Excess Revolver Availability definition

Excess Revolver Availability has the meaning set forth in the Schedule.
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Excess Revolver Availability means, as of any date of determination, as to all Borrowers, the lesser of (i) the Maximum Amount and (ii) the sum of (A) the Borrowing Base, and (B) all collected and available funds in the Diversion Account as of such date, in each case less the sum of (x) the aggregate Revolving Loan and the Swing Line Loan then outstanding; provided that a Protective Overadvance in accordance with Section 1.1(a)(iii) may cause the Revolving Loan and the Swing Line Loan to exceed the Borrowing Base by the amount of such permitted Protective Overadvance, (y) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of such Borrower which are outstanding more than sixty (60) days past due as of such time (other than trade payables or other obligations being contested or disputed by such Borrower in good faith), and (z) without duplication, the amount of checks issued by such Borrower to pay trade payables and other obligations which are more than sixty (60) days past due as of such time (other than trade payables or other obligations being contested or disputed by such Borrower in good faith), but not yet sent.
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Excess Revolver Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case LESS the sum of the aggregate Revolver and Swing Line Loan then outstanding.
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Examples of Excess Revolver Availability in a sentence

  • Furthermore, any temporary dip in Excess Revolver Availability below any required minimums in the Credit Agreement shall not constitute an Event of Default so long as it has been cured on or prior to the date hereof.

  • Revolver Pricing Level Average Excess Revolver Availability for Previous Quarter The total amount available under our new Credit F acility is subject to a borrowing base calculation based on various percentages of accounts receivable and inventory.

  • In respect of the waste management charge in recognition of variations in the level of service provided including bin size and/or frequency of service.

  • Xxxxxx Date: December 30, 2016 Date: January 20, 2017 Address for notice: Address for notice: 0000 Xxxxxxxx Xxxx Xxxxx, Xxxxx 000 000 Xxxxxx Xxxxxx Xxxxxx, Xxxxx 00000 Suite 200 Attn: General Counsel Xxx Xxxxxx, XX 00000 Federal Home Loan Bank of Indianapolis Federal Home Loan Bank of New York President: /s/ Xxxxx X.

  • The Loan Parties shall have Excess Revolver Availability of not less than $10,000,000 on the Closing Date.

  • If required by DLL, Borrower shall have Excess Revolver Availability hereunder of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder.

  • Excess Revolver Availability [did / did not] exceed $5,000,000 at all times during the [Fiscal Month][Fiscal Quarter] ended ____________ ___, 20_____.

  • Until the Commitment Termination Date, Borrowers may borrow, repay and reborrow under this Section 1.1(a); provided that the amount of any Revolving Credit Advance to be made at any time shall not exceed Excess Revolver Availability at such time.

  • If required by DLL, Borrower shall have Excess Availability and/or Excess Revolver Availability hereunder of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder.

  • In the case of a Revolving Credit Borrowing for the purpose of financing Consolidated Growth Capital Expenditures, Excess Revolver Availability shall not be less than (i) $3,000,000 at any time through the first Fiscal Quarter of Fiscal Year 2017 and (ii) $5,000,000 at any time thereafter, in each case after giving effect to such Revolving Credit Borrowing.


More Definitions of Excess Revolver Availability

Excess Revolver Availability means, at a particular date, mean an amount equal to (a) the Revolving Credit Borrowing Base Amount minus (b) the sum of (i) the outstanding principal amount of all Revolving Credit Loans plus (ii) all amounts due and owing to Borrower's and its Subsidiaries’ trade creditors which are outstanding beyond normal trade terms (such trade terms not to exceed 30 days) plus (iii) fees and expenses for which Borrower is liable under the Loan Agreement but which have not been paid.
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Excess Revolver Availability means, at a particular date, an amount equal to (a) the Revolving Credit Borrowing Base Amount minus (b) the sum of (i) the outstanding principal amount of all Revolving Credit Loans plus (ii) all amounts due and owing to Borrower's and its Subsidiaries’ trade creditors which are outstanding beyond normal trade terms (such trade terms not to exceed 30 days) plus (iii) fees and expenses for which Borrower is liable under the Loan Agreement but which have not been paid.
Sample 1
Excess Revolver Availability means, as of any date of determination, the amount equal to (a) Borrowers’ Revolver Availability on such date minus (b) the aggregate amount, if any, of all book overdrafts of the Loan Parties in excess of historical practices with respect thereto, in each case, as determined by Administrative Agent in its Permitted Discretion.
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Related to Excess Revolver Availability

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Availability Block means $15,000,000.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Average Revolver Usage means, with respect to any period, the sum of the aggregate amount of Revolver Usage for each day in such period (calculated as of the end of each respective day) divided by the number of days in such period.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Canadian Availability means, as of any date of determination, the amount (if any) by which (a) Canadian Available Credit, exceeds (b) the sum of the aggregate Dollar Equivalent of (i) Revolver Credit Advances made to the Canadian Borrowers plus (ii) the Canadian Borrowers’ Letter of Credit Obligations (other than the Canadian Borrowers’ Letter of Credit Obligations cash collateralized in accordance with the terms of the Loan Documents).

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Maximum Credit means, at any time, the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Average Availability means, at any Adjustment Date, the average daily Availability for the fiscal quarter immediately preceding such Adjustment Date.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Excess Availability means, as of any date of determination, the amount equal to Availability minus the aggregate amount, if any, of all trade payables of Borrower and its Subsidiaries aged in excess of historical levels with respect thereto and all book overdrafts of Borrower and its Subsidiaries in excess of historical practices with respect thereto, in each case as determined by Agent in its Permitted Discretion.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Maximum Revolving Advance Amount means $25,000,000.

  • Revolving Facility Usage means at any time the sum of the outstanding Revolving Credit Loans, the outstanding Swing Loans, and the Letter of Credit Obligations.