Unused Availability definition

Unused Availability means, at any time of determination, an amount equal to (a) the lesser of (i) the Aggregate Commitment and (ii) the Borrowing Base, minus (b) the Facility Usage.

Unused Availability means (to the extent that the Borrower is permitted to borrow such amounts under the terms of this Agreement including, without limitation, Section 6.02 hereof) at any time, an amount equal to (a) the Aggregate Elected Commitment Amounts minus (b) the Aggregate Revolving Credit Exposure (calculated, with respect to any Defaulting Lender, as if such Defaulting Lender had funded its Applicable Percentage of all outstanding Borrowings).

Unused Availability means, at any time, the Borrowing Base minus the Aggregate Revolver Outstandings.

Examples of Unused Availability in a sentence

• The Loan Parties shall not permit Unused Availability at any time to be less than $10,000,000.

• The Loan Parties acknowledge and agree that if an Event of Default described in Section 0 or 0 shall occur, such Event of Default may not then be cured by the Loan Parties subsequently increasing Unused Availability (above amounts required under such Sections) and such Event of Default shall be deemed to be continuing unless affirmatively waived by the Required Banks.

• A ratio of current assets to current liabilities on any date of at least 1.0 to 1.0 (for purposes of this calculation, current assets will include an amount equal to the Unused Availability).

• Upon the written request of the Agent during such time as the Borrowers have Unused Availability of less than $25,000,000, the Borrowers shall promptly advise National City, and XX Xxxxxx to enter into a Wire Transfer Agreement in the form attached as Exhibit 1.1(W) hereof, the terms of which shall remain in effect until such time as the Borrowers have Unused Availability equal to or greater than $25,000,000.

• The aggregate amount of all Revolving Loans (other than Revolving Loans made pursuant to Section 2.1 l (b)) in any Borrowing must be greater than or equal to (a) in the case of Eurodollar Loans, $1,000,000 or any higher integral multiple of $100,000, (b) in the case of Base Rate Loans, $500,000 or any higher integral multiple of $100,000, or (c) must equal the remaining Unused Availability.

More Definitions of Unused Availability

Unused Availability means, as of any date, the amount (if any) by which the Maximum Revolving Loan Amount exceeds the Revolving Loan.

Unused Availability means, at any time, (a) the lesser of (x) the Revolving Credit Commitment and (y) the Borrowing Base minus (b) the sum of all then outstanding Revolving Credit Loans.

Unused Availability means at any time, an amount equal to the Available Commitment in effect at that time, minus the Utilized Credit.

Unused Availability means an amount equal to the difference between the Borrowing Base and (a) outstanding Loans plus (b) outstanding Letter of Credit Liabilities.

Unused Availability has the meaning provided in the First Lien Credit Agreement.

Unused Availability means, at any time of determination, the excess of (x) the lesser of the Borrowing Base or the Line of Credit over (y) the sum of the unpaid principal amount of the Loans outstanding, Pending Borrowings and the Letter of Credit Obligations.

Unused Availability means, at any time, an amount equal to the excess, if any, of (a) the aggregate amount of the Commitments of all Lenders at such time over (b) the sum of the aggregate Revolving Credit Exposures of all Lenders at such time.