Suppressed Availability Clause Samples
The Suppressed Availability clause restricts or limits the availability of certain goods, services, or information under specified conditions. In practice, this clause may be used to temporarily withhold products from the market, limit access to a service during maintenance, or prevent disclosure of information due to regulatory requirements. Its core function is to provide a clear legal basis for withholding availability, thereby managing expectations and reducing liability when access cannot be guaranteed.
Suppressed Availability. (a) Borrowers shall, maintain with Lender, at all times after the date hereof, Suppressed Availability of not less than $1,800,000. Lender may, but shall not be required to and in addition to its other rights, in its discretion, use the amount of Suppressed Availability (i) to pay costs and expenses incurred by Borrowers or chargeable to Borrowers under this Agreement, (ii) to cure defaults of Borrowers or NSC under this Agreement, or by Borrower or NSC or any other Obligor under any of the other Financing Agreements or any other agreement of any Borrower or NSC with any third party, (iii) to pay taxes of Borrowers or NSC and (iv) for, any other purpose permitted by, or to make any other payment which Lender is authorized to make, under this Agreement.
(b) If the amount of Suppressed Availability shall at any time be less than $1,800,000 Borrowers shall, at all times, on notice by Lender, immediately take such actions as are required by Lender, including delivery to Lender of additional Pledged Cash, so that the amount of Suppressed Availability shall not be less than $1,800,000.
Suppressed Availability a. Borrowing Base as of the last day of the fiscal quarter ended __________, 20__ $______
b. Line of Credit Commitments as of the last day of the fiscal quarter ended __________, 20__ $______
c. Result of Line a – Line b $______ d. Greater of $0 and Line c $______
Suppressed Availability. Borrower shall maintain ----------------------------- Suppressed Availability in an amount of at least $7,000,000 at all times."
(b) Section 6 is amended by deleting subsection 6.1 (B) in its entirety, and inserting the following in lieu thereof; "Borrower shall maintain Tangible Net Worth equal to at least $47,500,000 from August 1, 1998 through August 1, 1998, and $55,000,000 on August 31, 1998 and at all times thereafter."
Suppressed Availability at any time of determination, the lesser of (i) the amount by which clause (b) of the definition of “Borrowing Base” exceeds the aggregate Commitments and (ii) an amount equal to 5.0% of the aggregate Commitments. 4918-8227-4946 v.17 44 Swap: as defined in §1a(47) of the Commodity Exchange Act. Swap Obligations: obligations under an agreement relating to a Swap.
Suppressed Availability. Borrower shall maintain Suppressed ----------------------- Availability in an amount of at least $3,500,000 at all times.
(d) Subsection 8.1(C) is amended by deleting said subsection in its entirety and replacing it with the following:
Suppressed Availability. Borrower shall maintain Suppressed ----------------------- Availability in an amount of at least $5,000,000 at all times."
(c) Section 5 is amended by inserting the following new subsection immediately after subsection 5.16;
Suppressed Availability an amount equal to the greater of (i) the difference between clause (ii) of the definition of Borrowing Base, minus the aggregate Commitments and (ii) zero.
Suppressed Availability. Borrower shall maintain, at all times, ----------------------- Suppressed Availability in an amount of Seven Million Dollars ($7,000,000), plus an additional Five Hundred Thousand Dollars ($500,000) of Suppressed Availability for each additional One Million Dollars ($1,000,000) borrowed above Fifteen Million Dollars ($15,000,000).