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).
Appears in 4 contracts
Sources: Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.)
Minimum Excess Availability. The Loan Parties shall not permit Excess Availability at any time to be less than the greater of (ia) $4,000,000 and (iib) the lesser of $6,000,000 and eight percent (8%) 7.5% of the ABL Borrowing Base then in effect (without giving effect to any calculated using $0 for the Term Loan Push-Down ReserveReserve regardless of its actual value at the time of determination).
Appears in 4 contracts
Sources: Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.)
Minimum Excess Availability. The Loan Parties shall not permit Excess Availability at any time to be less than the greater of
(a) 10.0% of the Loan Cap or (ib) $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)5,000,000.
Appears in 1 contract
Sources: Credit Agreement (Cato Corp)