Common use of Minimum Excess Availability Clause in Contracts

Minimum Excess Availability. The Loan Parties shall not permit Excess Availability at any time to be less than the greater of (a) $4,000,000 and (b) 7.5% of the Borrowing Base (calculated using $0 for the Term Loan Push-Down Reserve regardless of its actual value at the time of determination).

Minimum Excess Availability. The Loan Parties shall not permit Excess Availability at any time to be less than the greater of (ai) $4,000,000 and (bii) 7.5% the lesser of $6,000,000 and eight percent (8%) of the ABL Borrowing Base then in effect (calculated using $0 for the without giving effect to any Term Loan Push-Down Reserve regardless of its actual value at the time of determinationReserve).