Minimum Excess Availability Clause Samples
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Minimum Excess Availability. Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.
Minimum Excess Availability. Borrowers shall at all times maintain Excess Availability equal to the greater of (a) ten percent (10%) of the Revolving Loan Limit and (b) $7,500,000.
Minimum Excess Availability. Excess Availability (determined based upon the Borrowing Base as of August 31, 2014, and Revolving Commitments, Loans and L/C Exposure as of the Closing Date) shall be not less than $200,000,000, all calculated on a pro forma basis to give effect to the Transactions (including the initial Borrowings and issuance of Letters of Credit and assumption of Existing Letters of Credit as of the Closing Date). Notwithstanding the foregoing, to the extent that the execution and delivery of any document or the completion of any task or action is listed on Schedule 5.16, such item shall not be a condition precedent and shall instead be subject to Section 5.16.
Minimum Excess Availability. Maintain on each day Receivables Excess Availability in an amount not less than $10,000,000 and Total Excess Availability in an amount not less than $15,000,000.
Minimum Excess Availability. The Excess Availability of Borrower shall at all times be equal to or greater than $2,000,000."
Minimum Excess Availability. The Borrower will maintain, at all times, a minimum Excess Availability of no less than $5,000,000.
Minimum Excess Availability. The aggregate amount of the Excess Availability of Borrowers shall at all times be equal to or greater than the greater of (a) an amount equal to ten (10%) percent of the Total Borrowing Base and (b) $80,000,000.
Minimum Excess Availability. Section 9.18 of the Loan Agreement is hereby deleted in its entirety and replaced with the following:
Minimum Excess Availability. The Loan Parties shall not permit Excess Availability at any time to be less than the greater of (i) $4,000,000 and (ii) the lesser of $6,000,000 and eight percent (8%) of the ABL Borrowing Base then in effect (without giving effect to any Term Loan Push-Down Reserve).
Minimum Excess Availability. The Credit Parties and their Subsidiaries shall maintain Excess Availability at all times equal or greater than the greater of (i) $3,000,000 and (ii) 7.5% of the Line Cap. Notwithstanding the foregoing, on and after the First Amendment Effective Date, the Credit Parties and their Subsidiaries shall maintain Excess Availability (i) at all times equal or greater than (A) the greater of (i) $3,000,000 and (ii) 7.5% of the Line Cap, plus (B) $3,000,000.