Global Availability definition

Global Availability means, at any time, the sum (without duplication) of (1) the aggregate amount of cash (or cash equivalents reasonably satisfactory to the Administrative Agent) on the balance sheet of Metaldyne and any of its Subsidiaries at such time net of any outstanding checks or instruments, to the extent such cash (or cash equivalents reasonably satisfactory to the Administrative Agent) can be wire transferred within one Business Day (or two Business Days if such transfer originates from any country whose location relative to the international date line is such that the local calendar date of any day in such country is one day later than the local calendar date of a day in the United States of America) into a deposit account of Metaldyne located in the United States, and (2) Metaldyne’s and its Subsidiaries’ (other than MRFC) aggregate borrowing or other drawing availability at such time with respect to (i) the Credit Agreement, to the extent that funds can be drawn thereunder and wired within one Business Day into a deposit account of Metaldyne located in the United States, (ii) any credit facility provided to Subsidiaries of Metaldyne located outside of the United States, to the extent that funds can be drawn thereunder and wired within one Business Day (or two Business Days if such transfer originates from any country whose location relative to the international date line is such that the local calendar date of any day in such country is one day later than the local calendar date of the same day in the United States of America) into a deposit account of Metaldyne located in the United States (assumed to be $4,000,000 for purposes of this definition), (iii) any factoring facility provided to Subsidiaries of Metaldyne located outside of the United States, to the extent that funds can be drawn thereunder and wired within one Business Day (or two Business Days if such transfer originates from any country whose location relative to the international date line is such that the local calendar date of any day in such country is one day later than the local calendar date of the same day in the United States of America) into a deposit account of Metaldyne located in the United States, and (iv) the Purchase Agreement.
Sample 1Sample 2
Global Availability means, at any time, the sum of (1) cash (or Cash Equivalents, as such term is defined in the Credit Agreement) on the balance sheet of the Parent and any of its Subsidiaries at such time net of any outstanding checks or instruments, to the extent such cash (or Cash Equivalents, as such term is defined in the Credit Agreement) can be wire transferred within one Business Day into a deposit account of Parent located in the United States, and (2) the Parent's and its Subsidiaries' aggregate borrowing or other drawing availability at such time with respect to (i) the Credit Agreement, to the extent that funds can be drawn thereunder and wired within one Business Day into a deposit account of Parent located in the United States, (ii) any other credit facility provided to Subsidiaries of the Parent located outside of the United States, to the extent that funds can be drawn thereunder and wired within one Business Day into a deposit account of Parent located in the United States, and (iii) the Receivables Purchase Agreement and this Agreement.
Sample 1
Global Availability means, on any date, the sum of (i) Availability under the Agreement on such date plus (ii) unused borrowing availability under the UK Credit Facility on such date.
Sample 1

Examples of Global 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 Global 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”).

  • All information (including calculation of U.S. Availability and Global Availability) in a U.S. Borrowing Base Report shall be certified by U.S. Borrowers.

  • All information (including calculation of Global Availability) in a Borrowing Base Report shall be certified by Borrowers.

  • All information (including calculation of Canadian Availability and Global Availability) in a Canadian Borrowing Base Report shall be certified by Canadian Borrowers.

  • Global Availability: the sum of the Dutch Availability and U.S. Availability.

  • Covenant Trigger Period: the period (a) commencing on any day that Global Availability is less than the greater of $8,000,00010,000,000 or 10% of the Global Borrowing Base and (b) continuing until, during each of the preceding 30 consecutive days, Global Availability exceeded the greater of $8,000,00010,000,000 or 10% of the Global Borrowing Base, in each case measured at the close of business on each such day.

  • Examination Trigger Period: at any time during any calendar year, if Global Availability is less than the greater of $15,000,00018,000,000 or 15% of the Global Borrowing Base.

  • Trigger Period: the period (a) commencing on any day that (i) an Event of Default occurs, or (ii) Global Availability is less than the greater of (x) $20,000,00030,000,000, and (y) 12.5% of the Global Borrowing Base; and (b) continuing until, during each of the preceding 60 consecutive days, no Event of Default has existed and Global Availability has been more than the greater of (x) $20,000,00030,000,000 and (y) 12.5% of the Global Borrowing Base.

  • 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.

  • Keynote – Will be used to test Global Availability, and Load Testing • Lab testing – Use of licensed and custom traffic generation software will be used to test the load of the designed solution Edge Computing Network Service and License Agreement [*] Confidential Treatment Requested Terms of Acceptance are set forth in Section 2 of the Agreement.


More Definitions of Global Availability

Global Availability means, at any time, an amount equal to (a) the lesser of the Global Commitment and the Global Borrowing Base, in each case, as in effect at such time minus (b) Combined Credit Exposure as in effect at such time.
Sample 1

Related to Global Availability

  • 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 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.

  • System Availability means, with respect to any particular calendar month, the ratio obtained by subtracting Unscheduled Downtime during such month from the Total Monthly Time, and thereafter dividing the difference so obtained by the Total Monthly Time. Represented algebraically, System Availability for any particular calendar month is determined as follows:

  • Availability Block means $15,000,000.

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

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

  • 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).

  • Service Availability The total number of minutes in a calendar quarter that the Tyler Software is capable of receiving, processing, and responding to requests, excluding maintenance windows, Client Error Incidents and Force Majeure.

  • 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.

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

  • 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.

  • Network Availability means the capability of the equipment to resume functions after a remotely initiated trigger has been detected by a network port;

  • 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.

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • 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.

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

  • 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.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • Availability Reserve means without duplication, (a) the Rent and Charges Reserve; (b) the Hedge Product Reserve, (c) the Banking Services Reserve; provided that reserves of the type described in this clause (c) shall be instituted only after consultation with the Lead Borrower; (d) the Priority Payable Reserve; (e) the GST, HST Tax Reserve; (f) the Royalty Reserve; and (g) such additional reserves not otherwise addressed in clauses (a) through (f) above, in such amounts and with respect to such matters, as the Administrative Agent in its Permitted Discretion may elect to establish or modify from time to time. Notwithstanding anything to the contrary in this Agreement, (i) such Availability Reserves shall not be established or changed except upon not less than five (5) Business Days’ (or such shorter period as may be agreed by the Lead Borrower) prior written notice to the Lead Borrower, which notice shall include a reasonably detailed description of such applicable Availability Reserve being established (during which period (a) the Administrative Agent shall, if requested, discuss any such Availability Reserve or change with the Lead Borrower and (b) the Lead Borrower may take such action as may be required so that the event, condition or matter that is the basis for such Availability Reserve or change thereto no longer exists or exists in a manner that would result in the establishment of a lower Availability Reserve or result in a lesser change thereto, in a manner and to the extent reasonably satisfactory to the Administrative Agent), (ii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall be limited to such Availability Reserve or changes as the Administrative Agent determines in its Permitted Discretion to be necessary (a) to reflect items that could reasonably be expected to adversely affect the value of the applicable Eligible Accounts or Eligible Inventory or (b) to reflect items that could reasonably be expected to adversely affect the enforceability or priority of the Administrative Agent’s Liens on the applicable Collateral, and (iii) the amount of any Availability Reserve established by the Administrative Agent, and any change in the amount of any Availability Reserve, shall have a reasonable relationship to the event, condition or other matter that is the basis for such Availability Reserve, criteria, rate or such change; provided that (x) no Availability Reserves may be established after the Closing Date based on circumstances, contingencies, events, conditions or matters known to the Administrative Agent as of the Closing Date for which no Availability Reserve was imposed on the Closing Date or criteria included in the definitions of Eligible Accounts or Eligible Inventory, in each case, as in effect on the Closing Date, unless such events, conditions or matters have changed in any material adverse respect since the Closing Date, (y) in no event shall any Availability Reserve with respect to any component of the Borrowing Base duplicate any Availability Reserve or adjustment already accounted for in determining eligibility criteria (including collection and/or advance rates) and (z) no Availability Reserve shall be imposed on the first 5% of dilution of Accounts and thereafter no dilution Availability Reserve shall exceed 1% for each incremental whole percentage in dilution over 5% (it being agreed that partial percentage point reserves are permitted (e.g., a reserve for 0.1 percentage points where dilution is 5.1%). Notwithstanding clause (i) of the preceding sentence, changes to the Availability Reserves solely for purposes of correcting mathematical or clerical errors (and such other changes as are otherwise agreed to by the Lead Borrower) shall only be subject to a notice period of one (1) Business Day, it being understood that no Default or Event of Default shall be deemed to result therefrom, if applicable, for a period of five (5) Business Days.

  • Average Daily Availability means, as of any date of determination, the average daily Availability for the immediately preceding Fiscal Quarter.

  • Availability Reserves means, without duplication of any other Reserves or items that are otherwise addressed or excluded through eligibility criteria, such reserves as the Lender from time to time reasonably determines as being appropriate (a) to reflect the impediments to the Lender’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Lender determines will need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which adversely affect any component of the Borrowing Base, or the assets, business, financial performance or financial condition of any Loan Party, or (d) to reflect that a Default or an Event of Default then exists. Without limiting the generality of the foregoing, Availability Reserves may include, but are not limited to, as the Lender reasonably determines, reserves based on: (i) rent; (ii) customs duties, and other costs to release Inventory which is being imported into the United States; (iii) outstanding Taxes and other governmental charges, including, without limitation, ad valorem, real estate, personal property, sales, claims of the PBGC and other Taxes which may have priority over the interests of the Lender in the Collateral; (iv) salaries, wages and benefits due to employees of the Borrower, (v) Customer Credit Liabilities; (vi) customer deposits; (viii) reserves for reasonably anticipated changes in the Appraised Value of Eligible Inventory between appraisals; (viii) warehousemen’s or bailee’s charges and other Permitted Encumbrances which may have priority over the interests of the Lender in the Collateral; (ix) amounts due to vendors on account of consigned goods, if any (x) Cash Management Reserves, (xi) Bank Product Reserves, and (xii) royalties payable in respect of licensed merchandise.

  • 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.