Average Undrawn Availability definition

Average Undrawn Availability means an amount equal to (a) the sum of Borrowers’ Undrawn Availability for the prior thirty (30) days, divided by (b) thirty (30).

Average Undrawn Availability means, for any date of determination, the quotient obtained by dividing (a) the sum of Undrawn Availability for each of the prior thirty days by (b) thirty.

Average Undrawn Availability means, for any period of determination, the quotient obtained by dividing (a) the sum of Undrawn Availability for each day during the applicable period ending on the day immediately preceding such date of determination, by (b) the number of days in such period.

Examples of Average Undrawn Availability in a sentence

• In addition, each Borrower will deliver to Agent at such intervals as Agent may require: (i) confirmatory assignment schedules, (ii) copies of Customer’s invoices, (iii) evidence of shipment or delivery, and (iv) such further schedules, documents and/or information regarding the Collateral as Agent may require including trial balances and test verifications, Average Undrawn Availability Reports, and amounts of Priority Payables.

• Cause to be maintained as of the last day of each month, Average Undrawn Availability of not less than $1,750,000.

• In determining whether the Average Undrawn Availability test set forth in this Section 7.5(d) and in Section 7.4(f) has been met, the test will be applied giving consideration to both loans made pursuant to this Section 7.5(d) and investments made pursuant to Section 7.4(f).

• By the twentieth (20th) day after the end of each Fiscal Quarter, the Lead Borrower shall deliver (i) to the Administrative Agent an officer’s certificate setting forth a calculation of the Quarterly Average Undrawn Availability for the calendar quarter most recently ended and the corresponding Applicable Margins and Unused Line Fee Rate, and (ii) updates, if any, to Collateral Questionnaire to reflect all locations of Inventory at the end of the Fiscal Quarter then ended.

• Cause to be maintained as of the last day of each month through and including June 30, 2017, Average Undrawn Availability (without giving effect to the Availability Block) at least equal to $10,000,000.

More Definitions of Average Undrawn Availability

Average Undrawn Availability means, as of any date of determination, the average daily Undrawn Availability for the immediately preceding Fiscal Quarter.

Average Undrawn Availability means, for any date of determination, the quotient obtained by dividing (a) the sum of Undrawn Availability for each day during the 30-day period ending on the day immediately preceding such date of determination by (b) thirty (30).

Average Undrawn Availability means, as of any date of determination, the sum of Undrawn Availability for each of the calendar days in the previous fiscal quarter, divided by the actual number of calendar days in such previous fiscal quarter.

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

Average Undrawn Availability for any period shall mean the quotient of (i) the aggregate Undrawn Availability at the end of each Business Day in such period divided by (ii) the number of Business Days in such period.

Average Undrawn Availability means, as of any date of determination, the sum of Undrawn Availability for the Average Undrawn Availability Period ending on such date, divided by the number of days in such Average Undrawn Availability Period.

Average Undrawn Availability means, for any fiscal month, the sum of Borrower’s Undrawn Availability for each day during such month, divided by the number of days in such month, as evidenced by the monthly Borrowing Base Certificates delivered hereunder.