Closing Excess Availability. After giving effect to all Borrowings to be made on the Closing Date and the issuance of any Letters of Credit on the Closing Date, Excess Availability shall be not less than $45,000,000. The Borrower shall have delivered projections to the Administrative Agent, prepared in good faith and based upon reasonable assumptions, showing that Excess Availability during the twelve-month period following the Closing Date will not at any time be less than $25,000.000.
Closing Excess Availability. After giving effect to all Borrowings to be made on the Effective Date, the issuance of any Letters of Credit on the Effective Date and the payment of all fees and expenses due hereunder, and with all of the Loan Parties’ indebtedness, liabilities, and obligations current, Excess Availability shall not be less than $60,000,000.
Closing Excess Availability. After giving effect to all Borrowings to be made on the Closing Date and the issuance of any Letters of Credit on the Closing Date, Excess Availability shall be not less than $80,000,000.
Closing Excess Availability. The Excess Availability as of the Closing Date shall be not less than Ten Million Dollars ($10,000,000) after giving effect to the initial Revolving Loans made or to be made in connection with the initial transactions hereunder, after deducting payment of all fees and expenses payable on the Closing Date.
Closing Excess Availability. The amount equal to (a) the Excess Availability as of the Closing Date minus (b) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of each Borrower which are outstanding more than 60 days past due as of the end of the immediately preceding month (other than trade payables or other obligations being contested or disputed by a Borrower in good faith) and without duplication, all book overdrafts of Borrowers, shall be not less than $25,000,000 after giving effect to the initial Revolving Loans and Letters of Credit made in connection with the initial transactions hereunder and after payment of all fees and expenses payable on the Closing Date (or any Reserves in respect thereof).
Closing Excess Availability. After giving effect to all Borrowings to be made on the Closing Date (other than Revolving Loans made to fund the amount described in clause (a)(i) of the definition of “Permitted Initial Revolving Borrowing Purposes”) and the issuance of any Letters of Credit on the Closing Date, Excess Availability shall be not less than $300,000,000.
Closing Excess Availability. After giving effect to all Borrowings to be made on the Second Amended Effective Date and the issuance of any Letters of Credit on the Second Amended Effective Date, Excess Availability shall be not less than $300,000,000.
Closing Excess Availability. Borrowers shall have Excess Availability, as of the date hereof, in the aggregate amount of not less than Five Million Two Hundred Thousand Dollars ($5,200,000).
Closing Excess Availability. The amount equal to (a) the Excess Availability as of the Closing Date minus (b) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of each Borrower which are past due (other than trade payables or other obligations being contested or disputed by a Borrower in good faith) and without duplication, all book overdrafts of Borrowers, shall be not less than $20,000,000 after giving effect to the initial Revolving Loans and Letters of Credit made in connection with the initial transactions hereunder and after payment of all fees and expenses payable on the Closing Date (or any Reserves in respect thereof).
Closing Excess Availability. The amount equal to (a) the Excess Availability as of the Closing Date plus unrestricted cash on the balance sheet of the Borrowers minus (b) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of each Borrower which are outstanding more than 30 days past due as of the end of the immediately preceding month (other than trade payables or other obligations being contested or disputed by a Borrower in good faith) and without duplication, all book overdrafts of Borrowers, shall be not less than $10,000,000 after giving effect to the Term Loan, the initial Revolving Loans and Letters of Credit made in connection with the initial transactions hereunder and after payment of all fees and expenses payable on the Closing Date (or any Reserves in respect thereof).
