Availability Deficiency means, in relation to any day:
Availability Deficiency has the meaning specified therefor in Section 2.05(c)(iv).
Availability Deficiency means the occurrence, as at any time, of a condition in which (i) the sum of (a) the then aggregate outstanding principal amount of the Revolving Loans plus (b) the then aggregate Letter of Credit Exposure exceeds (ii) $35,000,000.
Examples of Availability Deficiency in a sentence
No Default, Event of Default, Global Borrowing Base Deficiency, U.S. Borrowing Base Deficiency or Global Availability Deficiency shall have occurred which is continuing.
In relation to any day, the amount payable under the Guarantees made under this Clause 23 shall be limited to the amount of the Availability Deficiency in respect of such day.
Each occurrence of Trailer Availability Deficiency shall be assigned to the month in which the period of Trailer Availability Deficiency commenced.
Seller shall Notify Buyer each time there is an occurrence of Trailer Availability Deficiency.
In the event of two (2) or more occurrences of Trailer Availability Deficiency during a month, Seller shall be entitled to charge Buyer a penalty of $3,000 per occurrence beginning with the second (2nd) such occurrence.
More Definitions of Availability Deficiency
Availability Deficiency. Dollar Equivalent", "Dilution", "Dilution Reserve", "Eligible Rolling Stock", "Eligible Accounts Receivable", "Net Book Value ", "Rolling Stock Depreciation Amount", "Significant Customer", "Gross Orderly Liquidation Value" or "Net Amount of Eligible Accounts Receivable", that would result in an increase in the Borrowing Base (or in any definition contained in the Financing Agreement used in connection with the definition of the foregoing terms that would result in an increase in the Borrowing Base), in the case of each of clauses (iii) through (vii) above, without the written consent of each Senior Lender. Notwithstanding the foregoing, no amendment, waiver or consent shall, unless in writing and signed by an Agent, affect the rights or duties of such Agent (but not in its capacity as a Lender) under this Agreement or the other Loan Documents.
Availability Deficiency means the occurrence, as of any time, of a condition in which (i) the sum of (a) the then aggregate outstanding principal amount of the Revolving Loans plus (b) the then outstanding principal amount of the Term Loan plus (c) the then aggregate Letter of Credit Exposure exceeds (ii) $7,500,000. 8 "Borrower" means each of FM Manufacturing and FM Sales, and "Borrowers" means, collectively, FM Manufacturing and FM Sales. To the extent a term or provision of this Agreement is applicable to a "Borrower," it is applicable to each Borrower unless the context expressly indicates otherwise.
Availability Deficiency means, at any time, the amount, if any, by which the Revolving Credit Outstandings at such time exceed the Availability in effect at such time.
Availability Deficiency means the occurrence, as at any date, of a condition in which (i) the sum of (a) the then aggregate outstanding principal amount of the Revolving Loans PLUS (b) the then aggregate outstanding principal amount of the Term Loans PLUS (c) the aggregate Letter of Credit Face Amount for all Letters of Credit then outstanding PLUS (d) the Reserve Amount then in effect for each Borrower, exceeds (ii) the difference of (a) Twenty Million Dollars ($20,000,000) LESS (b) the greater of (A) the aggregate amount of the amortization payments of the Term Loans (including any mandatory payments of the Special Term Loan) required to have been made by Borrowers on or prior to such date or (B) the aggregate principal amount of the Term Loans repaid by the Borrowers as of such date.
Availability Deficiency means, on the date of determination, the amount by which the aggregate outstanding Loans exceed the Availability Amount at such time.
Availability Deficiency shall be deleted in its entirety and the following substituted in lieu thereof:
Availability Deficiency means the occurrence, as at any date, of a condition in which (i) the sum of (a) the then aggregate outstanding principal amount of the Revolving Loans PLUS (b) the then aggregate outstanding principal amount of Term Loan A PLUS (c) the then aggregate outstanding principal amount of Term Loan B PLUS (d) the then aggregate outstanding principal amount of the Acquisition Special Advance PLUS (e) the Reserve Amount then in effect, exceeds the lesser of (ii) fifteen Million Dollars ($15,000,000) or (iii) the Borrowing Base.