Examples of Aggregate Excess Availability in a sentence
Borrower shall maintain positive EBITDA measured quarterly and calculated on a trailing four quarter basis; provided that the above EBITDA requirement shall only be tested as of the end of a fiscal quarter if, at any time in the following fiscal quarter, the sum of Borrower's unrestricted and unencumbered (other than liens in favor of Lender) cash equivalents and cash (in U.S. Dollars in domestic bank accounts) plus Borrower's Aggregate Excess Availability was less than $7,500,000.
If at any time the Fixed Charge Coverage Ratio for the prior fiscal quarter of Manitowoc was less than 1.00:1.00, until such event is no longer continuing, the Seller and Manitowoc shall cause the Securitization Excess Availability to be no less than 15.0% of the Aggregate Excess Availability (as defined in the Senior Credit Agreement) at such time.
The making of a Loan, the issuance of a Letter of Credit or the provision of any other credit support to the extent that, immediately after its having been made, the result of the Aggregate Excess Availability minus the Minimum Excess Availability Amount is less than zero ($0).
For each period commencing on an Adjustment Date through the date immediately preceding the next Adjustment Date (each a "Rate Adjustment Period"), the Applicable Margin shall be the applicable margin set forth below with respect to the arithmetic mean of the daily Aggregate Excess Availability as determined for the Fiscal Quarter of BGI and its Subsidiaries ended immediately prior to the applicable Rate Adjustment Period.
If, at the end of any fiscal quarter, average Aggregate Excess Availability for the 60 days then ended is less than $20,000,000 or average Aggregate Borrowing Availability for the 60 days then ended is less than $10,000,000, then Borrowers shall not permit the Fixed Charge Coverage Ratio for the four consecutive fiscal quarters then ended to be less than 1.10 to 1.