Average Excess Availability definition
Average Excess Availability means, with respect to any period, the sum of the aggregate amount of Excess Availability for each Business Day in such period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such period.
Average Excess Availability means, for any period, an amount equal to the sum of the amount of Excess Availability on each day during such period, as determined by the Administrative Agent, divided by the number of days in such period.
Average Excess Availability means, for any period, Excess Availability for each day of such period, divided by the number of days in such period.
Examples of Average Excess Availability in a sentence
Each Borrowing Base Certificate shall set forth a categorical breakdown of all Accounts of the Credit Parties and calculations of Eligible Accounts and Eligible Credit Card Receivables as of the last day of such quarter (or month or week), the amount of Inventory and the amount of Eligible Inventory owned by the Credit Parties, the Fair Market Value of all Eligible Real Estate included in the Borrowing Base, and the Average Excess Availability for such quarter (or for such month or week).
More Definitions of Average Excess Availability
Average Excess Availability means the average daily Excess Availability for the immediately preceding Fiscal Quarter.
Average Excess Availability means, with respect to any period of time, the average daily Excess Availability during such period of time.
Average Excess Availability means, for any fiscal quarter, the sum of Excess Availability for each day of such fiscal quarter, divided by the actual number of days in such fiscal quarter.
Average Excess Availability means, (i) at any Adjustment Date, the average daily Excess Availability for the fiscal quarter immediately preceding such Adjustment Date or (ii) on any date that is not an Adjustment Date, the Average Excess Availability on the immediately preceding Adjustment Date.
Average Excess Availability means, as of the end of each calendar quarter, the daily average amount (calculated for such calendar quarter) of Excess Availability.
Average Excess Availability means, at any Adjustment Date, the average daily Excess Availability for the calendar quarter immediately preceding such Adjustment Date.
Average Excess Availability means, as of any date of determination, the average daily Excess Availability for the immediately preceding Fiscal Quarter. The Administrative Agent shall provide the Lead Borrower with a calculation of Average Excess Availability on the fourth Business Day of each Fiscal Quarter for the immediately preceding Fiscal Quarter upon request of the Lead Borrower, or alternatively, give the Lead Borrower electronic access to the Administrative Agent’s systems to the extent necessary to provide such information.