Overall Excess Availability definition

Overall Excess Availability means, as of any date of determination, an amount equal to the result of (a) the lesser of (i) the amount of the Aggregate Commitments and (ii) the Borrowing Base, less (b) Total Outstandings.
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Overall Excess Availability means, as of any date of determination, an amount equal to the result of the Borrowing Base, less Total Outstandings.
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Examples of Overall Excess Availability in a sentence

  • Subject to Section 2.17, if for any reason at any time, Overall Excess Availability is less than $0, the Borrowers shall immediately prepay the Obligations in an aggregate amount equal to such deficiency, which prepayment shall be applied in accordance with the priorities set forth in Section 8.03, in each case until Overall Excess Availability is equal to $0.

  • In addition, the Administrative Agent is authorized to charge to the Loan balance on behalf of the Borrowers and cause to be paid all fees, expenses, charges, costs and interest and principal owing by the Borrowers under this Agreement or any of the other Loan Documents, even if the amount of such charges would cause Overall Excess Availability to be less than $0.

  • Subject to Section 2.15, if for any reason at any time, Overall Excess Availability is less than $0, (i) the Borrowers shall immediately provide additional Reserved Cash to the Reserved Cash Account in such amount that would eliminate such deficiency completely and (ii) the Administrative Agent, in its sole discretion, may transfer Reserved Cash remaining in the Reserved Cash Account to repay the Obligations.

  • Permit Overall Excess Availability to be less than $5,000,000 at any time during the period from December 17, 2012 through and including February 1, 2013.

  • Permit Overall Excess Availability to be less than (a) $5,000,000 at any time during the period from December 17, 2012 through and including January ▇, [▇▇▇▇ ▇▇▇] ▇▇▇▇ , (▇) $3,000,000 at any time during the period from January 8, 2013 through and including February 1, [2013.] 2013 and (c) $5,000,000 at any time during the period from December 16, 2013 through and including February 1, 2014.

  • Subject to Section 2.17, if for any reason at any time, Overall Excess Availability is less than $0, the Borrowers shall immediately prepay the Obligations in an aggregate amount equal to such deficiency (such prepayment shall be directed to a Concentration Account and applied to the Obligations (or to Cash Collateralize Letters of Credit) until such time as Overall Excess Availability is greater than $0).

Related to Overall 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.

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

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount or (ii) the Maximum Revolving Advance Amount, minus (b) the sum of (i) the outstanding amount of Advances plus (ii) all amounts due and owing to Borrower's trade creditors which are outstanding beyond normal trade terms, plus (iii) fees and expenses for which Borrower is liable but which have not been paid or charged to Borrower's Account.