Excess Revolving Credit Availability definition

Excess Revolving Credit Availability at any time, the amount equal to (a) the Total Revolving Commitments at such time minus (b) the Total Revolving Extensions of Credit at such time.
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Excess Revolving Credit Availability means, as of any date of determination, (a) the average “Excess Availability” (as defined in the ABL Facility) for the fifteen (15) day period ending on the date of determination or (b) if the ABL Facility shall no longer be in effect or the definition of “Excess Availability” is no longer defined in the ABL Facility, (i) the lesser of (1) the revolving commitments of all the lenders party to any revolving credit agreement replacing or refinancing the ABL Facility and (2) if applicable, the borrowing base on the date of determination, provided such Indebtedness is permitted to be incurred under the Senior Debt Documents, less (ii) the average total utilization of such revolving credit commitments for the fifteen (15) day period ending on the date of determination (whether from loans, the issuance of any letters of credit or any other extensions of credit thereunder), less (iii) the aggregate amount of all of the outstanding and unpaid trade payables and other obligations of the Company or any of its Restricted Subsidiaries that are not paid within 60 days past the due date according to their original terms of sale, in each case as of the date of determination, less (iv) the amount of checks issued by the Company or any of its Restricted Subsidiaries to pay trade payables and other obligations which are not paid within 60 days past the due date according to their original terms of sale, in each case as of such date of determination, but which checks either have not yet been sent or are subject to other arrangements which are expected to delay the prompt presentation of such checks for payment.
Sample 1
Excess Revolving Credit Availability as of any date of determination, the amount by which (a) the lesser of (i) 100% of the Borrowing Base as of such date and (ii) the Revolving Credit Commitments as of such date exceeds (b) the Revolving Credit Exposure as of such date.
Sample 1

Examples of Excess Revolving Credit Availability in a sentence

  • All Agent Advances and any Mandatory Borrowing resulting therefrom shall be allocated to (and deemed to constitute a Loan under) (A) to the extent Excess Revolving Credit Availability is greater than zero, the Revolving Credit Facility and (B) to the extent Excess Revolving Credit Availability is less than or equal to zero, the LILO Credit Facility.

  • For the avoidance of doubt, the Borrower may only request Borrowings with respect to the LILO Borrowing Base when Excess Revolving Credit Availability is zero.


More Definitions of Excess Revolving Credit Availability

Excess Revolving Credit Availability means (i) the average “Excess Availability” as defined in the Revolving Credit Agreement for the fifteen (15) day period ending on the date of determination or (ii) if the Revolving Credit Agreement shall no longer be in effect or the term “Excess Availability” is no longer defined therein, (a) the lesser of (1) the revolving commitments of all of the lenders party to any revolving credit agreement replacing the Revolving Credit Agreement and (2) if applicable, the borrowing base on the date of determination less (b) the average total utilization of such revolving credit commitments for the fifteen (15) day period ending on the date of determination (whether from loans, the issuance of any letters of credit or any other extensions of credit thereunder) less (c) in the Administrative Agent’s reasonable credit judgment, the aggregate amount of all the outstanding and unpaid trade payables and other obligations of NewPageHoldCo or any of its Subsidiaries which are not paid within 60 days past the due date according to their original terms of sale, in each case as of such date of determination less (d) in the Administrative Agent’s reasonable credit judgment, the amount of checks issued by NewPageHoldCo or any of its Subsidiaries to pay trade payables and other obligations which are not paid within 60 days past the due date according to their original terms of sale, in each case as of such date of determination, but which checks either have not yet been sent or are subject to other arrangements which are expected to delay the prompt presentation of such checks for payment.
Sample 1
Excess Revolving Credit Availability at any time, the amount, determined by the Designated Agents at such time, equal to the lesser of (a) the Borrowing Base minus the Total Revolving Extensions of Credit and (b) the Total Revolving Credit Commitments minus the Total Revolving Extensions of Credit.
Sample 1
Excess Revolving Credit Availability means at any time the amount, as determined by Agent, calculated at such time, equal to: (a) the Revolving Credit Availability, MINUS (b) the sum of:(i) the amount of all then outstanding and unpaid Obligations arising pursuant to the then outstanding Loans and Tranche A Letter of Credit Accommodations plus (ii) the aggregate amount of (A) all then outstanding and unpaid trade payables of Borrower which are outstanding and unpaid more than sixty (60) days past due as of such time and (B) the book overdraft of Borrower.
Sample 1

Related to Excess Revolving Credit Availability

  • Revolving Credit Availability means, at any particular time, the amount by which the Maximum Revolving Credit Amount at such time exceeds the Revolving Credit Obligations at such time.

  • 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.

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

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

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

  • Unused Revolving Credit Commitment of any Lender, at any time, means the remainder of the Revolving Credit Commitment of such Lender at such time, if any, less the sum of (a) the aggregate Outstanding Amount of Revolving Loans made by such Lender, (b) such Lender’s LC Exposure at such time and (c) except for purposes of Section 2.12(a), such Lender’s Applicable Percentage of the aggregate Outstanding Amount of Swingline Loans.

  • Unused Revolving Credit Commitments means, at any time, the difference between the Revolving Credit Commitments then in effect and the aggregate outstanding principal amount of Revolving Loans and L/C Obligations.

  • Aggregate Revolving Credit Commitment means the aggregate of the Revolving Credit Commitments of all the Revolving Lenders, as reduced or increased from time to time pursuant to the terms hereof. The Aggregate Revolving Credit Commitment as of the Tranche B-1 Funding Date is $150,000,000.

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Aggregate Revolving Credit Commitments means the Revolving Credit Commitments of all the Lenders.

  • Maximum Revolving Credit Amount means, at any particular time, the Revolving Credit Commitments at such time.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • U.S. Revolving Credit Commitment shall have the meaning assigned to such term in Section 2.1(c).

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • 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.

  • Applicable Revolving Credit Percentage means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time.

  • Aggregate Revolving Credit Outstandings shall have the meaning provided in Section 5.2(b).

  • Total Revolving Credit Commitment means the sum of the Revolving Credit Commitments of all the Lenders.

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • Aggregate Revolving Committed Amount has the meaning provided in Section 2.01(a).

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Total Revolving Credit Exposure means, as to any Revolving Lender at any time, the unused Commitments and Revolving Exposure of such Revolving Lender at such time.

  • Extended Revolving Credit Commitments shall have the meaning provided in Section 2.14(g)(ii).

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).