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).
Appears in 4 contracts
Sources: Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.)
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).
Appears in 4 contracts
Sources: Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.), Loan and Security Agreement (Rubicon Technologies, Inc.)
Minimum Excess Availability. The Loan Parties shall not permit Excess Availability at any time to be less than the greater of of
(a) $4,000,000 and 10.0% of the Loan Cap or (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)5,000,000.
Appears in 1 contract
Sources: Credit Agreement (Cato Corp)