Excess Availability Percentage definition
Excess Availability Percentage means the percentage obtained by dividing Excess Availability by the Loan Cap.
Excess Availability Percentage means, at any time, the ratio (expressed as a percentage) of (a) average daily Excess Availability during the most recently ended Fiscal Month to (b) an amount equal to the Borrowing Base (as reflected in the Borrowing Base Certificate delivered pursuant to Section 4.1(b) and paragraph (a) of Annex F, at or most recently prior to such time); provided, that in the event that a Borrowing Base Certificate is not timely delivered as required by Section 4.1(b) and paragraph (a) of Annex F, then until the delivery of a Borrowing Base Certificate in a timely manner as so required, the Excess Availability Percentage shall be deemed to be greater than 75%.
Excess Availability Percentage means, as of any date, the ratio, expressed as a percentage, of (a) Excess Availability at such time to (b) the Maximum Borrowing Amount at such time.
Examples of Excess Availability Percentage in a sentence
The Borrower will not permit the Excess Availability Percentage to be less than 10% at any time through and including June 30, 2013.
Adjustments in the Applicable Unused Line Fee Margin will be determined as follows: (i) if the Excess Availability Percentage as of the first day of any calendar month is equal to or more than 75%, the Applicable Unused Line Fee Margin shall be 0.375% per annum, and (ii) if the Excess Availability Percentage as of the first day of any calendar month is less than 75%, the Applicable Unused Line Fee Margin shall be 0.25% per annum.
The Borrower will not permit the Excess Availability Percentage to be less than 10% at any time through and including June 30, 2014.
More Definitions of Excess Availability Percentage
Excess Availability Percentage the percentage obtained by dividing the Available Commitment by the lesser of (a) the Total Commitments and (b) the Borrowing Base.
Excess Availability Percentage means the percentage obtained by dividing Excess Availability by the amount of clause (a).
Excess Availability Percentage means, as of any date of determination thereof by the Administrative Agent, a fraction, the numerator of which is an amount equal to (i) the Borrowing Base, less (ii) the outstanding principal amount of all Advances, and less (iii) the aggregate amount of all Letter of Credit Obligations then outstanding, and the denominator of which is an amount equal to the Borrowing Base.
Excess Availability Percentage means, as of any date of determination thereof by the Administrative Agent, a fraction, the numerator of
Excess Availability Percentage means 10%.
Excess Availability Percentage the percentage obtained by dividing the Available Revolving Commitment by the lesser of (a) the Total Revolving Commitments and (b) the Borrowing Base (provided that Excess Availability Percentage shall be deemed to be zero percent (0%) at any time that a Non-Formula Advance made in accordance with the terms of Section 2.1(a) is outstanding).
Excess Availability Percentage means (a) 20% for each calendar month end other than December 31 and (b) 15% for the calendar month ending December 31.