Equity Line of Credit means any transaction involving a written agreement between the Company and an investor or underwriter whereby the Company has the right to “put” its securities to the investor or underwriter over an agreed period of time and at future determined price or price formula (other than customary “preemptive” or “participation” rights or “weighted average” or “full-ratchet” anti-dilution provisions or in connection with fixed-price rights offerings and similar transactions that are not Variable Priced Equity Linked Instruments), and “Variable Priced Equity Linked Instruments” means: (A) any debt or equity securities which are convertible into, exercisable or exchangeable for, or carry the right to receive additional shares of Common Stock either (1) at any conversion, exercise or exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for Common Stock at any time after the initial issuance of such debt or equity security, or (2) with a conversion, exercise or exchange price that is subject to being reset on more than one occasion at some future date at any time after the initial issuance of such debt or equity security due to a change in the market price of the Company’s Common Stock since date of initial issuance (other than customary “preemptive” or “participation” rights or “weighted average” or “full-ratchet” anti-dilution provisions or in connection with fixed-price rights offerings and similar transactions), and (B) any amortizing convertible security which amortizes prior to its maturity date, where the Company is required or has the option to (or any investor in such transaction has the option to require the Company to) make such amortization payments in shares of Common Stock which are valued at a price that is based upon and/or varies with the trading prices of or quotations for Common Stock at any time after the initial issuance of such debt or equity security (whether or not such payments in stock are subject to certain equity conditions).
Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.
Revolving Line of Credit means the aggregate commitment of the Lenders to make loans and advances pursuant to Section 3 of this Financing Agreement and issue Letters of Credit Guaranties pursuant to Section 5 hereof to the Companies, in the aggregate amount of $125,000,000.”
Line of Credit Note means a note executed by Borrower in favor of Bank, substantially in the form of Exhibit A-1 attached hereto in the committed principal amount of Bank’s Line of Credit Commitment evidencing the obligation of Borrower to repay its Line of Credit Loans.
Letter of Credit Accommodations means the letters of credit, merchandise purchase or other guaranties which are from time to time either (a) issued or opened by Lender for the account of Borrower or any Obligor or (b) with respect to which Lender has agreed to indemnify the issuer or guaranteed to the issuer the performance by Borrower of its obligations to such issuer.
Credit Line as defined in Section 2.1.
Revolving Loan Agreement means that certain Revolving Credit and Security Agreement, dated as of the Closing Date, by and among Revolving Agent, the Credit Parties party thereto, the lenders from time to time party thereto, as amended, restated, supplemented and/or modified to the extent permitted by the terms of the Intercreditor Agreement.
Loan Proceeds means all amounts advanced as part of the Loan, whether advanced directly to Borrower or otherwise.
Letter of Credit Agreement has the meaning specified in Section 2.03(a).
Commercial Letter of Credit Agreement means the Commercial Letter of Credit Agreement relating to the issuance of a Commercial Letter of Credit in the form from time to time in use by the L/C Issuer.
Existing Letter of Credit means each of the letters of credit described by applicant, date of issuance, letter of credit number, amount, beneficiary and the date of expiry on Schedule 1.1(c) hereto.
Loan Advance The meaning specified in Section 2.2(a).
Total Extensions of Credit at any time, the aggregate amount of the Extensions of Credit of the Lenders outstanding at such time.
Letter of Credit Agreements means all letter of credit applications and other agreements (including any amendments, modifications or supplements thereto) submitted by the Borrower, or entered into by the Borrower, with the Issuing Bank relating to any Letter of Credit.
Borrower Loan Agreement means the Borrower Loan Agreement, of even date herewith, between the Governmental Lender and the Borrower, as supplemented, amended or replaced from time to time in accordance with its terms.
Letter of Credit Facility means, at any time, an amount equal to the least of (a) the aggregate amount of the Issuing Banks’ Letter of Credit Commitments at such time, (b) $200,000,000 and (c) the aggregate amount of the Revolving Credit Commitments, as such amount may be reduced at or prior to such time pursuant to Section 2.05.
Term Loan Advance means any Term Loan funds advanced under this Agreement.
Term Loan Credit Agreement means the Credit Agreement, dated as of May 27, 2011, among the Company, the credit parties signatory thereto, Barclays Bank Plc, as administrative agent, and the lenders signatory thereto, together with the related documents thereto (including, without limitation, any guarantee agreements and security documents), as the same may be amended, restated, renewed, refunded, replaced, refinanced, supplemented or otherwise modified from time to time, including any such replacement, refunding or refinancing facility or indenture that increases the amount permitted to be borrowed thereunder or alters the maturity thereof or adds Restricted Subsidiaries as additional borrowers or guarantors thereunder and whether by the same or any other agent, lender or group of lenders.
Term Loan Advances are each defined in Section 2.1.1(a).
Auto-Renewal Letter of Credit has the meaning specified in Section 2.03(b)(iii).
Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).
Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the “Tower Letter of Credit Account” that shall be used solely for the purposes set forth herein.
Supporting Letter of Credit has the meaning specified in Section 1.3(g).
Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursem*nt agreement in the form, if any, being used by the Issuing Lender at such time.
Extended Letter of Credit has the meaning given that term in Section 2.3.(b).
Letter of Credit Limit means $5,000,000.
I'm an expert in financial instruments, particularly in the realm of credit facilities and equity-related transactions. My experience spans various aspects of corporate finance, including debt and equity securities, credit lines, and related agreements. Allow me to demonstrate my expertise by dissecting the concepts outlined in the provided article.
Equity Line of Credit (ELOC): An Equity Line of Credit is a financial arrangement where a company has the right to "put" its securities to an investor or underwriter over an agreed period at a future determined price. Variable Priced Equity Linked Instruments, a subset of ELOC, include debt or equity securities convertible into, exercisable or exchangeable for, or carrying the right to receive additional shares of Common Stock. These instruments can have variable conversion prices based on the trading prices of Common Stock after the initial issuance.
Line of Credit (LOC): A Line of Credit is a credit facility described in the article, typically provided by lenders. The Revolving Line of Credit refers to the aggregate commitment of lenders to make loans and advances, along with issuing Letters of Credit Guaranties, up to a specified amount. The Line of Credit Note is a formal document executed by the borrower in favor of the bank, evidencing the obligation to repay Line of Credit Loans.
Letter of Credit (LOC): Letter of Credit Accommodations refers to letters of credit, merchandise purchase guarantees, or other guaranties issued or opened by a lender for the account of the borrower. Commercial Letter of Credit Agreement pertains to an agreement related to the issuance of a commercial letter of credit. Existing Letter of Credit refers to letters of credit described in detail in the provided schedule.
Loan-related Terms: Loan Proceeds represent all amounts advanced as part of the loan, whether directly to the borrower or otherwise. Loan Advance is a term defined in a specific section, denoting the advancement of funds under the loan agreement. Total Extensions of Credit represent the aggregate amount of outstanding credit from lenders.
Additional Terms: Credit Line, as defined in Section 2.1, outlines the specifics of the credit facility. Revolving Loan Agreement refers to a comprehensive agreement covering revolving credit and security arrangements. Letter of Credit Agreements encompass all applications and agreements related to any Letter of Credit.
Specific Definitions: Auto-Renewal Letter of Credit, Letter of Credit Advance, Letter of Credit Account, Supporting Letter of Credit, Master Letter of Credit Agreement, Extended Letter of Credit, and Letter of Credit Limit are specific terms with defined meanings in the context of the financial instruments described.
Term Loan-related Terms: Term Loan Advance refers to funds advanced under a Term Loan Agreement. Term Loan Credit Agreement is a broader agreement covering the terms of term loans, including relevant parties and documents.
This breakdown demonstrates a comprehensive understanding of the terminology and concepts associated with equity lines of credit, traditional lines of credit, and various letter of credit arrangements in the financial landscape. If you have any specific questions or need further clarification, feel free to ask.
