Total Excess Availability means, at any time, the amount equal to (i) the Line Cap at such time minus (ii) the sum of, without duplication (A) the Dollar Equivalent of the aggregate Revolving Loans and Swingline Loans then outstanding and (B) the Dollar Equivalent of the aggregate LC Exposure at such time.
Total Excess Availability means the US Dollar Amount, as determined by Agent calculated at any time, of the sum of Canadian Excess Availability and US Excess Availability.
Total Excess Availability means the sum of (i) Receivables Excess Availability plus (ii) the total amount actually available to be borrowed by PolyOne and its Subsidiaries, or any of them, under a working capital facility, whether entered into at or after the date hereof.
Examples of Total Excess Availability in a sentence
All information (including calculation of Total Excess Availability) in a Borrowing Base Certificate shall be certified by the Company.
Maintain on each day Receivables Excess Availability in an amount not less than $10,000,000 and Total Excess Availability in an amount not less than $15,000,000.
Maintain as of the end of any fiscal quarter during which Total Excess Availability (calculated using the average Total Excess Availability for each day during such fiscal quarter) is less than $40,000,000, a Fixed Charge Coverage Ratio of not less than 1:1.
The Total Excess Availability as of the Closing Date shall be no less than 15.0% of the Line Cap.
If for any period of four consecutive fiscal quarters ending on or after March 31, 2005, the Interest Coverage Ratio calculated as of the end of such four-quarter period is less than 2:00 to 1:00, then an Event of Termination shall occur under this Section 4.02 if there shall be a period of five consecutive Business Days ending at any time during the immediately following fiscal quarter during which Total Excess Availability is less than $100,000,000.
More Definitions of Total Excess Availability
Total Excess Availability means an amount equal to (a) the lesser of (i) the Commitments and (ii) the Available Borrowing Base as then determined and computed, minus (b) the then outstanding principal amount of the Loans.
Total Excess Availability shall have the meaning given to such term in the Congress Loan Agreements;
Total Excess Availability means an amount equal to (a) the lesser of (i) the Commitments and (ii) the Available Borrowing Base as then determined and computed, minus (b) the then outstanding principal amount of the Loans. “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Xxxx-Xxxxx Xxxx Street Reform and Consumer Protection Act and the regulations promulgated thereunder. “UCP 600” means the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce and in effect as of July 1, 2007 (or such later version thereof as may be in effect at the time of issuance). “Unfunded Vested Liabilities” means, with respect to any Plan at any time, the amount (if any) by which the present value of all vested nonforfeitable accrued benefits under such Plan exceeds the fair market value of all Plan assets allocable to such benefits, all determined as of the then most recent valuation date for such Plan, but only to the extent that such excess represents a potential liability of a member of the Controlled Group to the PBGC or the Plan under Title IV of ERISA. “Uniform Commercial Code” is defined in the Company Security Agreement. “Unrestricted Subsidiary” means any Subsidiary that is not a Restricted Subsidiary. "Voting Stock” means Securities, or other equity interests, of any class or classes, the holders of which are ordinarily, in the absence of contingencies, entitled to elect a majority of the corporate directors (or Persons performing similar functions).
Total Excess Availability means, at any time, the sum of (i) Receivables Excess Availability plus (ii) ABF Excess Availability at such time. Total Excess Availability shall be determined, on a pro forma basis, based on the borrowing base certificate delivered pursuant to Section 4.02(m) of the ABF Agreement and the first monthly Seller Report delivered pursuant to Section 3.2(a)(i), to the extent required to be determined in respect of days prior to the Closing Date.
Total Excess Availability means at any time, the aggregate of the UK Excess Availability, the US Excess Availability and the Canadian Excess Availability at such time.
Total Excess Availability means the amount, as determined by Agent, calculated at any date, equal to: (a) the lesser of (i) the U.S. Borrowing Base plus the Canadian Borrowing Base and (ii) the Maximum Credit, minus (b) the sum of: (i) the Aggregate Outstandings (but not including for this purpose any Collateralized Letter of Credit Obligations), plus (ii) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of any Borrower that are outstanding more than thirty (30) days past due as of the end of the immediately preceding month or at Agent’s option, as of a more recent date based on such reports as Agent may from time to time specify (other than trade payables or other obligations being contested or disputed by such Borrower in good faith), plus (iii) without duplication, the amount of checks issued by such Borrower to pay trade payables and other obligations that are more than thirty (30) days past due as of the end of the immediately preceding month or at Agent’s option, as of a more recent date based on such reports as Agent may from time to time specify (other than trade payables or other obligations being contested or disputed by such Borrower in good faith), but not yet sent. For purposes of determining Total Excess Availability on any day, (a) the daily amount of the items in clause (a)(i) above shall be determined based on the Borrowing Base Certificate then in effect and (b) the daily amount of the items in clauses (b)(ii) and (iii) above shall be determined based on the most recently delivered monthly financial statements.
Total Excess Availability means, at any time, the sum of (i) Excess Availability plus (ii) SF Excess Availability, in each case at such time. Total Excess Availability shall be determined on a pro forma basis, based on the Borrowing Base Certificate delivered pursuant to Section 4.02(m) and the first monthly “Seller Report” delivered pursuant to Section 3.2(a)(i) of the RPA Agreement, to the extent required to be determined in respect of days prior to the Effective Date.