Seasonal Availability Block Clause Samples

Seasonal Availability Block as of any date of calculation during the periods set forth below, the following amounts (the “Seasonal Availability Amount”): from and after December 20 of each year through and including January 20 of the immediately succeeding year $ 12,500,000.00 from and after January 21 through and including February 10 of each year $ 5,000,000.00 from and after February 11 through and including December 19 of each year $ 0 provided, that notwithstanding anything to the contrary, if an Event of Default shall have occurred at any time from and after December 20 of any year through and including February 10 of the immediately succeeding year, the Seasonal Availability Block shall be the Seasonal Availability Amount in effect as of the occurrence of such Event of Default at all times for the period commencing on the occurrence of such Event of Default and continuing until such time as the Required Lenders shall have waived such Event of Default in accordance with the terms hereof (except that from and after December 20 of each year through and including January 20 of the immediately succeeding year, the Seasonal Availability Block shall be $12,500,000.00). Secured Parties - the Administrative Agent, the Canadian Agent, the Co-Collateral Agents, the Issuing Banks, the Lenders and the providers of Bank Products. Security Documents - this Agreement, each Guaranty, the Trademark Assignments, the Patent Security Agreement, the Stock Pledge Agreements, the Canadian Security Documents, and the Deposit Account Control Agreements, together with all security agreements, deeds of hypothec, pledge agreements, Mortgages or other collateral security agreements, instruments or documents (including Lien Waivers and Lien Priority Agreements) entered into or to be entered into by any Person pursuant to which such Person grants or perfects a security interest in its assets to any Agent in order to secure any of the Obligations, including, without limitation PPSA and UCC financing statements and certified statements issued by the Québec Register of Personal and Movable Real Rights, required to be executed or delivered pursuant to any Security Document. Senior Officer - the chairman of the board, president, chief executive officer, treasurer or chief financial officer of a Borrower or, if the context requires, a Loan Party. Settlement Report - a report delivered by the Administrative Agent to the Lenders summarizing the Loans and participations in US LC Obligations and Canadian LC Obligation...