Excess Availability Percentage definition

Excess Availability Percentage means the percentage obtained by dividing Excess Availability by the Loan Cap.

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.

Excess Availability Percentage the percentage obtained by dividing the Available Commitment by the lesser of (a) the Total Commitments and (b) the Borrowing Base.

Examples of Excess Availability Percentage in a sentence

• The LIBOR loans bear interest at LIBOR plus an applicable margin of (a) 2.25% if the Average Daily Excess Availability Percentage (as defined in the ABL Facility Credit Agreement) exceeds 25% or (b) 2.50% if the Average Daily Excess Availability Percentage is equal to 25% or less.

• The Borrower will not permit the Excess Availability Percentage to be less than 10% at any time through and including June 30, 2013.

• The Borrower will not permit the Excess Availability Percentage to be less than 10% at any time through and including June 30, 2014.

• A new paragraph (d) is added to Section 5.05 of the Credit Agreement to read as follows:(d) Excess Availability Percentage.

• Section 5.05(d) of the Credit Agreement is amended to read as follows:(d) Excess Availability Percentage.

More Definitions of Excess Availability Percentage

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, 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, 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 Aggregate 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 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

Excess Availability Percentage means 15%.

Excess Availability Percentage means 10%.