Net Availability definition

Net Availability means, at any date, (a) the Availability for Revolving Credit Loans less (b) the aggregate principal amount of all outstanding Revolving Credit Loans.
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Net Availability shall be calculated at any time as an amount equal to the Gross Availability minus the aggregate amount of all then-outstanding Obligations to Lender other than the then outstanding principal balance of the Term Loan, if any.
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Net Availability means, as of the date of determination, the difference of (a) the lesser of (i) the Borrowing Base, or (ii) the Revolving Credit Commitment, minus (b) the sum of (i) the aggregate outstanding Revolving Loans, plus (ii) the Letter of Credit Usage.
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Examples of Net Availability in a sentence

  • The Agent makes no representation that loan balance or Net Availability information is or will be available, accurate, complete, correct or current at all times.

  • Lender shall, subject to the terms and conditions contained herein, make revolving loans to Borrower ("Revolving Loans") in amounts requested by Borrower from time to time, but not in excess of the Net Availability existing immediately prior to the making of the requested loan and provided the requested loan would not cause the outstanding Obligations to exceed the Maximum Credit.

  • Lender may, in its sole discretion, make or permit Revolving Loans, Accommodations or other Obligations in excess of the Maximum Credit, Gross or Net Availability or applicable formulas or sublimits.

  • CIT makes no representation that loan balance or Net Availability information is or will be available, accurate, complete, correct or current at all times.

  • For the purpose of calculating the Net Availability, Standby Letters of Credit shall be deemed Revolving Loans.


More Definitions of Net Availability

Net Availability shall be calculated at any time as an amount equal to the Gross Availability minus the aggregate amount of all then-outstanding Obligations (including Accommodations other than Accommodations provided under Section 2.3(b)) to Lender.
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Net Availability means, as of each date of determination, the aggregate principal amount then available to be borrowed under this Agreement minus the amount of the Operating Reserve.
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Net Availability means an amount equal to the then Gross Availability minus the aggregate amount of all Revolving Loans.
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Net Availability means, at any time, the aggregate amount of the Working Capital Revolving Loans and letter of credit accommodations available to Borrowers from Working Capital Lenders based on the applicable percentage (as in effect on the date hereof) of Eligible Accounts and Eligible Unbilled Accounts (as such terms are defined in the Working Capital Credit Agreement as in effect on the date hereof) set forth in the definition of Working Capital Borrowing Base after giving effect to any reserves from time to time established by the Working Capital Agent pursuant to the terms of the Working Capital Credit Agreement as such agreement is in effect on the date hereof or otherwise established by the Working Capital Agent.
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Net Availability means, as of the time of determination, Gross Availability less the outstanding principal balance of the Restated Loan.
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Net Availability means, as of any date of determination thereof, the amount (if any) by which the Availability at such time exceeds the sum of the Letter of Credit Exposure plus the aggregate outstanding principal balance of the Receivables Advances at such time.
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Net Availability means an amount equal to the then Gross Availability minus the aggregate amount of all Obligations other than the then outstanding principal balance of EXIM Revolving Loans (as defined in Section 10.7).
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