Availability Conditions definition

Availability Conditions means and be deemed satisfied only if:

Availability Conditions means that, with respect to any Proposed Transaction, each of the following conditions are satisfied, as applicable:

Availability Conditions means, as of any date of determination, that (a) Excess Availability is on such date and has been on each day during the preceding ninety (90) day period no less than the greater of (x) 15% of the Maximum Revolver Amount as of such date and (y) $11,250,000 and (b) no Event of Default has occurred and is continuing.

Examples of Availability Conditions in a sentence

• The Availability Conditions on the proposed date of such Credit Extension shall be satisfied.

• Above certification will also include that the Quality of Service and Service Availability Conditions are acceptable.

• Limited source of Funds The ability of the Issuer to meet its obligations to pay principal and interest on the Notes and its operating and administrative expenses will be dependent solely on receipts from the Loans in the Portfolio, interest earned on the Issuer Accounts and the availability of the Liquidity Reserve Fund (applied in accordance with the terms of the Cash Management Agreement and subject to the satisfaction of the relevant Liquidity Availability Conditions).

• This risk is addressed in respect of the Rated Notes by the provision of liquidity from alternative sources (including the use of amounts credited to the Liquidity Reserve Fund to cover any Revenue Deficit and the use of Principal Addition Amounts (each of which is subject to the satisfaction of the Liquidity Availability Conditions)), as more fully described in the section entitled "Credit Structure – Liquidity and Credit Support for the Notes provided by Available Revenue Receipts".

• OTHER FACTORS, Physical, Mobility, Availability, Conditions, etc.

More Definitions of Availability Conditions

Availability Conditions means, at the time of determination with respect to any specified transaction or payment, that (a) no Default then exists or would arise as a result of entering into such transaction or the making such payment, and (b) after giving effect to such transaction or payment, the Pro Forma Availability Condition has been satisfied. Prior to undertaking any transaction or payment which is subject to the Availability Conditions, a Responsible Officer of the Borrower shall have delivered a certificate to the Administrative Agent, together with supporting documentation (including a budget and projections for such twelve month period), which is reasonably satisfactory to the Administrative Agent, reflecting compliance with the foregoing.

Availability Conditions shall be deemed satisfied only if, as of the relevant date of determination:

Availability Conditions means, and will be satisfied with respect to any particular Borrowing as to which the satisfaction of the Availability Conditions is being determined if, as of the applicable date of such Borrowing (a) the Aggregate Exposure does not exceed the Line Cap as of such date, (b) with respect to any incurrence of US Exposure, the US Exposure does not exceed the US Borrowing Base as of such date and (c) with respect to any incurrence of German Exposure, the German Exposure does not exceed the German Sublimit as of such date, in each case, subject to the provisions hereof with respect to Permitted Overadvances and Permitted Overadvance Loans.

Availability Conditions means that, with respect to any proposed transaction, each of the following conditions are satisfied: (i) both immediately prior to and after giving effect to such transaction, no Default shall have occurred and be continuing, (ii) the average Excess Availability shall have been equal to or greater than $150 million (or, in the case of any such transactions under Section 6.08 and Section 6.11(a)(i), $180 million for the preceding 30 day period (based on the Borrowing Base Certificate last delivered or delivered at the time of such action) and Excess Availability shall be at least $150 million (or, in the case of any such transactions under Section 6.08 and Section 6.11(a)(i), $180 million after giving effect to such transaction and (iii) in the case of any such transactions under Section 6.08, Section 6.11(a)(i) and Section 6.11(b)(i), the Consolidated Fixed Charge Coverage Ratio, calculated on a pro forma basis to give effect to such transaction shall be at least 1.00 to 1.00.

Availability Conditions means, at any time of determination in respect of any Acquisition pursuant to Section 7.4(d), that, on a pro forma basis after giving effect to such Acquisition, either (a) Excess Availability, tested for the 180 days immediately preceding the date of such Acquisition, on the date of such Acquisition, and for the 180 days immediately following such Acquisition, shall not be less than the greater of 20% of the Aggregate Revolving Commitments and $54,000,000 or (b) both (i) Excess Availability, tested for the 180 days immediately preceding the date of such Acquisition, on the date of such Acquisition, and for the 180 days immediately following such Acquisition, shall not be less than the greater of 15% of the Aggregate Revolving Commitments and $40,500,000 and (ii) the Fixed Charge Coverage Ratio, tested as of the end of the Fiscal Month ending most recently before the date of such Acquisition for which financial statements are required to have been delivered in accordance with Section 5.1, shall be at least 1.00 to 1.00.

Availability Conditions has the meaning given to it in the section headed “Principal terms of the Receiver’s Borrowings Facility Agreement – Availability conditions”;

Availability Conditions as used herein shall mean the following on a collective basis: