Common use of Opening Availability Clause in Contracts

Opening Availability. The Eligible Accounts and Eligible Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by Agents, to provide Borrower with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least $10,000,000.

Appears in 1 contract

Samples: Credit Agreement (Filenes Basement Corp)

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Opening Availability. The Eligible Accounts Accounts, Eligible Inventory and Eligible WIP Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by AgentsAgent, to provide Borrower with Net borrowing availability against the Borrowing AvailabilityBase, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Advance and Letter of Credit Obligations and the consummation of the Related Transactions incurred (if any) (on a pro forma basis basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) ), of at least $10,000,0002,000,000.

Appears in 1 contract

Samples: Credit Agreement (Solo Cup CO)

Opening Availability. The Eligible Accounts and Eligible Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Restatement Date shall be sufficient in value, as determined by AgentsInventory and Receivables Security Agent, to provide Borrower with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance, Advance and the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least $10,000,00050,000,000.

Appears in 1 contract

Samples: Revolving Loan Agreement (Wheeling Pittsburgh Corp /De/)

Opening Availability. The Eligible Accounts and Eligible Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by AgentsAgent, to provide Borrower with Net Revolving Borrowing Availability, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least $10,000,0003,000,000.00.

Appears in 1 contract

Samples: Credit Agreement (Pioneer Drilling Co)

Opening Availability. The Eligible Accounts and Eligible Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by AgentsAgent, to provide Borrower with Net Borrowing Availability, after giving effect to the initial any Revolving Credit Advance, Advance that may be made on the incurrence of any initial Letter of Credit Obligations Closing Date and the consummation of the Related Transactions transactions contemplated hereby (on a pro forma basis basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least $10,000,000.

Appears in 1 contract

Samples: Credit Agreement (Renaissance Cosmetics Inc /De/)

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Opening Availability. The Eligible Accounts and Eligible Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by Agents, to provide Borrower with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least $10,000,00025,000,000.

Appears in 1 contract

Samples: In Possession Credit Agreement (Filenes Basement Corp)

Opening Availability. The Eligible Accounts and Eligible Inventory of Borrower supporting the initial Revolving Credit Advance and the initial Letter of Credit Obligations incurred and the amount of the Reserves to be established on the Closing Date shall be sufficient in value, as determined by AgentsAgent, to provide Borrower with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of sales) of at least $10,000,0007,000,000.

Appears in 1 contract

Samples: Credit Agreement (Analysts International Corp)

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