Borrowing Availability. After giving effect to such extension of credit requested to be made on such date,
(i) the sum of the Total Working Capital Facility Extensions of Credit and the Total Acquisition Facility Working Capital Extensions of Credit shall not exceed the Aggregate Borrowing Base Amount as of such date,
(ii) the Total Acquisition Facility Acquisition Extensions of Credit shall not exceed the Eligible Acquisition Asset Value,
(iii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments,
(iv) the Total Dollar Working Capital Facility Extensions of Credit shall not exceed the aggregate Dollar Working Capital Facility Commitments,
(v) the Total Multicurrency Working Capital Facility Extensions of Credit shall not exceed the aggregate Multicurrency Working Capital Facility Commitments,
(vi) such extension of credit shall not result in any Applicable Sub-Limit (with each Applicable Sub-Limit calculated including the Dollar Equivalent of any included Extensions of Credit denominated in Canadian Dollars) being exceeded,
(vii) with respect to any such extension of credit under the Acquisition Facility, the Loan Parties shall be in compliance with the covenants set forth in Section 8.1 calculated on a Pro Forma Basis, and
(viii) the Administrative Agent shall have received a certificate of a Responsible Person of the U.S. Borrower (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(vii) of Section 6.2(e) as of such date.
Borrowing Availability. The aggregate Effective Amount outstanding under this Agreement shall not exceed the lesser of the Borrowing Base Advance Cap or the Total Available Committed Line Portion. Each borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date thereof that the conditions contained in this Section 5.02 have been satisfied.
Borrowing Availability. If for any reason the Total Outstandings at any time exceed the Aggregate Commitments then in effect, the Borrowers shall immediately prepay Loans and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the Borrowers shall not be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.06(b)(i) unless after the prepayment in full of the Committed Loans and Swing Line Loans the Total Outstandings exceed the Aggregate Commitments then in effect.
Borrowing Availability. After giving effect to such extension of credit requested to be made on such date,
(i) the Total Working Capital Facility Extensions of Credit shall not exceed the Borrowing Base as of such date,
(ii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments,
(iii) the Total Working Capital Facility Extensions of Credit shall not exceed the aggregate Working Capital Facility Commitments,
(iv) such extension of credit shall not result in any Applicable Sub-Limit being exceeded,
(v) with respect to any such extension of credit under the Acquisition Facility, the Borrowers shall be in compliance with the covenants set forth in Section 8.1 calculated on a pro forma basis, and
(vi) the Collateral Agent shall have received a certificate of a Responsible Person of the Borrowers’ Agent (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(vi) of Section 6.2(e) as of such date.
Borrowing Availability. At all times the Borrowing Availability shall be determined by the Lender as an aggregate of all of the adjusted Loan Values of all Borrowing Base Units that have been the subject of a New Start Request and that have complied for financing under the Loan. The Borrower may submit New Start Request in accordance with the terms of the Existing Agreement. The Lender will determine the Borrowing Availability based on the Loan Value of each Borrowing Base Unit financed under the construction facility in accordance with the terms of the Existing Agreement. The Lender will inspect up to thirty percent (30%) of the Borrowing Base Units each month to verify the percentage of construction of each of said Borrowing Base Units and the Lender may adjust the Loan Value of such Borrowing Base Units based on said inspection and may also adjust the Loan Value based on the period of time that each Borrowing Base Unit has have been financed under the credit facility (i.e., the Loan Value may be reduced as Lots and/or Homes remain in the Borrowing Base for a period in excess of one year).
Borrowing Availability. The Borrower shall at all times maintain Borrowing Availability of at least $10,000,000 (or such lesser amount as agreed to in writing by the Agent in its sole discretion).
Borrowing Availability. After giving effect to such extension of credit requested to be made on such date,
(i) the Total Revolving Facility Extensions of Credit shall not exceed the Total Revolving Facility Commitments, and
(ii) such extension of credit shall not result in any Applicable Sub-Limit being exceeded; and
(iii) the Collateral Agent shall have received a certificate of a Responsible Person of the Borrowers’ Agent (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(iii) of Section 6.2(e) as of such date to the extent not a part of the Borrowing Notice or Letter of Credit Request delivered in connection with such Extension of Credit.
Borrowing Availability. Immediately after any such Credit Event, the outstanding principal amount of Revolving Loans will not exceed the Revolving Loan Limit;
Borrowing Availability. The Term Loan Amount was advanced on or before January 31, 2017 (the “Term Loan Availability Expiration Date”), and no additional advances shall be permitted under this Note.
Borrowing Availability. Until such time as a Compliance Certificate is delivered pursuant to Section 6.02(b) that indicates that the Net Leverage Ratio is less than or equal to 4.00 to 1.00, if for any reason the Total Outstandings at any time exceed the Available Borrowing Assets, the Borrower shall immediately prepay the Loans and L/C Borrowings (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess. Each prepayment of Loans pursuant to this clause (vii) shall be applied, at the Borrower’s election, to the principal repayment installments of the Term Loan in inverse order of maturity or to the Revolving Facility in the manner set forth in clause (ix) of this Section 2.05(b).
