Availability Block definition
Examples of Availability Block in a sentence
Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Revolver Commitments, minus the LC Reserve, minus the Availability Block; or (b) the sum of the Accounts Formula Amount, plus the Inventory Formula Amount, minus the Availability Reserve.
Availability: (i) the Borrowing Base minus (ii) the principal balance of all Revolver Loans minus (iii) the Availability Block.
Availability Block: an amount equal to the aggregate amount of Debt and Foreign Bank Product Debt made available to any Foreign Subsidiary (whether or not such Debt is outstanding) by Bank of America, N.A., JPMorgan Chase Bank, N.A. or any of their Affiliates.
Upon giving effect to the Transactions on the Restatement Effective Date as well as any payables stretched beyond their customary payment practices, ABL Availability shall be at least $10,000,000 (after giving effect to the Availability Block).
In addition to the minimum availability requirements set out above, each employee who is enrolled in a secondary school shall be available for Availability Block I on each professional development day that is observed by the secondary school in which the employee is enrolled.