Excess Availability Reserve definition

Excess Availability Reserve has the meaning specified in the Revolving Credit Facility.

Excess Availability Reserve. Availability", "Filene's Availability" or "VC Availability" or of any Definition of any component thereof, such that more credit would be available to a Borrower, based on the same assets, as would have been available to such Borrower immediately prior to such amendment , it being understood, however, that:

Excess Availability Reserve means an amount equal to the lesser of (a) the product of (i) the amount generated by clauses (a) through (e) of the Borrowing Base multiplied by (ii) ten percent (10%) or (b) the product of (i) the Revolving Credit Ceiling then in effect multiplied by (ii) ten percent (10%); provided, however, if the amount generated by clauses (a) through (e) of the Borrowing Base minus the amount set forth in clause (a) above is greater than the Revolving Credit Ceiling then in effect, the Excess Availability Reserve shall be $0.

Examples of Excess Availability Reserve in a sentence

• As set forth in Schedule 2.12, the amount of the Excess Availability Reserve (if any) and the required minimum Excess Availability of Borrowers described in the foregoing clause shall be deducted in the calculation of the Unused Amount.

• The amount of the Excess Availability Reserve will be deducted from the Advance Dollar Limit for purposes of calculating the Unused Commitment Fee.

• Permit the Excess Availability Reserve at any time to be less than the sum of $27,500,000.

• Permit the Excess Availability Reserve at any time to be less than the sum of $35,000,000.

• For the avoidance of doubt, it is understood and agreed that (a) the Excess Availability Reserve (if any) is in addition to the minimum Excess Availability required to be maintained under this Section 8.1 and (b) to facilitate compliance with this Section 8.1, Reserves will include an amount equal to the required Excess Availability hereunder.

More Definitions of Excess Availability Reserve

Excess Availability Reserve. $27,500,000.

Excess Availability Reserve means $0.

Excess Availability Reserve means an amount equal to the lesser of (a) the product of (i) the amount generated by clauses (a) through (e) of the Borrowing Base m ultiplied by (ii) ten percent (10%) or (b) the product of (i) the Revolving Credit Ceiling then in effect m ultiplied by (ii) ten percent (10%); provided, h owever, if the amount generated by clauses (a) through (e) of the Borrowing Base m inus the amount set forth in clause (a) above is greater than the Revolving Credit Ceiling then in effect, the Excess Availability Reserve shall be $0.

Excess Availability Reserve an amount equal to $5,000,000; provided that, on and after the Third Amendment Effective Date and prior to the occurrence of the Ratings Hold Date, the “Excess Availability Reserve” shall be an amount equal to $10,000,000.

Excess Availability Reserve an amount equal to $3,500,000.

Excess Availability Reserve. $35,000,000.

Excess Availability Reserve. $10,000,000.