Closing Availability definition

Closing Availability means, at any time, an amount equal to the Borrowing Base, minus the Revolving Exposure of all Lenders.
Sample 1
Closing Availability means, if a Borrowing Base Report was prepared to be effective as of approximately 6:00 p.m. Eastern Time on the day prior to the Closing Date, the amount that would be reported thereon as “Undrawn Availability on the MidCap Line (after Borrowing Request).”
Sample 1

Examples of Closing Availability in a sentence

  • Prior to the DTC Closing Availability, the aggregate initial principal amount of the Restricted Certificated Note may from time to time be increased or decreased by the issuance of replacement Restricted Certificated Notes, in connection with an exchange or transfer of a Restricted Certificated Note, as provided in Annex B hereto.

  • Upon the occurrence of the DTC Closing Availability, all Restricted Certificated Notes shall immediately without any [notice or other] action on the part of any Noteholder be exchanged or transferred for Series 2005-1 Notes in the form of one or more Restricted Global Notes or Regulation S Global Notes in accordance with Annex B hereto.

  • Upon the occurrence of the DTC Closing Availability, all Restricted Certificated Notes shall immediately without any [notice or other] action on the part of any Noteholder be exchanged or transferred for Series 2005-2 Notes in the form of one or more Restricted Global Notes or Regulation S Global Notes in accordance with Annex B hereto.

  • Agent shall have determined that after giving effect to the Transactions (including, without limitation, the initial Loans, Letters of Credit and LC Guaranties contemplated hereby), and the payment of all closing costs incurred in connection with the Transactions, Closing Availability shall not be less than $1,300,000.

  • Prior to the DTC Closing Availability, each Class of the Series 2005-1 Notes offered and sold in reliance upon Regulation S may be issued in the form of one or more definitive Notes in fully registered form without interest coupons, substantially in the form set forth in Exhibits A-1-2-C, A-2-2-C, A-3-2-C, A-4-2-C and A-5-2-C, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Series Supplement.

  • HVF shall take all actions that are required, necessary or desirable to cause the DTC Closing Availability to occur as soon as practicable unless otherwise directed by the Series 2005-1 Noteholders.

  • Upon the occurrence of the DTC Closing Availability, the Restricted Certificated Notes shall immediately without any [notice or other] action on the part of any Noteholder, be transferred or exchanged, in whole and not in part, for Restricted Global Notes[, upon surrender of the Restricted Certificated Notes to be exchanged at any office or agency of the Registrar maintained for such purpose].

  • Prior to the DTC Closing Availability, each Class of the Series 2005-2 Notes offered and sold in reliance upon Regulation S may be issued in the form of one or more definitive Notes in fully registered form without interest coupons, substantially in the form set forth in Exhibits X-0-0-X, X-0-0-X, X-0-0-X, X-0-0-X, X-0-0-X and A-6-2-C, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Series Supplement.

  • Upon making the initial Loans (including such Loans made to finance the fees, costs, and expenses then payable under this Agreement) and issuing any Letters of Credit on the date of making the initial Loans, Closing Availability shall not be less than $2,000,000.

  • Prior to the DTC Closing Availability, each Class of the Series 2005-2 Notes offered and sold in reliance upon Regulation S may be issued in the form of one or more definitive Notes in fully registered form without interest coupons, substantially in the form set forth in Exhibits A-1-2-C, A-2-2-C, A-3-2-C, A-4-2-C, A-5-2-C and A-6-2-C, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by this Series Supplement.

Related to Closing Availability

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

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

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

  • System Availability means, with respect to any particular calendar month, the ratio obtained by subtracting Unscheduled Downtime during such month from the Total Monthly Time, and thereafter dividing the difference so obtained by the Total Monthly Time. Represented algebraically, System Availability for any particular calendar month is determined as follows:

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Availability Block means $15,000,000.

  • 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.

  • Network Availability means the capability of the equipment to resume functions after a remotely initiated trigger has been detected by a network port;

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Closing Cash means the aggregate amount of all Cash of the Company as of the close of business on the day immediately preceding the Closing Date.

  • Service Availability The total number of minutes in a calendar quarter that the Tyler Software is capable of receiving, processing, and responding to requests, excluding maintenance windows, Client Error Incidents and Force Majeure.

  • Availability Reserve means without duplication, (a) the Rent and Charges Reserve; (b) the Hedge Product Reserve, (c) the Banking Services Reserve; provided that reserves of the type described in this clause (c) shall be instituted only after consultation with the Lead Borrower; (d) the Priority Payable Reserve; (e) the GST, HST Tax Reserve; (f) the Royalty Reserve; and (g) such additional reserves not otherwise addressed in clauses (a) through (f) above, in such amounts and with respect to such matters, as the Administrative Agent in its Permitted Discretion may elect to establish or modify from time to time. Notwithstanding anything to the contrary in this Agreement, (i) such Availability Reserves shall not be established or changed except upon not less than five (5) Business Days’ (or such shorter period as may be agreed by the Lead Borrower) prior written notice to the Lead Borrower, which notice shall include a reasonably detailed description of such applicable Availability Reserve being established (during which period (a) the Administrative Agent shall, if requested, discuss any such Availability Reserve or change with the Lead Borrower and (b) the Lead Borrower may take such action as may be required so that the event, condition or matter that is the basis for such Availability Reserve or change thereto no longer exists or exists in a manner that would result in the establishment of a lower Availability Reserve or result in a lesser change thereto, in a manner and to the extent reasonably satisfactory to the Administrative Agent), (ii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall be limited to such Availability Reserve or changes as the Administrative Agent determines in its Permitted Discretion to be necessary (a) to reflect items that could reasonably be expected to adversely affect the value of the applicable Eligible Accounts or Eligible Inventory or (b) to reflect items that could reasonably be expected to adversely affect the enforceability or priority of the Administrative Agent’s Liens on the applicable Collateral, and (iii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall have a reasonable relationship to the event, condition or other matter that is the basis for such Availability Reserve, criteria, rate or such change; provided that (x) no Availability Reserves may be established after the Closing Date based on circumstances, contingencies, events, conditions or matters known to the Administrative Agent as of the Closing Date for which no Availability Reserve was imposed on the Closing Date or criteria included in the definitions of Eligible Accounts or Eligible Inventory, in each case, as in effect on the Closing Date, unless such events, conditions or matters have changed in any material adverse respect since the Closing Date, (y) in no event shall any Availability Reserve with respect to any component of the Borrowing Base duplicate any Availability Reserve or adjustment already accounted for in determining eligibility criteria (including collection and/or advance rates) and (z) no Availability Reserve shall be imposed on the first 5% of dilution of Accounts and thereafter no dilution Availability Reserve shall exceed 1% for each incremental whole percentage in dilution over 5% (it being agreed that partial percentage point reserves are permitted (e.g., a reserve for 0.1 percentage points where dilution is 5.1%). Notwithstanding clause (i) of the preceding sentence, changes to the Availability Reserves solely for purposes of correcting mathematical or clerical errors (and such other changes as are otherwise agreed to by the Lead Borrower) shall only be subject to a notice period of one (1) Business Day, it being understood that no Default or Event of Default shall be deemed to result therefrom, if applicable, for a period of five (5) Business Days.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Closing Average Share Value means the average, over the trading days in the Closing Average Period, of the closing price of the company’s stock multiplied by the Accumulated Shares for each trading day during the Closing Average Period.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess 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.

  • Canadian Availability means, as of any date of determination, the amount (if any) by which (a) Canadian Available Credit, exceeds (b) the sum of the aggregate Dollar Equivalent of (i) Revolver Credit Advances made to the Canadian Borrowers plus (ii) the Canadian Borrowers’ Letter of Credit Obligations (other than the Canadian Borrowers’ Letter of Credit Obligations cash collateralized in accordance with the terms of the Loan Documents).

  • Estimated Closing Cash has the meaning set forth in Section 2.4(a).

  • Final Closing Cash shall have the meaning set forth in Section 2.11(g).