Draw Limit definition

Draw Limit shall have the meaning provided in Section 2.14(h).
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Draw Limit means the amount Borrower may elect to be available for Loans and Letters of Credit hereunder, provided that the amount elected by Borrower shall not, once so elected, be increased without the consent of Administrative Agent in its sole discretion.
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Draw Limit has the meaning set forth in Section 2.03.
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Examples of Draw Limit in a sentence

  • The third known occurrence of Licensee’s power usage exceeding the Power Draw Limit (or if Licensee has not remedied the first or second known occurrence) shall constitute an Event of Default.

  • For the first known occurrence of Licensee’s power usage exceeding the Power Draw Limit, Licensor may provide notice to Licensee (including, without limitation via email) to decrease the power draw within seventy two (72) hours.

  • For the second known occurrence of Licensee’s power usage exceeding the Power Draw Limit (or if Licensee fails to remedy the power overage after the first notice), Licensor may provide notice to decrease the power draw within seventy two (72) hours and may also invoice Licensee for and Licensee will pay a charge of fifty percent (50%) of its then current monthly Recurring Charge on each power circuit that is over the Power Draw Limit.

  • In such event, Licensee shall decrease its power usage to below the Power Draw Limit within such seventy two (72) hour period.

  • The failure to decrease power usage on each feed to below the Power Draw Limit within such seventy two (72) hours shall constitute an Event of Default.

  • Licensee agrees that the term “Outage” for purposes of power loss shall not include any loss of power which occurs while or because Licensee used power in excess of the Power Draw Limit.

  • The Administrative Agent and the Lenders hereby consent to such Draw Limit and, pursuant to Section 2.07(e) of the Credit Agreement, such amount shall be the new Borrowing Base.

  • When the First Draw Limit has been reached, GCC is required to deposit not less than $350,000 of Items (the "First Replenishment") and may not make or incur any further Intraday Overdrafts until the First Replenishment has been made.

  • When the Second Draw Limit has been reached, GCC is required to deposit not less than $350,000 of Items (the "Second Replenishment") and may not make or incur any further Intraday Overdrafts until the Second Replenishment has been made.

  • The ASAP Maximum Draw Limit prevents Santa ▇▇▇▇ County from drawing down funds from this award for contract cost.


More Definitions of Draw Limit

Draw Limit. The meaning specified in the RCCA Agreement.
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Related to Draw Limit

  • Facility Limit means, $175,000,000, as reduced or increased from time to time pursuant to the terms hereof. References to the unused portion of the Facility Limit shall mean, at any time of determination, an amount equal to (x) the Facility Limit at such time, minus (y) the Aggregate Capital at such time.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Daily Maximum Limit means the maximum allowable discharge of a pollutant during a calendar day. Expressed as units of mass, the daily discharge is cumulative mass discharged over the course of the day. Expressed as a concentration, it is the arithmetic average of all measurements taken that day.

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).

  • Maximum Incremental Amount means, at any time, the sum of (a) $1,400.0 million minus the Dollar Equivalent amount (measured at the time of incurrence) of New Term Loans, New Revolving Commitments and Permitted Alternative Incremental Facilities Debt previously established or incurred in reliance on this clause (a) plus (b) the aggregate Dollar Equivalent amount (measured at the time of prepayment or reduction) of Term Loans and Revolving Commitments outstanding on the Closing Date (or established pursuant to clause (a) above) that are optionally prepaid or optionally reduced (other than with the proceeds of long-term Indebtedness (other than borrowings under any revolving credit facility) and other than Revolving Commitments replaced with New Revolving Commitments) following the Closing Date and on or prior to such time (and, in the case of any prepayment of Term Loans pursuant to Section 2.08(d), based on the Dollar Equivalent amount (measured at the time of each applicable prepayment) expended by the Borrowers pursuant to such Section 2.08(d) and not the principal amount) plus (c) an unlimited amount so long as, in the case of this clause (c) only, on a pro forma basis (including the application of proceeds therefrom but excluding any increase in cash and cash equivalents and treating any New Revolving Commitments established pursuant to this clause (c) as fully drawn and all Permitted Alternative Incremental Facilities Debt incurred pursuant to this clause (c) as secured by Liens whether or not actually secured (but without giving effect to any substantially simultaneous incurrence of any New Term Loans, New Revolving Commitments or Permitted Alternative Incremental Facilities made pursuant to the foregoing clauses (a) and (b))), the Consolidated Secured Debt Ratio would not exceed 3.00 to 1.00 (it being understood that the Borrowers shall be deemed to have used amounts under clause (c) (to the extent compliant herewith) prior to utilization of amounts under clause (a) or (b)).