Average Excess Availability definition

Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.
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Average Excess Availability means, for any period, an amount equal to the sum of the amount of Excess Availability on each day during such period, as determined by the Administrative Agent, divided by the number of days in such period.
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Average Excess Availability means, with respect to any period of time, the average daily Excess Availability during such period of time.
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Examples of Average Excess Availability in a sentence

  • Such percentages shall be increased or decreased, as the case may be, to the applicable percentage (on a per annum basis) set forth below based on the Quarterly Average Excess Availability for the immediately preceding three (3) month period commencing on the first day of the month of such period.

  • Borrower shall not, as of any month end in which the Average Excess Availability is less than the amount set forth below and corresponding to such month, or as of the end of any month during which an Event of Default occurs or exists, on a cumulative basis for the applicable fiscal year, permit the ratio of (a) EBITDA to (b) Fixed Charges to be less than 1.0 to 1.0.

  • Each Borrowing Base Certificate shall be correct and complete in all material respects and set forth a categorical breakdown of all Accounts and Inventory of the Borrower Parties, a calculation of Eligible Accounts, Eligible Credit Card Receivables, Eligible Inventory, and Eligible Life Insurance Policies as of such last day of the preceding fiscal period and a calculation of Average Excess Availability for the preceding fiscal quarter, fiscal month, or fiscal week, as the case may be.

  • Such percentages shall be increased or decreased, as the case may be, to the applicable percentage (on a per annum basis) set forth below based on the Quarterly Average Excess Availability for the immediately preceding calendar quarter.

  • At any time Average Excess Availability is less than $30 million, permit the Consolidated Fixed Charge Coverage Ratio, as of any Test Period to be less than 1.00 to 1.00.


More Definitions of Average Excess Availability

Average Excess Availability means, as of any date of determination with respect to any period, the sum of daily Excess Availability on each day during the applicable period, divided by the number of days in such period.
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Average Excess Availability means, for any fiscal quarter, the sum of Excess Availability for each day of such fiscal quarter, divided by the actual number of days in such fiscal quarter.
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Average Excess Availability means, (i) at any Adjustment Date, the average daily Excess Availability for the fiscal quarter immediately preceding such Adjustment Date or (ii) on any date that is not an Adjustment Date, the Average Excess Availability on the immediately preceding Adjustment Date.
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Average Excess Availability means, as of the end of each calendar quarter, the daily average amount (calculated for such calendar quarter) of Excess Availability.
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Average Excess Availability means, at any Adjustment Date, the average daily Excess Availability for the calendar quarter immediately preceding such Adjustment Date.
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Average Excess Availability means, for any period, Excess Availability for each day of such period, divided by the number of days in such period.
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Average Excess Availability means, as of any date of determination, the average daily Excess Availability for the immediately preceding Fiscal Quarter. The Administrative Agent shall provide the Lead Borrower with a calculation of Average Excess Availability on the fourth Business Day of each Fiscal Quarter for the immediately preceding Fiscal Quarter upon request of the Lead Borrower, or alternatively, give the Lead Borrower electronic access to the Administrative Agent’s systems to the extent necessary to provide such information.
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