Minimum Availability. The Credit Parties shall have at all times Excess Availability (without giving effect to any outstanding obligations referenced in clause (b) of the definition of Obligations) equal to the greater of (i) 12.5% of the then current weekly Borrowing Base and (ii) $6,000,000.
Appears in 3 contracts
Samples: Loan, Guaranty and Security Agreement (Gordmans Stores, Inc.), Loan, Guaranty and Security Agreement (Gordmans Stores, Inc.), Loan, Guaranty and Security Agreement (Gordmans Stores, Inc.)
Minimum Availability. The Credit Parties shall have at all times Excess Availability (without giving effect to any outstanding obligations referenced in clause (b) of the definition of Obligations) equal to the greater of (i) 12.5% of the then current weekly Borrowing Base and (ii) $6,000,000; provided, during a Seasonal Borrowing Period, the Credit Parties shall have Excess Availability (without giving effect to any outstanding obligations referenced in clause (b) of the definition of Obligations) equal to the greater of (i) 15% of the Loan Cap and (ii) $8,000,000.
Appears in 1 contract
Samples: Loan, Guaranty and Security Agreement (Gordmans Stores, Inc.)
Minimum Availability. The Credit Parties shall have at all times Excess Availability (without giving effect to any outstanding obligations referenced in clause (b) of the definition of Obligations) equal to the greater of (i) 12.5at least 10.0% of the then current weekly Borrowing Base and (ii) $6,000,000Base.
Appears in 1 contract
Samples: Loan, Guaranty and Security Agreement (Gordmans Stores, Inc.)
Minimum Availability. The Credit Parties shall have at all times Excess Availability (without giving effect to any outstanding obligations referenced in clause (b) of the definition of Obligations) equal to the greater of (i) 12.5at least 10.0% of the then current weekly Borrowing Base and (ii) $6,000,000Base.β
Appears in 1 contract
Samples: Loan, Guaranty and Security Agreement (Gordmans Stores, Inc.)
Minimum Availability. The Credit Parties shall have at all times Excess Availability (without giving effect to any outstanding obligations referenced in clause (b) of the definition of Obligations) equal to or greater than the sum of (a) the greater of (i) 12.510% of the then current weekly Borrowing Base and (ii) $6,000,0001,500,000 plus (b) at all times during any fiscal year for which Borrower and Agent have failed to agree to reset the maximum amount of Capital Expenditures permitted by Section 7.16 for such fiscal year, $500,000.β
Appears in 1 contract
Samples: Loan Agreement and Waiver (Design Within Reach Inc)
