Excess Availability. Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from the April 29, 2016 through and including May 29, 2016, $10,000,000, (ii) as of any date of determination during the period from the May 30, 2016 through and including July 15, 2016, $15,000,000, (iii) as of any date of determination during the period from the July 16, 2016 through and including September 29, 2016, $17,500,000, and (iv) as of any date of during the period from September 30, 2016 through and including December 31, 2016, $20,000,000.”
Excess Availability. Borrowers will have Excess Availability of at least $14,000,000 at all times.
Excess Availability. Section 9.17.1 of the Loan Agreement is hereby amended and restated to read in its entirety as follows:
Excess Availability. Borrower shall at all times maintain Excess Availability of at least $5,000,000.
Excess Availability. The Administrative Agent shall have received a Borrowing Base Certificate in the form contemplated by Subsection 7.2(f), or such other form as may be reasonably acceptable to the Administrative Agent, prepared as of the last day of the last fiscal month ended at least 20 Business Days prior to the Closing Date, setting forth, after giving effect to the Borrowings hereunder on the Closing Date, Excess Availability.
Excess Availability. The Administrative Agent and the Co-Collateral Agent shall have received a Borrowing Base Certificate in the form contemplated by Subsection 7.2(f), or such other form as may be reasonably acceptable to the Administrative Agent and the Co-Collateral Agent, setting forth, after giving effect to the Borrowings hereunder on the Closing Date, the Available Loan Commitments. After giving effect to any borrowing on the Closing Date, the amount of Available Loan Commitments (determined for this purpose only without giving effect to any L/C Obligation), together with any remaining cash on hand from the issuance of the Senior Secured Notes immediately after giving effect to the Transactions, shall equal or exceed $175,000,000.
Excess Availability. Section 9.25 of the Loan Agreement is hereby amended by deleting such Section in its entirety and substituting the following therefor:
Excess Availability. Section 9.23 of the Loan Agreement is hereby replaced with the following:
Excess Availability. Permit Excess Availability at any time to be less than the greater of (i) ten percent (10%) of the Combined Loan Caps (calculated without giving effect to the Term Loan Reserve) and (ii) $7,000,000.
Excess Availability. The Borrowers shall maintain at all times Excess Availability of not less than $15,000,000.
