Average Daily Excess Availability definition

Average Daily Excess Availability means the average daily Excess Availability for the immediately preceding Fiscal Quarter.
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Average Daily Excess Availability means, with respect to any fiscal quarter, (a)(i) the sum of Excess Availability for each day during such fiscal quarter, divided by (ii) the number of days in such fiscal quarter, divided by (b)(i) the Aggregate Commitments in effect for each day during such fiscal quarter divided by (ii) the number of days in such fiscal quarter.
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Average Daily Excess Availability means the average daily Availability for the immediately preceding Fiscal Quarter.
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Examples of Average Daily Excess Availability in a sentence

  • For the purposes hereof, "Average Daily Excess Availability" shall mean, as of the date of determination, the average daily excess availability under the Financing Agreement as calculated by Agent in accordance with the terms of the Financing Agreement for the immediately prior 60 calendar days.

  • In no event shall the Commitment Fee Percentage be set at Level I prior to May 1, 2010 (even if the Average Daily Excess Availability requirements for Level I have been met).

  • Prior to the later of (a) March 31, 2021 or (b) the date that Average Daily Excess Availability (as defined in the ABL Credit Agreement) has been equal to at least 25% of the ABL Loan Cap (without giving effect to the Term Loan Reserve) for a period of at least thirty (30) consecutive calendar days, the Borrowers shall not terminate the engagement of the Financial Advisor unless a replacement Financial Advisor has been expressly approved by the Agent in writing in its discretion.

  • Attached hereto as Appendix II are reasonably detailed calculations (a) with respect to the Average Daily Excess Availability for the period ending ________________, and (b) needed to demonstrate compliance with Section 6.11 of the Credit Agreement (whether or not the Borrower’s obligation to comply with such covenant is then in effect).

  • The Applicable Margin for purposes of calculating the initial Letter of Credit Fees will be determined based upon the Borrower’s Excess Availability as of the Closing Date and will be reset quarterly thereafter based upon the Average Daily Excess Availability for the most recently completed calendar quarter.


More Definitions of Average Daily Excess Availability

Average Daily Excess Availability means, for any period, the result of the sum of the Excess Availability as of the end of each day during such period, divided by the number of days in such period.
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Average Daily Excess Availability means, as of any day, the average of the daily Available Facility Amounts for the immediately preceding Fiscal Quarter.
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Average Daily Excess Availability means, as of any date of determination thereof, the average daily Excess Availability for the immediately preceding Fiscal Quarter.
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Average Daily Excess Availability means, for any period, the result of (a) the sum of the aggregate amount by which the Maximum Revolver Amount exceeds the Revolver Usage as of each Business Day during such period (calculated as of the end of each Business Day during such period) divided by (b) the number of Business Days in such period.
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Average Daily Excess Availability means the average daily Excess Availability for the immediately preceding Fiscal Quarter. “Banking Services Agreement” means each and any of the following bank services provided to any Credit Party by any Lender
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Average Daily Excess Availability means, for any period of determination, the average daily Excess Availability during such period of determination.
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Average Daily Excess Availability means, for any calendar month, an amount equal to the average daily Excess Availability during such calendar month.
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