Minimum Excess Availability Reserve means a special Reserve maintained by Agent in an amount at all times equal to $11,500,000.
Minimum Excess Availability Reserve means a special Reserve maintained by Agent in an amount at all times equal to the sum of (i) $11,500,000; provided that Agent may at any time, in its sole discretion, reduce such amount to $8,500,000 pursuant to a written notice to Borrower specifically referring to this definition minus (ii) at all times on or prior to October 10, 2008, $6,000,000”
Minimum Excess Availability Reserve means a special Reserve established by Agent on the Closing Date and maintained by Agent until the Termination Date in an amount equal to (i) $5,000,000 during the Pre-Peak Season and (ii) $10,000,000 during the Peak Season and the Off-Season.
Examples of Minimum Excess Availability Reserve in a sentence
In the event that Agent is unable to establish new levels of EBITDA for any fiscal year due to Borrower's failure to provide it with a Business Plan or other financial information or any other reason, the Minimum Excess Availability Reserve shall increase to Three Million Seven Hundred Fifty Thousand Dollars ($3,750,000) until such time, if any, as Agent is able to establish EBITDA levels for such fiscal year.
More Definitions of Minimum Excess Availability Reserve
Minimum Excess Availability Reserve means a special Reserve established by Agent on the Third Amendment Effective Date and maintained by Agent until the Termination Date in an amount equal to Twenty Five Million Dollars ($25,000,000).
Minimum Excess Availability Reserve means, on any Business Day of determination, as determined by Agent, a reserve in the amount of the greater of (i) $3,000,000 and (ii) 20% of the aggregate outstanding Working Capital Obligations on the applicable date of determination, provided, that, at any time that Borrowers deliver to Agent the Corporate Credit Rating Certificate certifying that Euramax has achieved a corporate credit rating of at least B- from S&P and at least B3 from Moody’s, then the amount of the Minimum Excess Availability Reserve shall be an amount equal to $3,000,000, for so long as Euramax maintains such corporate credit rating.
Minimum Excess Availability Reserve means $1,500,000.00.”
Minimum Excess Availability Reserve means One Million Dollars ($1,000,000.00).
Minimum Excess Availability Reserve means Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000.00).
Minimum Excess Availability Reserve means a special Reserve established by Agent on the Closing Date and maintained by Agent until the Termination Date (1) with respect to Fiscal Year 2003 in an amount equal to (x) $5,000,000 during the period from and including the first day of the Fiscal Month of July, 2003 and through and including December 15, 2003 and (y) $10,000,000 at all other times during Fiscal Year 2003, (ii) $5,000,000 during the Fiscal Months of August, September, October, November in each of the Fiscal Years 2004 and 2005, and (iii) $10,000,000 at all other times.”