Availability Criteria definition
Examples of Availability Criteria in a sentence
The Availability Criteria that are the subject of this Schedule are referenced in sections 5.12, 5.13, 5.14, 5.17, 5.18 and 5.19 of the DBFM Agreement.
When the Independent Certifier, having regard to any items noted by the Province in accordance with the process contemplated in the last sentence of Section 5.13 and all remedial action, if any, taken by the Contractor in response thereto, is satisfied that such School has satisfied the Availability Criteria, the Independent Certifier shall promptly issue to the Contractor and to the Province a certificate certifying that School Availability has been achieved (“Certificate of School Availability”).
When the Contractor anticipates that this School will satisfy the Availability Criteria, the Contractor shall again engage the process set out in Sections 5.13 and 5.14, with the exception that the time periods contemplated in Section 5.13 shall in each case be reduced to three Business Days.
Each HWRC shall satisfy the HWRC Availability Criteria set out below.
The Availability Criteria that are the subject of this Schedule are referenced in sections 5.12, 5.13, 5.14, 5.17, and 5.18 of the DBFO Agreement.
For purposes of this clause (i), “Availability” shall mean at any time the lesser of (i) the amount by which the Revolving Commitments exceed the aggregate principal amount of all outstanding Revolving Loans and Letter of Credit Liabilities at such time and (ii) the maximum aggregate amount of additional Revolving Loans and Letter of Credit Liabilities that could be incurred at such time such that after giving effect thereto the Maximum Loan Availability Criteria would be satisfied at such time.
For the avoidance of doubt, the Net Operating Income of a Property owned by a Subsidiary that is not already a Guarantor shall not be included in any calculation of Maximum Loan Availability Criteria unless and until such Subsidiary executes and delivers to the Administrative Agent an Accession Agreement to the Guaranty (or Guaranty, as applicable) and the other items required to be delivered under the immediately following subsection (c).
The Facility shall continue throughout the Contract to meet all of the Availability Criteria in order to qualify for payment throughout the Contract.
If after the Effective Date the Parent desires that the Lenders include any additional Property in calculations of the Maximum Loan Availability Criteria, the Parent shall so notify the Administrative Agent in writing.
Each Property included in the calculation of the Maximum Loan Availability Criteria satisfies all requirements under the Loan Documents for being an Eligible Property.