Suppressed Excess Availability definition

Suppressed Excess Availability means, on any date of determination, the sum of (a) Excess Availability plus (b) the lesser of (i) the Borrowing Base minus the Revolving Credit Amount (but not less than zero) and (ii) 5.0% of the Revolving Credit Amount.
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Suppressed Excess Availability means, as of any date of determination, the amount equal to the sum of Availability plus Suppressed Availability; and
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Examples of Suppressed Excess Availability in a sentence

  • Furthermore, the Borrower shall report Suppressed Excess Availability, in addition to Excess Availability, in each Compliance Certificate covering any period ending during the Suppressed EA Period.

  • After repayment, no 2014 Growth Capital Advance may be re-borrowed.

Related to Suppressed Excess Availability

  • Suppressed Availability means, at any time, an amount, if positive, by which the Borrowing Base at such time exceeds the Aggregate Commitments at such time; provided that Suppressed Availability at any time shall not exceed 2.5% of the Aggregate Commitments at such time.

  • 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.