US Excess Availability means, at any time, the difference between (a) the lesser of (i) (A) the U.S. Revolving Credit Facility and (ii) the U.S. Borrowing Base at such time, as determined from the most recent Borrowing Base Certificate delivered by the Borrower Agent to the Administrative Agent pursuant to Section 6.01(f) hereof minus (b) the Total U.S. Revolving Credit Outstandings.
US Excess Availability means the US Dollar Amount, as determined by Agent, calculated at any time, equal to: (a) the lesser of: (i) the Borrowing Base subject to the sublimits and Availability Reserves established by Agent from time to time hereunder and (ii) the US Revolving Maximum Credit (less the Xxxx to Market Exposure of US Borrowers under all their Hedge Agreements) minus (b) the sum of: (i) the US Dollar Amount of all then outstanding and unpaid Revolving Loans and Letter of Credit Accommodations plus (ii) the aggregate amount of (x) all due but unpaid tax obligations as of such time and (y) all trade payables of US Borrowers that are past due for more than 60 days as of such time.
US Excess Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate U.S. Commitments at such time and (ii) the U.S. Borrowing Base at such time, (as determined by reference to the most recent U.S. Borrowing Base Certificate delivered to the Agent pursuant to Section 5.01(h)), minus (b) the aggregate U.S. Revolving Exposures (including the U.S. LC Exposure) of all U.S. Revolving Lenders at such time.
Examples of US Excess Availability in a sentence
Availability: Foreign Excess Availability and/or U.S. Excess Availability, as the context may require.
As of the Business Day immediately preceding the requested issuance date of each Letter of Credit, the Agent shall determine the amount of the Unused Letter of Credit Subfacility, the Multicurrency Unused Letter of Credit Subfacility, the U.S. Unused Letter of Credit Subfacility, the U.S. Excess Availability and the Multicurrency Excess Availability as of such date.
Subject to the provisions of Section 2.3(f)(iii), U.S. Swing Lender shall not make and shall not be obligated to make any U.S. Swing Loan if U.S. Swing Lender has actual knowledge that (i) one or more of the applicable conditions precedent set forth in Section 3 will not be satisfied on the requested Funding Date for the applicable Borrowing, or (ii) the requested Borrowing would exceed the U.S. Excess Availability on such Funding Date.
Foreign Allocated U.S. Availability: U.S. Excess Availability (determined for purposes of this definition without regard to clause (a) of the definition of the U.S. Borrowing Base) designated by U.S. Borrower Agent in a Borrowing Base Certificate or otherwise in accordance with Section 8.1 for application to clause (c) of the Foreign Borrowing Base.
U.S. Excess Availability designated by the U.S. Borrower Agent in a Borrowing Base Certificate or otherwise in accordance with Section 8.1 for application to clause (c) of the Foreign Borrowing Base.
More Definitions of US Excess Availability
US Excess Availability means, at any time, (1) the US Line Cap minus (2) the US Revolving Credit Facility Usage at such time.
US Excess Availability means, at any time, an amount equal to the sum of (a) the lesser of (i) the aggregate total U.S. Revolving Commitments at such time and (ii) the U.S. Borrowing Base at such time (as determined by reference to the most recent Borrowing Base Certificate delivered to the Agent pursuant to Section 5.01(h)), plus (b) all unrestricted cash and cash equivalents of the U.S. Loan Parties at such time (to the extent held in Qualified Accounts), minus (c) the aggregate U.S. Revolving Exposures (including the U.S. LC Exposure) of all U.S. Revolving Lenders at such time. For the avoidance of doubt, borrowing availability under the Tranche B Borrowing Base shall not be included in the calculation of U.S. Excess Availability.
US Excess Availability means the amount, as determined by Agent, calculated at any date, equal to: (a) the lesser of: (i) the US Borrowing Base and (ii) the US Loan Limit (in each case under (i) or (ii) after giving effect to any Reserves other than any Reserves in respect of US Letter of Credit Obligations), minus (b) the sum of: (i) the amount of all then outstanding and unpaid US Obligations (but not including for this purpose US Obligations arising pursuant to any guarantees in favor of Agent and US Lenders of the US Obligations of the other US Borrowers or any outstanding US Letter of Credit Obligations), plus (ii) the amount of all Reserves then established in respect of US Letter of Credit Obligations, plus (iii) the aggregate amount in excess of $315,000 of all then outstanding and unpaid trade payables and other obligations of US Borrowers which are outstanding more than sixty (60) 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 US Borrowers in good faith), plus (iv) without duplication, the amount of checks issued by US Borrowers to pay trade payables and other obligations which are more than sixty (60) 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 US Borrowers in good faith), but not yet sent.
US Excess Availability means, as of any date, the remainder of (a) the US Maximum Available Amount, less (b) the aggregate outstanding balance of the US Lender Indebtedness as of such date.
US Excess Availability means, as of any date of determination, the amount equal to (a) the lesser of (i) the US Borrowing Base and (ii) the US Maximum Credit (in each case after giving effect to any applicable reserves), minus, without duplication, (b) the amount of the US Revolver Usage.
US Excess Availability means, at any time, an amount equal to the sum of (a) the lesser of (i) the aggregate total U.S. Revolving Commitments at such time and (ii) the U.S. Borrowing Base at such time (as determined by reference to the most recent Borrowing Base Certificate delivered to the Agent pursuant to Section 5.01(h)), plus (b) all unrestricted cash and cash equivalents of the U.S. Loan Parties at such time (to the extent held in Qualified Accounts), minus (c) the aggregate U.S. Revolving Exposures (including the U.S. LC Exposure) of all U.S. Revolving Lenders at such time.
US Excess Availability means the amount, as determined by Lender, calculated at any time, equal to: (a) the Borrowing Base, plus (b) Borrowers' unrestricted cash and/or Cash Equivalents that are on deposit in a securities or deposit account subject to a control agreement, in form and substance satisfactory to Lender, minus (c) the book overdraft of Borrowers, minus (d) the sum of: (i) the amount of all then outstanding and unpaid Obligations, plus (ii) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of Borrowers which are more than sixty (60) days past due as of the last day of the immediately preceding fiscal month, and plus (iii) the amount of checks issued by Borrowers to pay trade payables and other obligations which are more than sixty (60) days past due as of such time, but not yet sent (but without duplication of clause (b)(ii)), as of the last day of the immediately preceding fiscal month.