Overadvance Availability definition

Overadvance Availability has the meaning specified in Section 3.03.
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Overadvance Availability means the Overadvance Availability, if any, set forth in the Contract Data Sheet by which Outstandings under the Revolving Loan may exceed the Borrowing Base and/or the Maximum Amount (as the case may be as set forth in the Contract Data Sheet) by the amounts set forth in the Contract Data Sheet during the period(s) set forth in the Contract Data Sheet;
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Overadvance Availability shall have the meaning set forth in Section 2(d)(iii) hereof.
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Examples of Overadvance Availability in a sentence

  • As of the Temporary Overadvance Termination Date, the entire unpaid principal balance of, and all accrued interest on, that portion of the Revolving Loans attributable to the Temporary Overadvance Availability, if not sooner repaid, will be due and payable in full and the Temporary Advance Cap will be equal to zero (0) Dollars; and, for purposes of this Agreement, the other Loan Documents and availability under the Borrowing Base, the Temporary Overadvance Availability will be terminated.

  • Minimum Average Monthly Loan Amount Maximum Revolving Amount Overadvance Availability Overdraft Loans Overadvance Rate Receivables Availability Revolving Interest Rate Term Loan Term Loan Rate Term Note PROVIDED, that such deletions shall not impair any references to any of such terms in the provisions added by this Amendment.

  • Any balance of the Revolving Loan (including the Overadvance Facility and including the Letter of Credit Reserve) outstanding at any time in excess of the lesser of (i) the Facility Cap and (ii) the sum of (x) the Borrowing Base plus (y) the Maximum Overadvance Availability, shall be immediately due and payable by Borrowers without the necessity of any demand whether or not a Default or Event of Default has occurred or is continuing.

  • Subject to the other terms and conditions of this Agreement, the Temporary Overadvance Availability will be available until 5:00 p.m., Cincinnati, Ohio time on: (1) May 30, 2014, or (2) such later date as Bank may, in its sole discretion, designate to Borrowers in a writing signed by Bank after the Third Amendment Signature Date (the “Temporary Overadvance Termination Date”).

  • The Borrower agrees to pay to the Agent, for the ratable account of the Lenders, on the date that the Borrower executes Amendment No. 2 to this Agreement a fee of $25,000, and on the date that the Borrower's use of Availability based on the Winter 2000 Overadvance Availability exceeds $1,000,000, an additional fee of $25,000 (making for a total fee under such circumstances of $50,000), which fees shall be non-refundable and fully earned on each such payment date.

  • Borrower shall not be entitled to a Revolving Credit Loan if, after giving effect to such Revolving Credit Loans to Borrower then outstanding plus the Letter of Credit Outstandings at such time would exceed the lesser of (i) the Aggregate Revolving Loan Commitment or (ii) the then current Borrowing Base plus the Overadvance Availability or (B) the unpaid principal amount of the Revolving Credit Loans to Borrower then outstanding would exceed $25,000,000.

  • The Temporary Overadvance Availability will be added to the Borrowing Base as provided in the definition of Borrowing Base in Section 1.1. The Temporary Overadvance Availability will not exceed an amount, as at any time of determination, equal to: (a) the Temporary Advance Cap less (b) the sum of all outstanding amounts drawn (or deemed to be drawn) under the Temporary Overadvance Availability as of each date of drawing by any Borrower of the Temporary Overadvance Availability.

  • If, by 5:00 p.m., Cincinnati, Ohio time on the Temporary Overadvance Termination Date, the entire unpaid principal balance of, and all accrued interest on, that portion of the Revolving Loans attributable to the Temporary Overadvance Availability is not repaid in full, then it will be an immediate Event of Default.

  • After any permanent reduction of the Overadvance Availability pursuant to this Section 2(d), the Borrower may replace the then outstanding Overadvance Letter of Credit (the “Initial Overadvance Letter of Credit”) with a replacement letter of credit, in form and substance satisfactory to Agent, in an outstanding amount equal to the value of the Initial Overadvance Letter of Credit minus the amount of such permanent reduction.

  • The Borrower agrees to pay to the Agent, for the ratable account of the Lenders, on the date that the Borrower executes Amendment No. 4 to this Agreement a fee of $25,000, and on the date that the Borrower's use of Availability based on the Winter 2001 Overadvance Availability exceeds $1,000,000, an additional fee of $25,000 (making for a total fee under such circumstances of $50,000), which fees shall be non-refundable and fully earned on each such payment date.


More Definitions of Overadvance Availability

Overadvance Availability means as of the date of determination, the aggregate principal amount of the Overadvance Advances available to be borrowed by the Borrowers hereunder at the time of determination in accordance with SECTION 2.3 which shall be equal to the remainder derived by subtracting the aggregate principal amount of the Overadvance Advances outstanding on such date from an amount equal to the lesser of (i) the Total Credit Facility, MINUS, the total principal amount outstanding as of the date of determination under the Revolving Credit Advances, the CAPEX Credit Advances, the Fixed Asset Advances, and the Letter of Credit Obligations and (ii) $2,000,000.
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Overadvance Availability means an amount equal to $1,000,000 in excess of the Formula Amount.
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Overadvance Availability means, prior to and on March 31, 1997, $5,000,000, and after March 31, 1997, $0, subject to reductions provided in Section 2.7 (c).
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Related to Overadvance Availability

  • 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.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

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

  • 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.

  • 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.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • 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.

  • Canadian Availability means, as of any date of determination, the amount (if any) by which (a) Canadian Available Credit, exceeds (b) the sum of the aggregate Dollar Equivalent of (i) Revolver Credit Advances made to the Canadian Borrowers plus (ii) the Canadian Borrowers’ Letter of Credit Obligations (other than the Canadian Borrowers’ Letter of Credit Obligations cash collateralized in accordance with the terms of the Loan Documents).

  • 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.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • 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.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Average Availability means, at any Adjustment Date, the average daily Availability for the fiscal quarter immediately preceding such Adjustment Date.

  • Overadvance has the meaning set forth in Section 2.5.

  • Availability Block means $15,000,000.

  • System Availability means, with respect to any particular calendar month, the ratio obtained by subtracting Unscheduled Downtime during such month from the Total Monthly Time, and thereafter dividing the difference so obtained by the Total Monthly Time. Represented algebraically, System Availability for any particular calendar month is determined as follows:

  • 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.

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • Canadian Overadvance has the meaning assigned to such term in Section 2.04(b).

  • Network Availability means the capability of the equipment to resume functions after a remotely initiated trigger has been detected by a network port;