ABL Line Cap definition

ABL Line Cap shall have the meaning assigned to the term “Line Cap” in the ABL Credit Agreement.
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ABL Line Cap has the meaning assigned to such term in Section 2.01(a).
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ABL Line Cap means, at any time, the lesser of (a) aggregate ABL Revolving Commitments and (b) the ABL Borrowing Base.
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Examples of ABL Line Cap in a sentence

  • A Letter of Credit shall be issued, amended, renewed or extended only if (and on issuance, amendment, renewal or extension of each Letter of Credit the Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall, subject to Sections 2.09(b) and 2.23(f), not exceed $50,000,000, and (ii) the aggregate amount of Credit Extensions shall not exceed the ABL Line Cap.

  • The Borrower will not permit ABL Excess Availability to be less than or equal to 12.5% of the ABL Line Cap.

Related to ABL Line Cap

  • Line Cap means at any time, the lesser of (i) the Aggregate Commitments and (ii) the then-applicable Borrowing Base.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.

  • Maximum Swingline Amount means $5,000,000.

  • Facility Usage means, at the time in question, the aggregate amount of outstanding Loans and LC Obligations at such time.