Net Excess Availability definition

Net Excess Availability as of any date of determination, an amount equal to the U.K. Availability minus the aggregate amount, if any, of all trade payables of U.K. Domiciled Obligors that are more than 60 days past due and all book overdrafts of U.K. Domiciled Obligors in excess of historical practices with respect thereto, in each case as determined by Agent in its Credit Judgment.
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Net Excess Availability means average daily Availability for the previous calendar quarter, net of (x) the outstanding amount of Advances and (y) the Letter of Credit Usage measured on the first Business Day of the immediately following calendar quarter.
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Net Excess Availability means, on any day, (a) the amount calculated under clause (b)(i) and clause (b)(ii) of the definition of Borrowing Base, minus (b) Reserves other than Reserves calculated under clause (k) of the definition of Reserves, minus (c) the Aggregate Revolver Outstandings, in each case determined as of such day.
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Examples of Net Excess Availability in a sentence

  • Notwithstanding anything to the contrary herein, but subject to Section 1.5 hereof, all financial ratios and tests (including the Fixed Charge Coverage Ratio and the amount of Consolidated Total Assets and Consolidated Adjusted EBITDA but excluding Net Excess Availability) contained in this Agreement that are calculated with respect to any Test Period during which any Subject Transaction occurs shall be calculated with respect to such Test Period and such Subject Transaction on a Pro Forma Basis.

  • No Obligated Party shall voluntarily prepay or redeem any Debt except (a) the Obligations and (b) the Senior Subordinated Notes if after any such prepayment or redemption and for the sixty (60) day period immediately preceding any such prepayment or redemption the Obligated Parties are current with respect to payment of their other indebtedness, liabilities, and obligations and, after giving effect to any such prepayment or redemption, Net Excess Availability is greater than $30,000,000.

  • The Obligated Parties shall not permit the Average Net Excess Availability to be less than $25,000,000 for the period beginning on June 1 and ending on June 30 and beginning on December 1 and ending on December 31 of each calendar year.

  • Maintain U.S. Net Excess Availability of no less than 10% of the U.S. Borrowing Base (without giving effect to the U.S. LC Reserve, the Canadian Overadvance Loan Balance, and the U.K. Overadvance Loan Balance for purposes of this calculation) at all times.

  • The Obligated Parties shall not permit the Net Excess Availability to be less than $5,000,000 at any time.


More Definitions of Net Excess Availability

Net Excess Availability means undrawn availability under the Revolving Loans after deducting all sums due and owing to Borrowers' trade creditors which are outstanding beyond normal trade terms (as determined by Lender), less all Reserves established by Lender."
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Net Excess Availability means, at a particular date, undrawn availability under the Revolving Loans after deducting all sums due and owing to Borrowers’ trade creditors which are more than thirty (30) days past due (unless Borrowers shall have provided evidence satisfactory to Lender that the party due such payables has agreed to other terms), less all Reserves established by Lender.”
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Related to Net Excess Availability

  • 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.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each day in such period (as calculated by Agent as of the end of each respective day) divided by the number of days in such period.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Quarterly Excess Available Funds Percentage means, with respect to the June 2007 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.