Global Availability definition

Global Availability means, at any time, the sum (without duplication) of (1) the aggregate amount of cash (or cash equivalents reasonably satisfactory to the Administrative Agent) on the balance sheet of Metaldyne and any of its Subsidiaries at such time net of any outstanding checks or instruments, to the extent such cash (or cash equivalents reasonably satisfactory to the Administrative Agent) can be wire transferred within one Business Day (or two Business Days if such transfer originates from any country whose location relative to the international date line is such that the local calendar date of any day in such country is one day later than the local calendar date of a day in the United States of America) into a deposit account of Metaldyne located in the United States, and (2) Metaldyne’s and its Subsidiaries’ (other than MRFC) aggregate borrowing or other drawing availability at such time with respect to (i) the Credit Agreement, to the extent that funds can be drawn thereunder and wired within one Business Day into a deposit account of Metaldyne located in the United States, (ii) any credit facility provided to Subsidiaries of Metaldyne located outside of the United States, to the extent that funds can be drawn thereunder and wired within one Business Day (or two Business Days if such transfer originates from any country whose location relative to the international date line is such that the local calendar date of any day in such country is one day later than the local calendar date of the same day in the United States of America) into a deposit account of Metaldyne located in the United States (assumed to be $4,000,000 for purposes of this definition), (iii) any factoring facility provided to Subsidiaries of Metaldyne located outside of the United States, to the extent that funds can be drawn thereunder and wired within one Business Day (or two Business Days if such transfer originates from any country whose location relative to the international date line is such that the local calendar date of any day in such country is one day later than the local calendar date of the same day in the United States of America) into a deposit account of Metaldyne located in the United States, and (iv) the Purchase Agreement.

Global Availability means, at any time, the sum of (1) cash (or Cash Equivalents, as such term is defined in the Credit Agreement) on the balance sheet of the Parent and any of its Subsidiaries at such time net of any outstanding checks or instruments, to the extent such cash (or Cash Equivalents, as such term is defined in the Credit Agreement) can be wire transferred within one Business Day into a deposit account of Parent located in the United States, and (2) the Parent's and its Subsidiaries' aggregate borrowing or other drawing availability at such time with respect to (i) the Credit Agreement, to the extent that funds can be drawn thereunder and wired within one Business Day into a deposit account of Parent located in the United States, (ii) any other credit facility provided to Subsidiaries of the Parent located outside of the United States, to the extent that funds can be drawn thereunder and wired within one Business Day into a deposit account of Parent located in the United States, and (iii) the Receivables Purchase Agreement and this Agreement.

Global Availability means, on any date, the sum of (i) Availability under the Agreement on such date plus (ii) unused borrowing availability under the UK Credit Facility on such date.

Global Availability means, at any time, an amount equal to (a) the lesser of the Global Commitment and the Global Borrowing Base, in each case, as in effect at such time minus (b) Combined Credit Exposure as in effect at such time.