Designated Net Amount definition

Designated Net Amount means the amount notified by the Company to the Facility Agent upon the establishment of a Multi-account Overdraft as being the maximum amount of Net Outstandings that will, at any time, be outstanding under that Multi-account Overdraft.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Designated Net Amount has the meaning set forth in Section 2.26(b)(ii).

Designated Net Amount has the meaning given to that term in Clause 9.2 (Availability).

Examples of Designated Net Amount in a sentence

Ancillary Facility Lenders and Issuing Banks) shall not restrict any right of an Ancillary Facility Lender to net or set-off in relation to a Multi-account Overdraft Facility, in accordance with the terms of the Senior Facilities Agreement or relevant Pari Passu Debt Document, to the extent that the netting or set-off represents a reduction from a Permitted Gross Amount of that Multi-account Overdraft Facility to or towards its Designated Net Amount.
Ancillary Lenders and Issuing Banks) shall not restrict any right of an Ancillary Lender to net or set off in relation to a Multi Account Overdraft Facility, in accordance with the terms of any Revolving Facility Agreement, to the extent that the netting or set off represents a reduction from a Permitted Gross Amount of that Multi Account Overdraft Facility to or towards its Designated Net Amount.
Ancillary Lenders) shall not restrict any right of an Ancillary Lender to net or set-off in relation to a Multi-account Overdraft Facility, in accordance with the terms of the Credit Facility Documents, to the extent that the netting or set-off represents a reduction from a Permitted Gross Amount of that Multi-account Overdraft Facility to or towards its Designated Net Amount.
Following service of notice under Clause 27.2 (Acceleration), this Clause 32 shall apply to all receipts or recoveries by Ancillary Lenders except to the extent that the receipt or recovery represents a reduction from the Designated Gross Amount for an Ancillary Facility to its Designated Net Amount.
Ancillary Lenders and Issuing Banks) shall not restrict any right of an Ancillary Lender to net or set-off in relation to a Multi-account Overdraft Facility, in accordance with the terms of the Senior Facilities Agreement, to the extent that the netting or set-off represents a reduction from a Permitted Gross Amount of that Multi-account Overdraft Facility to or towards its Designated Net Amount.

More Definitions of Designated Net Amount

Designated Net Amount means, in relation to a Multi-account Overdraft Facility, that Multi‑account Overdraft Facility’s maximum net amount.

Designated Net Amount means the amount notified by the Company to the Agent upon the establishment of a Multi-account Overdraft as being the maximum amount of Net Outstandings that will, at any time, be outstanding under that Multi-account Overdraft.

Designated Net Amount has the meaning given to such term in Clause 6.1(b) (Utilisation of Ancillary Facilities).

Designated Net Amount shall have the meaning provided in Section 2.16(b)(ii)(A).

Designated Net Amount has the meaning set forth in Section 2.16.

Designated Net Amount means, in relation to a Multi-account Overdraft, that Multi-account Overdraft’s “Designated Net Amount” under and as defined in the Initial Revolving Facility Agreement or any Equivalent Provision of any other Credit Facility Agreement.

Designated Net Amount means, in relation to a Multi-account Overdraft Facility, that Multi-account Overdraft Facility's maximum net amount.

Filter & Search

Related Definitions