Available Headroom definition
Available Headroom means, at any relevant time:
Available Headroom it will ensure that, at all times during the Invoice Discounting Facility, the Available Headroom is a minimum amount of (pound)2,500,000 (two million five hundred thousand pounds Sterling) and to the extent that the Available Headroom falls below such amount and to the extent that loans ("Intra Group Loans") to the Initial Client (but excluding for this purpose the Subordinated Loan which shall not be counted towards calculation of the Available Headroom) are less than (pound)2,500,000, will procure that the Holding Company will lend to the Initial Client such sums (on an interest free and unsecured basis so as to increase the amount of the Intra Group Loans up to a maximum amount of (pound)2,500,000) as will result in the Available Headroom being restored to the amount referred to above. If the opinion of LND, (after the increase of such Intra Group Loans) the Available Headroom is still less than (pound)2,500,000 it will take all steps open to it to create the circumstances to permit that the Holding Company will lend to the Initial Client such additional sums (on an interest free and unsecured basis) up to an additional maximum amount of (pound)2,500,000 (Two million five hundred thousand Pounds Sterling) subject to the Holding Company obtaining all required approvals from MTT (as agent) and NWB PROVIDED THAT the Holding Company's obligations to inject such funds by way of loan under this Clause 12.2.20 can never exceed the principal amount of (pound)5,000,000 (Five million Pounds Sterling)
Available Headroom. Subject to the provisions of clauses 12.2.20(A), 12.2.20(B) and 12.2.20 (C) below" The Discounting Agreement shall be further amended by the addition of new clauses 12.2.20(A), 12.2.20(B) and 12.2.20 (C) as follows:-
Examples of Available Headroom in a sentence
No Utilisation may be made if the Available Headroom would, as a result, be less than the Minimum Available Headroom.
Available liquidity The Group has the following undrawn overdrah and loan facilities: Facility Drawn amount at 30 March 2022 €'000 Total of Facility €'000 Available Headroom €'000 Revolving credit facility - 125,000 125,000 Bank overdrah 16,425 40,000 23,575 Total 16,425 165,000 148,575 The Company and certain subsidiary companies have entered into a ‘’Cashpool Agreement’’ with their principal bankers.
More Definitions of Available Headroom
Available Headroom means the aggregate amount, at any time, of:- (i) the Available Amount; and (ii) the Revolving Facility Available Amount (as such term is defined in the NWB Agreement); and (iii) any cash deposits held by the Client at LND; and (iv) the loans to be made by the Holding Company to the Initial Client as referred to in Clause 12.2.20; "Base Rate" means NWB's base rate from time to time; "Borrowed Money" means, in relation to the Initial Client (or the Holding Company or any of its Subsidiaries, as the context may require), any obligation for the payment or repayment of money (whether as principal or as surety and whether present or future, actual or contingent) incurred in respect of the following (but without double counting): (a) the principal amount of money borrowed or raised, (b) any bond, note, loan stock, debenture or similar instrument, (c) acceptance credit, documentary credit, ▇▇▇▇ discounting, factoring or note or purchase facilities, (d) deferred payments for assets or services acquired (other than on normal trade credit terms) where payment is due more than 4 months after the date of the acquisition of the goods or services in question, (e) rental payments under leases (whether in respect of land, machinery, equipment or otherwise) which are defined as Finance Leases but excluding rental payments under a lease of property which would not be treated as a Finance Lease; (f) counter indemnity obligations in respect of guarantees, bonds, standby letters of credit, or other instruments issued in connection with the performance of contracts by banks or other financial institutions, (g) payments under any hire, hire purchase, conditional, sale or instalment sale and purchase agreements but, for the avoidance of doubt, excluding any obligations lease; (h) guarantees or other assurances against financial loss in respect of indebtedness of any person falling within any of (a) to (g) above; (i) any interest swap or currency swap agreement or any other hedging or derivatives instrument or agreement; and (j) any other transaction having substantially the same commercial effect as any of the above; "Business Day" means a day (other than a Saturday or Sunday) on which banks and foreign exchange markets are open for business in: (a) London; and (b) in relation to a transaction involving an Approved Currency, in the principal financial centre of that Approved Currency; "Capital Expenditure" means expenditure incurred (or as the case may be) to be incurred by the C...