Initial Availability definition

Initial Availability means, as of any date of determination after the Initial Certified Conditions have been satisfied, an amount equal to the lesser of (a) $100,000,000 and (b) the sum of (1) one-third of total Commitments hereunder plus (2) the amount of Annualized Pre-Overhead EBITDA generated by the first Geographic Market to have positive monthly Pre-Overhead EBITDA multiplied by three; provided that at any time after the Initial Certified Conditions have been satisfied but are no longer satisfied and any Loans are outstanding (i) Loan Availability shall be immediately reduced to zero and (ii) all outstanding Loans shall be repaid pursuant to Section 2.11(e) and shall remain at zero until such time that the Initial Certified Conditions are again satisfied.
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Initial Availability means the first date on which Material is delivered and installed at a customer field or lab location on a newly developed offering.
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Initial Availability. On or after the Bankruptcy Court’s entry of the Interim Order (as defined below) but prior to the entry of the Final Order (as defined below) and satisfaction of all other applicable conditions precedent described below and in the Commitment Letter (the “Closing Date”), the Borrower may make one or more borrowings of DIP Loans in minimum amounts of $5,000,000 and in a principal aggregate amount up to $35,000,000 (the “Initial Draws”). In addition, the Borrower shall be permitted to make one additional draw prior to entry of the Final Order up to the amount of the first adequate protection interest payment described below (but only when such adequate protection payment is due and payable).
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Examples of Initial Availability in a sentence

  • Parent will not permit the Interest Coverage Ratio as of the last day of any Testing Period, beginning with the Testing Period ending on the last day of the Fiscal Quarter during which the Initial Availability Date occurs, to be less than 2.25 to 1.00.

  • Such new Notes shall be dated the Initial Availability Date and shall otherwise be in the form of the Notes replaced thereby.

  • The Administrative Agent shall notify the Borrower and the Lenders of the satisfaction of the foregoing conditions and the occurrence of the Initial Availability Date, and such notice shall be conclusive and binding.

  • Parent and all Significant Domestic Subsidiaries as of the Initial Availability Date shall guarantee the Secured Obligations pursuant to the Guaranty and Collateral Agreement.

  • It is understood and agreed that the representations and warranties set forth in Section 7.22 and Section 7.23 shall not be made at any time prior to the Initial Availability Date.

  • From and after the Initial Availability Date, the Existing Letters of Credit shall be deemed to be Letters of Credit issued pursuant to this Section 2.07.

  • Products licensed on a subscription basis are deemed delivered upon Initial Availability.

  • Guaranty and Collateral Agreement (as amended, restated, amended and restated supplemented or otherwise modified from time to time, the “Guaranty and Collateral Agreement”), to be dated as of the Initial Availability Date, made by Exterran Corporation, as Parent, Exterran Energy Solutions, L.P., as Borrower, and the other Guarantors party thereto in favor of ▇▇▇▇▇ Fargo Bank, National Association, as Administrative Agent.

  • Initial Availability of a Product means the earlier of: (i) the issuance of a user name and password to Client to access the Product; (ii) the provision of the Product in its hosted environment on behalf of Client by Granicus technical personnel; or (iii) access to the Product by Granicus or third-party services personnel in order to commence configuration or implementation Services on behalf of Client.

  • Separation and Distribution Agreement, in the form delivered and certified to the Lenders pursuant to Section 6.01(c) of the Credit Agreement, as modified from time to time prior to the Initial Availability Date to the extent permitted under Section 6.02(a)(vii) of the Credit Agreement, by and among Exterran Corporation, Exterran General Holdings LLC, Exterran Energy Solutions, L.P., EESLP LP LLC, Exterran Holdings, Inc.


More Definitions of Initial Availability

Initial Availability means that portion of the Aggregate Commitment Amount equal to $40,000,000.
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Initial Availability is One Hundred Twenty-Five Thousand Dollars ($125,000.00), based upon delivery of One Thousand One Hundred Sixty (1,160) shares of stock of Lenawee Bancorp, Inc., plus Eleven Thousand Three Hundred Twenty Dollars ($11,320.00) in cash delivered to Fifth Third by ▇▇▇▇▇▇▇.
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Initial Availability means the first day of the first QUARTER after the earlier of: i) the first commercial sale of a LICENSED PRODUCT, or ii) the later of ** after 510(k) approval is first received for LICENSED PRODUCT or completion of design verification under Section 3.1 (c). Approval of the 510(k) shall be deemed first received when the FDA approves LICENSED PRODUCT for use in connection with both a spinal needle and an epidural needle.
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Initial Availability. During the period commencing on the date (the “Interim Order Entry Date”) of the Bankruptcy Court’s entry of the Interim Order (defined in Annex II attached hereto) and ending on the date the Bankruptcy Court enters the Final Order (defined in Annex II attached hereto) (such period, the “Interim Period”), the Commitments shall be available to the Borrower, subject to (i) delivery by the Debtors of a Budget (defined below) and (ii) compliance with the applicable terms, conditions and covenants described in this Term Sheet in an amount as follows: 1. Revolver Facility, $800,000,000; 2. Delayed-Draw Term Facility, $1,100,000,000; and 3. Term Facility, $800,000,000, or, in each case such other amount as may be approved by order of the Bankruptcy Court, to be made available during the Interim Period in accordance with the Budget (the “Initial Availability”).
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Related to Initial Availability

  • Maximum Availability has the meaning set forth in Section 2.1.1.

  • General Availability means the date a version of Software was first made available to be licensed by Sandvine customers.

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Availability Block means $15,000,000.