Availability Event definition

Availability Event means the failure of the Borrowers to maintain Availability at least equal to the greater of (a) twelve and one half percent (12.50%) of the Loan Cap or (b) $35,000,000 and such failure shall continue for a period of five (5) or more consecutive Business Days.

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Availability Event has the meaning provided in the definition of Trigger Event.

Availability Event means each period commencing on the date on which Availability shall have been less than the Availability Event Trigger Amount for three consecutive days and ending on the date that Availability has remained greater than the Availability Event Trigger Amount for 60 consecutive days; it being understood and agreed that there shall be no limit to the number of Availability Events that may occur during the Availability Period.

Examples of Availability Event in a sentence

If at any time after Availability is less than the Availability Event Trigger Amount, the Borrowers shall not permit the Fixed Charge Coverage Ratio as of the last day of any fiscal quarter, commencing with the fiscal quarter most recently ended prior to the first date on which Availability was less than the Availability Event Trigger Amount, for the four consecutive fiscal quarter period then most recently ended to be less than 1.00:1.00.
Each Grantor irrevocably authorizes the Collateral Agent to notify each Sub-Agent (i) of the occurrence of an Event of Default or a Reduced Availability Event and (ii) of the matters referred to in this paragraph (d).
USBCDC’s failure to exercise its Investment Fund Put during any Put Exercise Period shall not preclude it from exercising its Investment Fund Put after the occurrence of any subsequent Put Availability Event.
Such notice must contain all the information required by such form and must be sent within 30 days following the end of the calendar month in which the Availability Event occurred for Customer to be eligible to receive a Fee Credit.
Notwithstanding the foregoing, the financial covenant set forth in this Section 6.9(a) will not be tested at any time following the occurrence of the Second Tranche Availability Event.

More Definitions of Availability Event

Availability Event means that the difference between (i) the lesser of (A) the Borrowing Base and (B) the Maximum Amount of the Facility less the aggregate outstanding principal amount of the CapEx Loans and (ii) the aggregate outstanding amount of the Revolving Loans and the Agent Loans, is less than $5,000,000.

Availability Event means each period commencing on the date on which Availability is less than $50,000,000 and ending on the date that Availability has remained greater than $65,000,000 for 90 consecutive days; it being understood and agreed that there shall be no limit to the number of Availability Events that may occur during the Availability Period.

Availability Event has the meaning set forth in Section 17.1.3.

Availability Event the occurrence of any date if, on such date, average daily Availability for the preceding 30-day period was less than (x) if the Guarantee Date has not yet occurred, US$17,000,000, or (y) on and after the Guarantee Date, US$25,000,000; provided that such Availability Event shall be deemed to be continuing until average daily Availability for any 90-day period thereafter (calculated as of any date during such period to reflect average Availability for the preceding 30 days) was no less than (x) if the Guarantee Date has not yet occurred, US$20,000,000, or (y) on and after the Guarantee Date, US$30,000,000.

Availability Event has the meaning set forth in that certain letter agreement dated as of the date hereof between the Lead Borrower and the Administrative Agent.

Availability Event has the meaning given to that term in Clause 0.

Availability Event the occurrence of any date if, on such date the average sum of the daily Suppressed Availability and the daily Availability was less than US$25,000,000 for the preceding 30-day period."