Aggregate Elected Revolving Commitment Amount definition
Examples of Aggregate Elected Revolving Commitment Amount in a sentence
The Aggregate Revolving Commitments shall at all times be equal to the least of (i) the Aggregate Maximum Credit Amounts after adjustments resulting from reductions pursuant to Section 2.03(b), (ii) the Aggregate Elected Revolving Commitment Amount after adjustments resulting from increases or reductions pursuant to Section 2.03(d), or (iii) the Borrowing Base as determined from time to time.
Upon any reduction of the Aggregate Maximum Credit Amount that would otherwise result in the Aggregate Maximum Credit Amount being less than the Aggregate Elected Revolving Commitment Amount, the Aggregate Elected Revolving Commitment Amount shall be automatically reduced (ratably among the Revolving Lenders) so that it equals the Aggregate Maximum Credit Amount as so reduced.
Each reduction of the Aggregate Elected Revolving Commitment Amount shall be made ratably among the Revolving Lenders in accordance with each Revolving Lender’s Percentage Share.
Any termination or reduction of the Aggregate Elected Revolving Commitment Amount shall be permanent and may not be reinstated, except pursuant to Section 2.03(d)(i) or (ix).
No increase in the Aggregate Elected Revolving Commitment Amount shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this Section 2.03(d)(iv).
If at any time the Aggregate Maximum Credit Amounts, the Borrowing Base or the Aggregate Elected Revolving Commitment Amount is terminated or reduced to zero, then the Revolving Commitments shall terminate on the effective date of such termination or reduction.
Any termination or reduction of the Aggregate Elected Revolving Commitment Amount shall be permanent and may not be reinstated, except pursuant to Section 2.16(c)(i).
Each reduction of the Aggregate Elected Revolving Commitment Amount shall be made ratably among the Revolving Lenders in accordance with each Revolving Lender’s Revolving Commitment Percentage.
No increase in the Aggregate Elected Revolving Commitment Amount shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this Section 2.16(c)(iv).
The Aggregate Elected Revolving Commitment Amount on the date hereof is $[____________].