Average Daily Excess Availability definition

Average Daily Excess Availability means the average daily Excess Availability for the immediately preceding Fiscal Quarter.
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Average Daily Excess Availability means the average daily Excess Availability for the immediately preceding fiscal quarter.
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Average Daily Excess Availability means, as of any day, the average of the daily Available Facility Amounts for the immediately preceding Fiscal Quarter.
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Examples of Average Daily Excess Availability in a sentence

  • The LIBOR loans bear interest at LIBOR plus an applicable margin of (a) 2.25% if the Average Daily Excess Availability Percentage (as defined in the ABL Facility Credit Agreement) exceeds 25% or (b) 2.50% if the Average Daily Excess Availability Percentage is equal to 25% or less.

  • The Prime Rate loans bear interest at a Prime Rate (equal to the higher of (a) the applicable prime lending rate, (b) 0.50% above the overnight federal funds rate, or (c) 1.00% above LIBOR, subject to a 0.25% floor), plus an applicable margin of (x) 1.25% if the Average Daily Excess Availability Percentage exceeds 25% or (y) 1.50 % if the Average Daily Excess Availability Percentage is 25% or less.

  • The LIBO Loans under the ABL bear interest at the LIBO Rate plus 1.50%, with one step-down to the LIBO Rate plus 1.25% if the Average Daily Excess Availability (as defined in the Prepetition Credit Agreement) is equal to or greater than 40% of the Revolving Loan Cap (as defined in the Prepetition Credit Agreement).

  • The Prime Rate Loans bear interest at the Prime Rate plus 0.50% with a step-down to the Prime Rate plus 0.25% if the Average Daily Excess Availability is equal to or greater than 40% of the Revolving Loan Cap.The LIBO Loans under the Term Loan bear interest at the LIBO Rate plus 6.125%, and the Prime Rate Loans bear interest at the Prime Rate plus 5.125%.

  • The Prepetition ABL Facility provides for LIBOR Loans and Prime Rate Loans.LIBOR Loans bear interest at LIBOR plus an applicable margin of 2.25% if the Average Daily Excess Availability Percentage exceeds 25% and 2.50% if the Average Daily Excess Availability Percentage is 25% or less.


More Definitions of Average Daily Excess Availability

Average Daily Excess Availability means, as of any date of determination thereof, the average daily Excess Availability for the immediately preceding Fiscal Quarter.
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Average Daily Excess Availability means, with respect to any fiscal quarter, (a)(i) the sum of Excess Availability for each day during such fiscal quarter, divided by (ii) the number of days in such fiscal quarter, divided by (b)(i) the Aggregate Commitments in effect for each day during such fiscal quarter divided by (ii) the number of days in such fiscal quarter.
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Average Daily Excess Availability means, for any period, the result of the sum of the Excess Availability as of the end of each day during such period, divided by the number of days in such period.
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Average Daily Excess Availability means the average daily Excess Availability for the immediately preceding fiscal quarter of the Borrowers.
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Average Daily Excess Availability means, for any period, the average daily Excess Availability for such period.
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Average Daily Excess Availability means the average daily Excess Availability for, as applicable, either (a) the immediately preceding fiscal quarter, (b) the immediately preceding Fiscal Month, or (c) each Fiscal Month during any projected twelve (12) Fiscal Months.
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Average Daily Excess Availability means for any fiscal quarter, an amount equal to the sum of Excess Availability for each day of such fiscal quarter divided by the actual number of days in such fiscal quarter, as determined by the Administrative Agent, which determination shall be conclusive absent manifest error.
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