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.
Excess Availability means, at any time, an amount equal to (a) the lesser of (i) the Maximum Credit and (ii) the Borrowing Base then in effect minus (b) the Total Utilization of 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 Parent and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Parent and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.
Examples of Excess Availability in a sentence
In the event that Excess Availability is ever less than zero, Borrowers shall pay to Agent immediately and without demand or notice of any kind required, the amount by which Borrowers’ indebtedness hereunder exceeds the lesser of the Borrowing Base and the Maximum Commitment Amount then applicable, together with all accrued interest on the amount so paid and any fees and costs incurred in connection therewith.
More Definitions of Excess Availability
Excess Availability means, as of any date of determination, the excess, if any, of (a) the Loan Cap, over (b) the outstanding Credit Extensions.
Excess Availability means, as of any date of determination thereof by the Administrative Agent, the result, if a positive number, of:
Excess Availability means, at any time, (a) the Maximum Credit at such time minus (b) the aggregate Revolving Credit Outstandings at such time.
Excess Availability means, as of any date of determination, the amount by which (a) Availability at such time exceeds (b) the Aggregate Exposure at such time.
Excess Availability means, as of any time the same is to be determined, the amount (if any) by which (a) the lesser of the Borrowing Base as then determined and computed or the Revolving Credit Commitment as then in effect exceeds (b) the aggregate principal amount of Revolving Loans, Swing Loans and L/C Obligations then outstanding.
Excess Availability means, as of any date of determination, the amount equal to Availability.
Excess Availability means, as of any date of determination thereof by the Agent, the result, if a positive number, of: