Minimum Total Excess Availability Sample Clauses

Minimum Total Excess Availability. The Total Excess Availability as of the Closing Date shall be no less than 15.0% of the Line Cap.
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Minimum Total Excess Availability. Notwithstanding Section 4.1(k), each US Borrower shall not make, nor shall it permit any Obligor (including, for greater certainty, but without limitation, Canadian Borrower and HTM) to make, payments of any kind under the Amended Subordinated Credit Facility Agreement or in respect of the Subordinated Loans if: (i) the Total Excess Availability as determined by Lender would be less than US$5,000,000 after giving effect to any such payments (provided however and notwithstanding the foregoing but subject to subparagraphs (ii), (iii) and (iv) below, HTM shall be entitled to make the interest payments specified in Part II of Schedule 9.9 hereof on the dates and in the amounts therein specified), (ii) an Event of Default has occurred and is continuing or would occur as a result of making any such payments, (iii) there does not exist sufficient amounts available to US Borrowers and/or Canadian Borrower under the lending formulas pursuant to the Loan Agreements to make any such payments, or (iv) such payments will not be made in accordance with the terms of the Amended Subordinated Credit Facility Agreement and the Intercreditor Agreement.
Sample 1
Minimum Total Excess Availability. The Total Excess Availability as of the Closing Date shall be no less than 15.0% of the Line Cap 133 SECTION 6 CONDITIONS PRECEDENT TO ALL CREDIT EVENTS 134 6.01. Notice of Borrowing 134 6.02. Availability 134 6.03. No Default 134 6.04. Representations and Warranties 134 SECTION 7 REPRESENTATIONS AND WARRANTIES 134 7.01. Organizational Status 134 7.02. Power and Authority 135 7.03. No Violation 135 7.04. Approvals 135 7.05. Financial Statements; Financial Condition; Projections 135 7.06. Litigation 136 7.07. True and Complete Disclosure 136 7.08. Use of Proceeds; Margin Regulations 136 7.09. Tax Returns and Payments 136 7.10. ERISA 137 7.11. The Security Documents 137 7.12. Title to Real Estate 138 7.13. Subsidiaries 138 7.14. Compliance with Statutes; Sanctions; Patriot Act; Anti-Corruption Laws 138 7.15. Investment Company Act 139 Page 7.16. Environmental Matters 139 7.17. Labor Relations 139 7.18. Intellectual Property 139 7.19. Centre of Main Interests 139 7.20. Borrowing Base Certificate 140 7.21. Dutch Works Council Act 140 7.22. Canadian Pension Plans 140 SECTION 8 AFFIRMATIVE COVENANTS 140 8.01. Information Covenants 140 8.02. Books, Records and Inspections 143 8.03. Maintenance of Property; Insurance 144 8.04. Existence; Franchises 145 8.05. Compliance with Statutes, etc 146 8.06. Compliance with Environmental Laws 146 8.07. ERISA 146 8.08. Payment of Taxes 146 8.09. Use of Proceeds 147 8.10. Additional Security; Further Assurances; etc 147 8.11. Post-Closing Actions 148 8.12. Dutch Works Council Act 149 8.13. Certain Additional Account Security Actions and Additional Inventory Security Actions 150 8.14. Designation of Unrestricted Subsidiaries 150 8.15. Collateral Monitoring and Reporting 150 SECTION 9 NEGATIVE COVENANTS 154 9.01. Liens 154 9.02. Asset Sales 159 9.03. Restricted Payments and Restricted Junior Debt Payments 160 9.04. Indebtedness 163 9.05. Investments 167 9.06. Transactions with Affiliates 171 9.07. Modifications of Debt Documents, Certificate of Incorporation, By-Laws and Certain Other Agreements, etc 173 9.08. Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries 173 9.09. Business; Fiscal Year 175 9.10. Negative Pledges 175 9.11. Merger, Consolidation or Sale of All or Substantially All Assets 177 9.12. Financial Covenant 179 9.13. Canadian Pension Plans 180 SECTION 10 EVENTS OF DEFAULT 180 10.01. Payments 180 10.02. Representations, etc 180 10.03. Covenants 180 10.04. Default Under Other Agree...
Sample 1
Minimum Total Excess Availability. From November 8, 2001 through and including April 30, 2002, (i) Total Excess Availability less (ii) the Special Block Amount shall be no less than Five Million Dollars ($5,000,000).
Sample 1
Minimum Total Excess Availability. The Total Excess Availability as of the Restatement Effective Date, on a pro forma basis after giving effect to this Restatement Agreement, shall be no less than 15.0% of the Line Cap.
Sample 1

Related to Minimum Total Excess Availability

  • 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.

  • 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.

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

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio as of the end of any fiscal quarter ending on or after September 30, 2006, to be greater than the ratio set forth below opposite the fiscal quarter end: Fiscal Quarter Ending Ratio on or prior to December 31, 2008 6.50 to 1.0 thereafter but on or prior to December 31, 2010 6.00 to 1.0 after December 31, 2010 5.50 to 1.0

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

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Maximum Leverage Ratio As of the last day of each fiscal quarter, the Borrower shall not permit the ratio (the "Leverage Ratio") of (i) Consolidated Funded Indebtedness to (ii) EBITDA of the Borrower and its Subsidiaries, as at the end of and for the period of four consecutive fiscal quarters ending on such day, to be greater than (i) 2.00 to 1.00.

  • Maximum Consolidated Total Leverage Ratio The Borrower will cause the Consolidated Total Leverage Ratio to be less than (a) 4.00 to 1.00 at all times during the period from the Effective Date to and including December 30, 2009, (b) 3.75 to 1.00 at all times during the period from December 31, 2009 to and including December 30, 2010 and (c) less than 3.50 to 1.00 at all times thereafter.

  • 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.

  • Maximum Leverage Permit, as of any fiscal quarter end, the ratio of (a) Adjusted Portfolio Equity as of such fiscal quarter end to (b) Funded Debt as of such fiscal quarter end, to be less than 5.00 to 1.00.

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