Minimum Excess Availability definition

Minimum Excess Availability means the amount equal to the Credit Limit less the principal amount of outstanding Loans.
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Minimum Excess Availability the greater of (i) $25,000,000, or (ii) 15% of the lesser of (A) the RC Commitment and (B) the amount of the Borrowing Base.
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Minimum Excess Availability means, for any period, the lowest amount of Excess Availability at the opening of business on any Business Day in such period; provided, that for purposes of determining Minimum Excess Availability, the Initial Reserve shall be disregarded.
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Examples of Minimum Excess Availability in a sentence

  • Borrowers shall not permit Excess Availability at any time to be less than the Minimum Excess Availability Amount, unless as of the last day of the most recent month for which the monthly financial statements of Borrowers and the related Compliance Certificate have been or are required to have been delivered to Agent pursuant to Section 7.15, the Fixed Charge Coverage Ratio for the twelve consecutive calendar month period then ended is greater than 1.05 to 1.00.

  • Wuhan Zhanchi contributed revenue of approximately RMB1,457,000 and profit of RMB289,000 in the period between the date of acquisition and 30 June 2016.

  • Additional Real Estate, Leased Locations 62 ARTICLE VI FINANCIAL COVENANTS 65 Section 6.1. Leverage Ratio 65 Section 6.2. Fixed Charge Coverage Ratio 65 Section 6.3. Minimum Excess Availability 65 Section 6.4. Minimum Cash Balance 65 Section 6.5. Minimum Consolidated Adjusted EBITDA 65 ARTICLE VII NEGATIVE COVENANTS 65 Section 7.1. Indebtedness and Preferred Equity.

  • Compliance shall be determined as of the end of each month, except as otherwise specifically provided below: MINIMUM CASH ON HAND/MINIMUM EXCESS AVAILABILITY: Borrower shall at all times maintain a combination of a minimum of unrestricted cash (and cash equivalents) in accounts maintained at Silicon, and Minimum Excess Availability, in an amount of not less than $1,000,000.

  • A breach of the Minimum Excess Availability Requirement can be cured in accordance with Section 17(g) below.


More Definitions of Minimum Excess Availability

Minimum Excess Availability means the amount by which (a) the lesser of (i) the Borrowing Base and (ii) the Commitments exceeds (b) the aggregate outstanding amount of all Loans.
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Minimum Excess Availability is defined in Section 8.33 hereof.
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Minimum Excess Availability means Seven Million Dollars ($7,000,000).
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Minimum Excess Availability mean not less than $2,000,000 in Excess Availability for a 30-day period prior to the applicable Interest Payment Date and pro-forma taking into account any Minimum Interest Payment or loan fee payment proposed to be made on the Interest Payment Date in question.
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Minimum Excess Availability means, at any time, (a) prior to the date which is the date of entry of the Final Order, $12,000,000, plus the amount of any Availability Reserve (as adjusted from time to time pursuant to the terms of the definition thereof and/or clause (e) of Section 2.7) and (b) on and after the date of entry of the Final Order, including the granting of the Priority Lien, the amount of any Availability Reserve (as adjusted from time to time pursuant to the terms of the definition thereof and/or clause (e) of Section 2.7).
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Minimum Excess Availability means (a) $12,000,000, as such amount may be reduced by the Administrative Agent from time to time pursuant to Section 7.2.4, plus (b) any Availability Reserve (as adjusted from time to time pursuant to clause (e) of Section 2.7).
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Minimum Excess Availability means, at any time (a) prior to the date which is the date of entry of the Priming Order, $12,000,000, plus the amount of any Availability Reserve (as adjusted from time to time pursuant to the terms of the definition thereof and/or clause (e) of Section 2.7) and (b) on and after the date of entry of the Priming Order, the amount of any Availability Reserve (as adjusted from time to time pursuant to the terms of the definition thereof and/or clause (e) of Section 2.7), plus, for all purposes of this Agreement other than Section 7.2.21, the sum of (x) $6,000,000 plus (y) 15% of the aggregate amount of any reductions in the Current Assets Loan Commitment Amount pursuant to clause (b) of Section 3.1.2 as a result of Dispositions of Fixed Assets Collateral.
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