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.
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Samples: Abl Credit Agreement (TMS International Corp.), Abl Credit Agreement (TMS International Corp.), Abl Credit Agreement (Tube City IMS CORP)
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 $45,000,00050,000,000. 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 $25,000.00050,000,000.
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