Aggregate Excess Availability Sample Clauses

Aggregate Excess Availability. As of any date of determination, Excess Availability under and as defined in the Revolving Credit Agreement, based upon the most recent Borrowing Base Certificate received by the Revolving Credit Agent prior to the funding of loans or advances by a Revolving Credit Secured Party or the issuance, renewal or amendment of a Letter of Credit by an applicable Issuing Bank.
Sample 1
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Aggregate Excess Availability. At any time of determination, (a) at any time when any Last Out Revolving Loans are outstanding, (i) the lesser of (A) the Last Out Borrowing Base at such time, or (B) the Total Commitment, plus the Total Last Out Revolving Commitment at such time, minus (ii) the Total Facility Usage at such time; and (b) at all other times, the Excess Availability at such time; provided that, in any case, Aggregate Excess Availability for the purposes of determining the Applicable Margin shall be calculated on a quarterly basis as set forth in the definition of Applicable Margin Applicable Margin. For each period commencing on an Adjustment Date through the date immediately preceding the next Adjustment Date (each a "Rate Adjustment Period"), the Applicable Margin shall be the applicable margin set forth below with respect to the arithmetic mean of the daily Aggregate Excess Availability as determined for the Fiscal Quarter of BGI and its Subsidiaries ended immediately prior to the applicable Rate Adjustment Period. STANDBY DOCUMENTARY BASE EUROCURRENCY LETTER OF LETTER OF AGGREGATE RATE RATE CREDIT CREDIT LEVEL EXCESS AVAILABILITY LOANS LOANS FEES FEES ----- ------------------- ----- ------------ --------- ----------- I Greater than or equal to 0% 1.00% 1.00% 0.500% $350,000,000 II Greater than or equal to 0% 1.25% 1.25% 0.625% $150,000,000 but less than $350,000,000 III Less than $150,000,000 0% 1.50% 1.50% 0.750% Notwithstanding the foregoing, if the Borrowers fail to deliver any Compliance Certificate pursuant to Section 8.4(c) hereof then, for the period commencing on the next Adjustment Date to occur subsequent to such failure through the date immediately following the date on which such Compliance Certificate is delivered, the Applicable Margin shall be the Applicable Margin set forth in Level III above.
Sample 1

Related to Aggregate Excess Availability

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from July 25, 2016 through and including August 29, 2016, $10,000,000, (ii) as of any date of determination during the period from August 30, 2016 through and including September 6, 2016, $13,000,000, (ii) as of any date of determination during the period from September 7, 2016 through and including October 2, 2016, $17,500,000, and (iii) as of any date of determination during the period from October 3, 2016 through and including December 31, 2016, $20,000,000.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Funding Availability This Contract is at all times subject to state appropriations. The Department makes no express or implied representation or guarantee of continued or future funding under this Contract. The Department has, as of the date of the execution of this Contract, obtained all requisite approvals and authority to enter into and perform its obligations under this Contract, including, without limitation, the obligation to make the initial payment or payments required to be made under this Contract on the date or dates upon which such initial payment or payments may otherwise be disbursed during the current contract period, (i.e., Sept ember 1, 2015, through August 31, 2017). The Grantee acknowledges the Department’s authority to make such payments is contingent upon the Texas Legislature's appropriation to the Department of sufficient funds and the availability of funds to the Department for such purpose. If the State of Texas or the federal government terminates its appropriation through the Department or fails to pay the full amount of the allocation for the operation of any grant or reimbursement program hereunder , or the funds are otherwise unavailable, the Department may immediately and without penalty reduce payments or terminate this Contract, in whole or in part. Upon termination of the Contract or reduction of payments, the Grantee shall return to the Department any unexpended funds already disbursed to the Grantee. Neither the Department nor the State of Texas shall incur liability for damages or any loss that may be caused or associated with such termination or reduction of payments. The Department shall not be required to give prior notice for termination or reduction of payments.

  • Maximum Leverage Ratio As of the last day of each fiscal quarter, the Borrower shall not permit the ratio (the "Leverage Ratio") of (i) Consolidated Funded Indebtedness to (ii) EBITDA of the Borrower and its Subsidiaries, as at the end of and for the period of four consecutive fiscal quarters ending on such day, to be greater than (i) 2.00 to 1.00.

  • Minimum Current Ratio Permit the Current Ratio at the end of any fiscal quarter to be less than 1.00 to 1.00.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Minimum Interest Coverage Ratio The Borrowers shall not permit the Interest Coverage Ratio, calculated as of the end of each fiscal quarter for the four fiscal quarters then ended, to be less than 3.50 to 1.00.

  • Maximum Total Leverage Ratio Permit the Total Leverage Ratio of Borrower on a Consolidated Basis, measured for each period of four consecutive fiscal quarters, on the last day of each fiscal quarter (each a “Measurement Date”), to be greater than the ratio set forth below for the corresponding period at any time: Period Ratio Closing Date through September 30, 2017 5.00:1.00 December 31, 2017 through March 31, 2018 4.75:1.00 June 30, 2018 through September 30, 2018 4.50:1.00 December 31, 2018 through March 31, 2019 4.25:1.00 June 30, 2019 and thereafter 4.00:1.00

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