Borrowing Base; Unused Availability Sample Clauses

Borrowing Base; Unused Availability. After giving pro forma effect to the funding of the initial Loans, the issuance of the initial Letters of Credit, if any, and the payment of all costs, fees and expenses incurred by or for the account of the Borrowers in connection with the execution and delivery of this Credit Agreement, the other Credit Documents and the Related Transactions which are due and payable on the Closing Date, there shall be unused availability under the Borrowing Base of at least $35,000,000.
Sample 1
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Borrowing Base; Unused Availability. After giving pro forma effect to the funding of the initial Loans, the issuance of the initial Letters of Credit, if any, and the payment of all costs, fees and expenses incurred by or for the account of Borrower in connection with the consummation of Debtor's Reorganization Plan and the execution and delivery of this Credit Agreement and the other Credit Documents, there shall be unused availability under the Borrowing Base, as determined by Agent, of at least $10,000,000.
Sample 1
Borrowing Base; Unused Availability. After giving pro forma effect to the Revolving Loans outstanding under the Existing Credit Agreement on the date hereof, the funding of the additional Revolving Loans hereunder on the date hereof, the assumption of the Letters of Credit outstanding under the Existing Credit Agreement on the date hereof, and the payment of all costs, fees and expenses incurred by or for the account of the Borrower in connection with the execution and delivery of this Credit Agreement and the other Credit Documents, there shall be unused availability under the Borrowing Base of at least $9,000,000.
Sample 1
Borrowing Base; Unused Availability. The Borrowing Base of the Borrowers and any Subsidiary which is a Borrower Party shall be appropriate, in the Agent's Permitted Discretion, for Borrowers' overall business and working capital requirements. On the Closing Date, after giving effect to the consummation of the Kolmar Acquisition and the repayment of Indebtedness, Borrowers shall have an aggregate Excess Availability of not less than $5,000,000.
Sample 1

Related to Borrowing Base; Unused Availability

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

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including October 6, 2016, $13,000,000, (iii) as of any date of determination during the period from October 7, 2016 through and including October 13, 2016, $17,500,000, and (iv) as of any date of determination during the period from October 14, 2016 through and including December 31, 2016, $20,000,000.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Product Availability The Insurance Companies have qualified the Products for offer and sale under the applicable insurance laws of various states and other jurisdictions. Producers and Registered Representatives shall solicit applications for the Products only in states and jurisdictions where such Products have been so qualified. Producers shall, upon request, be provided with a list of those states and jurisdictions in which the Products have been qualified for sale. The Insurance Companies shall file and make all statements or reports as are or may be required by the laws of such state or jurisdiction to maintain these qualifications in effect.

  • Opening Availability The Eligible Accounts and Eligible Inventory supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by Agent, to provide Borrowers with Borrowing Availability, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least Twenty Five Million Dollars ($25,000,000).

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Borrowing Base Redetermination Pursuant to Section 2.07, the Administrative Agent and the Lenders agree that for the period from and including the First Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f) or Section 8.12(c). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2017 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2017 Scheduled Redetermination.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

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