Minimum Availability Period definition

Minimum Availability Period means any period (a) commencing when Availability is on any date less than an amount equal to the lesser of (i) 20% of the aggregate Revolving Commitments then in effect and (ii) $100,000,000; and (b) ending after Availability is equal to or greater than an amount equal to the lesser of (i) 20% of the aggregate Revolving Commitments then in effect and (ii) $100,000,000 for a period of 30 consecutive days for purposes of the definition of “Weekly Reporting Period”.
Sample 1Sample 2Sample 3
Minimum Availability Period means any period (a) commencing when Availability for any consecutive two calendar day period is less than the greater of (i) 15% of the Total Commitment and (ii) $15,000,000 and (b) ending after Availability is at least the greater of (i) 15% of the Total Commitment and (ii) $15,000,000 for a period of 30 consecutive days.
Sample 1Sample 2Sample 3
Minimum Availability Period means any period after the end of the DenTek Acquisition Period (a) commencing when Excess Availability for any consecutive two calendar day period is less than the greater of (i) 10% of the lesser of (A) Aggregate Commitments and (B) the Borrowing Base and (ii) $17,500,000 and (b) ending after Excess Availability is at least the greater of (i) 10.0% of the lesser of (A) Aggregate Commitments and (B) the Borrowing Base and (ii) $17,500,000 for a period of 30 consecutive days. - 54-
Sample 1

Examples of Minimum Availability Period in a sentence

  • During any Minimum Availability Period, the Borrower will not permit the Consolidated Fixed Charge Coverage Ratio for the most recently ended Test Period prior to the commencement of such Minimum Availability Period or for any Test Period ending during such Minimum Availability Period to be less than 1.0 to 1.0.

  • During any Minimum Availability Period, RailAmerica will not permit the Fixed Charge Coverage Ratio for the most recently ended Test Period prior to the commencement of such Minimum Availability Period or for any Test Period ending during such Minimum Availability Period to be less than 1.1 to 1.0.

  • During any Level 1 Minimum Availability Period, the Borrowers will not permit the Fixed Charge Coverage Ratio as at the last day of any Test Period to be less than 1.0 to 1.0.

  • The Borrowers also shall, at the sole expense of the Loan Parties, provide one appraisal per calendar year of any Eligible Real Estate during a period when a Level 2 Minimum Availability Period has been in effect for a period of at least five consecutive Business Days during such calendar year, which appraisal shall be reasonably satisfactory to the Administrative Agent in its sole discretion.

  • Permit, as of the last day of any calendar month of the Borrower (the “Reference Month”) (each date on which the foregoing is tested, a “Test Date”), the Consolidated Fixed Charge Coverage Ratio as of the last day of the period of 12 consecutive months of the Borrower ending on such Reference Month to be less than 1.10:1.00; provided that the sole consequence of the breach of this Section 7.1 shall be that a Minimum Availability Period shall result.


More Definitions of Minimum Availability Period

Minimum Availability Period means any period (a) commencing when Availability for any consecutive three calendar day period is less than $15.0 million (provided that such amount shall be decreased to $10.0 million if at such date the total cash balance in the Control Accounts is at least $5.0 million) and (b) ending after Availability is at least $15.0 million (provided that such amount shall be decreased to $10.0 million if at such date the total cash balance in the Control Accounts is at least $5.0 million) for a period of 30 consecutive days.
Sample 1Sample 2
Minimum Availability Period means any period (a) commencing when Availability is on any date during a Borrowing Base Period less than an amount equal to the lesser of (i) 20% of the aggregate Revolving Commitments then in effect and (ii) $100,000,000; and (b) ending on the date that Availability is equal to or greater than an amount equal to the lesser of (i) 20% of the aggregate Revolving Commitments then in effect and (ii) $100,000,000 for a period of 30 consecutive days for purposes of the definition of “Weekly Reporting Period”. “Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 105% of the Fronting Exposure of all Issuing Banks with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by the Administrative Agent and the Issuing Banks in their sole discretion. “Moody’s” means Xxxxx’x Investors Service, Inc. “Mortgaged Property” means, initially, the real properties referred to on Schedule 4.01(n) and includes each other parcel of real property and improvements and leasehold interests thereto with respect to which a Mortgage is granted (or is required to be granted) pursuant to Section 5.13. “Mortgaged Property Requirements” means, with respect to each Mortgaged Property, each of the following, in form and substance reasonably satisfactory to the Administrative Agent:
Sample 1
Minimum Availability Period each period commencing on a Test Date on which the Borrower is not in compliance with the financial covenant set forth in Section 7.1 and ending on the first subsequent Test Date on which the Borrower is in compliance with the financial covenant set forth in Section 7.1.
Sample 1
Minimum Availability Period means (including by reference to the Levels described below), any period (a) commencing when Availability is less than: Level 1: the greater of $60,000,000 and 15% of the Total Commitments; Level 2: the greater of $80,000,000 and 20% of the Total Commitments; and Level 3: the greater of $100,000,000 and 25% of the Total Commitments. Table of Contents for three consecutive Business Days (or immediately, in the case of Level 1) and (b) ending after Availability is greater than the amounts set forth above (with respect to the applicable Level) for 30 consecutive days. For the avoidance of doubt, at any time that Availability is equal to or greater than the amounts set forth in Level 2 or Level 3 above, Availability shall also be deemed to be greater than the applicable Level(s) below such Level of Availability and each Minimum Availability Period Level shall include each lesser Level.
Sample 1
Minimum Availability Period set forth in Section 1.01 is hereby amended by adding “after the end of the DenTek Acquisition Period” after “means any period” and before “(a)” of such definition.
Sample 1
Minimum Availability Period means (including by reference to the Levels described below), any period (a) commencing when Availability is on any date less than: Table of Contents Level 1: an amount equal to 15% (or if the IP Secured Financing has been consummated, 17.5%) of the total Revolving Commitments then in effect; Level 2: an amount equal to 20% of the total Revolving Commitments then in effect, but more than Level 1; and (b) ending after Availability is greater than 25% of the total Revolving Commitments then in effect for a period of 60 consecutive days (such period being referred to herein as a “Level 1 Minimum Availability Period” or a “Level 2 Minimum Availability Period”, as applicable). For the avoidance of doubt, (x) at any time that Availability is equal to or greater than the amounts set forth in Level 2 above, Availability shall also be deemed to be greater than Level 1 and (y) a Level 1 Minimum Availability Period includes a Level 2 Minimum Availability Period.
Sample 1
Minimum Availability Period means any period (a) commencing when Availability is on any date less than an amount equal to the lesser of (i) 20% of the aggregate
Sample 1