Calculation of Availability Amount Clause Samples
The "Calculation of Availability Amount" clause defines the method for determining the amount of funds or resources that are accessible under an agreement at any given time. Typically, this involves specifying a formula or set of criteria—such as outstanding balances, credit limits, or compliance with certain conditions—that must be met for funds to be available. For example, in a loan agreement, the availability amount might be calculated by subtracting the current outstanding principal from the total committed facility, adjusted for any reserves or restrictions. This clause ensures transparency and predictability for both parties by clearly outlining how much can be drawn or used, thereby preventing disputes and managing expectations regarding access to resources.
Calculation of Availability Amount. The Availability Amount shall be calculated as of (a) the end of each calendar quarter, and (b) one (1) Business Day immediately following the release or addition of a Borrowing Base Asset pursuant to the terms hereof (the “Determination Date”).
Calculation of Availability Amount. (a) The Availability Amount shall be calculated as of the end of each calendar quarter (the “Determination Date”).
(b) If (i) the Availability Amount is less than the Collateral Value Amount for two (2) consecutive calendar quarters, the provisions of Section 2.05(b)(i) shall apply and (b) if the Debt Yield is less than ten percent (10%) for any calendar quarter, (ii) the provisions of Section 2.05(b)(ii) shall apply.
Calculation of Availability Amount. (a) The Availability Amount shall be calculated as of the end of each calendar quarter (the “Determination Date”); provided that the Borrowing Base Amount shall be reduced to the Availability Amount only if (a) the Availability Amount is less than the Collateral Value for two (2) consecutive calendar quarters in which case the provisions of Section 2.05(b)(i) shall apply or (b) if the Debt Yield is less than ten percent (10%) for any calendar quarter, in which event the provisions of Section 2.05(b)(ii) shall apply.
(b) Anything herein to the contrary notwithstanding, with respect to the calculation of the Availability Amount for the Borrowing Base Asset located in Akron, Summit County, Ohio (the “Bath Asset”) on the first two Determination Dates following the Closing Date only, in lieu of using the ANOI for the trailing six (6) month period prior to the Determination Date for the Bath Asset (i) on the first Determination Date following the Closing Date, the Availability Amount will be calculated using the ANOI for the first six (6) months of 2010 as reflected in the pro forma budget for the Bath Asset provided to Administrative Agent and (b) on the second Determination Date following the Closing Date, the Availability Amount will be calculated using the ANOI for the first three(3) months of 2010 as reflected in the pro forma budget for the Bath Asset provided to Administrative Agent, plus the actual ANOI of the Bath Asset for the trailing three (3) month period prior to the Determination Date.