Available Floating LC Amount definition

Available Floating LC Amount means, at any time, (a) an amount equal to the Additional LC Capacity, less (b) the aggregate amount of obligations secured by Liens permitted under Section 8.2(q).
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Available Floating LC Amount means, at any time, (a) an amount equal to the Additional LC Capacity, less (b) the aggregate amount of obligations secured by Liens permitted under Section 8.2(q) .
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Available Floating LC Amount shall be equal to (a) the sum of (x) $500 million, plus (y) the lesser of (I) the aggregate amount of any permanent repayment of the Term Loans made pursuant to the fourth paragraph of “Cash Secured Letters of Credit” or the last paragraph of “Mandatory Payments” (which, in the case of increases in respect of the last paragraph of “Mandatory Prepayments,” shall not increase the amount under this clause (a) until after the Term Loans have been repaid in an amount equal to $1,750,000,000.00 and any Term Loans under any Incremental Term Loan Facility have been repaid and (II) $310 million less (z) the aggregate net amount of all increases to the commitments under the LC Facility since the Closing Date (the amount under this clause (a), the “Additional LC Capacity”), less (b) the aggregate amount of letters of credit, bank guarantees and similar obligations issued under bilateral facilities which are secured by Collateral and any other usage of the Available Floating LC Amount. Any Incremental LC Facility will be on terms and pursuant to the documentation applicable to the LC Facility provided that the applicable margin applicable thereto may be increased if necessary to be consistent with that for the Incremental LC Facility. Each Incremental LC Facility may be used solely to provide Performance Letters of Credit for the benefit of the Company and its subsidiaries and (i) such Incremental LC Facility will share on a pari passu basis in the Collateral; (ii) no existing Lender will be obligated to provide any portion of any Incremental LC Facility; and (iii) shall be subject to the conditions that after giving effect thereto (a) no default or event of default exists or would exist after giving effect to any Incremental Facility and (b) all representations and warranties are true and correct in all material respects and would be true and correct in all material respects after giving effect thereto (or, in each case, if such representation or warranty (x) is qualified by or subject to materiality or a “material adverse change,” “material adverse effect” or similar term or qualification, in all respects or (y) expressly relates to a given date or period, shall be true and correct in all material respects (without duplication of any materiality qualifiers set forth therein) as of the respective date or for the respective period, as the case may be).
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Related to Available Floating LC Amount

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Available Funds Shortfall means, for any Payment Date and the related Collection Period, the positive difference, if any, of (i) the amount necessary to make all distributions required to be made pursuant to clauses (i) through (iii) of Section 2.08 over (ii) Collections on deposit in the Collection Account, to the extent received during or in respect of such Collection Period.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.