Tranche B Availability definition

Tranche B Availability means the amount that Borrower is entitled to borrow as Tranche B Advances under Section 2.2, such amount being the difference derived when (a) the aggregate principal amount of Tranche B Advances then outstanding (including any amounts that the Lender Group may have paid for the account of Borrower pursuant to any of the Loan Documents and that are reimbursed by Borrower by being charged to the Loan Account as Tranche B Advances) is subtracted from (b) the Maximum Tranche B Amount.

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Tranche B Availability means, at any time, the lesser of (a) the difference between the Aggregate Facility Amount and the Total Credit Exposure for both Tranches at such time and (b) the difference between the Tranche B Borrowing Base and the Total Credit Exposure for Tranche B at such time.

Tranche B Availability means, at any time, the lesser of (a) an amount not less than zero and otherwise equal to (i) the Aggregate Commitment Amount minus (ii) Total Outstandings and (b) an amount not less than zero and otherwise equal to (i) the Tranche B Borrowing Base minus (ii) the Outstanding Amount of Tranche B Loans, in each case as of such time.

Examples of Tranche B Availability in a sentence

During the Tranche A Availability Period and the Tranche B Availability Period, as applicable, subject to the other terms and conditions of this Agreement, such Borrower may request and use the proceeds of Loans of one Type to repay outstanding Loans of another Type.
During the Tranche A Availability Period, the Tranche B Availability Period, and the Tranche C Availability Period, as applicable, subject to the other terms and conditions of this Agreement, such Borrower may request and use the proceeds of Loans of one Type to repay outstanding Loans of another Type and to repay outstanding Swing Line Loans.
Borrower may request Equipment Advances under Tranche B at any time from the Tranche A Availability End Date through the Tranche B Availability End Date.
For the avoidance of doubt, subject to Tranche A Availability, the foregoing sentence shall not impair the Borrower’s ability to request Letters of Credit, Swingline Loans, Local Loans and Acceptances in accordance with the terms hereof and irrespective of Tranche B Availability.
Each Swingline Loan shall be made in accordance with the procedures set forth in Section 2.6. Notwithstanding anything to the contrary, the Borrower shall not request, and the Tranche A Lenders shall be under no obligation to fund, any Tranche A Revolving Loans unless the Tranche B Revolving Loans are outstanding in an amount equal to the Tranche B Availability as then in effect.

More Definitions of Tranche B Availability

Tranche B Availability at any time, (a) the lesser of (i) the aggregate Tranche B Revolving Commitments in effect at such time and (ii) the Tranche B Borrowing Base at such time (based on the Borrowing Base Certificate most recently delivered to the Administrative Agent pursuant to Section 6.2(g)), after giving effect to any Eligibility Reserve or Dilution Reserve in effect at such time with respect to the Tranche B Borrowing Base (if any), in each case without duplication of any Eligibility Reserve or Dilution Reserve established with respect to the Tranche A Borrowing Base, whether or not reflected on such Borrowing Base Certificate but without duplication, minus (b) the aggregate amount of any Availability Reserve in effect at such time with respect to the Tranche B Borrowing Base (without duplication for any Availability Reserves established for the Tranche A Borrowing Base).

Tranche B Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Tranche B Commitments of all Tranche B Revolving Lenders and (ii) (A) the Canadian Borrowing Base minus (B) the Tranche C Canadian Borrowing Base Usage plus (C) the U.S. Borrowing Base Availability minus (b) the total Tranche B Revolving Exposure (calculated, with respect to any Defaulting Lender, as if such Defaulting Lender had funded its Applicable Percentage of all outstanding Borrowings).

Tranche B Availability. Tranche B Advances", "Tranche B Commitment", "Tranche B Usage"

Tranche B Availability means an amount equal to $10,000,000, which amount shall automatically and permanently be reduced by $2,000,000 per month commencing with the last Business Day of November, 2000, and on the last Business Day of each month thereafter until reduced to zero ($0); provided, however, if at any time when a reduction is otherwise scheduled to occur, the amount then available to the Borrowers under the Borrowing Base (calculated without giving effect to Plan Distribution Availability) is less than $5,000,000, or would be reduced below $5,000,000 as a result of such scheduled reduction, then such scheduled reduction shall be suspended, and such reductions shall not be reinstated until such time as the amount available to the Borrowers under the Borrowing Base (calculated without giving effect to Plan Distribution Availability) is equal to or greater than $5,000,000."

Tranche B Availability means, at any time (a) the lesser of ---------------------- (i) the Maximum Tranche B Commitment or (ii) the Tranche B Borrowing Base, minus (b) Reserves relating to Non-U.S. Accounts and Non-U.S. Inventory other than Reserves deducted in the calculation of the Tranche B Borrowing Base, minus (c) in each case, the Outstanding Tranche B Obligations.

Tranche B Availability means, as of any date of determination (and after giving effect to any requested Tranche B Advance), the lesser of (i) the Maximum Tranche B Amount less the then extant amount of outstanding Tranche B Advances, or (ii) the Borrowing Base less the then extant amount of Tranche A Usage and Tranche B Usage.

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