Availability Amount. Notwithstanding any provision of this Agreement to the contrary, Borrowers will at all times cause the outstanding principal balance of the Loan not to exceed the Availability Amount, and the Lenders will have no obligation to make any Advance of Loan proceeds if after giving effect to the requested Advance the outstanding principal amount of the Loan would exceed the Availability Amount. If, as of the end of any calendar quarter, as determined by the quarterly reporting provided by Borrower pursuant to the terms of Section 6.15, the outstanding principal balance of the Loan exceeds the Availability Amount, Borrower shall pay down the Loan in compliance with Section 6.32.
Availability Amount. The Availability Amount shall be reduced simultaneously with each reduction of the Commitments pursuant to this Section by the amount of such reduction.
Availability Amount. Subject to the provisions of Section 6.33, Borrower will at all times cause the outstanding principal balance of the Loan not to exceed the SMRH:4847-1441-2233.18 -50- Availability Amount, and the Lenders will have no obligation to make any Advance of Loan proceeds if after giving effect to the requested Advance the outstanding principal amount of the Loan would exceed the Availability Amount. If, as of the end of any calendar quarter, as determined by the quarterly reporting provided by Borrower pursuant to the terms of Section 6.15, the outstanding principal balance of the Loan exceeds the Availability Amount, unless Borrower is then subject to Section 6.33, Borrower shall pay down the Loan in compliance with Section 6.32.
Availability Amount. The definition of “Availability Amount” in Section 13.1 of the Loan Agreement, which presently reads as follows: “ ‘Availability Amount’ is (a) the lesser of (i) the Maximum Dollar Amount or (ii) the amount available under the Borrowing Base, minus (b) the aggregate Dollar Equivalent amount of all outstanding Letters of Credit (including drawn but unreimbursed Letters of Credit) plus an amount equal to the Letter of Credit Reserve, minus (c) the FX Reduction Amount, minus (d) any amounts used for Cash Management Services, and minus (e) the outstanding principal balance of any Advances.” is amended to read as follows: “ ‘Availability Amount’ is (a) the lesser of (i) the Maximum Dollar Amount or (ii) the amount available under the Borrowing Base, minus (b) the outstanding principal balance of any Advances.”
Availability Amount. Notwithstanding anything to the contrary contained in the Loan Agreement, from the date of this Agreement until the financial statements due for the quarter ending September 30, 2021 are received and reviewed by the Lender, the Availability Amount shall not exceed Seven Million Five Hundred Thousand Dollars ($7,500,000) minus (a) the aggregate outstanding face amount of all Letters of Credit (including drawn but unreimbursed Letters of Credit), and minus (b) the outstanding principal balance of any Advances. After the financial statements due for the quarter ending September 30, 2021 are received and reviewed by the Lender, then Availability Amount reverts to the lesser of (i) the Revolving Line or (ii) the Borrower Base, minus (a) the aggregate outstanding face amount of all Letters of Credit (including drawn but unreimbursed Letters of Credit), minus (b) the outstanding principal balance of any Advances.
Availability Amount. The definition of “Availability Amount” contained in Section 13.1 of the Loan Agreement is hereby amended to read as follows:
Availability Amount. Maintain a Availability Amount such that the amount of the Outstanding Credit Exposure will not, at any time other than during applicable grace periods expressly set forth elsewhere in this Agreement, exceed the Aggregate Commitment Amount.
