Minimum Amount of Each Borrowing The aggregate principal amount of each Borrowing of Term Loans under any Tranche shall not be less than the Minimum Borrowing Amount. Minimum Age A principal Cardmember must be at least 21 years old and a supplementary Cardmember must be at least 18 years old. Borrowings of more than one Type and Class may be outstanding at the same time provided that there shall not at any time be more than a total of ten Eurodollar Borrowings outstanding. At the time that each ABR Borrowing (including each Swing Line Borrowing) is made, such Borrowing shall be in an aggregate amount equal to $1,000,000 or a larger multiple of $100,000 provided that an ABR Borrowing (including a Swing Line Borrowing) may be in an aggregate amount that is equal to the entire unused balance of the total Commitments of the applicable Class or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.04(f). Minimum Amounts Limitation on Number of Borrowings At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount of $1,000,000 or a larger multiple of $100,000.

Minimum Amount of Each Advance Each Eurodollar Advance shall be in the minimum amount of $5,000,000 (and in multiples of $1,000,000 if in excess thereof), and each Floating Rate Advance shall be in the minimum amount of $5,000,000 (and in multiples of $1,000,000 if in excess thereof), provided, however, that any Floating Rate Advance may be in the amount of the unused Aggregate Commitment. Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule. Maximum Drawing Amount The maximum aggregate amount that the beneficiaries may at any time draw under outstanding Letters of Credit, as such aggregate amount may be reduced from time to time pursuant to the terms of the Letters of Credit. More than one Borrowing may be incurred on any date, provided that at no time shall there be outstanding more than 30 Borrowings of LIBOR Loans under this Agreement. You are probably dealing with an amateur or a charlatan.Minimum Amount of Each Borrowing Maximum Number of Borrowings The aggregate principal amount of each Borrowing of Term Loans or Revolving Credit Loans shall be in a minimum amount of at least the Minimum Borrowing Amount for such Type of Loans and in a multiple of $100,000 (or the Dollar Equivalent thereof) in excess thereof and Swingline Loans shall be in a minimum amount of $500,000 and in a multiple of $100,000 in excess thereof (except that Mandatory Borrowings shall be made in the amounts required by Section 2.1(d) and Revolving Credit Loans to reimburse the Letter of Credit Issuer with respect to any Unpaid Drawing shall be made in the amounts required by Section 3.3 or Section 3.4, as applicable). So if you see anyone talk about achieving high returns and conveniently leave out the drawdown, beware. They understand that it is pointless to talk about returns without also referring to the drawdown. (One measure of this is the Sortino ratio.) In trading, at least, the important metric is therefore not the total profit, but the ratio between profit and drawdown. Making a million dollars is not necessarily a good thing, if you lost two million dollars along the way. The former, not so much.īecause a person who achieves a 20% return is not necessarily a good trader… if he undergoes a 40% drawdown (as an example). It is meaningless to talk about trading profits without also mentioning the drawdown incurred along the way.Ī 20% annual return might seem admirable on the surface, but experienced traders know there’s a big difference between achieving it with a 30% drawdown, versus a 10% drawdown.

Acceptable maximum drawdown