Excess Availability definition
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.
Excess Availability means, at any time, an amount equal to (a) the lesser of (i) the Maximum Credit and (ii) the Borrowing Base then in effect minus (b) the Total Utilization of Revolving Commitments.
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 Parent and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Parent and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.
Examples of Excess Availability in a sentence
Each Borrowing Base Certificate shall set forth a categorical breakdown of all Accounts of the Credit Parties and calculations of Eligible Accounts and Eligible Credit Card Receivables as of the last day of such quarter (or month or week), the amount of Inventory and the amount of Eligible Inventory owned by the Credit Parties, the Fair Market Value of all Eligible Real Estate included in the Borrowing Base, and the Average Excess Availability for such quarter (or for such month or week).
More Definitions of Excess Availability
Excess Availability means, as of any date of determination thereof by the Administrative Agent, the result, if a positive number, of:
Excess Availability means, at any time, (a) the Maximum Credit at such time minus (b) the aggregate Revolving Credit Outstandings at such time.
Excess Availability means, as of any date of determination, the excess, if any, of (a) the Loan Cap, over (b) the Total Outstandings.
Excess Availability means, as of any date of determination, the amount equal to Availability.
Excess Availability means, at any time, (a) the Line Cap at such time minus (b) the Revolving Facility Credit Exposure at such time.
Excess Availability means, as of any time the same is to be determined, the amount (if any) by which (a) the lesser of the Borrowing Base as then determined and computed or the Revolving Credit Commitment as then in effect exceeds (b) the aggregate principal amount of Revolving Loans, Swing Loans and L/C Obligations then outstanding.
Excess Availability means the amount, as determined by Agent, calculated at any date, equal to: (a) the Borrowing Base (after giving effect to any applicable Reserves), minus (b) the aggregate outstanding and unpaid principal balance of all Revolving Loans.