Incremental Availability definition

Incremental Availability has the meaning specified in Section 2.15(a).

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Incremental Availability means the additional amount available to be borrowed by the Borrowers based upon the difference between the Tranche A-1 Borrowing Base and the Tranche A Borrowing Base, as reflected on the most recent Borrowing Base Certificate delivered by the Lead Borrower to the Administrative Agent pursuant to Section 6.01(e) hereof.

Incremental Availability means the “Incremental Availability” as defined in the ABL Credit Agreement.

Examples of Incremental Availability in a sentence

Each Incremental Lender’s Incremental Term Loan Commitment shall (1) be reduced upon the making of an Incremental Term Advance by such Incremental Lender, by the amount of such Incremental Term Advance and (2) terminate immediately and without further action on the last day of the Incremental Availability Period.
If any Tranche A-1 Loan is prepaid in part pursuant to Section 2.08, any Revolving Loans thereafter requested shall be Tranche A-1 Loans until the maximum principal amount of Tranche A-1 Loans outstanding equals the lesser of Incremental Availability or Tranche A-1 Commitments and thereafter all Revolving Loans shall be Tranche A Loans.
The Lead Borrower may request, and the Swingline Lender may make, a Swingline Loan notwithstanding that the Borrowers have not borrowed the full amount of the lesser of the FILO Commitments or Incremental Availability at the time of such request.
Notwithstanding anything to the contrary herein, the amount of any requested Revolving Commitment Increase shall not exceed (i) the Incremental Availability at such time, minus (ii) the aggregate amount of FILO Incremental Commitments to be established, or FILO Incremental Loans to be made, at such time pursuant to Section 2.15(b) (the “Incremental Revolving Availability”).
Notwithstanding anything to the contrary herein, the aggregate amount of any requested FILO Incremental Facility shall not exceed (i) the Incremental Availability at such time, minus (ii) the aggregate amount of any Revolving Commitment Increase to be established at such time pursuant to Section 2.15(a) (the “Incremental FILO Availability”).

More Definitions of Incremental Availability

Incremental Availability as defined in the ABL Credit Agreement.

Incremental Availability means, Canadian Incremental Availability or Domestic Incremental Availability, as applicable, and collectively means the sum of both of them.

Incremental Availability means, at any time of determination, an amount equal to the greater of (a) $600,000,000 minus the aggregate amount of the sum of (i) all Revolving Commitment Increases, and (ii) all FILO Incremental Facilities, in each case, made or established prior to such time pursuant to Section 2.15 or 2.16, as applicable, in reliance on this clause (a), and (b) the amount by which the Revolving Borrowing Base at such time exceeds the Aggregate Revolving Loan Commitments at such time.

Incremental Availability means the incremental increase in Availability resulting from any increase in the Borrowing Base hereunder.

Incremental Availability. The additional amount available to be borrowed by the Borrowers based upon the difference between the Last Out Borrowing Base and the Borrowing Base, as reflected on the most recent Borrowing Base Certificate delivered by the Borrowers to the Administrative Agent pursuant to Section 5.4 hereof, but in no event an amount greater than the Last Out Commitments.

Incremental Availability means, as of any date of determination, the excess of (a) the Adjusted Borrowing Base, over (b) the Borrowing Base.

Incremental Availability means, at any time of calculation, an amount equal to the product of (i) 10% multiplied by (ii) the Appraised Value of Eligible Inventory of the Domestic Borrowers, net of Inventory Reserves, multiplied by (iii) the Cost of Eligible Inventory of the Domestic Borrowers.

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