Additional Collateral Event definition

Additional Collateral Event shall have the meaning ascribed to such term in Section 5.03(b) hereof.
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Additional Collateral Event means a request by Borrowers to Administrative Agent to include any Approved Financing not already included in the Borrowing Base in the calculation of the Borrowing Base in accordance with Section 5.2.1 without a corresponding Advance being made hereunder.
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Additional Collateral Event means a request by Borrowers to Administrative Agent to include any Approved Financing not already included in the Borrowing Base in the calculation of the Borrowing Base in accordance with Section 6.2 without a corresponding Advance being made hereunder.
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Examples of Additional Collateral Event in a sentence

  • As of such Credit Date, no Default or Event of Default shall have occurred and be continuing or would result from the consummation of the applicable Advance or Additional Collateral Event (and the same shall have been certified by the Borrowers to the Administrative Agent in a certificate signed by an Authorized Officer of the Borrowers).

  • Each Advance and Additional Collateral Event with respect to an Approved Financing is subject to the satisfaction of each of the conditions precedent set forth in Section 6.2 or Section 6.3, as applicable.

  • Lenders’ Commitment to finance any Approved Financing on the terms and conditions set forth in this Agreement shall automatically expire if neither the funding of the initial Advance nor the inclusion of the Approved Financing as part of the Borrowing Base (whether or not an Advance has been made) as a result of an Additional Collateral Event in respect of such Approved Financing occurs on or prior to the expiration of the Loan Availability Period.

  • Borrower Agent may only request either (a) one (1) Advance or (b) one (1) Additional Collateral Event in any seven (7) day period.

  • The initial Advance or in respect of an Approved Additional Collateral Event, the inclusion of the Approved Financing in the Borrowing Base must occur during the Loan Availability Period for such Approved Financing.

  • Without limiting the foregoing, any leasehold estate acquired pursuant to a permitted sale/leaseback shall constitute Additional Collateral, and the closing of such sale/leaseback transaction shall constitute an Additional Collateral Event, for all purposes hereunder.

  • Approval for the applicable Underlying Financing shall have been granted in accordance with Section 7, Borrowers shall have submitted an executed Underlying Financing Specification on or prior to such Credit Date, and Administrative Agent shall have executed such Underlying Financing Specification in relation to such Approved Financing, and, the Advance or Additional Collateral Event shall occur before the Loan Availability Period expires for the applicable Loan.

  • Administrative Agent shall have received legal opinions regarding the Material Underlying Financing Documents and Underlying Financing Security Documents and the Obligors that are available to Borrowers in connection with the Approved Financing funded from such Advance or included in the Borrowing Base as a result of an Additional Collateral Event.

  • After giving effect to the Advance or Additional Collateral Event on such Credit Date, (a) the conditions in the proviso to Section 2.1.1 have been satisfied, and (b) the conditions in Section 4.3 have been satisfied.

  • No Default or Event of Default shall have occurred and be continuing or would result from the consummation of the applicable Advance or Additional Collateral Event (and the same shall have been certified by the Borrowers to the Administrative Agent in a certificate signed by an Authorized Officer of the Borrowers delivered pursuant to Section 6.2.1).


More Definitions of Additional Collateral Event

Additional Collateral Event has the meaning specified in Section 2.13(f).
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Additional Collateral Event. Borrowing Base", "Borrowing Base Certificate", "Eligible Accounts", "Eligible Inventory", "Free Cash Flow", "Maximum Revolving Loan Available Amount", "Minimum Monthly EBITDA", "Monthly Financial Statements, "Over Advance Amount" and "Stationary Term Loan Balance" are hereby added to SECTION 1.1 of the Loan Agreement, such new definitions to read in their entireties as follows: ADDITIONAL COLLATERAL shall have the meaning ascribed to such term in SECTION 7.8 hereof. ADDITIONAL COLLATERAL EVENT shall have the meaning ascribed to such term in SECTION 7.8 hereof.
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Additional Collateral Event has the meaning provided in Section 6.2.1.
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Additional Collateral Event means that the average Excess Availability as of the last Business Day of any two (2) consecutive months is less than $10,000,000.
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Additional Collateral Event shall have the meaning set forth in Section 5.19(b).
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Related to Additional Collateral Event

  • Additional Collateral Any of the following held, in addition to the related Mortgaged Property, as security for a Mortgage Loan: (i) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as security for the repayment of such Mortgage Loan, (ii) third-party guarantees, and (A) all money, securities, security entitlements, accounts, general intangibles, payment rights, instruments, documents, deposit accounts, certificates of deposit, commodities contracts and other investment property and other property of whatever kind or description now existing or hereafter acquired which is pledged as collateral for such guarantee or (B) any mortgaged property securing the performance of such guarantee, or (iii) such other collateral as may be set forth in the Series Supplement.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.

  • Collateral Event means that no Relevant Entity has credit ratings at least equal to the Approved Ratings Threshold.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Original Collateral Sale Date means 8 December 2020.