Net Availability. Borrower and Guarantors shall, at all times, have Net Availability of not less than Five Million Dollars ($5,000,000).
Net Availability. The Agent shall be satisfied that after giving effect to the Term Loan and the initial Revolving Loan and other extensions of credit to be made at closing, the Companies shall have opening Net Availability of not less than $25.0 million, with expenses, trade payables and other liabilities being paid in the ordinary course of business and not being delinquent for more than ten (10) days.
Net Availability. The Agent shall be satisfied that on the Closing Date the Companies shall have opening Net Availability of not less than the Net Availability Minimum then in effect, with expenses, trade payables and other liabilities being paid in the ordinary course of business and not being delinquent for more than ten (10) days.
Net Availability. Agent shall have determined that immediately after Lenders have made the initial Loans and issued the initial Letters of Credit and LC Guaranties contemplated hereby, and Borrower has paid or has reserved for the payment of all closing costs incurred in connection with the Tender Offer and the other transactions contemplated hereby, including, without limitation, payment of all costs and expenses to be incurred in connection with the consummation of the Tender Offer and all severance costs that become due and/or vested upon the consummation of the Tender Offer, Net Availability shall not be less than Fifteen Million Dollars ($15,000,000).
Net Availability. (3c minus 4d) The Borrower, by and through its officer signing on its behalf below, certifies that:
1. The information set forth above as well as all representations and warranties of Borrower to Lender set forth herein or in any of the Documents (as defined in the Agreements) remain accurate and complete in all respects;
2. There does not now exist an Event of Default (as defined in the Agreement) or an event or condition which, with the giving of notice of passage of time, or both, would be or become an Event of Default. By: Name: Title: Dated: Israel Discount Bank of New York 000 Xxxxx Xxxxxx Xxx Xxxx, XX 00000 From time to time in the course of its business and banking relations, the undersigned borrower (“Borrower”), through its officers and agents, may transmit to Israel Discount Bank of New York (“IDB Bank”) instructions by telephone, facsimile, email, telex or cable (collectively, the “Instructions”) regarding the Loan being extended contemporaneously herewith, related loans and/or deposit accounts including, without limitation, (a) IDB Bank’s acceptance or renewal of the time or savings deposits of the undersigned; (b) the withdrawal or transfer of funds from deposit accounts of the Borrower; (c) obtaining advances under the Loan or additional loans; and (d) requesting issuance of letters of credit, including amendments or waivers of discrepancies of such letters of credit. With regard to all such Instructions, the Borrower agrees, pursuant to this instructions agreement (“Instructions Agreement”) as follows:
1. IDB Bank is under no obligation to accept such Instructions and, by accepting any such Instructions in any instance, IDB Bank is under no obligation to accept subsequent Instructions.
2. IDB Bank is under no obligation to verify Instructions and IDB Bank may act upon Instructions it believes to be given by anyone authorized to give Instructions.
3. If after receiving Instructions, IDB Bank determines in its sole judgment that (i) IDB Bank cannot for any reason comply with or fulfill the Instructions, in whole or in part; or (ii) the request is unclear or additional details or information is required in order for IDB Bank to comply with the Instructions in whole or in part, then IDB Bank may, in its sole discretion: (A) comply with or fulfill the Instructions in part only or not at all; (B) delay in complying with or fulfilling the Instructions in whole or in part until additional details or information are received by IDB Bank; (C) take su...
