Excess Availability. Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including September 6, 2016, $13,000,000, (ii) as of any date of determination during the period from September 7, 2016 through and including October 2, 2016, $17,500,000, and (iii) as of any date of determination during the period from October 3, 2016 through and including December 31, 2016, $20,000,000.
Excess Availability. Section 9.17.1 of the Loan Agreement is hereby amended and restated to read in its entirety as follows:
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. 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. 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. Borrower shall at all times maintain Excess Availability of at least $5,000,000.
Excess Availability. Borrowers will have Excess Availability of at least $14,000,000 at all times.
Excess Availability. Section 9.23 of the Loan Agreement is hereby replaced with the following:
Excess Availability. After giving effect to the Credit Extension requested to be made on any such date and the use of proceeds thereof, Excess Availability shall be greater than zero. The request by the Borrowers for, and the acceptance by the Borrowers of, each extension of credit hereunder shall be deemed to be a representation and warranty by the Borrowers that the conditions specified in this Section 4.2 have been satisfied at that time and that after giving effect to such extension of credit the Borrowers shall continue to be in compliance with Section 2.1(a). The conditions set forth in this Section 4.2 are for the sole benefit of the Agent and the Lenders and, unless the Required Lenders otherwise direct, may be waived by the Agent in whole or in part without prejudice to the Agent or any Lender.
Excess Availability. The Administrative Agent and the Co-Collateral Agent shall have received a Borrowing Base Certificate setting forth, after giving effect to the Borrowings hereunder on the Closing Date, the Available Loan Commitments equal to an amount not less than $400,000,000.
