Minimum Availability Requirement definition

Minimum Availability Requirement has the meaning given such term in Section 5.04.
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Minimum Availability Requirement means the amount, as calculated under the Existing Securitization Facility, equal to the lesser of (i) $350,000,000 and (ii) the excess of (A) the "Eligible Receivables Balance" less the amount by which the "Eligible Receivables Balance" exceeds the "Concentration Limits" for all "Obligors" (each defined term as defined in the Existing Securitization Facility) over (B) the "Aggregate Reserves" (as defined in the Existing Securitization Facility), in each case, calculated in a manner consistent with the methodology used immediately prior to the termination of the Existing Securitization Facility as exemplified by the underlying calculations reflected in Schedule 2 to this Annex X.
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Minimum Availability Requirement means, with respect to any proposed payments under Section 3.1(iii) or Section 3.1(v), satisfaction of each of the following conditions: (i) Availability at any time during the ninety-day period immediately preceding the date of such payment shall not be less than $30,000,000 for any three consecutive days, (ii) on the date of such payment and after giving effect thereto, Availability shall not be less than $30,000,000, and (iii) Availability at any time during the four-month period immediately succeeding the date of such payment shall be projected to be no less than $30,000,000, as set forth in projections prepared by Borrower and reasonably acceptable to Senior Agent.
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Examples of Minimum Availability Requirement in a sentence

  • Minimum Availability Requirement For the purposes of determining whether the Minimum Availability Requirement for an SRAS has been met, and the extent of any shortfall, the Availability of the SRAS is measured over each Relevant Period in accordance with paragraph (b).

  • If an SRAS is Unavailable solely as a result of an Event of Force Majeure or an act or omission of AEMO: the SRAS is taken to be Available for the purposes of determining the payment due to the SRAS Provider in respect of the Availability Charge; and that Unavailability is to be disregarded in determining whether the SRAS meets the Minimum Availability Requirement.

  • On-call service payments will not be applied to those employees on the Minimum Availability Requirement (MAR) list (see Section 60.8).

  • A termination notice given under paragraph (a)(iii) or (iv) must set out how compliance with the Minimum Availability Requirement or SRAS Equipment Reliability level was measured.

  • Evidence, reasonably satisfactory to the Bank, that, as of the Closing Date and following an Advance made on the Closing Date, Borrower shall satisfy the Minimum Availability Requirement on the Closing Date.

  • During any period when an NMAS is Unavailable solely as a result of an Event of Force Majeure or an act or omission of AEMO, it is nevertheless taken to be Available for the purpose of determining whether the NMAS meets the Minimum Availability Requirement.

  • The Company’s chief financial officer shall have delivered an officer’s certificate to each of the Lenders setting forth the calculations required to demonstrate that the Company is in compliance with the Minimum Availability Requirement and the Maximum Hedging Limitation as of the Closing Date.

  • Termination by AEMO AEMO may immediately terminate this Agreement by giving notice to the NMAS Provider if: the NMAS Provider fails twice within a 6-month period to demonstrate that the NMAS is Available when requested to provide the NMAS or otherwise required to demonstrate its Availability under this Agreement; or the Minimum Availability Requirement is not met for any Relevant Period.

  • Other Fees: $15 Wire Fees $300 Monthly CSI Fee Minimum Availability Requirement: $2,000,000 at closing and average availability of $2,000,000 on a monthly basis at all times thereafter.

  • Non liquidating distributions will be made to LPs in accordance with their Percentage Interests.


More Definitions of Minimum Availability Requirement

Minimum Availability Requirement means at any time $75,000,000.
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Minimum Availability Requirement has the meaning given such term in Section 5.04.Minimum Collateral Amount” means, at any time, with respect to Cash Collateral consisting of Cash or deposit account balances, an amount equal to 100% of the Fronting Exposure of the Issuing Bank with respect to Letters of Credit issued and outstanding at such time.
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Minimum Availability Requirement means either (i) Revolving Credit Availability in excess of $15,000,000 or (ii) Revolving Credit Availability of at least $7,500,000 and additional Collateral Availability in excess of the Revolving Credit Facility, which, when added to the Revolving Credit Availability, exceeds $15,000,000.
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Minimum Availability Requirement shall have the meaning as set forth in the CIT Subordination Agreement.
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Minimum Availability Requirement means the aggregate amount of (a) cash and Cash Equivalents of Parent and its Subsidiaries on a Consolidated basis plus (b) availability under the Line of Credit, in an amount greater than $5,000,000.
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Minimum Availability Requirement as defined in the Streamline Agreement is hereby amended to read as follows: “Borrower maintains unrestricted cash (and cash equivalents) at Silicon plus “Minimum Excess Availability” (as defined in Streamline Agreement) in excess of $2,500,000”.
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Related to Minimum Availability Requirement

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

  • 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.

  • System Availability for each System is calculated as follows:

  • Liquidity Requirement shall have the meaning as set forth in Section 2.12(b).

  • Availability Block means $15,000,000.

  • 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.

  • Minimum Liquidity means, as of any date of determination, the sum of (a) the aggregate unused amount of the Commitments as of such date and (b) unrestricted cash of the Loan Parties as of such date.

  • 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.

  • 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.

  • FILOT Act Minimum Investment Requirement means, with respect to the Project, an investment of at least $2,500,000 by the Company, or of at least $5,000,000 by the Company and any Sponsor Affiliates in the aggregate, in Economic Development Property.

  • Minimum DSCR means, with respect to a Supplemental Loan, (i) if the Senior Indebtedness bears interest at a fixed rate, 1.25:1, or (ii) if the Senior Indebtedness bears interest at a floating rate, 1.10:1.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Minimum Requirements means the minimum requirements for available commercial structures. The minimum requirements may be found at this link: https://portlandgeneral.com/energy- choices/renewable-power/green-future-impact The minimum requirements may be updated from time to time to reflect PGE’s criteria from its latest Commission accepted renewable request for proposals.

  • 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.

  • 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.

  • Availability Reserve means the sum (without duplication of any other reserves or items that are otherwise addressed or excluded through eligibility criteria (including collection rates or collection percentages)) of (a) the Rent and Charges Reserve; (b) the Bank Product Reserve; provided that reserves of the type described in this clause (b) shall be instituted only after consultation with the Lead Borrower; (c) customs duties, and other costs to release Inventory which is being imported into the United States; (d) outstanding Taxes and other governmental charges, including, ad valorem, real estate, personal property, sales, and other Taxes which have priority over the interests of the Administrative Agent in the Current Asset Collateral; (e) salaries, wages and benefits due to employees of the Borrowers which have priority over the interests of the Administrative Agent in the Current Asset Collateral; (f) Customer Credit Liabilities, (g) the Inventory Reserve, and (h) such additional reserves not otherwise addressed in clauses (a) through (g) above, in such amounts and with respect to such matters, as the Administrative Agent in its Credit Judgment 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 three (3) Business Days’ prior written notice to the Lead Borrower, which notice shall include a reasonably detailed description of such 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 shall have the opportunity to 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 have a reasonable relationship to the event, condition or other matter that is the basis for such Availability Reserve or such change and (iii) no event, condition or matter existing or arising prior to or on the Closing Date shall be the basis for any reserve unless such event, condition or matter shall have changed since such time in a manner that is materially adverse to the Lenders. Notwithstanding clause (i) of the preceding sentence, changes to the Availability Reserves solely for purposes of correcting mathematical or clerical errors shall not be subject to such notice period, it being understood that no Default or Event of Default shall be deemed to result therefrom, if applicable, for a period of three (3) Business Days.

  • Minimum L/C Collateral Amount means, at any time, in connection with any Letter of Credit, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 102% of the Revolving L/C Exposure with respect to such Letter of Credit at such time and (ii) otherwise, an amount sufficient to provide credit support with respect to such Revolving L/C Exposure as determined by the Administrative Agent and the Issuing Banks in their sole discretion.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Eligibility Requirement means all eligibility requirements and other qualification requirements for a person to act in the applicable Corporate Trust Capacity under any Appointment as set forth in the related Corporate Trust Contract, including any required authorizations or licenses from the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, the Federal Housing Administration, the Federal Home Loan Bank or the Department of Veterans Affairs.

  • Availability Reserves means, without duplication of any other Reserves or items that are otherwise addressed or excluded through eligibility criteria, such reserves as the Agent from time to time determines in its discretion as being appropriate (a) to reflect the impediments to the Agent’s ability to realize upon the Collateral, (b) to reflect claims and liabilities that the Agent determines may need to be satisfied in connection with the realization upon the Collateral, (c) to reflect criteria, events, conditions, contingencies or risks which the Agent believes in good faith could 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, in the Agent’s discretion, (but are not limited to) 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 Agent in the Collateral; (iv) salaries, wages and benefits due to employees of any 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 Agent in the Collateral, (ix) amounts due to vendors on account of consigned goods, (x) Cash Management Reserves, (xi) Bank Products Reserves and (xii) royalties payable in respect of licensed merchandise.

  • Average Availability means, with respect to any period, the sum of the aggregate amount of Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.

  • Maximum Available Commitment means, subject to the proviso contained in the third sentence of Section 2.02(a), at any time of determination, (a) the Maximum Commitment at such time less (b) the aggregate amount of each Interest Advance outstanding at such time; provided that following a Provider Advance or a Final Advance, the Maximum Available Commitment shall be zero.

  • 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.

  • 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.

  • Contract Minimum Investment Requirement means, with respect to the Project, investment by the Company and any Sponsor Affiliates of at least $4,000,000 in Economic Development Property subject (non-exempt) to ad valorem taxation (in the absence of this Fee Agreement).