Term Loan Availability means, at any time, an amount equal to (a) the Term Loan Borrowing Base minus (b) the outstanding principal amount of the Term Loan.
Term Loan Availability means as of any Determination Date, the lesser of (a) the Term Loan Commitments on such date or (b) the Borrowing Base minus the unpaid principal balance of the outstanding Advances as of such date.
Examples of Term Loan Availability in a sentence
In the event that the Tranche 2 Term Lenders notify the Agent of their election to provide the Tranche 2 Term Loans during the Tranche 2 Term Loan Availability Period, the Agent shall promptly provide written notice (or telephonic notice promptly confirmed in writing) to the Borrower no later than three (3) Business Days in advance of the requested borrowing.
More Definitions of Term Loan Availability
Term Loan Availability shall have the meaning given such term is SUPPLEMENT A.
Term Loan Availability as used in this Agreement means $400,000 minus the sum of the original principal amounts of all Term Loans Silicon has made to Borrower, other than the Mitsui Loan.
Term Loan Availability means, initially, an amount of up to the lesser of (1) 80% of the lower of the cost or the forced liquidation value (as determined by the Lender after deduction of such reserves and allowances as the Lender deems proper and necessary) of the Borrower's hereafter acquired Eligible Equipment or (2) $2,960,000.
Term Loan Availability means, as of any date of determination, the difference of (A) the lesser of: (i) the EBITDA Term Loan Limit or the (ii) Term Loan Amount, minus (B) an amount equal to the principal amount of all Term Loan Draws made prior to such date.
Term Loan Availability. The definition of "Term Loan Availability" in Section 1.1 of the Financing Agreement is hereby amended in its entirety by substituting in its stead the following:
Term Loan Availability. The initial Term Loans shall be made available in a single drawing on the Closing Date. Amounts repaid or prepaid may not be reborrowed. Amortization: The initial Term Loans will amortize in equal quarterly installments in an aggregate annual amount equal to 1.0% of the original principal amount of the Term Loan Facility with the remainder due on the Term Loan Maturity Date. Maturity: The initial Term Loans will mature on the seventh anniversary of the Closing Date (the “Term Loan Maturity Date”). The remaining aggregate principal amount of the initial Term Loans will be repayable on the Term Loan Maturity Date. Purpose: The proceeds of the initial Term Loans shall be used to finance the Acquisition and to pay the fees and expenses incurred with the Transactions.
Term Loan Availability as used in this Agreement means $400,000 minus the sum of the original principal 17 SILICON VALLEY BANK AMENDMENT TO LOAN AGREEMENT -------------------------------------------------------------------------------- amounts of all Term Loans Silicon has made to Borrower, other than the Mitsui Loan.