Excess Facility Availability definition

Excess Facility Availability means, as of any date of determination thereof by the Administrative Agent, (x) the lesser of (1) the Borrowing Base and (2) the aggregate Revolving Credit Commitments, minus (y) the aggregate Revolving Credit Exposure.
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Excess Facility Availability as of any date of determination thereof by the Administrative Agent, (x) the Line Cap minus (y) the Aggregate Outstanding Revolving Credit.
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Excess Facility Availability as of any date of determination thereof by the Administrative Agent, (x) the lesser of (1) the Tranche A Borrowing Base plus the Tranche A-1 Borrowing Base and (2) the aggregate Commitment hereunder minus (y) the Aggregate Outstanding Revolving Credit.
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Examples of Excess Facility Availability in a sentence

  • On the 25th day of each calendar month, a Borrowing Base Certificate showing the Borrowing Base and the calculation of Excess Facility Availability in each case as of the close of business on the last day of the immediately preceding calendar month, each such Borrowing Base Certificate to be certified as complete and correct in all material respects on behalf of the Parent Borrower by a Financial Officer of the Parent Borrower (each a “Monthly Borrowing Base Certificate”).

  • The Administrative Agent shall have received a Borrowing Base Certificate in the form contemplated by Section 7.2(f), or such other form as may be reasonably acceptable to the Administrative Agent, setting forth, after giving effect to the Borrowings hereunder on the Closing Date, the Tranche A Borrowing Base, Tranche A-1 Borrowing Base, Excess Facility Availability and Excess Global Availability.

  • The Administrative Agent shall have received a Borrowing Base Certificate calculated as of the end of the most recent fiscal month in the form contemplated by Section 7.2(f) of the Credit Agreement, or such other form as may be reasonably acceptable to the Administrative Agent, setting forth, after giving effect to the Borrowings hereunder on the Closing Date, of the Tranche A Borrowing Base, Tranche A-1 Borrowing Base, Excess Facility Availability and Excess Global Availability.