Minimum Available Credit Clause Samples
The Minimum Available Credit clause sets a required minimum amount of credit that must remain accessible to a borrower under a credit facility or loan agreement. In practice, this means the lender must ensure that, at all times, the borrower can draw down at least the specified minimum amount, regardless of other outstanding obligations or draws. This clause ensures the borrower has reliable access to necessary funds, preventing situations where the available credit falls below operational needs or agreed thresholds.
Minimum Available Credit. After giving effect to the Loans and Letters of Credit made or issued on the Closing Date, the Available Credit shall not be less than $25,000,000.
Minimum Available Credit. The Administrative Agent shall have received evidence satisfactory to it that the Available Credit is at least $15,000,000 after giving effect to the transactions contemplated on the Closing Date.
Minimum Available Credit. The Administrative Agent shall be satisfied (based on a Borrowing Base Certificate to be delivered to the Administered Agent on the Closing Date) that, after giving effect to Loans funded on the Closing Date and the application of the proceeds thereof, the Available Credit shall be at least $65,000,000 on the Closing Date (it being understood and agreed that (x) all Real Property set forth on Schedule 7.14 shall constitute Eligible Real Property and (y) the Thai Letter of Credit shall not be deemed a Revolving Credit Outstanding, on the Closing Date, in each case solely for the purpose of calculating the above stated minimum Available Credit).
Minimum Available Credit. On the Effective Date, after giving effect to the initial funding of any Loans, the Issuance of any Letters of Credit hereunder, and the payment by the Borrowers of all fees and expenses described in clause (b) above, Available Credit shall not be less than $100,000,000.