ABL Excess Availability definition

ABL Excess Availability means “Excess Availability” as defined in the ABL Credit Agreement.
Sample 1Sample 2Sample 3
ABL Excess Availability means, at any time, an amount equal to (a) the ABL Line Cap, minus (b) the aggregate ABL Revolving Exposures of all ABL Revolving Lenders at such time.
Sample 1Sample 2Sample 3
ABL Excess Availability means “Availability” as such term is defined in the ABL Credit Agreement.
Sample 1Sample 2

Examples of ABL Excess Availability in a sentence

  • After giving effect to all Letters of Credit (as defined under the ABL Credit Agreement) to be issued at, or immediately subsequent to, the establishment of the ABL Credit Agreement, and to the making of the Term Loans hereunder, ABL Excess Availability (as defined under the ABL Credit Agreement) shall be no less than $20,000,000.

  • The Company will not at any time permit ABL Excess Availability to be less than the greater of (a) $80,000,000 (or as such amount shall be increased pursuant to Section 2.09(g) of the ABL Credit Agreement as in effect on the Closing Date) and (b) ten percent (10.0%) of the ABL Maximum Credit Amount (without giving effect to the Term Loan Push-Down Reserve).

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 or (b) ten percent (10%) of the sum of (i) the ABL Loan Cap plus (ii) the lesser of (A) the Facilities and (B) the Term Loan Borrowing Base.

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 or30,000,000 and (b) ten percent (10%) of the sum of (i) the ABLGlobal Loan Cap plus (ii) the lesser of (A) the Facilities and (B) the Term Loan Borrowing Base.

  • The Borrower will not permit ABL Excess Availability to be less than or equal to 12.5% of the ABL Line Cap.

  • The Borrower shall maintain, at all times, ABL Excess Availability of at least the greater of (a) $25,000,000 and (b) ten percent (10%) of the Global Loan Cap.

  • After giving effect to (i) the making of any Committed Loans (as defined in the ABL Credit Agreement) and the issuance of any Letters of Credit (as defined under the ABL Credit Agreement) under the ABL Credit Agreement, in each case, on the Closing Date and (ii) the making of the Term Loans hereunder and the implementation of any required Term Loan Reserve, in each case on the Closing Date, ABL Excess Availability shall be not less than $22,500,000.

  • For purposes of calculating ABL Excess Availability as of the date hereof, the Lead Borrower, on behalf of the Borrowers, shall certify to the Administrative Agent that all accounts payable, lease payments, payments due under Indebtedness (other than the Obligations), and Taxes are current consistent with current Borrowers’ practices given the COVID-19 environment and excluding good faith disputes and any other items disclosed to the Collateral Agent prior to the Closing Date.

  • Permit ABL Excess Availability, at any time, to be less than the greater of (a) 10% of the ABL Commitments and (b) $9,500,000.


More Definitions of ABL Excess Availability

ABL Excess Availability means, at any time, the positive or negative amount equal to (a) the Stipulated ABL Borrowing Base minus (b) the Revolving Exposure.
Sample 1Sample 2
ABL Excess Availability shall be the amount calculated as “Excess Availability” in the ABL Credit Agreement; provided that in all instances and for all purposes hereunder, such amount shall be net of the Push Down Reserve, if any, and the Availability Block (in each case, without duplication to the extent the Availability Block and Push Down Reserve may already be included in the calculation (including component definitions) of “Excess Availability” in the ABL Credit Agreement.
Sample 1Sample 2
ABL Excess Availability means “Excess Availability” as such term is defined in the ABL Credit Agreement. “ABL Lenders” means the “Lenders” (or any analogous term) as defined in the ABL Credit Agreement. “ABL Loan Cap” means the “Loan Cap” as defined in the ABL Credit Agreement.
Sample 1
ABL Excess Availability shall have the meaning provided to the term “Excess Availability” in the ABL Credit Agreement as in effect on the date hereof. For the avoidance of doubt, calculation of Excess Availability under the ABL Credit Agreement shall in all instances take into account the Wind-up Reserve (if applicable) and the Push Down Reserve.
Sample 1
ABL Excess Availability means “Availability” as such term is defined in the ABL Credit Agreement. “ABL Intercreditor Agreement” means the Intercreditor Agreement, dated as of the date hereof, by and among the Administrative Agent and the ABL Agent, as acknowledged by the Loan Parties as amended, restated, amended and restated, supplemented or otherwise modified from time to time. “ABL Lenders” means the “Lenders” as such term is defined in the ABL Credit Agreement. “ABL Loan Documents” means the “Loan Documents” as such term is defined in the ABL Credit Agreement.
Sample 1

Related to ABL Excess Availability

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Canadian Availability means (a) the lesser of (x) the Canadian Sublimit and (y) the sum of (i) the Canadian Borrowing Base plus (ii) solely to the extent the total Revolving Exposure relating to the Canadian Borrower exceeds the Canadian Borrowing Base, the US Availability (calculated without giving effect to any Canadian US Borrowing Base Utilization), minus (b) the total Revolving Exposure relating to the Canadian Borrower.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Maximum Credit means, at any time, the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Average Revolver Usage means, with respect to any period, the sum of the aggregate amount of Revolver Usage for each day in such period (calculated as of the end of each respective day) divided by the number of days in such period.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Average Delinquency Ratio on any Payment Date means the average of the Delinquency Ratios for the preceding three calendar months.