Minimum Availability Amount definition

Minimum Availability Amount means, at any time, the greater of (x) $35,000,000 and (y) 10% of the Total Commitment at such time.

Minimum Availability Amount means that amount of Excess Availability (as defined in the ABL Credit Agreement) required to be maintained by the ABL Credit Parties pursuant to Section 7.15(a) of the ABL Loan Agreement, as in effect on the date hereof.

Minimum Availability Amount means, at any time, the greater of (i) $90,000,000 and (ii) ten percent (10%) of the lesser of (A) the Total Revolving Loan Commitment at such time and (B) the Aggregate Borrowing Base at such time.

Examples of Minimum Availability Amount in a sentence

• If after giving effect to the Credit Event the Borrowing Availability would be less than the Minimum Availability Amount, the Fixed Charge Coverage Ratio for the most recently ended four-Fiscal Quarter period prior to the date of such Credit Event for which financial statements have been delivered is no less than 1.00:1.00.

• For the avoidance of doubt, this Section 7.04 shall not be a condition to any Credit Event if after giving effect to such Credit Event Borrowing Availability is at least equal to the Minimum Availability Amount.

• The Credit Parties shall not permit Borrowing Availability (without duplication, after giving effect to the Term Loan Reserve, the Minimum Availability Amount and all other Reserves then in effect) to be less than zero.

• On any date on which (i) the aggregate principal amount of U.S. Revolving Credit Outstandings exceeds the lesser of (x) aggregate U.S. Revolving Credit Commitments at such time minus the Minimum Availability Amount and (y) the U.S. Borrowing Base minus the Minimum Availability Amount or (ii) the L/C Obligations for all Letters of Credit exceeds the L/C Sublimit, the U.S. Borrowers shall pay to the Administrative Agent an amount equal to such excess.

• The Credit Parties shall not permit Working Capital Availability (after giving effect to the Revolver/Term Loan A Reserve, the Incremental Availability Reserve, the Minimum Availability Amount and all other Reserves (as defined in the Working Capital Agreement) then in effect) to be less than zero.

More Definitions of Minimum Availability Amount

Minimum Availability Amount means, as of any date of determination, an amount equal to the greater of (a) $17,500,000 and (b) 12.5% of the Borrowing Base (but not to exceed 12.5% of the Maximum Amount) as of that date.

Minimum Availability Amount means, (x) for purposes of Section 5.03 hereof and 9.17 hereof, at any time, the greater of (i) $125,000,000 and (ii) twelve and a half percent (12.5%) of the then Total Revolving Loan Commitment and (y) for all other purposes hereunder, at any time, the greater of (i) $100,000,000 and (ii) ten percent (10%) of the then Total Revolving Loan Commitment.

Minimum Availability Amount means, at any time, the greater of (x) $37,500,000 and (y) 12.5% of the Total Commitment at such time.

Minimum Availability Amount means an amount equal to the greater of (a) $200,000,000 and (b) if the Aggregate Exposure is a positive number as of the most recent Test Date, 200% of such Aggregate Exposure.

Minimum Availability Amount means, as of any date of determination, the greater of (a) 7.5% of the Aggregate Borrowing Base and (b) the Term Loan Reserve Amount.

Minimum Availability Amount means, as of any date of determination, an amount equal to the greater of (a) $17,500,000 and (b) 12.5% of the Borrowing Base (but not to exceed 12.5% of the Maximum Amount) as of that date. (iv) By amending the definition of “National Flood Insurance Program” therein in its entirety to read as follows:

Minimum Availability Amount means, at any time, the aggregate principal amount of the Tranche B Term Loan outstanding at such time.”