Common use of Temporary Increase Clause in Contracts

Temporary Increase. If the date of determination is during the period from and including August 15, 2007 to and including October 31, 2007, $25,000,000; provided, however, that: (i) if the Borrower delivers a Borrowing Base Certificate at any time after October 1, 2007 which shows that the Borrowing Availability, as calculated in accordance with such Borrowing Base Certificate, is equal to or greater than $25,000,000 but calculating the Borrowing Base on a pro forma basis without giving effect to this clause (f), then effective as of the date of the delivery of such Borrowing Base Certificate, the Borrower may, by written notice to the Administrative Agent, exclude the amount available under this clause (f) from the Borrowing Base; and (ii) this clause (f) shall be included when determining the Borrowing Base for all purposes under this Agreement, including when determining Borrowing Availability, Average Borrowing Base Capacity and the Borrowing Base;

Appears in 1 contract

Sources: Credit Agreement (Elizabeth Arden Inc)

Temporary Increase. If the date of determination is during the period from and including August 15, 2007 to and including October 31, 2007, $25,000,000; provided, however, that: (i) if the Borrower delivers a Borrowing Base Certificate at any time after October 1, 2007 which shows that the Borrowing Availability, as calculated in accordance with such Borrowing Base Certificate, is equal to or greater than $25,000,000 but calculating the Borrowing Base on a pro forma basis without giving effect to this clause (f), then effective as of the date of the delivery of such Borrowing Base Certificate, the Borrower may, by written notice to the Administrative Agent, exclude the amount available under this clause (f) from the Borrowing Base; and (ii) this clause (f) shall be included when determining the Borrowing Base for all purposes under this Agreement, including when determining Borrowing Availability, Average Borrowing Base Capacity and the Borrowing Base;; plus

Appears in 1 contract

Sources: Credit Agreement