Gross Availability definition

Gross Availability means, as of any date of determination, (a) the sum of (i) the U.S. Borrowing Base as of such date, plus (ii) the Canadian Borrowing Base as of such date, minus (b) the Aggregate Credit Exposure as of such date.
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Gross Availability. The result of the following in the aggregate with respect to all Borrowers:
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Gross Availability is at any time (i) the product of the outstanding amount of Eligible Accounts, multiplied by the Eligible Accounts Percentage set forth in Section 10.1(b), plus: (ii) the product(s) obtained by multiplying the applicable Eligible Inventory Percentage(s), if any, set forth in Section 10.1(b) by the values (based on the lower of cost, market or appraised value) of Eligible Inventory, but the amount so added shall not exceed any sublimits set forth in Section 10.1(c).
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Examples of Gross Availability in a sentence

  • The average Gross Availability for each one month period shall not be less than the sum of (a) $5,000,000, plus (b) the Special Reserve, tested on the last day of each calendar month.

  • If the amount outstanding is equal to or greater than the Gross Availability, Availability is 0.

  • Lender shall have a continuing right to reduce Gross Availability by implementing reserves ("RESERVES"), and to increase and decrease such Reserves, if and to the extent that, in Lender's sole judgment reasonably exercised, such Reserves are necessary to protect Lender against any state of facts which does, or would, with notice or passage of time or both, constitute an Event of Default or have an adverse effect on any Collateral.

  • In addition, if following any reduction in the Total Revolving Credit Commitment or at any other time the Domestic Revolving Credit Exposure plus the Canadian Excess Amount shall exceed the Domestic Gross Availability, the Borrower shall first, repay Revolving Loans in an aggregate amount equal to such excess, and second, provide cash collateral for the Total LC Exposure as specified in subsection 2.4(h) in an aggregate amount equal to 105% of such excess.

  • The Gross Availability Payment (GAP) is indexed annually on 1 January according to the indexation formula included in Section 1.2 (Indexing the Gross Availability Payment) of Schedule 2 (Payment Mechanism).


More Definitions of Gross Availability

Gross Availability shall be calculated at any time as (i) the product obtained by multiplying the outstanding amount of Eligible Accounts, net of all taxes, discounts, allowances and credits given or claimed, by the Eligible Accounts Percentage set fort h in Section 10.1(b), plus: (ii) the product(s) obtained by multiplying the applicable Eligible Inventory Percentage(s), if any, set forth in Section 10.1 (b) by the values (as determined by Lender based on the lower of cost or market) of Eligible Inventory, but the amount so added shall not exceed any sublimits set forth in Section 10.1(c),
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Gross Availability means, at any date of its determination, an amount equal to the maximum amount of Unsecured Indebtedness that would result in compliance with the covenants set forth in Sections 8.20(e) and (f) on a pro forma basis.
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Gross Availability means, as of any date of determination, the sum of (a) the Borrowing Base plus (b) any Reserves deducted in computing the Borrowing Base.
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Gross Availability means, as of any date of determination, an amount equal to the Borrowing Base without giving effect to the subtraction of any Reserves.
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Gross Availability is at any time (i) the product of the outstanding amount of Eligible Accounts, multiplied by the Eligible Accounts Percentage set forth in Section 10.1(B), plus: (ii) the product obtained by multiplying the Eligible Inventory Percentage set forth in Section 10.1(B) by the values (as determined by Lender based on the lower of cost or market) of Eligible Inventory, but the amount so added shall not exceed any sublimits set forth in Section 10.1(C).
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Gross Availability shall be calculated at any time as (i) the product obtained by multiplying the outstanding amount of Eligible Accounts by the Eligible Accounts Percentage set forth in Section 10.1(b), ("Accounts Availability"), minus (ii) Reserves, if any.
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Gross Availability shall be calculated at any time for each Borrower as (i) the product obtained by multiplying the outstanding amount of Eligible Accounts, as defined in Section 2.1(d) below, for such Borrower, net of all taxes, discounts, allowances and credits given or claimed, by the Eligible Accounts Percentage set forth in Section 10.1(b)(i), plus: (ii) the product(s) obtained by multiplying the applicable Eligible Inventory Percentage(s), if any, for such Borrower set forth in Section 10.1(b)(ii) by the values (as determined by Lender based on the lower of cost or market) of Eligible Inventory for such Borrower, but the amount so added shall not exceed in the aggregate (taking into account all Borrowers) any sublimits set forth in Section 10.1(c),
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