Average Availability definition

Average Availability means, at any Adjustment Date, the average daily Availability for the fiscal quarter immediately preceding such Adjustment Date.

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.

Average Availability means for any period, the average daily amount of Availability during such period.

Examples of Average Availability in a sentence

• By the 20th day after the end of each fiscal quarter (commencing with the fiscal quarter ending June 30, 2012), the Borrowers shall deliver (i) to the Administrative Agent an Applicable Margin Certificate setting forth a calculation of the Average Availability for the fiscal quarter most recently ended and the corresponding Applicable Margins, and (ii) updates, if any, to Schedule O to the Collateral Questionnaire to reflect all locations of Inventory at the end of the fiscal quarter then ended.

• Annual Average Availability shall be calculated as per methodology given in the RfS.

• The Minimum Annual Average Availability as specified above, shall however be relaxable by Buyer to the extent of grid non-availability for evacuation which is beyond the control of the BESSD (as certified by the SLDC/RLDC) and / or upon occurrence of Force Majeure event as identified in BESPA (and occurrence of such Force Majeure event(s) has been mutually agreed) and affecting availability and supply of Contracted Capacity.

• Should the Average Availability of all inventory conveyances in operation fall more than 3% below the Guaranteed Up-Time of 98% during any Contract Year, Supplier shall pay UC a penalty subject to a 3% per annual contract value.

• The Monthly Average Availability shall be calculated for each month.

More Definitions of Average Availability

Average Availability means, on the applicable Adjustment Date, the quotient, expressed as a percentage, obtained by dividing (a) the average daily Availability for the Fiscal Quarter immediately preceding such Adjustment Date by (b) the average daily Line Cap for such Fiscal Quarter. In determining “Average Availability”, the Borrowing Base as of any day shall be calculated by reference to the most recent Borrowing Base Certificates delivered to the Administrative Agent on or prior to such day pursuant to Section 5.01(l).

Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each day in such period (as calculated by Agent as of the end of each respective day) divided by the number of days in such period.

Average Availability means, as of any date of determination with respect to any period, the sum of daily Availability on each day during the applicable period, divided by the number of days in such period.

Average Availability means, with respect to any fiscal quarter, (a) the sum of Availability for each day during such fiscal quarter divided by (b) the number of days in such fiscal quarter.

Average Availability has the meaning assigned to such term in the definition of “Applicable Rate.”

Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each day in such period (calculated as of the end of each respective day) divided by the number of days in such period.

Average Availability on any day is an amount equal to the quotient of (i) the sum of the end of day Facility Availability for each day during the most recently ended fiscal quarter, divided by (ii) the number of days in such fiscal quarter, all as determined by the Administrative Agent.