Availability Shortfall definition

Availability Shortfall means a condition which occurs, at any time and from time to time, when the Borrowers' Borrowing Base Availability has remained below $5,000,000 for a period of ten (10) consecutive Business Days during the term hereof.
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Availability Shortfall means, at any time, if the Outstanding Facilities Amount exceeds the Borrowing Base.
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Availability Shortfall shall have the meaning set forth in Section 7.6(B).
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Examples of Availability Shortfall in a sentence

  • Buyer may setoff any amounts due from Seller for Availability Shortfall Payments.

  • The Parties shall negotiate in good faith to resolve any disputed portion of the Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment amount and shall, as part of such good faith negotiations, promptly provide information or data relevant to the dispute as each Party may possess which is requested by the other Party.

  • Notwithstanding any payment of any Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment, Seller shall remain obligated to convey all Scheduled Amounts, if SCE is not Seller’s Scheduling Coordinator, or Delivered Amounts, if SCE is Seller’s Scheduling Coordinator and all Green Attributes, Capacity Attributes and Resource Adequacy Benefits to SCE during the Facility Term, as provided in Sections 3.01 and 3.02.

  • Seller shall have thirty (30) days after receipt of SCE’s Notice to review SCE’s calculation and either pay the entire Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment amount claimed by SCE or pay any undisputed portion and provide Notice to SCE of the portion it disputes along with a detailed explanation of, and rationale for, Seller’s calculation methodology, annotated work papers and source data.

  • SCE’s sole and exclusive remedy for Seller’s breach of Seller’s Annual Energy Obligation, Seller’s Annual Availability Obligation and/or Seller’s Long Term Availability Obligation shall be the receipt of Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment.

  • If the Parties are unable to resolve a dispute regarding any Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment amount within thirty (30) days after the sending of a Notice of dispute by Seller, either Party may submit the dispute to arbitration as provided in Article Twelve.

  • The occurrence of an Availability Shortfall for two (2) consecutive Contract Years shall be a Seller Event of Default, and Utility shall be entitled to the rights and remedies set forth in Section 11 of the Agreement.

  • Following the end of each Contract Year, Utility will deliver to Seller an invoice showing in reasonable detail the Utility’s computation of Availability Shortfall, if any, for the prior Contract Year and any amount due to Utility for damages calculated pursuant to this Exhibit F.

  • In the event the replacement energy procured by Utility as a result of Seller’s failure to deliver the Availability Shortfall results in incremental ancillary services and transmission costs, an amount equal to such costs incurred by Utility, provided however that Utility shall provide commercially reasonable evidence that it incurred such costs as a result of Seller’s failure to deliver in accordance with the Availability Guarantee.

  • Upon and after the event of an Availability Shortfall, the Adjusted Net Worth of the Borrowers shall not, at any time during the then remaining term hereof, be less than $105,000,000.


More Definitions of Availability Shortfall

Availability Shortfall means that Excess Availability, as measured by Agent at any time and from time to time during the term hereof, is less than $5,000,000.
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Availability Shortfall means the positive difference between the Guaranteed Availability Factor and the Actual Availability Factor.
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Availability Shortfall shall have the meaning specified in subsection 14(a).
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Related to Availability Shortfall

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • 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.

  • Unfunded Exposure Shortfall has the meaning set forth in Section 8.1(a).

  • Capitalization Reimbursement Shortfall Amount With respect to any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, each Loan Group, the amount, if any, by which the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of all Mortgage Loans (or, if the Mortgage Pool is comprised of two or more Loan Groups, on the Mortgage Loans in the related Loan Group) during the preceding calendar month exceeds the amount of principal payments on the Mortgage Loans included in the Available Distribution Amount (or, if the Mortgage Pool is comprised of two or more Loan Groups, Available Distribution Amount for the related Loan Group) for that Distribution Date.

  • Availability Payment means the payment to Owner described in Section 8.1 for Condition 1 and 8.2 for Condition 2.

  • Availability Block means $15,000,000.

  • Working Capital Shortfall means the amount, if any, by which Working Capital is less than the Working Capital Target.

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Collateral Minimum Monthly Interest shall have the meaning specified in subsection 4.02(c).

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Principal Deficiency Amount For any Distribution Date and for any Undercollateralized Group, the excess, if any, of the aggregate Class Certificate Principal Balance of such Undercollateralized Group immediately prior to such Distribution Date over the sum of the Principal Balances of the Mortgage Loans in the related Loan Group immediately prior to such Distribution Date.

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Curtailment Shortfall For any Distribution Date and for any Curtailment received in the Prior Period, an amount equal to one month’s interest on such Curtailment at the Pass-Through Rate for the applicable Mortgage Loan.

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

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

  • Non-PO Formula Principal Amount As to any Distribution Date, the sum of (i) the sum of the applicable Non-PO Percentage of (a) all monthly payments of principal due on each Mortgage Loan on the related Due Date, (b) the principal portion of the purchase price of each Mortgage Loan that was repurchased by the Seller pursuant to this Agreement as of such Distribution Date, excluding any Mortgage Loan that was repurchased due to a modification of the Mortgage Rate, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan received with respect to such Distribution Date, (d) any Insurance Proceeds or Liquidation Proceeds allocable to recoveries of principal of Mortgage Loans that are not yet Liquidated Mortgage Loans received during the calendar month preceding the month of such Distribution Date, (e) with respect to each Mortgage Loan that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan, and (f) all partial and full Principal Prepayments received during the related Prepayment Period and (ii) (A) any Subsequent Recoveries received during the calendar month preceding the month of such Distribution Date, or (B) with respect to Subsequent Recoveries attributable to a Discount Mortgage Loan that incurred (1) an Excess Loss or (2) a Realized Loss after the Senior Credit Support Depletion Date, the Non-PO Percentage of any Subsequent Recoveries received during the calendar month preceding the month of such Distribution Date.

  • Class A Non-PO Optimal Amount As to any Distribution Date, the sum for such Distribution Date of (i) the Class A Interest Accrual Amount, (ii) the Aggregate Class A Unpaid Interest Shortfall and (iii) the Class A Non-PO Optimal Principal Amount.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Deficiency Amount shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Class A Non-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan, and (y) the sum of:

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.