Eligible Equipment Availability Clause Samples

Eligible Equipment Availability. (a) on and after the Fourth Amendment Effective Date until an Eligible Equipment Adjustment Date, $36,519,400.00 and (b) on and after each Eligible Equipment Adjustment Date, the Eligible Equipment Adjusted Availability established on such date. Eligible Equipment Formula Amount: Eligible Equipment Availability less (a) the cumulative Eligible Equipment Amortization Amount and (b) the Value of any Eligible Equipment Disposed of following the most recent Eligible Equipment Adjustment Date (or if none, the Fourth Amendment Effective Date); provided that the Eligible Equipment Formula Amount shall be reduced to (and shall be deemed to be) zero ($0) on the Tranche A Revolver Termination Date or such earlier date on which the Tranche A Revolver Commitments are terminated in accordance with this Agreement.