Minimum Excess Availability Amount definition

Minimum Excess Availability Amount means the greater of (x) $65,000,000 and (y) 10% of the Line Cap.

Minimum Excess Availability Amount means, as of any date of determination, the greater of (i) ten percent (10%) of the Borrowing Base in effect as of such date and (ii) $750,000.

Minimum Excess Availability Amount means $5,000,000.

Examples of Minimum Excess Availability Amount 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.

• Borrowers shall not permit Excess Availability at any time following the Availability Block Release Date 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 are required to have been delivered to Agent pursuant to Section 7.15, the Fixed Charge Coverage Ratio for the applicable FCCR Measurement Period then ended is greater than 1:05 to 1:00.

• Ms. Cardiello explained it was a personnel issue and could not elaborate.

• Borrowers’ Excess Availability as of the Reporting Date is $ , and Borrowers’ lowest Excess Availability at any time during the period from the last reporting date through the Reporting Date was $ , which ☐ satisfies ☐ does not satisfy the requirement set forth in Section 8.1 of the Credit Agreement that the Excess Availability of Borrowers be not less than the Minimum Excess Availability Amount (as determined in accordance with Section 2 above) at all times until the Financial Covenant Change Date.

• The making of a Loan, the issuance of a Letter of Credit or the provision of any other credit support to the extent that, immediately after its having been made, the result of the Aggregate Excess Availability minus the Minimum Excess Availability Amount is less than zero ($0).

More Definitions of Minimum Excess Availability Amount

Minimum Excess Availability Amount means, as of any date of determination, the greater of (i) $1,500,000 and (ii) an amount equal to ten percent (10%) of the Adjusted Borrowing Base.

Minimum Excess Availability Amount means, as of any date of determination, the greater of (a) 12.5% of the Maximum Revolver Amount and (b) $25,000,000.

Minimum Excess Availability Amount means the amount of Excess Availability required to be maintained by the Loan Parties pursuant to Section 9.2 of the Term Loan Agreement as in effect on the date hereof.

Minimum Excess Availability Amount means, as of any date of determination, the sum of (a) the daily average Availability plus (b) the amount of cash or Cash Equivalents (not to exceed $25,000,000) deposited in the Availability Cash Collateral Account and designated by the Borrowers as being allocated to the Minimum Excess Availability Amount.

Minimum Excess Availability Amount means, as of any date of determination, the greater of (a) 10% of the Line Cap and (b) $<20,000,000>27,000,000.

Minimum Excess Availability Amount means $750,000.

Minimum Excess Availability Amount means, as of any date of determination, the sum of (a) the daily average Availability plus (b) the amount of cash or Cash Equivalents (not to exceed, (i) if on or prior to the Trademark Subfacility Payoff Date, $100,000,000 and (ii) if after the Trademark Subfacility Payoff Date, $25,000,000) in either case deposited in the Availability Cash Collateral Account and designated by the Borrowers as being allocated to the Minimum Excess Availability Amount.