Collateral Availability definition

Collateral Availability means, at any time, an amount equal to (i) the Borrowing Base at such time, less (ii) the Total Outstandings at such time.

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Collateral Availability means the excess, if any, of the Borrowing Base in effect on the date of determination over the aggregate outstanding principal amount of Revolving Credit Loans.

Collateral Availability means at any time the remainder of (a) the Borrowing Base minus (b) the sum of (i) the unpaid principal balance of the Loans and all accrued interest, fees and expenses plus (ii) the LC Exposure plus (iii) the Senior Note Reserve.

Examples of Collateral Availability in a sentence

Permit Collateral Availability to be less than $500,000 at any time.
Borrower shall at all times maintain Excess Collateral Availability of no less than an amount equal to the greater of the following (as the case may be, the “Minimum Excess Collateral Availability”): (a) ten percent (10%) of the then-effective Maximum Credit; or (b) $3,000,000.
The Borrower shall deliver to the Agent not later than Wednesday of each week after the Effective Date, a Borrowing Base Certificate prepared as of the close of business on the preceding Friday, PROVIDED, HOWEVER, that so long as Collateral Availability equals or exceeds $5,000,000 and no Default or Event of Default exists, the Borrowing Base Certificate shall be prepared as of the last business day of each month and be delivered on or before the 15th day of the following month.
Under no circumstances shall the Banks be obligated to make any such purchase if after giving effect to such purchase the aggregate outstanding Capital of Receivable Interests would exceed the lesser of the Purchase Limit and Collateral Availability.
A balance of cash, cash equivalents and short-term investments plus Excess Collateral Availability under the Revolving Facility, of not less than $7,500,000, which amount shall include at least $4,000,000 in cash, cash equivalents and short-term investments.

Collateral Availability means, as of any date of determination thereof, the amount by which (a) the Borrowing Base at such time exceeds (b) the Total Exposure at such time.

Collateral Availability means (a) the sum of the US Borrowing Base, the Canadian Borrowing Base, cash balances of Borrower in accounts maintained with an Agent and subject to perfected, first priority Liens in favor of an Agent, less (b) Aggregate Revolving Credit Exposures.

Collateral Availability. Shall have the same meaning as Availability as defined in Section 2-1(b)

Collateral Availability. “Eligible Inventory”, “Excess Availability”, “Ineligible Inventory”, “SF Excess Availability”, “Total Collateral Availability” or “Total Excess Availability,” or amend, or waive a Default arising under, Section 7.01(o), in each case without the prior written consent of Lenders having aggregate Credit Exposures representing at least 66 2/3% of the sum of all Credit Exposures at such time; provided that any increase in the percentage set forth in clause (i) of the definition of “Available Inventory” to above 70% or any increase in the percentage set forth in clause (ii) of the definition of “Available Inventory” to above 85%, or any amendment of the definition of “Available Inventory” that would have the effect of so increasing either or both of such percentages, shall require the prior written consent of each Lender.

Collateral Availability shall have the meaning ascribed to it in Section 2.1.