Closing Availability Clause Samples
The Closing Availability clause defines the conditions under which the parties must be available to complete the closing of a transaction. Typically, it specifies the date, time, and manner in which the closing will occur, and may require parties to ensure that all necessary documents and representatives are present or accessible, whether in person or remotely. This clause ensures that the closing process proceeds smoothly and on schedule by clarifying logistical expectations and minimizing the risk of delays due to unavailability.
Closing Availability. After giving effect to all Borrowings to be made on the Effective Date, the issuance of any Letters of Credit on the Effective Date and the payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, liabilities, and obligations current, Availability shall not be less than $20,000,000.
Closing Availability. After giving effect to all Borrowings to be made on the Effective Date, the issuance of any Letters of Credit on the Effective Date and the payment of all fees and expenses due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, the Aggregate Availability shall not be less than $38,500,000.
Closing Availability. After giving effect to all Borrowings to be made on the Effective Date, the issuance of any Letters of Credit on the Effective Date and the payment of all fees and expenses due hereunder, Availability shall not be less than $150,000,000.
Closing Availability. After giving effect to all Borrowings to be made on the Second Amendment and Restatement Effective Date and the issuance of any Letters of Credit on the Second Amendment and Restatement Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, Availability shall not be less than $400,000,000.
Closing Availability. On the Effective Date, after giving effect to all Borrowings to be made on the Effective Date and the use of proceeds thereof, the issuance of any Letters of Credit on the Effective Date, the consummation of the Transactions to occur on the Effective Date and the payment of all fees and expenses then due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, Availability shall not be less than $40,000,000.
Closing Availability. After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, the Aggregate Availability shall not be less than $25,000,000 determined on a pro forma basis after giving effect to the Recapitalization Transactions and the Petro Acquisition and assuming (i) all accounts payable of the Borrowers and their subsidiaries have been paid in the ordinary course of business consistent with past business practice, (ii) no Property of the UK Borrower or the Eligible UK Subsidiaries are included in the calculation of Aggregate Availability, and (iii) the advance rate on Eligible Inventory is 65% under each of the borrowing base definitions herein.
Closing Availability. After giving effect to all Borrowings to be made on the Third Restatement Date and the issuance of any Letters of Credit on the Third Restatement Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, Borrowing Base Availability shall not be less than $25,000,000.
Closing Availability. After giving effect to all Borrowings to be made on the Closing Date, the issuance of any Letters of Credit on the Closing Date and the payment of all fees and expenses due hereunder, and except to the extent otherwise contemplated by the Orders, with all of the Loan Parties’ indebtedness, liabilities, and obligations current so long as permitted to be paid in accordance with the Approved Budget, the Availability shall not be less than $20,000,000.
Closing Availability. After giving effect to all Borrowings to be made on the Amendment Effective Date and the issuance of any Letters of Credit on the Amendment Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, Availability shall not be less than $400,000,000.
Closing Availability. After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder and the consummation of the Cliffstar Acquisition and the Transactions, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, the Borrowers’ Aggregate Availability shall not be less than $75,000,000.