Borrowing Limitations. Immediately after giving effect to each Advance and each settlement on any Settlement Date hereunder, the aggregate principal balance of the Advances outstanding is less than or equal to the Borrowing Base, and the Aggregate Principal outstanding is less than or equal to the Aggregate Commitment.
Appears in 2 contracts
Sources: Credit and Security Agreement (Acuity Brands Inc), Credit and Security Agreement (Zep Inc.)
Borrowing Limitations. Immediately after giving effect to each Advance and each settlement on any Settlement Date hereunder, the aggregate principal balance of the Advances outstanding to each Borrower is less than or equal to the its Borrowing Base, and the Aggregate Principal outstanding to both Borrowers is less than or equal to the Aggregate Commitment.
Appears in 1 contract