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, 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 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 Closing Date and maintained by Agent in an amount at all times equal to 10% of the lesser of (i) the Maximum Amount and (ii) the sum of the amounts set forth in clauses (a), (b), (c), (d), (e) and (f) of the definition of Borrowing Base.
Minimum Excess Availability Reserve means a special Reserve established by Agent on the Closing Date and maintained by Agent in an amount at all times equal to $5,000,000.
Minimum Excess Availability Reserve means $1,500,000.00.”
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: (i) on any Business Day of determination on or after the Closing Date but prior to the Tenth Amendment Date, a reserve in the amount of $1,000,000, (ii) on any Business Day of determination on or after the Tenth Amendment Date but prior to June 1, 2015, a reserve in the amount of $0, and (iii) on any Business Day of determination on or after June 1, 2015, a reserve in the amount of $1,000,000.
Minimum Excess Availability Reserve means, at any time, $10,000,000.
Minimum Excess Availability Reserve means Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000.00).