Calculation of Availability Sample Clauses

The 'Calculation of Availability' clause defines the method and criteria for determining the operational uptime or accessibility of a service, system, or asset. Typically, this clause outlines the specific metrics, timeframes, and any exclusions (such as scheduled maintenance or force majeure events) that are considered when measuring availability. For example, it may specify that availability is calculated as a percentage of total possible uptime over a given month, excluding pre-agreed maintenance windows. The core practical function of this clause is to provide a clear, objective standard for performance measurement, which helps prevent disputes and ensures both parties have a mutual understanding of service expectations.
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Calculation of Availability. The Availability of the Units shall be calculated by Seller, subject to audit by Buyer, on a monthly basis where the “Availability” of the Units, measured as a percentage, is determined as follows: Availabilitym = TPEm/[(MCCm) x (MNTHHRSm-MAINTHRSm)] where: TPEm is the total amount of Energy (measured in MWh) that the Units could have produced for the month (“m”) to which the calculation applies if the Units had been scheduled at their full Monthly Contract Capacity (“MCC”) for such month (measured in MW) for every hour in which the Units were Available to operate for Buyer less the Energy which is could have been produced due to MAINTHRSm, UNAVAILHRSm, and UNAVAILPRODHRSm (as defined below). To the extent the Units were unavailable to Buyer due to Instructed Operations or Excused Events, the Units shall be deemed to have been Available for purposes of determining TPEm and therefore no deduction is made for such hours. TPEm can be expressed algebraically as follows: TPEm = (MCCm) x (MNTHHRSm-MAINTHRSm-UNAVAILHRSm -UNAVAILPRODHRSm) where: MCCm is the Monthly Contract Capacity of the Units, measured in MW. MNTHHRSm is the total amount of hours for the month. MAINTHRSm is the total amount of hours that the Units were unavailable due to Excused Scheduled Maintenance Outages or Force Majeure declared by Seller during the month, provided that the number of hours of Outages due to Excused Scheduled Maintenance Outages shall not exceed the maximum number of hours per year permitted for Excused Scheduled Maintenance Outages pursuant to Section 3.8(e)(iii) and the number of hours of Outages due to Force Majeure shall not exceed the number of Excused Hours available to the Seller at the end of the applicable month. An Excused Scheduled Maintenance Outage or Force Majeure (declared by Seller) that results in partial Outage of the Units or occurs less than a full hour will count as an equivalent percentage of the applicable hour(s) for this calculation. For example, if the Units’ capacity was reduced by ten percent (10%) for twenty (20) hours due to an Excused Scheduled Maintenance Outage, then the Units shall be deemed unavailable due to an Excused Scheduled Maintenance Outage for two (2) full hours. UNAVAILHRSm, consists of each hour or partial hour in which the Units were unavailable to deliver Energy to Buyer due to (i) a Forced Outage; (ii) an Unexcused Scheduled Maintenance Outage; (iii) Force Majeure declared by Seller, but only to the extent the number of hours...
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Calculation of Availability. To calculate the monthly Availability (expressed as a percentage), the following formula is used each month:
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Calculation of Availability. 2.1 Bibit shall ensure that the Services shall be available for no less than 99.7% per calendar month (“Uptime”). 2.2 For the purposes of calculating availability of the Services, the Uptime and Downtime shall not include any period of Downtime that is the result of scheduled maintenance (including preventative maintenance and hardware of software upgrades), provided that such maintenance is carried out in accordance with paragraph 12 below.
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Calculation of Availability. ▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ Availability shall be calculated during each Measurement Period in accordance with the following formula: Availability = (Total Time – Downtime) x 100% Total Time For example, if the Total Time during the Measurement Period is based on a thirty (30) day month, and the total Downtime during such Measurement Period totaled four (4) hours, the calculation would be: Availability = (43,200 minutes – 240 minutes) x 100% = 99.4% 43,200 minutes
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Calculation of Availability. Without in any way modifying the provisions of the foregoing clause (i), it is hereby agreed that the Administrative Agent shall endeavor to give notice to the Swing Line Lender at any time that the unutilized portion of the Aggregate Commitments is less than the Swing Line Sublimit and to specify in such notice the unutilized portion of the Aggregate Commitments at such time. The Administrative Agent shall endeavor to provide such notice on the same Business Day as making a Loan that reduces availability below the Swing Line Sublimit. This clause (ii) shall not (a) give rise to any liability on behalf of the Administrative Agent, and on any date that a Swing Line Loan is requested, the Swing Line Lender may request confirmation of the unutilized portion of the Aggregate Commitments (but failure of the Administrative Agent to respond to such request shall not relieve the Swing Line Lender of its obligations to make Swing Line Loans hereunder) or (b) imply that the Administrative Agent has any obligation to calculate the outstanding Swing Line Loans (it being understood that the Swing Line Lender shall keep a record of the principal amount of the Swing Line Loans outstanding).
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Calculation of Availability. 1. The Loan Cap (as defined in the Revolving Loan Agreement as in effect on the Closing Date or as otherwise amended after the Closing Date in accordance with the terms of the Intercreditor Agreement): 2. Total Outstandings (as defined in the Revolving Loan Agreement as in effect on the Closing Date or as otherwise amended after the Closing Date in accordance with the terms of the Intercreditor Agreement): 3. Availability (Line 1 minus Line 2): In compliance with Section 7.15(a) of the Credit Agreement? [Yes/No] 1. Consolidated Net Income of Lead Borrower and Subsidiaries: 2. Consolidated Interest Charges: 3. provision for Federal, state, local and foreign income Taxes: 4. depreciation and amortization expenses: 5. non-cash stock compensation: 6. Pro Forma Cost Savings: 7. Other non-recurring expenses which do not represent a cash item: 8. Total of Lines 2 through 7 (to the extent deducted in calculating such Consolidated Net Income): 9. Federal, state, local and foreign income tax credits: 10. non-recurring, non-cash items increasing Consolidated Net Income: 11. Total of Lines 9 through 10 (to the extent included in calculating such Consolidated Net Income): 12. Consolidated EBITDA (Line 1 plus Line 8 minus Line 11): 13. Required Minimum Consolidated EBITDA for the 12 Fiscal Month period ending [__________], 20[___] (or N/A if the outstanding Principal balance of the Obligations equals or is less than $5,000,000): In compliance with Section 7.15(b) of the Credit Agreement? [Yes/No] Except as set forth below, no material changes in GAAP or the application thereof have occurred since [the date of the most recently delivered financial statements to the Lender prior to the date of this Certificate]. [If material changes in GAAP or in application thereof have occurred, the following describes the nature of the changes in reasonable detail and the effect, if any, of each such material change in GAAP or in application thereof in the determination of the calculation of the financial statements described in the Credit Agreement]. 2592103.2
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Related to Calculation of Availability

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the Advance Rates of the Value of each Portfolio Investment (excluding any Cash Collateral held by the Administrative Agent pursuant to Section 2.05(k) or the last paragraph of Section 2.09(a)); provided that: (a) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in a consolidated group of corporations or other entities (collectively, a “Consolidated Group”), in accordance with GAAP, that exceeds 10% of Shareholders’ Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 50% of the Advance Rate otherwise applicable; provided that, with respect to the Portfolio Investments in a single Consolidated Group designated by the Borrower to the Administrative Agent such 10% figure shall be increased to 12.5%; (b) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments of all issuers in a Consolidated Group exceeding 20% of Shareholders’ Equity of the Borrower (which, for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; (c) the Advance Rate applicable to that portion of the aggregate Value of the Portfolio Investments in any single Industry Classification Group that exceeds 20% of Shareholders’ Equity of the Borrower (which for purposes of this calculation shall exclude the aggregate amount of investments in, and advances to, Financing Subsidiaries) shall be 0%; provided that, with respect to the Portfolio Investments in a single Industry Classification Group from time to time designated by the Borrower to the Administrative Agent such 20% figure shall be increased to 30% and, accordingly, only to the extent that the Value for such single Industry Classification Group exceeds 30% of the Shareholders’ Equity shall the Advance Rate applicable to such excess Value be 0%; (d) no Portfolio Investment may be included in the Borrowing Base unless the Collateral Agent maintains a first priority, perfected Lien (subject to Permitted Liens) on such Portfolio Investment and such Portfolio Investment has been Delivered (as such term is used in and to the extent required under Section 7.01(a) of the Guarantee and Security Agreement) to the Collateral Agent, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein; (e) the portion of the Borrowing Base attributable to Performing Non-Cash Pay High Yield Securities, Performing Non-Cash Pay Mezzanine Investments, Equity Interests and Non-Performing Portfolio Investments shall not exceed 20%; (f) the portion of the Borrowing Base attributable to Equity Interests shall not exceed 10% (it being understood that in no event shall Equity Interests of Financing Subsidiaries be included in the Borrowing Base); (g) the portion of the Borrowing Base attributable to Non-Performing Portfolio Investments shall not exceed 15% and the portion of the Borrowing Base attributable to Portfolio Investments that were Non-Performing Portfolio Investments at the time such Portfolio Investments were acquired shall not exceed 5%; and (h) the portion of the Borrowing Base attributable to Portfolio Investments invested outside the United States, Canada, the United Kingdom, Australia, Germany, France, Belgium, the Netherlands, Luxembourg, Switzerland, Denmark, Finland, Norway and Sweden shall not exceed 5% without the consent of the Administrative Agent. As used herein, the following terms have the following meanings:

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Excess Availability Borrowers shall maintain Excess Availability at ------------------- all times of at least $4,500,000.

  • Rounding of Calculations; Minimum Adjustments All calculations under this Section 13 shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest one- hundredth (1/100th) of a share, as the case may be. Any provision of this Section 13 to the contrary notwithstanding, no adjustment in the Exercise Price or the number of Shares into which this Warrant is exercisable shall be made if the amount of such adjustment would be less than $0.01 or one-tenth (1/10th) of a share of Common Stock, but any such amount shall be carried forward and an adjustment with respect thereto shall be made at the time of and together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate $0.01 or 1/10th of a share of Common Stock, or more.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;