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 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.

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.

• 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 Applicable Margin as to Revolving Credit Loans will be adjusted on the first day of each fiscal quarter, commencing on October 1, 2020 (each such date an “Adjustment Date”), effective prospectively, by reference to the applicable “Financial Measurement” (as defined below) for the quarter most recently ending in accordance with the following: For purposes hereof, “Financial Measurement” shall mean the Quarterly Average Excess Availability for Applicable Margin Percentage.

• 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 immediately preceding three (3) month period commencing on the first day of the month of such period.

More Definitions of Quarterly Average Excess Availability

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.

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, for any three (3) month period commencing on the first day of the month of such period, the daily average of the Excess Availability for such period.

Quarterly Average Excess Availability means, with respect to any Fiscal Quarter, the sum of the aggregate amount of Excess Availability for each day in such period (as calculated by the Agent as of the end of each respective day) divided by the number of days in such period.

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

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, at any time, the average of Excess Availability for each day of the immediately preceding calendar quarter (or, in the case of the quarter in which the Closing Date occurs, for each day from the Closing Date through the end of such quarter) as calculated by the Administrative Agent (which shall be conclusive absent manifest error).