Quarterly Average Excess Availability definition

Quarterly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding fiscal quarter as calculated by Agent in good faith.

Quarterly Average Excess Availability means, at any time, the daily average of the aggregate amount of the Excess Availability for the immediately preceding calendar quarter, commencing on the first day of such calendar quarter.

Quarterly Average Excess Availability means, for any Fiscal Quarter, the average for such Fiscal Quarter of the daily amounts determined as of 5:00 p.m. (New York City time) for each day during such Fiscal Quarter expressed as a percentage equivalent to a fraction (a) the numerator of which is the Excess Availability at such time and (b) the denominator of which is the Maximum Credit in effect at such time.

Examples of Quarterly Average Excess Availability in a sentence

• Such percentages shall be increased or decreased, as the case may be, to the applicable percentage (on a per annum basis) set forth below based on the Quarterly Average Excess Availability for the immediately preceding three (3) month period commencing on the first day of the month of such period.

• Thereafter interest rate margins are based on Quarterly Average Excess Availability.

• Such percentages shall be increased or decreased, as the case may be, to the applicable percentage (on a per annum basis) set forth below based on the Quarterly Average Excess Availability for the immediately preceding calendar quarter.

• Such unused line fee percentage shall be used commencing on the date hereof based on the Quarterly Average Excess Availability during the fiscal quarter of Borrowers ending immediately prior to the date hereof.

• The definition of “Applicable Margin” set forth in the Credit Agreement is hereby amended by deleting the table contained therein in its entirety and replacing such table with the following: “Tier Quarterly Average Excess Availability Applicable LIBOR Rate Margin Applicable Base Rate Margin 1 Greater than $50,000,000 2.00% 1.00% 2 Greater than or equal to $25,000,000 but less than or equal to $50,000,000 2.25% 1.25% 3.

More Definitions of Quarterly Average Excess Availability

Quarterly Average Excess Availability means, at any time, the average of the amount of the Excess Availability for the immediately preceding fiscal quarter as calculated by Lender in good faith based on the amount of the Excess Availability on the date in each week during such fiscal quarter as of which the Borrowing Base is calculated in the reports provided by Borrower to Lender pursuant to Section 6.1(a) hereof.

Quarterly Average Excess Availability means, for any calendar quarter, the daily average of the aggregate amount of Excess Availability for such calendar quarter.

Quarterly Average Excess Availability means, at any time, the sum of the aggregate amount of Excess Availability for each Business Day for the immediately preceding three-month period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such three-month period, commencing on the first Business Day of such three-month period.

Quarterly Average Excess Availability means, for any three (3) month period, the daily average of the aggregate amount of the Excess Availability for such three (3) month period.

Quarterly Average Excess Availability means, at any time, the average of the Excess Availability for each day of the immediately preceding calendar quarter as calculated by the Agent (which shall be conclusive absent manifest error).

Quarterly Average Excess Availability means, for any fiscal quarter of Borrowers, the daily average of the aggregate amount of the Excess Availability for such fiscal quarter; provided, that, for purposes of this definition Excess Availability shall be calculated without regard to the Maximum Credit.

Quarterly Average Excess Availability means, at any time, the daily average of the aggregate amount of the Excess Availability for the immediately preceding Fiscal Quarter.