Excess Availability definition

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.

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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

• At any time that there is sufficient Excess Availability and the conditions precedent set forth in Section 6 have been satisfied, the Agent may request the Revolver Lenders to make a Revolver Loan to repay a Protective Advance.

• Notwithstanding anything herein to the contrary, in connection with any Limited Condition Transaction, the date of determination for the testing of availability under baskets based on the satisfaction of the Payment Condition shall be the relevant LCT Test Date, except for the applicable Excess Availability thresholds set forth in clauses (x)(I) and (II) of the definition of “Payment Condition”, which shall be tested as of the time of the relevant transaction.

• Without limiting the foregoing, each reduction in the Maximum Revolver Facility Amount may not exceed Excess Availability.

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 Total Outstandings.

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 equal to Availability.

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 remainder of (a) the lesser of (i) the Borrowing Base at such time and (ii) the Total Revolving Credit Commitment at such time minus any Specified Reserve, minus (b) the Aggregate Exposure at such time.

Excess Availability means, at any time, (a) the Line Cap at such time minus (b) the Revolving Facility Credit Exposure at such time.