Available Borrowing Capacity definition

Available Borrowing Capacity means, with respect to any Person, on any date of determination, the total unrestricted borrowing capacity which may be drawn (taking into account required reserves and discounts) upon by such Person or its Subsidiaries, at such Person’s or its Subsidiaries’ sole discretion, under committed credit facilities or repurchase agreements which provide financing to such Person or its Subsidiaries.

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Available Borrowing Capacity means, as of any day, the aggregate committed borrowing capacity which, as of such date of determination, is undrawn and is then available to be drawn by Regional Management under the Senior Revolver.

Available Borrowing Capacity means committed borrowing capacity which may be drawn (taking into account required reserves and discounts) upon or has been drawn upon by PHH Corporation or any of its Subsidiaries under committed Mortgage Warehouse Facilities.

Examples of Available Borrowing Capacity in a sentence

Fail to maintain aggregate Available Borrowing Capacity of at least $1,000,000,000 at all times (excluding uncommitted warehouse capacity provided by Government-Sponsored Enterprises), provided that no more than $500,000,000 of such capacity is in respect of facilities that are exclusively gestation facilities.
FIC, on a consolidated basis, shall at all times have unencumbered cash, Cash Equivalents and Available Borrowing Capacity on unencumbered assets that could be drawn against (taking into account required haircuts) under committed warehouse and repurchase facilities in an amount equal to not less than $20,000,000.
Before and immediately after giving effect to the making of any Revolving Loan (and the application of the proceeds thereof), (i) the sum of the aggregate principal amount of outstanding Revolving Loans shall not exceed the Revolving Committed Amount then in effect, (ii) the Availability shall not be negative and (iii) the aggregate principal amount of outstanding Revolving Loans would not exceed the Available Borrowing Capacity.
At the end of each fiscal quarter of LESCO, LESCO, on a consolidated basis, shall have Available Borrowing Capacity of not less than Ten Million Dollars ($10,000,000); provided that, if for any fiscal quarter, LESCO fails to satisfy the Available Borrowing Capacity requirement, then LESCO shall satisfy the Fixed Charge Covenant Ratio set forth in Paragraph (II) below.
If at any time after the Restatement Date, the sum of the aggregate principal amount of outstanding Revolving Loans shall (1) exceed the Revolving Committed Amount or (2) exceed the Available Borrowing Capacity, the Borrowers shall immediately prepay the Revolving Loans in an amount sufficient to eliminate such excess.

More Definitions of Available Borrowing Capacity

Available Borrowing Capacity means, with respect to any Person, on any date of determination, the total unrestricted, immediately available borrowing capacity which may be drawn (not including required reserves, fees and discounts) upon by such Person without condition (except for customary notice conditions) (and to the extent not otherwise pledged to any other Person) under any unsecured term or revolving credit facilities of such Person (but only to the extent that no default or event of default exists thereunder) which are made available by financial institutions whose short term unsecured debt is rated at least “A-1” by S&P and “P-1” by Moody’s, and has an equivalent or higher rating by each other nationally recognized statistical rating organization that provides a short-term unsecured debt rating to such financial institution, and whose long term unsecured debt is rated at least “A+” by S&P and “A1” by Moody’s and has an equivalent or higher rating by each other nationally recognized statistical ,rating organization that provides a long-term unsecured debt rating to such financial institution.

Available Borrowing Capacity means the excess of the product of Cash Equivalents plus the mortgage loans and other assets eligible for financing under one or more of the Financing Facilities minus margin requirements on purchased assets under any Financing Facility (“Other Purchased Assets”). For avoidance of doubt, Available Borrowing Capacity plus Other Purchased Assets shall not exceed the value of a Financing Facility.

Available Borrowing Capacity means available and unused borrowing capacity which may be drawn upon by the Sellers on a next Business Day basis. Borrowing capacity shall not be deemed part of the Available Borrowing Capacity if any event or circumstance has occurred which would prevent the Sellers from drawing on the borrowing capacity or cause the related lender to have no obligation to make funds available.

Available Borrowing Capacity means, on any date of determination, the total unrestricted borrowing capacity which may be drawn (taking into account required reserves and discounts) upon by the Guarantor and its Subsidiaries under any credit facilities (excluding repurchase agreements and note on note facilities), but with respect to any such credit facility, solely to the extent that such available borrowing capacity is committed by the related lender.

Available Borrowing Capacity. On any date of determination, the total unrestricted borrowing capacity which may be drawn (taking into account required reserves and discounts) upon by the Sponsor and its Subsidiaries under any credit facilities (including repurchase agreements, note on note facilities, or otherwise), but with respect to any such credit facility, solely to the extent that such available borrowing capacity is committed by the related lender.

Available Borrowing Capacity means, with respect to any Person, on any date of determination, the total unrestricted, immediately available borrowing capacity which may be drawn (not including required reserves, fees and discounts) upon by such Person without condition (except for customary notice conditions) (and to the extent not otherwise pledged to any other Person) under any unsecured term or revolving credit facilities of such Person (but only to the extent that no default or event of default exists thereunder) which are made available by financial institutions whose short term unsecured debt is rated at least “A-1” by Standard & Poor’s Ratings Service and “P-1” by ▇▇▇▇▇’▇ Investors Service, Inc., and has an equivalent or higher rating by each other nationally recognized statistical rating organization that provides a short-term unsecured debt rating to such financial institution, and whose long term unsecured debt is rated at least “A+” by Standard & Poor’s Ratings Service and “A1” by ▇▇▇▇▇’▇ Investors Service, Inc. and has an equivalent or higher rating by each other nationally recognized statistical rating organization that provides a long-term unsecured debt rating to such financial institution.

Available Borrowing Capacity mean with respect to any Person, committed, available and unused borrowing capacity which may be drawn upon by such Person on credit facilities (including a subscription line). Borrowing capacity shall not be deemed part of the Available Borrowing Capacity if any event or circumstance has occurred which would prevent such Person from drawing on the borrowing capacity or cause the related lender to have no obligation to make funds available.