Maximum Facility Availability definition

Maximum Facility Availability means an amount equal to the lesser of (x) the aggregate amount of the Lenders’ Commitments on such date and (y) the Borrowing Base on such date.

Maximum Facility Availability at any date, an amount equal to the lesser of (a) the Total Revolving Credit Commitments on such date and (b) the Borrowing Base on such date.

Maximum Facility Availability means, at any date, an amount equal to (i) the lesser of (x) the aggregate amount of the Lenders’ Commitments on such date and (y) the Borrowing Base on such date, less (ii) the Availability Block on such date.

Examples of Maximum Facility Availability in a sentence

• Nonetheless, Guyana in full support of net zero by 2020 GAICO and Myer group of companies.

• Each Lender severally agrees, on the terms and conditions set forth in this Agreement, to make loans to the Borrower pursuant to this Section from time to time during the Revolving Credit Period; provided that, immediately after each such loan is made: (i) the sum of the aggregate outstanding principal amount of such Lender’s Loans plus the aggregate amount of such Lender’s LC Exposure shall not exceed its Commitment and (ii) the Total Outstanding Amount shall not exceed the Maximum Facility Availability.

• A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension, (i) the LC Exposure will not exceed $75,000,000 and (ii) the Total Outstanding Amount will not exceed the Maximum Facility Availability then in effect.

• Subject to the terms and conditions and relying upon the representations and warranties herein set forth, each Lender agrees, severally and not jointly, to make Revolving Loans to the Borrowers from time to time on any Business Day during the Revolving Period in amounts such that (i) the Outstandings of such Lender shall at no time exceed the amount of its Commitment and (ii) the Total Outstandings shall at no time exceed the Maximum Facility Availability.

• If at any date the Total Revolving Extensions of Credit exceed the Maximum Facility Availability calculated as of such date, the Borrower shall prepay the Loans and the outstanding Letters of Credit shall be Cash Collateralized within three Business Days of such date in an amount equal to or greater than such excess so that the Total Revolving Extensions of Credit no longer exceed the Maximum Facility Availability as of such date.

More Definitions of Maximum Facility Availability

Maximum Facility Availability means (a) at any time prior to the receipt by the Administrative Agent of a certified copy of the Final Order, $15,000,000 and (b) thereafter, the aggregate Commitments of all Lender Parties at such time (which in any event shall not exceed $35,000,000 and may be reduced from time to time, including pursuant to Section 2.05(b)); provided that, at any time prior to the later to occur of (i) the Administrative Agent's receipt of a subscription agreement or other evidence of commitments (in a form acceptable to the Administrative Agent in its sole discretion) from investors to purchase not less than $75 million in senior unsecured convertible notes on the effective date of a plan of reorganization acceptable to such note purchasers and the Administrative Agent and (ii) NTELOS Telephone Inc. and Roanoke & Botetourt Telephone Co. becoming Subsidiary Guarantors pursuant to Section 8.05 hereof as duly authorized by the State Corporation Commission of the Commonwealth of Virginia, the Maximum Facility Availability will be the lesser of (x) the amount determined in accordance with clauses (a) and (b) and (y) $10,000,000.

Maximum Facility Availability at any date, an amount equal to the lesser of (a) the Total Revolving Credit Commitments on such date and (b) the Adjusted Borrowing Base on such date; provided that, if, immediately following the consummation a successful initial public offering of the Capital Stock of the REIT with minimum proceeds of $175,000,00, the book value of the REIT is less than $1,000,000,000, the Maximum Facility Availability shall not exceed $50,000,000 until such time as the book value of the REIT is equal to or greater than $1,000,000,000, at which time this proviso shall cease to be of any further force and effect.

Maximum Facility Availability means: (a) at any time on or after the Phase I Effective Date but prior to the Phase II Effective Date, the least of (i) the Working Capital Commitments at such time, (ii) the Borrowing Base at such time and (iii) the sum of $13,000,000 in aggregate principal amount of Loans and $6,218,997.62 in Letter of Credit Liabilities, and (b) at any time on or after the Phase II Effective Date, the amount by which the lesser of the Working Capital Commitments and Borrowing Base at such time exceeds $5,000,000.

Maximum Facility Availability at any date, an amount equal to the lesser of (a) the Total Revolving Credit Commitments on such date and (b)(i) the Borrowing Base on such date, minus (ii) the Term Loan Amount on such date. “Modification Period”: the period beginning on the First Amendment Effective Date and ending on the Modification Period Termination Date. “Modification Period Termination Date”: the date that is the earlier of (i) December 31, 2021 and (ii) the Optional Modification Period Termination Date. “Money Laundering Control Act”: the Money Laundering Control Act of 1986, as amended from time to time. “Moody’s”: Xxxxx’x Investors Service, Inc. and its successors. “Mortgage Financing”: Indebtedness of the type permitted by Section 7.2(h).

Maximum Facility Availability or “Total Asset Value,” (and, with respect to each such definition, the related defined terms used therein, solely to the extent such related defined terms are used in the calculation of the Borrowing Base) or (y) the definitions of “Debt Service Coverage Amount” (and the related defined terms used therein), “Net Operating Income” (and the related defined terms used therein) or any other defined terms (and the related defined terms used therein) used in the financial covenants set forth in Section 7.1, or (z) Section 2.10, 5.3 or 5.4, in each case, without the consent of the Supermajority Lenders.; or

Maximum Facility Availability means, at any date, an amount equal to the lesser of (i) the aggregate amount of the Commitments on such date and (ii) the Borrowing Base on such date. Millennium Holdings Group shall have the meaning specified in Article 7. Moodys shall mean Moodys Investors Service, Inc., and its successors. Multiemployer Plan means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which any Loan Party, any Subsidiary or any ERISA Affiliate makes or is obligated to make contributions, during the preceding five plan years, has made or been obligated to make contributions or otherwise could reasonably be expected to incur liability. Net Proceeds means with respect to any Disposition or Casualty Event 100% of the cash proceeds actually received by any Restricted Party from any such Disposition or Casualty Event (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or purchase price adjustment receivable or otherwise and including casualty insurance settlements and condemnation awards in respect of any Collateral or any equipment, fixed assets or real property (including any improvements thereof) to replace or repair such equipment, fixed assets or real property, but only as and when received, and excluding any liabilities assumed by the transferee and deemed to be cash for purposes of Section 7.05(j)(ii)), in each case net of

Maximum Facility Availability means, at any date, an amount equal to the lesser of (i) the aggregate amount of the Lenders' Commitments on such date and (ii) the Borrowing Base on such date.