Pro Forma Excess Availability Condition definition

Pro Forma Excess Availability Condition means that, for any date of calculation and with respect to any Specified Payment, Pro Forma Excess Availability shall equal or exceed the Trigger Amount; provided that such threshold amount shall be increased to the greater of (a) the Trigger Amount and (b) $225,000,000 with respect to any Specified Payment under Section 7.02(j) or (n), 7.03(n), or 7.05(f) in the event that the Lead Borrower shall have elected to include any Restricted Subsidiary that is a Foreign Subsidiary in the calculation of the Consolidated Fixed Charge Coverage Ratio required to be tested in such Sections; provided further, that with respect to any transaction consummated pursuant to Section 7.02(j) (solely to the extent the consideration for such Permitted Acquisition exceeds $25,000,000), 7.02(d)(v) or (n), or 7.03(n) (solely to the extent such transaction exceeds $15,000,000), satisfaction of such condition and any other financial tests in such section, shall be evidenced by a certificate from the Chief Financial Officer or other financial officer of the Lead Borrower demonstrating, in reasonable detail, satisfaction thereof, which certificate shall be delivered to the Administrative Agent prior to making any Specified Payment.

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More Definitions of Pro Forma Excess Availability Condition

Pro Forma Excess Availability Condition means, for any date of calculation with respect to any Specified Payment, the Pro Forma Excess Availability both immediately before and immediately after giving Pro Forma Effect to such Specified Payment, will equal or exceed the Trigger Amount; provided that such threshold amount shall be increased to the greater of (a) the Trigger Amount and (b) $150,000,000 with respect to any Specified Payment under Section 7.02(j), 7.02(n), 7.03(n), 7.05(f), 7.06(k) or 7.12(a)(vi) in the event that the Lead Borrower shall have elected to include any Restricted Subsidiary that is a Foreign Subsidiary in the calculation of the Consolidated Fixed Charge Coverage Ratio required to be tested in such Sections; provided further, that with respect to any transaction consummated pursuant to Section 7.02(j) (solely to the extent the consideration for such Permitted Acquisition exceeds $25,000,000), 7.02(n), 7.03(e), 7.03(n) (solely to the extent such transaction exceeds $15,000,000) or 7.06(k), satisfaction of such condition and any other financial tests in such section, shall be evidenced by a certificate from the Chief Financial Officer or other financial officer of the Lead Borrower demonstrating, in reasonable detail, satisfaction thereof, which certificate shall be delivered to the Administrative Agent prior to making any Specified Payment.

Pro Forma Excess Availability Condition means, for any date of calculation with respect to any Specified Payment, the Pro Forma Excess Availability both immediately before and immediately after giving Pro Forma Effect to such Specified Payment, will equal or exceed the Trigger Amount; provided that such threshold amount shall be increased to the greater of (a) the Trigger Amount and (b) $150,000,000 with respect to any Specified Payment under Section 7.02(d)(v), (j), or (n), 7.03(n), or 7.05(f) in the event that the Lead Borrower shall have elected to include any Restricted Subsidiary that is a Foreign Subsidiary in the calculation of the Consolidated Fixed Charge Coverage Ratio required to be tested in such Sections; provided further, that with respect to any transaction consummated pursuant to Section 7.02(j) (solely to the extent the consideration for such Permitted Acquisition exceeds $25,000,000), 7.02(d)(v) or (n), or 7.03(n) (solely to the extent such transaction exceeds $15,000,000), satisfaction of such condition and any other financial tests in such section, shall be evidenced by a certificate from the Chief Financial Officer or other financial officer of the Lead Borrower demonstrating, in reasonable detail, satisfaction thereof, which certificate shall be delivered to the Administrative Agent prior to making any Specified Payment.

Pro Forma Excess Availability Condition means, for any date of calculation with respect to any transaction or payment, the Pro Forma Excess Availability as of the date of, and after giving effect to, such transaction or payment, will be equal to or greater than fifteen (15%) percent of the lesser of (i) the then Aggregate Commitments, or (ii) the then Borrowing Base.

Pro Forma Excess Availability Condition means, for any date of calculation with respect to any Specified Payment, the condition that (i) the Pro Forma Excess Availability following, and after giving Pro Forma Effect to, such Specified Payment, will equal or exceed 20.00% of the lesser of the Aggregate Commitments and the Borrowing Base; provided that such threshold amount shall be (A) 15.00% of the lesser of the Aggregate Commitments and the Borrowing Base with respect to any Specified Payment permitted under Sections 7.02(o)(ii) (other than in respect of the proviso therefor), 7.06(k) (other than in respect of the proviso therefor) and 7.12(a)(v), (B) 17.50% of the lesser of the Aggregate Commitments and the Borrowing Base with respect to any Specified Payment permitted under Section 7.02(j)(v) and 7.03(h) and (C) 25.00% of the lesser of the Aggregate Commitments and the Borrowing Base with respect to any Specified Payment permitted under Section 7.06(f) and (ii) only with respect to Specified Payments permitted under Sections 7.03(f) and 7.06(f) or with respect to the designation of a Restricted Subsidiary as an Unrestricted Subsidiary, the Consolidated Fixed Charge Coverage Ratio (calculated on a Pro Forma Basis) will for the most recently completed Test Period ending on or prior to such date of calculation be at least 1.00 to 1.0.