Asset Availability definition

Asset Availability means the sum of [i] eighty-five percent (85%) of Eligible Accounts that are unpaid not more than ninety (90) days after the due date specified in the original invoice, or for more than one hundred twenty (120) days after invoice date if no due date was specified or if such due date is more than thirty (30) days beyond the specified invoice date, [ii] sixty percent (60%) of Eligible Accounts that remain unpaid more than ninety (90) days but not more than one hundred eighty (180) days after the due date specified in the original invoice (or for more than one hundred twenty (120) days or two hundred ten (210) days, respectively, after invoice date if no due date was specified or if such due date is more than thirty (30) days beyond the specified invoice date), and [iii] fifty percent (50%) of Eligible Inventory, up to a maximum of $750,000. For purposes of determining Asset Availability pursuant to clauses [i] and [ii] above, any otherwise Eligible Account not billed within 30 days after the services giving rise to same were rendered or goods were shipped nevertheless shall be deemed to have been billed, and the related invoice dated, as of such thirtieth day.
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Asset Availability means the time that the Triglyceride Oil Facility is available and ready to run. When calculating the percentage of Asset Availability, the denominator shall be 365 days, and the numerator shall be 365 days less the time that the Triglyceride Oil Facility is not available and ready to run for any of the reasons listed below: * Credit will be given for usage problems that reduce but do not completely stop production (eg. a * breakdown that reduces but does not stop throughput at the facility). Specifically excluded from the above is time when equipment is not available due to planned upgrades or modifications agreed by the Parties.
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Asset Availability means such Adjusted Fixed Asset Availability. The Adjusted Fixed Asset Availability will amortize on a monthly basis, on the basis of the applicable Fixed Asset Amortization, commencing on the first day of the first full month following the applicable anniversary of the Amendment No. 3 Effective Date and continuing on the first day of each month thereafter, until the Fixed Asset Availability is subsequently reset (if at all) in accordance with the terms of this paragraph on any subsequent anniversary of the Amendment No. 3
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Examples of Asset Availability in a sentence

  • Attached hereto is a Unencumbered Asset Certificate setting forth a calculation of the Unencumbered Asset Availability after giving effect to the Loan requested hereby.

  • Coinbase and Lender represent, warrant and covenant that any information provided in connection with a Digital Asset Availability Notice shall be shared solely with members of their financing team, solely for purposes of determining the availability of a Required Amount and Coinbase and Lender and Coinbase’s obligations under Section 2 of the General Terms shall apply to such information.

  • Notwithstanding the foregoing, if Borrower has delivered a Digital Asset Availability Notice to Lender by 6:00 PM EST on the Business Day prior to an Order and Lender has not responded to such notice within 1 hour of its receipt, Lender is committed to extending Digital Asset Trade Credits in a number equal to the Required Amount regardless of the market conditions at the time.

  • The Agent shall have received an Unencumbered Asset Certificate dated as of the date of the Closing Date setting forth a calculation of the Unencumbered Asset Availability as of the Closing Date (after giving effect to the Loans made (or to be made) and Letter(s) of Credit issued (or to be issued) on such date) and demonstrating compliance with each of the covenants set forth therein as of the most recent calendar quarter for which Borrower has provided financial statements under §6.4.

  • Immediately and without further notice, the Maximum Credit shall be reduced to the Current Asset Availability Loan Limit.

  • As of any date of determination, the Unencumbered Asset Availability shall be the amount equal to (a) the maximum amount of Term Loans which, when added to all other Unsecured Debt of Parent and its Subsidiaries, would not cause a violation of the covenants set forth in §9.2 and §9.4, minus (b) the Aggregate Outstanding PACE Loan Amount.

  • The Fixed Asset Availability shall be reduced monthly based on a seven (7) year amortization beginning on July 1, 1998.

  • Borrowers hereby acknowledge and agree that until such time as Borrowers deliver each of the items required by this Section 5.19, the Fixed Asset Availability under clause (b)(i) of such definition shall equal $0.

  • Without limiting any other rights of Lender, any insurance proceeds received by Lender at any time may be applied to payment of the Obligations in accordance with Section 6.4 hereof (except, that, in the event that a Cash Dominion Event exists, insurance proceeds received by Lender, at its option, may apply such proceeds to reduce the amount of Revolving Loans outstanding in respect of Fixed Asset Availability which shall permanently reduce the Fixed Asset Availability by such amount).

  • The Agent shall have received an Unencumbered Asset Certificate dated as of the date of the Closing Date setting forth a calculation of the Unencumbered Asset Availability as of the Closing Date (after giving effect to the Loans made (or to be made) and Letter(s) of Credit issued (or to be issued) on such date) and demonstrating compliance with each of the covenants set forth therein as of the most recent calendar quarter for which Borrower has provided financial statements under §6.


More Definitions of Asset Availability

Asset Availability means the positive difference, if any, between (a) the Asset Base Component minus (b) the outstanding Purchase Price of such Purchased Asset on such date of determination.
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Related to Asset Availability

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

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Maximum Availability has the meaning set forth in Section 2.1.1.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.