Examples of Availability Block in a sentence
ABL Representative shall impose and maintain the Availability Block at all times; provided, however, that nothing herein shall limit or otherwise restrict the ability of the ABL Representative and the other ABL Secured Parties from making Protective Advances in compliance with clause (a)(ii)(B) of the definition of ABL Debt Cap.
Subject to the terms and conditions set forth herein, each Lender agrees, severally and not jointly, to make Revolving Loans to Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in such Lender’s Revolving Credit Exposure exceeding $9,500,000, representing the Commitment minus the Availability Block.
The amount of such Borrowing shall not exceed the lesser of (i) Total Credit Facility Amount less the aggregate amount of Loans outstanding, in each case as of the proposed date of the borrowing, (ii) the net cash needs set forth in the most recently delivered Cash Flow Projections provided to the Lender, and (iii) the Total Credit Facility Amount times the applicable Availability Block, in each case as of the proposed date of the borrowing.