Opening Availability. The Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations (on a pro forma 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 $15,000,000.
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent and Revolving Credit Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, and the incurrence of any initial Letter of Credit Obligations incurred (if any) and the consummation of the Related Transactions (on a pro forma 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 $15,000,0008,000,000.
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 reasonably determined by Administrative Agent, to provide BorrowersBorrower with Borrowing Availability on the Closing Date, collectively, with Net Borrowing Availability, after adding thereto all unrestricted cash on hand of Borrower and after giving effect to the initial Revolving Credit Advance made to each BorrowerAdvance, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma 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 $15,000,000.
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Samples: Credit Agreement (Roller Bearing Co of America Inc)
Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative AgentAgent in its reasonable credit judgment, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma 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 $15,000,00020,000,000 (based on the Borrowing Base Certificate determined as of April 30, 2009 and without regard to the Collateral Reserve).
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 reasonably determined by Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma 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 $15,000,0007,000,000.
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Opening Availability. The Eligible Accounts, Eligible Mexican Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma 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 $15,000,0007,500,000.
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of salessales and without deterioration of working capital) of at least $15,000,00020,000,000.
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma 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 $15,000,0005,000,000.
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma PRO FORMA 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 $15,000,000500,000.
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Samples: Credit Agreement (Track N Trail Inc)
Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Initial Funding Date shall be sufficient in value, as reasonably determined by Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of salesbusiness) of at least $15,000,00020,000,000.
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Samples: Credit Agreement (Gateway Inc)
Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma 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 $15,000,0004,250,000.
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Opening Availability. The Eligible Accounts and Eligible Inventory of each Borrower -------------------- and the Maximum Fixed Asset Availability 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 Administrative Agent, to provide Borrowers, collectively, with Net Borrowing Availability, after giving effect to the initial Revolving Credit Advance made to each Borrower, the incurrence of any initial Letter of Credit Obligations and the consummation of the Related Transactions (on a pro forma basis, with trade payables being paid currently, and expenses and liabilities being paid in the ordinary course of business and without acceleration of salessales and without deterioration of working capital) of at least $15,000,00024,000,000.
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Samples: Credit Agreement (Handleman Co /Mi/)