Excess Borrowing Availability definition

Excess Borrowing Availability means, at any time, the amount (if any) by which the aggregate amount of the Borrowing Base exceeds the then outstanding Working Capital Obligations.

Excess Borrowing Availability means, for any period, the Borrowing Availability minus the sum of outstanding Borrowings and LC Exposure.

Excess Borrowing Availability means, at any time, the amount by which Borrowing Availability exceeds the outstanding principal amount of the Revolving Credit Loan.

Examples of Excess Borrowing Availability in a sentence

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• Each Syndicated Borrowing under this SECTION 2.01(a) shall be in an aggregate principal amount of (A) for Euro-Dollar Borrowings, $5,000,000 or any larger integral multiple of $1,000,000, and (B) for Base Rate Borrowings, $1,000,000 or any larger integral multiple of $1,000,000 (except that any Revolving Loan Borrowing may be in the aggregate amount of the Excess Borrowing Availability) and shall be made from the several Lenders ratably in proportion to their respective Commitments.

• Borrower will at all times on and after May 15, 2008, have a minimum $3,000,000.00 of Excess Borrowing Availability.

• Commencing April 1, 2011, and at all times thereafter so long as any Senior Subordinated Convertible Notes remains outstanding, Excess Borrowing Availability shall not be less than the principal balance of the Senior Subordinated Convertible Notes.

• In the event that based on the calculation of the Borrowing Base or the Adjusted Borrowing Base by Lender at the time, the establishment of a Reserve at such time will result in there being no Excess Borrowing Availability at such time, Lender shall give Borrower one (1) Business Day’s notice prior to establishing such new Reserves.

More Definitions of Excess Borrowing Availability

Excess Borrowing Availability means the amount, as determined by Lender, calculated at any date, equal to: (a) the lesser of (i) the Adjusted Borrowing Base, or (ii) the Maximum Credit (in each case after giving effect to any Reserves then in effect); minus (b) the sum of: (i) the amount of all then outstanding and unpaid Obligations of Borrower, plus (ii) the amount of all then outstanding Letter of Credit Obligations.

Excess Borrowing Availability means the amount (if any) by which, on any date of determination, (A) the Maximum Revolving Loan Balance exceeds (B) the higher of (1) the sum of all Revolving Loans and LC Exposure outstanding on the determination date, or (2) the daily average amount of outstanding Revolving Loans and LC Exposure over the consecutive thirty (30) days period preceding the determination date (or, if less, the number of days following the Closing Date; or, as applicable, for any determination made on the Closing Date, the Closing Date itself).

Excess Borrowing Availability means, at any time the same is to be determined, the lesser of (i) the sum of the unused outstanding Commitments hereunder and the unused outstanding commitments with respect to the Second Lien Subordinated Debt and (ii) the Available Borrowing Base at such time.

Excess Borrowing Availability. The difference (if a positive number) between (i) the Borrowing Base and (ii) the sum of (A) reserves established by Lender, (B) Advances outstanding and being requested as of the date such calculation is made, (C) liabilities of the Obligors delinquent or outstanding past their due date, and (D) expenses owed by Obligors with respect to the transactions described herein.

Excess Borrowing Availability and "Security Agreement":

Excess Borrowing Availability means the amount, as determined by Lender, calculated at any date, equal

Excess Borrowing Availability means at any time the Borrowing Availability less the aggregate amount of Revolving Credit Advances then outstanding.