Excess Borrowing Availability means, at any time, the amount (if any) by which the aggregate amount of the Borrowing Base exceeds the then outstanding Revolving Loans.
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
Notwithstanding the other borrowing terms above, if Excess Borrowing Availability under the $6 million Revolving line of credit remains more than$1,500,000 at all times during the preceding month (currently Reed’s Borrowing Availability is zero) the Interest Rate shall remain unchanged for the asset based lending that includes the Revolving working capital loan, CAPEX capital improvement loan and Term Loan A.
Notwithstanding the other borrowing terms above, if Excess Borrowing Availability under the $6 million Revolving line of credit remains more than$1,500,000 at all times during the preceding month (currently Reed’s Borrowing Availability is zero) the additional interest rate for all loans will be eliminated.
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 at any time the Borrowing Availability less the aggregate amount of Revolving Credit Advances then outstanding.
Excess Borrowing Availability means the excess of Borrower's Borrowing Base over Borrower's Credit Limit (as such terms are defined in the Loan Agreement dated June 7, 1996 between Borrower and the Bank, as amended from time to time).
Excess Borrowing Availability and "Security Agreement":
Excess Borrowing Availability means as of any date of determination, an amount equal to the difference of (a) the Borrowing Base, minus (b) the amount of the Obligations and extensions of credit requested to be made as of such date, minus (c) all sums owing to trade creditors which remain outstanding beyond normal trade terms.
Excess Borrowing Availability means the amount of availability provided by the collateral under the Borrowing Base calculation less the amount outstanding under the Revolving Loan.
Excess Borrowing Availability. (defined as the amount (if any) by which (A) the lesser of (1) the Maximum Amount or (2) the Borrowing Base as then most recently reported to Lender exceeds (B) total outstanding Advances), both before and after the making of any such Upstream Payment, shall be at least One Hundred Thousand Dollars ($100,000);