ABL Excess Availability definition

ABL Excess Availability means “Excess Availability” as defined in the ABL Credit Agreement.
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ABL Excess Availability means, at any time, an amount equal to (a) the ABL Line Cap, minus (b) the aggregate ABL Revolving Exposures of all ABL Revolving Lenders at such time.
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ABL Excess Availability means, at any time, the positive or negative amount equal to (a) the Stipulated ABL Borrowing Base minus (b) the Revolving Exposure.
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Examples of ABL Excess Availability in a sentence

  • After giving effect to all Letters of Credit (as defined under the ABL Credit Agreement) to be issued at, or immediately subsequent to, the establishment of the ABL Credit Agreement, and to the making of the Term Loans hereunder, ABL Excess Availability (as defined under the ABL Credit Agreement) shall be no less than $20,000,000.

  • The Company will not at any time permit ABL Excess Availability to be less than the greater of (a) $80,000,000 (or as such amount shall be increased pursuant to Section 2.09(g) of the ABL Credit Agreement as in effect on the Closing Date) and (b) ten percent (10.0%) of the ABL Maximum Credit Amount (without giving effect to the Term Loan Push-Down Reserve).

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 or (b) ten percent (10%) of the sum of (i) the ABL Loan Cap plus (ii) the lesser of (A) the Facilities and (B) the Term Loan Borrowing Base.

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 and (b) ten percent (10%) of the Global Loan Cap.

  • The Borrower will not permit ABL Excess Availability to be less than or equal to 12.5% of the ABL Line Cap.

  • Permit ABL Excess Availability, at any time, to be less than the greater of (a) 10% of the ABL Commitments and (b) $9,500,000.

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 or30,000,000 and (b) ten percent (10%) of the sum of (i) the ABLGlobal Loan Cap plus (ii) the lesser of (A) the Facilities and (B) the Term Loan Borrowing Base.

  • After giving effect to (i) the making of any Committed Loans (as defined in the ABL Credit Agreement) and the issuance of any Letters of Credit (as defined under the ABL Credit Agreement) under the ABL Credit Agreement, in each case, on the Closing Date and (ii) the making of the Term Loans hereunder and the implementation of any required Term Loan Reserve, in each case on the Closing Date, ABL Excess Availability shall be not less than $22,500,000.

  • For purposes of calculating ABL Excess Availability as of the date hereof, the Lead Borrower, on behalf of the Borrowers, shall certify to the Administrative Agent that all accounts payable, lease payments, payments due under Indebtedness (other than the Obligations), and Taxes are current consistent with current Borrowers’ practices given the COVID-19 environment and excluding good faith disputes and any other items disclosed to the Collateral Agent prior to the Closing Date.


More Definitions of ABL Excess Availability

ABL Excess Availability shall be the amount calculated as “Excess Availability” in the ABL Credit Agreement; provided that in all instances and for all purposes hereunder, such amount shall be net of the Push Down Reserve, if any, and the Availability Block (in each case, without duplication to the extent the Availability Block and Push Down Reserve may already be included in the calculation (including component definitions) of “Excess Availability” in the ABL Credit Agreement.
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ABL Excess Availability means “Availability” as such term is defined in the ABL Credit Agreement.
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ABL Excess Availability means “Excess Availability” as such term is defined in the ABL Credit Agreement. “ABL Lenders” means the “Lenders” (or any analogous term) as defined in the ABL Credit Agreement. “ABL Loan Cap” means the “Loan Cap” as defined in the ABL Credit Agreement.
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ABL Excess Availability means “Availability” as such term is defined in the ABL Credit Agreement. “ABL Intercreditor Agreement” means the Intercreditor Agreement, dated as of the date hereof, by and among the Administrative Agent and the ABL Agent, as acknowledged by the Loan Parties as amended, restated, amended and restated, supplemented or otherwise modified from time to time. “ABL Lenders” means the “Lenders” as such term is defined in the ABL Credit Agreement. “ABL Loan Documents” means the “Loan Documents” as such term is defined in the ABL Credit Agreement.
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ABL Excess Availability shall have the meaning provided to the term “Excess Availability” in the ABL Credit Agreement as in effect on the date hereof. For the avoidance of doubt, calculation of Excess Availability under the ABL Credit Agreement shall in all instances take into account the Wind-up Reserve (if applicable) and the Push Down Reserve.
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Related to ABL Excess Availability

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each day in such period (as calculated by Agent as of the end of each respective day) divided by the number of days in such period.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount or (ii) the Maximum Revolving Advance Amount, minus (b) the sum of (i) the outstanding amount of Advances plus (ii) all amounts due and owing to Borrower's trade creditors which are outstanding beyond normal trade terms, plus (iii) fees and expenses for which Borrower is liable but which have not been paid or charged to Borrower's Account.