Gross Availability definition

Gross Availability means, at any date of its determination, an amount equal to the maximum amount of Unsecured Indebtedness that would result in compliance with the covenants set forth in Sections 8.20(e) and (f) on a pro forma basis.
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Gross Availability means, as of any date of determination, the sum of (a) the Borrowing Base plus (b) any Reserves deducted in computing the Borrowing Base.
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Gross Availability means, as of any date of determination, (a) the sum of (i) the U.S. Borrowing Base as of such date, plus (ii) the Canadian Borrowing Base as of such date, minus (b) the Aggregate Credit Exposure as of such date.
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Examples of Gross Availability in a sentence

  • If the amount outstanding is equal to or greater than the Gross Availability, Availability is 0.

  • The average Gross Availability for each one month period shall not be less than the sum of (a) $5,000,000, plus (b) the Special Reserve, tested on the last day of each calendar month.

  • Bonus Percentage The percentage as stipulated in Schedule 2 (Bonus Percentage), paragraph 3.3. Gross Availability Payment See paragraph 1.1 (Gross Availability Payment) of Schedule 2 (Payment Mechanism).

  • Lender shall have a continuing right to reduce Gross Availability by implementing reserves ("RESERVES"), and to increase and decrease such Reserves, if and to the extent that, in Lender's sole judgment reasonably exercised, such Reserves are necessary to protect Lender against any state of facts which does, or would, with notice or passage of time or both, constitute an Event of Default or have an adverse effect on any Collateral.

  • The Gross Availability Payment (GAP) and the Availability Value shall be indexed on the Contract Date and thereafter once a year on 1 January in accordance with the Indexation Formula given in Schedule 2 (Payment Mechanism), paragraph 1.2 (Indexation of Gross Availability Payment and the Availability Value).


More Definitions of Gross Availability

Gross Availability. The result of the following in the aggregate with respect to all Borrowers:
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Gross Availability is at any time (i) the product of the outstanding amount of Eligible Accounts, multiplied by the Eligible Accounts Percentage set forth in Section 10.1(b), plus: (ii) the product(s) obtained by multiplying the applicable Eligible Inventory Percentage(s), if any, set forth in Section 10.1(b) by the values (based on the lower of cost, market or appraised value) of Eligible Inventory, but the amount so added shall not exceed any sublimits set forth in Section 10.1(c).
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Gross Availability to the extent applicable, shall be calculated at any time as (i) the product obtained by multiplying the outstanding amount of Eligible Accounts, net of all taxes, discounts, allowances and credits given or claimed, by the Eligible Accounts Percentage set forth in Section 10.1(b), plus: (ii) the product(s) obtained by multiplying the applicable Eligible Inventory Percentage(s), if any, set forth in Section 10.1(b) by the values (as determined by Lender based on the lower of cost or market) of Eligible Inventory, but the amount so added shall not exceed any sublimits set forth in Section 10.1(c),
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Gross Availability is at any time (i) the product of the outstanding amount of Eligible Accounts multiplied by the Eligible Accounts Percentage set forth in Section 10.1(b) minus (ii) Reserves.
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Gross Availability means, as of any date of determination, an amount equal to the Borrowing Base without giving effect to the subtraction of any Reserves.
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Gross Availability shall be calculated at any time as the product obtained by multiplying the outstanding amount of Eligible Accounts, net of all taxes, discounts, allowances and credits given or claimed, by the Eligible Accounts Percentage set forth in Section 10.1(b) (subject to the sublimits on availability relating to certain Eligible Accounts, as more fully set forth in Section lO.l(d)), plus: the product(s) obtained by multiplying the applicable Eligible Inventory Percentage(s), if any, set forth in Section 10.1(b) by the values (as determined by Lender based on the lower of cost or market) of Eligible Inventory, but the amount so added shall not exceed any sub-limits set forth in Section lO.l(c), minus: any Reserves.
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Gross Availability shall be calculated at any time as the product obtained by multiplying the outstanding amount of Eligible Accounts, net of all taxes, discounts, allowances and credits given or claimed, by the Eligible Accounts Percentage set forth in Section 10.1(b) minus Reserves.
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