Excess Revolving Loan Availability definition

Excess Revolving Loan Availability means at any time the difference between Revolving Loan Availability and the Revolving Outstandings at such time.
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Excess Revolving Loan Availability means at any time the difference between the Aggregate Revolving Commitments and the Total Revolving Outstandings at such time.
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Excess Revolving Loan Availability. Borrower shall deliver to the Agent proof, in form and substance satisfactory to the Agent, that (1) Borrower's "Excess Revolving Loan Availability" (hereinafter defined) shall be not less than Five Million and no/100 Dollars ($5,000,000.00) immediately after satisfying (1) all obligations of Borrower to Merchants Wholesale Inc., Robert J. Lansing and Maxxxx X. Xxxxxxx xnder xxx Xxxxx Xxxxxxxe Agreement (other than the deferred portion of the purchase price, including the "Earnout Consideration", as defined in such Asset Purchase Agreement) and all other amounts required to be funded on the proposed date of the initial advance hereunder, and (2) all costs and expenses incurred by Borrower in connection with the initial closing of the transactions referenced in the Agreement. "Excess Revolving Loan Availability" shall mean the amount by which the lesser of the Revolving Loan Limit or the Maximum Revolving Loan for Borrower exceeds the aggregate outstanding principal balance of the Revolving Loan.
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Examples of Excess Revolving Loan Availability in a sentence

  • For purposes of determining Revolving Loan Availability and Excess Revolving Loan Availability for borrowing purposes, the Administrative Agent shall, immediately upon its receipt thereof in the Agent Account, credit any items of payment or proceeds of any Collateral to be applied against the Obligations in accordance with the terms hereof, against the Obligations in such order as is specified in this Agreement, subject to actual collection.

  • Not permit Excess Revolving Loan Availability at any time to be less than $3,500,000.

  • Excess Revolving Loan Availability shall not be less than $8,500,000 on the Closing Date.

  • Excess Revolving Loan Availability plus unrestricted cash shall not be less than $20,000,000 on the Closing Date.

  • Excess Revolving Loan Availability shall not be less than Ten Million Dollars ($10,000,000) on the Closing Date.

  • Not permit Excess Revolving Loan Availability to be less than $2,500,000 at any time on or after the Closing Date.


More Definitions of Excess Revolving Loan Availability

Excess Revolving Loan Availability means the amount by which the lesser of the Revolving Loan Limit or the Maximum Revolving Loan for Borrower exceeds the aggregate outstanding principal balance of the Revolving Loan.
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Related to Excess Revolving Loan Availability

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

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

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • 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.

  • 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.

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • 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.

  • 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.

  • 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.

  • Aggregate Revolving Loan Commitment means the aggregate of the Revolving Loan Commitments of all the Revolving Lenders, as may be reduced or increased from time to time pursuant to the terms hereof. The initial Aggregate Revolving Loan Commitment is Two Hundred Fifty Million and 00/100 Dollars ($250,000,000.00).

  • 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.

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

  • 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.

  • 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.

  • Unutilized Revolving Loan Commitment means, with respect to any Lender at any time, such Lender’s Revolving Loan Commitment at such time less the sum of (i) the aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and (ii) such Lender’s RL Percentage of the Letter of Credit Outstandings at such time.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • 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.

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • 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.

  • 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.

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

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

  • Aggregate Revolving Credit Commitment means the aggregate amount of the Revolving Credit Commitments of the Revolving Credit Lenders at any given time. The Aggregate Revolving Credit Commitment on the Closing Date is $1,250,000,000.

  • 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.

  • Total Unutilized Revolving Loan Commitment means, at any time, an amount equal to the remainder of (x) the Total Revolving Loan Commitment in effect at such time less (y) the sum of (i) the aggregate principal amount of all Revolving Loans and Swingline Loans outstanding at such time plus (ii) the aggregate amount of all Letter of Credit Outstandings at such time.