Unused Availability definition

Unused Availability means, at any time of determination, an amount equal to (a) the lesser of (i) the Aggregate Commitment and (ii) the Borrowing Base, minus (b) the Facility Usage.

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Unused Availability means, at any time, (a) the lesser of (x) the Revolving Credit Commitment and (y) the Borrowing Base minus (b) the sum of all then outstanding Revolving Credit Loans.

Unused Availability means, at any time, the Borrowing Base minus the Aggregate Revolver Outstandings.

Examples of Unused Availability in a sentence

The Loan Parties shall not permit Unused Availability at any time to be less than $10,000,000.
As long as this Agreement is in effect and until all Obligations have been fully satisfied, the Agent’s Liens shall continue in full force and effect in all Collateral (whether or not deemed eligible for the purpose of calculating the Unused Availability or as the basis for any advance, loan, extension of credit, or other financial accommodation).
At all such times during which the Borrowers have Unused Availability of less than $25,000,000, the Loan Parties shall not at any time permit Consolidated Net Worth to be less than the Base Net Worth.
The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability.
The Loan Parties acknowledge and agree that if an Event of Default described in Section 0 or 0 shall occur, such Event of Default may not then be cured by the Loan Parties subsequently increasing Unused Availability (above amounts required under such Sections) and such Event of Default shall be deemed to be continuing unless affirmatively waived by the Required Banks.

Unused Availability means, as of any date, the amount (if any) by which the Maximum Revolving Loan Amount exceeds the Revolving Loan.

Unused Availability means at any time, an amount equal to the Available Commitment in effect at that time, minus the Utilized Credit.

Unused Availability means an amount equal to the difference between the Borrowing Base and (a) outstanding Loans plus (b) outstanding Letter of Credit Liabilities.

Unused Availability has the meaning provided in the First Lien Credit Agreement.

Unused Availability means (to the extent that the Borrower is permitted to borrow such amounts under the terms of this Agreement including, without limitation, Section 6.02 hereof) at any time, an amount equal to (a) the Aggregate Elected Commitment Amounts minus (b) the Aggregate Revolving Credit Exposure (calculated, with respect to any Defaulting Lender, as if such Defaulting Lender had funded its Applicable Percentage of all outstanding Borrowings).

Unused Availability means, on any day, the amount of the Borrowing Base Calculation, minus the Aggregate Outstanding Credit Exposure.