Compliance Excess Availability definition

Compliance Excess Availability means the amount, as determined by Agent, calculated at any date, equal to (a) the lesser of: (i) the Borrowing Base and (ii) the Revolving Loan Limit, minus (b) the sum of all then outstanding and unpaid Obligations in respect of the Revolving Loans and outstanding Letter of Credit Obligations.
Sample 1
Compliance Excess Availability means the amount, as determined by Agent, calculated at any date, equal to: (a) the lesser of: (i) the Borrowing Base (calculated, for this purpose, without giving effect to the Total LC Reserve Amount) and (ii) the Revolving Loan Limit, minus (b) the sum of: (i) the amount of all then outstanding and unpaid Obligations (but not including for this purpose the then outstanding Letter of Credit Accommodations or the outstanding balance of the Existing Term Loan), which, for purposes of clarification, may be a credit balance arising from the overpayment of the Obligations, plus (ii) the Total LC Reserve Amount.
Sample 1Sample 2
Compliance Excess Availability means the sum of the U.S. Compliance Excess Availability and the Canadian Compliance Excess Availability.
Sample 1Sample 2

Examples of Compliance Excess Availability in a sentence

  • Revolving Loan outstanding If Cash Balance exceeds $50M and the Revolving Loan outstanding is less than $10M, then the Compliance Excess Availability Limit is $10M pursuant to Section 1.13 Compliance Excess Availability Limit Compliance Excess Availability Variance vs.


More Definitions of Compliance Excess Availability

Compliance Excess Availability means the amount, as determined by Lender, as of any time, equal to: (a) the Borrowing Base, plus (b) the lesser of (i) Five Million Dollars ($5,000,000) and (ii) the result of (A) Borrowers' unrestricted cash and/or Cash Equivalents that are on deposit in a securities or deposit account subject to a control agreement, in form and substance satisfactory to Lender, minus (B) the book overdraft of Borrowers, minus (C) the amount of all then outstanding and unpaid Obligations.
Sample 1
Compliance Excess Availability means the sum of U.S. Compliance Excess Availability and Canadian Compliance Excess Availability.
Sample 1
Compliance Excess Availability means the amount, as determined by U.S. Lender, as of any time, equal to: (a) the U.S. Borrowing Base, plus (b) the lesser of (i) Five Million Dollars ($5,000,000) and (ii) the result of (A) U.S. Borrowers' unrestricted cash and/or Cash Equivalents that are on deposit in a securities or deposit account subject to a control agreement, in form and substance satisfactory to U.S. Lender, minus (B) the book overdraft of U.S. Borrowers, minus (C) the amount of all then outstanding and unpaid U.S. Obligations, provided, however, that such definition may be amended from time to time pursuant to the corresponding calculation of "U.S. Compliance Excess Availability" as defined in the U.S. Agreement.
Sample 1

Related to Compliance Excess Availability

  • 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.

  • 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.

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

  • 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.

  • 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.

  • 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.

  • 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:

  • Maximum Availability has the meaning set forth in Section 2.1.1.

  • 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.

  • 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.

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

  • Anticipated State average revenue availability per student means the sum of all anticipated total county revenue availability divided by the average daily membership for the State.

  • Cash Flow Coverage Ratio means, for any period, the ratio of (i) Adjusted Parent Operating Cash Flow for such period to (ii) Corporate Charges for such period.

  • Anticipated total county revenue availability per student means the anticipated total county revenue availability for the county divided by the average daily membership of the county.

  • EBITDA Coverage Ratio defined as EBITDA divided by the aggregate of total interest expense plus the prior period current maturity of long-term debt and the prior period current maturity of subordinated debt.

  • Total Leverage Ratio means, on any date, the ratio of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the Test Period as of such date.

  • Maximum Leverage Ratio shall have the meaning assigned thereto in the Pricing Side Letter.

  • 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.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness of Parent and its Subsidiaries, divided by (b) Unencumbered Asset Value.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

  • Consolidated Coverage Ratio means as of any date of determination, with respect to any Person, the ratio of (x) the aggregate amount of Consolidated EBITDA of such Person for the period of the most recent four consecutive fiscal quarters ending prior to the date of such determination for which financial statements are internally available to (y) Consolidated Interest Expense for such four fiscal quarters; provided, however, that:

  • Average Delinquency Ratio on any Payment Date means the average of the Delinquency Ratios for the preceding three calendar months.

  • Cash Flow Leverage Ratio means as of the last day of any calendar quarter the ratio of the Total Funded Debt as of such day to Adjusted EBITDA for the four calendar quarters then ended.

  • Anticipated total county revenue availability means the sum of the:

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.