Minimum Availability Threshold definition

Minimum Availability Threshold at a particular date shall mean that
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Minimum Availability Threshold means $3,500,000.
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Minimum Availability Threshold means that the Facility’s Achieved Availability in that Quarter of the Contract Year is at least forty-five per cent (45%);
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Examples of Minimum Availability Threshold in a sentence

  • As of the last day of the Fiscal Quarter ending June 30, 2010 and any Fiscal Quarter thereafter, for which, in any case, average daily Aggregate Availability for the thirty (30) day period ending on such date is less than the Applicable Minimum Availability Threshold, the Credit Parties shall not permit the Fixed Charge Coverage Ratio for the twelve fiscal month period ending on such date to be less 1.10 to 1.00.

  • In the event that the Borrowers fail to maintain the Minimum Availability Threshold or upon the occurrence of a Default or Event of Default, the Borrowers shall deliver to the Agent a Borrowing Base Certificate on the first Business Day of each week (as of the last Business Day of the previous week).

  • Notwithstanding the preceding sentence, if the Fixed Charge Coverage Ratio is less than 1.05 to 1.00, the Borrowers will not be in default of this Fixed Charge Coverage Ratio covenant if the Borrowers meet the Minimum Availability Threshold and no other Default or other Event of Default has occurred and is continuing.

  • Agent shall have the right to effectuate payment on any and all Obligations due and owing hereunder if not paid promptly by the Borrowers (or following a Default or Event of Default or Borrowers' failure to meet the 22 Minimum Availability Threshold) by charging Borrowers' Account or by making Advances as provided in Section 2.2 hereof.

Related to Minimum Availability Threshold

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

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

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

  • 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.