ABL Availability Clause Samples

The ABL Availability clause defines the amount of credit a borrower can access under an asset-based lending (ABL) facility, based on the value of eligible collateral such as accounts receivable and inventory. Typically, the clause outlines the calculation method for determining availability, including advance rates, eligibility criteria for assets, and deductions for reserves or ineligible items. Its core function is to ensure that the lender's risk is managed by tying the borrower's borrowing capacity to the fluctuating value of secured assets, thereby protecting the lender and providing the borrower with a clear framework for accessing funds.
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ABL Availability. The Borrower shall have a minimum of $10 million of excess availability under the ABL Credit Agreement for 30 days before and projected for 30 days after paying any Earn-Out Obligations until the time, if any, upon which the Lenders have waived the Known Defaults.
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Related to ABL Availability

  • RDDS availability Refers to the ability of all the RDDS services for the TLD, to respond to queries from an Internet user with appropriate data from the relevant Registry System. If 51% or more of the RDDS testing probes see any of the RDDS services as unavailable during a given time, the RDDS will be considered unavailable.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation, or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • Funds Availability For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, federal holidays and legal banking holidays in the State of Utah.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Excess Availability Borrowers shall maintain Excess Availability at ------------------- all times of at least $4,500,000.