Minimum Undrawn Availability Clause Samples
Minimum Undrawn Availability. Cause to be maintained at all times Undrawn Availability equal to or greater than ten percent (10%) of the Maximum Revolving Advance Amount; provided, however, that, no more than six (6) times per year, the failure to maintain Undrawn Availability equal to or greater than ten percent (10%) of the Maximum Revolving Advance Amount at any time shall not be deemed an Event of Default hereunder unless Undrawn Availability is less than ten percent (10%) for a period of up to three (3) consecutive Business Days (the “Grace Period”); provided, further, however, that in each period of forty-five (45) consecutive days, no more than one (1) Grace Period shall occur.
Minimum Undrawn Availability. Not permit Undrawn Availability on any day during the period from and including the Eighteenth Amendment Effective Date through and including December 26, 2024 to be less than $5,000,000.
Minimum Undrawn Availability. Maintain Undrawn Availability of at least $3,000,000 at all times until receipt by Agent of Borrower’s June 30, 2022 Compliance Certificate.”
(d) Exhibit 1.2(a) is deleted in its entirety and replaced with a new Exhibit 1.2(a) attached hereto and incorporated herein by reference.
Minimum Undrawn Availability. Maintain Undrawn Availability of at least $3,000,000 at all times until receipt by Agent of Borrower’s December 31, 2022 Compliance Certificate.”
Minimum Undrawn Availability. (i) Commencing with the Fourth Amendment Closing Date, and continuing at all times until December 31, 2024, not permit Undrawn Availability to be less than $3,500,000, and (ii) commencing with December 31, 2024, and continuing at all times until June 30, 2026, not permit Undrawn Availability to be less than $2,500,000.
Minimum Undrawn Availability. Maintain at all times an Undrawn Availability of at least $1,000,000.
Subsection 13.1 is hereby deleted and new Subsection 13.1 is substituted therefor to read as follows:
Minimum Undrawn Availability. Maintain at all times Undrawn Availability of not less than $5,000,000.
Minimum Undrawn Availability. As of and at all times after the Fourth Amendment Closing Date, maintain at all times Undrawn Availability of not less than the greater of (a) Twelve Million Five Hundred Thousand and 00/100 Dollars ($12,500,000.00) and (b) twelve and one-half of one percent (12.5%) of the Maximum Revolving Advance Amount.
Minimum Undrawn Availability. Maintain at all times a minimum Undrawn Availability of not less than $5,000,000.
(L) Subsection 9.9 of the Loan Agreement is hereby deleted and replaced with a new Subsection 9.9 to read as follows:
Minimum Undrawn Availability. Permit Undraw Availability (without giving effect to clause (iv) of the "Formula Amount" in Section 2.01) at any time to be less than an amount equal to $15,000,000 LESS the aggregate amount of proceeds received by Activision or Activision Holdings from the exercise of stock options since May 1, 2000."