ABL Availability definition

ABL Availability means “Availability” as defined in the ABL Credit Agreement, on the Effective Date, subject to any Subsequent Definition thereof.

ABL Availability means, as of any time, the amount available for borrowing by the Issuers and the Subsidiary Guarantors under the ABL Credit Agreement then in effect.

ABL Availability means, on any date of determination, (a) the ABL Loan Cap at such time minus (b) the Total ABL Outstandings at such time.

Examples of ABL Availability in a sentence

• On the Effective Date and immediately after giving effect to the Transactions contemplated to occur on the Effective Date and the payment of all related costs and expenses, Borrowers and their Subsidiaries shall have ABL Availability of at least $75,000,000.

• The Administrative Agent and the Lenders shall have received a Borrowing Base Certificate, as of a date mutually agreed, executed by a Financial Officer of the Borrower, demonstrating that there shall be no less than $1,100,000,000 of ABL Availability after giving pro forma effect to the Transactions on the Closing Date (including the incurrence of all Loans and Letters of Credit on the Closing Date).

• Prior to the FCCR Financial Covenant Trigger Date, the Borrowers and their Subsidiaries shall at all times maintain Availability of not less than the greater of (a) the Applicable ABL Availability Amount and (b) 12.5% of the Combined Line Cap (excluding the effect, if any, of any Term Pushdown Reserve).

• As used herein, the following terms have the meanings set forth below: ABL Availability: the “Availability” as such term is defined in the ABL Revolver Loan Agreement in effect on the date hereof and without giving effect to any modifications of any component definitions (or any sub-component definitions) therein.

• Prior to the FCCR Financial Covenant Trigger Date, the Borrowers and their Subsidiaries shall at all times maintain ABL Availability of not less than the greater of (a) the Applicable ABL Availability Amount and (b) 12.5% of the Combined Line Cap (excluding the effect, if any, of any Term Pushdown Reserve).” 4.

More Definitions of ABL Availability

ABL Availability at any time, the amount of undrawn availability under the ABL Facility then in effect at such time.

ABL Availability means the difference between (a) the Maximum ABL Amount, and (b) Revolver Usage (as defined in the ABL Credit Agreement, as in effect on the date hereof). *** Certain confidential information has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions.

ABL Availability means, at any time, the aggregate amount of the revolving loans, letter of credit accommodations and other financial accommodations available to the Grantors from the ABL Lenders based solely on the applicable percentages (as in effect on the date hereof or higher percentages, as amended with the consent of Term Administrative Agent (acting pursuant to the direction of the “Required Lenders” as such quoted term is defined in the Term Loan Agreement), or lower percentages, as amended without the consent of Term Administrative Agent, and without regard to any limitation based on the revolving loan commitment) of Eligible Accounts and Eligible Inventory (as such terms are defined in the ABL Credit Agreement as in effect on the date hereof or as the terms may be amended from time to time if the effect of such amendment is not to increase the amount of ABL Availability), determined without regard to any revolving loans, letter of credit accommodations or other financial accommodations (including Cash Management Obligations) then outstanding, but after giving effect to the Reserves (other than any Bank Product Reserve Amount (as defined in the ABL Credit Agreement as in effect on the date hereof)).

ABL Availability means on any date, the principal amount of Revolver Loans (as defined in the ABL DIP Credit Agreement) that the Borrowers and their Subsidiaries are entitled to borrow on such date under the ABL DIP Credit Agreement.

ABL Availability means “Availability” as such term is defined in the ABL Credit Agreement. “ABL Borrowing Base” means the “Borrowing Base” as such term is defined in the ABL Credit Agreement. “ABL Borrowing Base Certificate” means the “Borrowing Base Certificate” as such term is defined in the ABL Credit Agreement as in effect on the date hereof. “ABL Credit Agreement” means that certain Credit Agreement, dated as of January 31, 2020, by and among the Borrowers, the ABL Lenders, and the ABL Agent, as amended pursuant to that certain Omnibus Release, Amendment, Limited Waiver, and Reaffirmation Agreement dated as of October 14, 2020, as further amended by the Consent and Amendment No. 1 to Credit Agreement dated as of December 30, 2020, as further amended by the Amendment to Loan Documents dated as of May 13, 2021, as further amended by the Consent under Credit Agreement dated as of September 15, 2021, as further amended by the Amendment to Loan Documents dated as of October 29, 2021 and as further amended pursuant to that certain Amendment No. 4 to Credit Agreement and Loan Documents, dated of the Closing Date (the “ABL Fourth Amendment”), and as may be further amended, amended and restated, supplemented, extended or otherwise modified from time to time, and any replacement credit agreement entered into pursuant to any Refinancing Indebtedness in respect thereof, in each case in accordance with the provisions hereof and of the Intercreditor Agreement. “ABL Existing Term Loan” means the “Term Loan” as defined in the ABL Credit Agreement as in effect immediately prior to the date hereof.

ABL Availability means, as of any date of determination, (a) the “Maximum Borrowing Amount” (as defined in the ABL Credit Agreement) at such time minus (b) “Total Revolving Credit Outstandings” (as defined in the ABL Credit Agreement). “ABL Borrowing Base” means the “Borrowing Base” as defined in the ABL Credit Agreement. “ABL Collateral Documents” means all “Security Instruments” or similar term as defined in the ABL Credit Agreement, and all other security agreements, mortgages, deeds of trust and other collateral documents executed and delivered at any time in connection with any ABL Credit Agreement. “ABL Commitment” means “Commitment” as defined in the ABL Credit Agreement. “ABL Credit Agreement” means that certain Credit Agreement, dated as of the Closing Date, by and among Companies, the ABL Agent and the ABL Lenders, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Intercreditor Agreement. “ABL Credit Documents” means, collectively, the ABL Credit Agreement, the ABL Security Instruments, the Intercreditor Agreement, the other “Loan Documents” (as defined in the ABL Credit Agreement) and all other agreements, instruments and other documents executed and delivered at any time in connection with the ABL Credit Agreement (in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance with the terms of the Intercreditor Agreement). “ABL Indebtedness” means, collectively, the “Obligations” as defined in the ABL Credit Agreement not to exceed the amount of any such Indebtedness permitted pursuant to Section 6.1(k). “ABL Lenders” means the lenders from time to time party to the ABL Credit Agreement. “ABL Letters of Credit” means the letters of credit issued in accordance with the ABL Credit Agreement. “ABL Loans” means the revolving loans made in accordance with the ABL Credit Agreement.

ABL Availability means, as of any date of determination, the “Maximum Borrowing Amount ” (as defined in the ABL Credit Agreement) at such time. GS/Landec – Credit and Guaranty Agreement