Minimum Availability definition

Minimum Availability means, as of any date of determination, the sum of (without duplication) (a) the aggregate principal amount of WC Loans that the Borrowers have available to borrow hereunder as of such date, plus (b) the aggregate principal amount of Revolver Loans that the Borrowers have available to borrow for general corporate purposes hereunder as of such date, plus (c) the aggregate amount of Eligible Cash and Cash Equivalents of the Loan Parties as of such date.

Minimum Availability means, as of any date of determination, the sum of (without duplication) (a) the aggregate principal amount of WC Loans that the Borrowers have available to borrow hereunder as of such date, plus (b) the aggregate principal amount of Revolver Loans that the Borrowers have available to borrow for general corporate purposes hereunder as of such date, plus (c) the aggregate principal amount of WC Interim Loans that the Borrowers have available to borrow hereunder as of such date, plus (d) the aggregate amount of Eligible Cash and Cash Equivalents of the Loan Parties as of such date.

Minimum Availability is defined in Section 10.22.

Minimum Availability means on the Closing Date, at all times thereafter, $1,000,000.

Minimum Availability means the lesser of (a) the Line of Credit Amount less the Letter of Credit Obligations and less the outstanding principal amount of the Line of Credit Advances, or (b) the Borrowing Base less the Letter of Credit Obligations and less the outstanding principal amount of the Line of Credit Advances."

Minimum Availability means on the Closing Date, at all times thereafter, $750,000.

Minimum Availability means, as of any date of determination by Bank, Revolving Credit Availability minus the Revolving Credit Outstandings, and assuming for purposes of calculation, that all accounts payable which remain unpaid more than ninety (90) days after the due dates thereof as of the close of business on such date are treated as additional Revolving Loans outstanding on such date.

Minimum Availability means, at any time of determination, that the total amount of the Unutilized Revolving Loan Commitments shall equal or exceed (i) $15,000,000 at any such time between January 1 and April 30 and between July 1 and November 30 of any year, and (ii) $40,000,000 at any such time between May 1 and June 30 and between December 1 and December 31 of each year, inclusive.

Minimum Availability. Borrower shall have excess availability under the revolving credit facility at closing of not less than $5,500,000 after giving effect to all transactions related to closing, Including all related fees and expenses. Accounts payable must be in a condition satisfactory to Lender. LEXINGTON PRECISION CORPORATION SUMMARY OF TERMS OF CONGRESS/CIT REVOLVING CREDIT FACILITY Amount: $23,500,000.00 Borrowers: Lexington Precision Corporation and Lexington Rubber Group, Inc. Lenders: Congress Financial Corporation and CIT Business Credit, Inc. Availability Formulae: Accounts Receivable: 88% of eligible domestic accounts receivable and 80% of eligible foreign accounts receivable. Inventory: 65% of eligible inventory. Security: First lien on all assets other than real property. Interest Rate: 3.25% over LIBOR or 1 % over the Prime Rate. Funding Fee: $352,500 payable at closing. Contract Term: June 30, 2006. Covenants; Financial covenants (including minimum net worth, minimum EBITDA, and minimum fixed charge coverage) and other affirmative and negative covenants customary for similar transactions. Minimum Availability: Borrower shall have excess availability under the revolving credit facility of not less than $5,500,000 at closing after giving effect to all transactions related to closing, including all related fees and expenses and not less than $3,000,000 thereafter. LEXINGTON PRECISION CORPORATION SUMMARY OF TERMS OF CONGRESS/CIT SECURED TERM LOAN (EQUIPMENT) Amount: $13,500,000.00 Borrowers: Lexington Precision Corporation and Lexington Rubber Group. Inc. Lenders: Congress Financial Corporation and CIT Business Credit, Inc. Amortization: Equal monthly payments of $300,000 with a balloon payment due at maturity. Security: First lien on all assets other than real property. Interest Rate: 3.75% over LIBOR. Funding Fee: $202,500 payable at closing. Maturity: June 30, 2006. Covenants: Financial covenants (including minimum net worth, minimum EBITDA, and minimum fixed charge coverage) and other affirmative and negative covenants customary for similar transactions. Minimum Availability: Borrower shall have excess availability under the revolving credit facility of not less than $5,500,000 at closing after giving effect to all transactions related to closing, including all related fees and expenses, and not less than $3,000,000 thereafter. LEXINGTON PRECISION CORPORATION SUMMARY OF TERMS OF 12% SENIOR SUBORDINATED NOTES Maturity Date: August 1, 2009 Principal Amount: $42,...