Alternate Excess Availability definition

Alternate Excess Availability means the amount, as determined by Agent, calculated at any time, equal to: (a) the Borrowing Base minus (b) the amount of all then outstanding and unpaid Obligations.
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Alternate Excess Availability means as of any date of determination, the Borrowing Base on such date minus Revolver Usage on such date.
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Alternate Excess Availability means the amount, as determined by Agent, calculated at any time, equal to: (a) the sum of the Tranche A Borrowing Base plus the Tranche B Borrowing Base minus (b) the amount of all then outstanding and unpaid Obligations.
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Examples of Alternate Excess Availability in a sentence

  • If at any time during any month, Alternate Excess Availability as determined by Agent is less than $10,000,000, Borrowers shall not, as of the end of such month, permit the Fixed Charge Coverage Ratio for the twelve (12) month period most recently ended to be less than 1.10 to 1.0.


More Definitions of Alternate Excess Availability

Alternate Excess Availability means the amount, as determined by Agent, calculated at any time, equal to: (a) the Borrowing Base minus (b) the sum of: (i) the amount of all then outstanding and unpaid Obligations, plus (ii) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of Borrowers which are more than sixty (60) days past due as of such time, plus (iii) the amount of checks issued by Borrowers to pay trade payables and other obligations which are more than sixty (60) days past due as of such time, but not yet sent.
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Alternate Excess Availability means the amount, as determined by Agent, calculated at any time, equal to:
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Related to Alternate Excess Availability

  • 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.

  • 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.

  • 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.

  • 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 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.

  • Maximum Availability has the meaning set forth in Section 2.1.1.

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

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

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

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

  • 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.

  • 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.

  • Available Commitment means a Lender’s Commitment minus:

  • Available Increase Amount means, as of any date of determination, an amount equal to the result of (a) $25,000,000 minus (b) the aggregate principal amount of Increases to the Revolver Commitments previously made pursuant to Section 2.14 of the Agreement.

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

  • Adjusted Leverage Ratio means, as of any date, the ratio of (a) Consolidated Total Funded Debt outstanding as of such date minus any Unrestricted Cash over $3,000,000 to (b) EBITDA for the period of four consecutive fiscal quarters ending on such date.

  • Consolidated Current Ratio means, as of any date of determination, the ratio of (a) Consolidated Current Assets as of such date to (b) Consolidated Current Liabilities as of such date.

  • Minimum Liquidity Amount shall have the meaning assigned to such term in the Pricing Side Letter.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

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

  • Total Available Amount With respect to any Distribution Date, the sum of the Available Interest and the Available Principal for such Distribution Date and the amount of all cash or other immediately available funds on deposit in the Reserve Account immediately prior to such Distribution Date.

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Canadian Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Canadian Revolving Commitments at such time and (ii) the Canadian Borrowing Base at such time, minus (b) Commitment Reserves established with respect to the Canadian Loan Parties and/or the Canadian Collateral at such time minus (c) the Aggregate Canadian Credit Exposure at such time.

  • Interest Coverage Ratio means, as of the end of each fiscal quarter, the ratio of (a) Consolidated EBITDA to (b) Consolidated Interest Expense, in each case for the then-most recently concluded period of four consecutive fiscal quarters.

  • Available Incremental Amount has the meaning specified in Section 2.14(4)(c).

  • 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.