Maintenance of Minimum Availability Sample Clauses

Maintenance of Minimum Availability. Borrower shall maintain an aggregate Availability of at least (a) $3,000,000 at all times during the period from the First Amendment Date through February 29, 2004, (b) $1,000,000 at all times during the period from March 1, 2004 through March 31, 2004, (c) $1,500,000 at all times during the period from April 1, 2004 through Xxxxx 00, 0000, (x) $2,000,000 at all times during the period from May 1, 2004 through May 31, 2004 and (e) $3,000,000 at all times from and after June 1, 2004.
Sample 1
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Maintenance of Minimum Availability. Borrower shall maintain an aggregate Availability of at least (a) $3,000,000 at all times other than during a Fixed Asset Draw Period or a Minimum Fixed Charge Coverage Period and (b) $5,000,000 at all times during a Fixed Asset Draw Period or a Minimum Fixed Charge Coverage Period.”
Sample 1
Maintenance of Minimum Availability. If Borrower’s Fixed Charge Coverage as of the end of any fiscal quarter (computed for the twelve month period ending on the last day of such fiscal quarter) is less than 1.10 to 1.0 (with trade payables aged in accordance with standard terms), Borrower shall maintain at all times during the next fiscal quarter an aggregate Availability of at least $5,000,000. If Borrower’s Fixed Charge Coverage as of the end of any fiscal quarter (computed for the twelve month period ending on the last day of such fiscal quarter) is equal to or greater than 1.10 to 1.0 (with trade payables aged in accordance with standard terms), Borrower shall maintain at all times during the next fiscal quarter an aggregate Availability of at least $3,000,000.
Sample 1
Maintenance of Minimum Availability. Borrower shall maintain an aggregate Availability of at least (a) $3,000,000 at all times other than during a Fixed Asset Draw Period or a Minimum Fixed Charge Coverage Period and (b) $5,000,000 at all times during a Fixed Asset Draw Period or a Minimum Fixed Charge Coverage Period.” Each of the following definitions set forth in Section 10.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows: “EBITDA“ means, for any period, the sum (without duplication) of the following for Borrower and its Restricted Subsidiaries on a Consolidated basis: (a) Net Income for the period, (b) any provision for (or less any benefit from) income and franchise taxes included in the determination of Net Income, (c) interest expense deducted in the determination of Net Income, (d) amortization and depreciation deducted in determining Net Income, (e) losses (or less gains) from Asset Dispositions or other non-cash items included in the determination of Net Income (excluding sales, expenses or losses related to current assets), (f) extraordinary losses (or less gains), as defined under GAAP, net of related tax effects, included in the determination of Net Income, (g) non-recurring restructuring charges approved by Requisite Lenders, including (i) for Borrower’s 2004 fiscal year, severance and relocation costs not exceeding $5,151,000 in the aggregate incurred in connection with (A) relocating operations from Borrower’s facilities in California to its facility in Tolleson, Arizona, (B) relocating operations from Borrower’s South Carolina facility to its facilities in Kingsport, Tennessee and elsewhere, (C) restructuring the operations of Tech Industries and (D) additional reductions in Borrower’s overall employee headcount, and (ii) in addition to the severance and relocation costs specified in the preceding clause (i), for Borrower’s 2004 and 2005 fiscal years, severance costs not exceeding $1,200,000 in the aggregate incurred in connection with reductions in Borrower’s overall employee headcount, in each case to the extent such charges are deducted in determining Net Income for such period, (h) non-recurring charges not exceeding $1,867,000 incurred by Borrower in fiscal year 2004 in connection with the repurchase of the Chase Warrant and the Hxxxxx Warrant with proceeds received by Borrower from its issuance of the Senior Notes to the extent such charges are deducted in determining Net Income for such period and (i) a one-time non-recurring ...
Sample 1

Related to Maintenance of Minimum Availability

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Maintenance of Liquidity Seller shall ensure that, at all times, it has unrestricted cash and Cash Equivalents in an amount not less than the related Liquidity Amount.

  • Product Availability The Insurance Companies have qualified the Products for offer and sale under the applicable insurance laws of various states and other jurisdictions. Producers and Registered Representatives shall solicit applications for the Products only in states and jurisdictions where such Products have been so qualified. Producers shall, upon request, be provided with a list of those states and jurisdictions in which the Products have been qualified for sale. The Insurance Companies shall file and make all statements or reports as are or may be required by the laws of such state or jurisdiction to maintain these qualifications in effect.

  • Maintenance of Effective Leverage Ratio For so long as the Fund fails to provide the information required under Sections 6.1(o) and 6.1(p), Xxxxx Fargo shall calculate, for purposes of Section 2.5(b)(ii)(A)(y) of the Statement, the Effective Leverage Ratio using the most recently received information required to be delivered pursuant to Sections 6.1(o) and 6.1(p) and the market values of securities determined by the third-party pricing service which provided the market values to the Fund on the most recent date that information was properly provided by the Fund pursuant to the requirements of Section 6.1(o) and 6.1(p). The Effective Leverage Ratio as calculated by Xxxxx Fargo in such instances shall be binding on the Fund. If required, the Fund shall restore the Effective Leverage Ratio as provided in the Statement. For purposes of calculating the Effective Leverage Ratio, any Overconcentration Amount shall be subtracted from the sum determined pursuant to sub-section (ii) of the definition of Effective Leverage Ratio, set out in Section 2.4(d) of the Statement. In connection with calculating the Effective Leverage Ratio, the Fund’s total assets and accrued liabilities shall reflect the positive or negative net obligations of the Fund under each Derivative Contract determined in accordance with the Fund’s valuation policies.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Closing Availability After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, the Borrowers’ Availability shall not be less than $500,000.

  • Maintenance of Rating Since the execution of this Agreement, there shall not have been any decrease in or withdrawal of the rating of any securities of the Company or any of its subsidiaries by any “nationally recognized statistical rating organization” (as defined for purposes of Rule 436(g) under the 0000 Xxx) or any notice given of any intended or potential decrease in or withdrawal of any such rating or of a possible change in any such rating that does not indicate the direction of the possible change.

  • Maintenance of Total Unencumbered Assets The Company and its Subsidiaries will maintain Total Unencumbered Assets of not less than 200% of the aggregate outstanding principal amount of the Unsecured Debt of the Company and its Subsidiaries on a consolidated basis.

  • 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 October 6, 2016, $13,000,000, (iii) as of any date of determination during the period from October 7, 2016 through and including October 13, 2016, $17,500,000, and (iv) as of any date of determination during the period from October 14, 2016 through and including December 31, 2016, $20,000,000.

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