Aggregate Borrowing Availability definition

Aggregate Borrowing Availability means, at any time, the Aggregate Facility Amount at such time minus the Total Credit Exposure at such time.

Aggregate Borrowing Availability means, at any time, the lesser of (a) the Aggregate Facility Amount at such time and (b) the sum of the Tranche A Borrowing Base and the Tranche B Borrowing Base at such time, reduced by the sum of the Total Credit Exposure for both Tranches at such time.

Aggregate Borrowing Availability means, at any time, the Borrowing Base then in effect, less the Letter of Credit Usage then in effect.

Examples of Aggregate Borrowing Availability in a sentence

• The Credit Parties shall have (a) Excess Availability at all times not less than $500,000 and (b) at all times, a positive difference between (i) Aggregate Borrowing Availability minus (ii) the aggregate amount of all outstanding Advances and the Letter of Credit Usage of not less than $5,000,000.

• So long as Aggregate Borrowing Availability is less than $40,000,000, Holdings and its Subsidiaries shall maintain a Fixed Charge Coverage Ratio of not less than 1.1 to 1.0, measured as of the last day of each month for the trailing twelve months then ended.

• So long as Aggregate Borrowing Availability is less than $40,000,000, Holdings and its Subsidiaries shall have EBITDA of at least $70,000,000, measured as of the last day of each month for the trailing twelve months then ended.

• After giving effect to any Reserves to be established on the Closing Date and any initial Revolving Credit Advances made to Borrowers and the incurrence of any initial Letter of Credit Obligations, Borrowers shall have Aggregate Borrowing Availability of at least $90,000,000 as of the Closing Date.

• An initial Borrowing Base Report dated as of the Closing Date, together with the receivable reports and information required thereby, verifying that the initial, Aggregate Borrowing Availability calculated as of March 17, 2000, is equal to or greater than Eighteen Million Dollars ($18,000,000).

More Definitions of Aggregate Borrowing Availability

Aggregate Borrowing Availability means as of any date of determination the sum of Canadian Borrowing Availability and U.S. Borrowing Availability.

Aggregate Borrowing Availability means, as of any date of determination, the lesser of (a) an amount equal to (i) the Maximum Amount minus (ii) the aggregate Revolving Loan then outstanding minus (iii) the aggregate Swing Line Loan then outstanding and (b) an amount equal to the sum of (i) the U.S. Borrowing Availability as of such date and (ii) the U.K. Borrowing Availability as of such date.

Aggregate Borrowing Availability means, at any given time, the sum of the US Tranche A Borrowing Availability, US Tranche A1 Borrowing Availability, Canadian Tranche A Borrowing Availability and Canadian Tranche A1 Borrowing Availability.

Aggregate Borrowing Availability means the sum of all the Borrowers' Borrowing Availability.

Aggregate Borrowing Availability means as of any date of determination the lesser of (a) the sum of (i) the Maximum Amount and (ii) $10,000,000 and (b) the sum of (i) the Aggregate Borrowing Base and (ii) the SMP Canada Borrowing Base, in the case of clauses (a) and (b) above, less the sum of (x) the aggregate Revolving Loans then outstanding and (y) the aggregate advances of the Term Loan then outstanding; provided that an Overadvance in accordance with Section 1.1(a)(iii) hereunder or under the Canadian Credit Agreement may cause the Revolving Loan or the Term Loan, as applicable to exceed the Aggregate Borrowing Base or the SMP Canada Borrowing Base, as applicable, by the amount of any such permitted Overadvance. Aggregate Borrowing Availability shall be determined (x) with trade payables being paid consistent with past practices, with expenses and liabilities being paid in the ordinary course of business, without acceleration of sales and without deterioration of working capital and (y) less the Borrowing Availability Reserve, the New Indenture Maturity Reserve and the Indenture Maturity Reserve.

Aggregate Borrowing Availability means, as of any date of determination, the lesser of (a) an amount equal to (i) the sum of the Maximum Amount plus the “Maximum Amount” under the SFS Revolving Credit Agreement minus (ii) the sum of the aggregate Revolving Loan then outstanding plus the aggregate “Revolving Loan” then outstanding under the SFS Revolving Credit Agreement minus (iii) the sum of the aggregate Swing Line Loan then outstanding plus the aggregate “Swing Line Loan” then outstanding under the SFS Revolving Credit Agreement and (b) an amount equal to the sum of (i) the Domestic Borrowing Availability as of such date plus (ii) the Foreign Borrowing Availability as of such date plus (iii) the “Domestic Borrowing Availability” as of such date under the SFS Revolving Credit Agreement plus (iv) the “Foreign Borrowing Availability” as of such date under the SFS Revolving Credit Agreement.

Aggregate Borrowing Availability means the sum of Cdn. Borrowing Availability and US Borrowing Availability.