commitment" also refers to the obligation of the Lender to make Working Capital Revolving Loans to the Borrower under the Working Capital Revolving Loan Facility.
Sample 1

Examples of Working Capital Revolving Credit Commitment in a sentence

  • Upon receipt of any such notice from the Borrower, the Administrative Agent shall promptly notify each Lender having a Working Capital Revolving Credit Commitment thereof.

  • As of the Effective Date, the parties agree that the Working Capital Revolving Credit Commitment will be subject to a borrowing base limitation equal to eighty-five percent (85%) of the Eligible Accounts (as hereafter defined).

  • For purposes of this Section 2.12, all outstanding Working Capital Revolving Loans, Working Capital Term Loans and Facility LC's shall be regarded as usages of the Working Capital Revolving Credit Commitment, and all outstanding Acquisition Loans and Acquisition Term Loans shall be regarded as usages of the Acquisition Loan Commitment.

  • Each reduction of the Working Capital Revolving Credit Commitment shall be accompanied by payment to the extent that the principal amount of Revolving Credit Outstandings under the Working Capital Line of Credit plus Letter of Credit Outstandings exceeds the lesser of the Working Capital Revolving Credit Commitment as reduced under this Section 2.1(h) or the Borrowing Base.

  • The Borrower shall, by notice from an Authorized Representative, have the right from time to time upon not less than three (3) Business Days' written notice to the Lender, effective upon receipt, to reduce the Working Capital Revolving Credit Commitment.

  • The Borrower has all requisite power and authority and has been duly authorized to increase the amount of the Working Capital Revolving Credit Commitment, to borrow under the Working Capital Revolving Credit Facility (as increased hereby), and to execute, deliver and perform its obligations under this Amendment, the Credit Agreement (as amended by this Amendment) and the Replacement Working Capital Revolving Note.

  • Each Lender holding a Working Capital Revolving Credit Commitment hereby acknowledges that the provisions of this Section 12 shall apply to Xxxxx Fargo, in its capacity as issuer of the Letters of Credit, in the same manner as such provisions are expressly stated to apply to the Administrative Agent.

  • In consideration of the temporary increase in the Working Capital Revolving Credit Commitment, the Borrower agrees to pay the Lender a one-time fee of $15,000.

  • Subject to the other terms and conditions set forth in this Agreement, and as evidenced by the Working Capital Revolving Note, the Lender agrees to make available to Borrower, until the Revolving Credit Maturity Date, Advances under the Working Capital Revolving Line of Credit in an aggregate amount outstanding at any time not to exceed the lesser of the Working Capital Revolving Credit Commitment and the Borrowing Base.

  • During the Working Capital Revolving Credit Commitment Period, the Borrower may use the Swing Line Commitment by borrowing, prepaying the Swing Line Loans in whole or in part, and reborrowing, all in accordance with the terms and conditions hereof.


More Definitions of Working Capital Revolving Credit Commitment

Working Capital Revolving Credit Commitment means the commitment of the Bank to lend pursuant to Section 2.1 and its subparagraphs."
Sample 1
Working Capital Revolving Credit Commitment as to any Lender, the obligation of such Lender to make Working Capital Revolving Credit Loans to and/or issue or participate in Letters of Credit issued on behalf of the Borrower hereunder and/or to participate in Swing Line Loans in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender's name on Schedule 1.1 under the heading "Working Capital Revolving Credit Commitment", as such amount may be reduced from time to time in accordance with the provisions of this Agreement.
Sample 1

Related to Working Capital Revolving Credit Commitment

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Incremental Revolving Credit Commitment means the commitment of any Lender, established pursuant to the Credit Agreement, to make available certain revolving credit loans to one or more Borrowers.

  • Incremental Revolving Credit Commitments has the meaning set forth in Section 2.14(a).

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Extended Revolving Credit Commitments has the meaning set forth in Section 2.16(b).

  • Initial Revolving Credit Commitment means, with respect to any Person, the commitment of such Person to make Initial Revolving Loans (and acquire participations in Letters of Credit and Swingline Loans) hereunder as set forth on the Commitment Schedule, or in the Assignment Agreement pursuant to which such Person assumed its Initial Revolving Credit Commitment, as applicable, as the same may be (a) reduced from time to time pursuant to Section 2.09 or 2.19, (b) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 9.05 or (c) increased pursuant to Section 2.22. The aggregate amount of the Initial Revolving Credit Commitments as of the Closing Date is $75,000,000.

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.

  • U.S. Revolving Credit Commitment means, (a) with respect to each Lender that is a Lender on the Closing Date, the amount set forth opposite such Lender’s name on Schedule 1.1(c) as such Lender’s “US Revolving Credit Commitment” and (b) in the case of any Lender that becomes a Lender after the Closing Date, the amount specified as such Lender’s “US Revolving Credit Commitment” in the Assignment and Acceptance pursuant to which such Lender assumed a portion of the US Total Revolving Credit Commitment, in each case of the same may be changed from time to time pursuant to terms hereof. The aggregate amount of the US Revolving Credit Commitment as of the Closing Date is $100,000,000.

  • Additional Revolving Credit Commitments means any revolving credit commitment added pursuant to Sections 2.22, 2.23 and/or 9.02(c)(ii).

  • New Revolving Credit Commitments shall have the meaning provided in Section 2.14(a).

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Existing Revolving Credit Commitments shall have the meaning provided in Section 2.15(a)(ii).

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Aggregate Revolving Credit Commitments means, at any time, the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at such time.

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Unused Revolving Credit Commitment of any Lender, at any time, means the remainder of the Revolving Credit Commitment of such Lender at such time, if any, less the sum of (a) the aggregate Outstanding Amount of Revolving Loans made by such Lender, (b) such Lender’s LC Exposure at such time and (c) except for purposes of Section 2.12(a), such Lender’s Applicable Percentage of the aggregate Outstanding Amount of Swingline Loans.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Refinancing Revolving Credit Commitments means one or more Classes of Revolving Credit Commitments hereunder that result from a Refinancing Amendment.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.