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, with respect to any period, the sum of the aggregate amount of Excess Availability for each day in such period (as calculated by Agent as of the end of each respective day) divided by the number of days in such period.
Average Excess Availability means, on any date of determination, the amount of Excess Availability during a stipulated consecutive Business Day period, calendar day period or fiscal quarter period divided by the number of Business Days or calendar days, as the case may be, in such period.

Examples of Average Excess Availability in a sentence

  • Upon the occurrence of an Event of Default and for so long as such Event of Default continues in existence, the Applicable Margin may, at the option of the Administrative Agent, be immediately increased to the percentages set forth in Level II (even if the Average Excess Availability requirements for another Level have been met) and interest shall be determined in the manner set forth in Section 2.12(f).

  • Less than 50% of the Borrowing Base 2.25% 1.25%The Applicable Margin shall be set on the Closing Date based upon the Average Excess Availability for the three (3) months immediately preceding the Closing Date.

  • Such percentages shall be increased or decreased, as the case may be, to the applicable percentage (on a per annum basis) set forth below based on the Quarterly Average Excess Availability for the immediately preceding three (3) month period commencing on the first day of the month of such period.

  • The Base Rate loans bear interest at a Base Rate plus an applicable margin of (x) 1.00% if the Quarterly Average Excess Availability exceeds$100,000,000 or (y) 1.25% if the Quarterly Average Excess Availability is $100,000,000 or less.

  • In addition, for purposes of this Section 7.10, “pro forma” shall mean that compliance with the Thirty Day Average Excess Availability test referred to immediately above shall be determined giving effect to the making of such Distributions as if it occurred on the first day of such thirty (30) day period.


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, at any Adjustment Date, the average daily Excess Availability for the fiscal quarter immediately preceding such Adjustment Date.
Average Excess Availability means, for any period, Excess Availability for each day of such period, divided by the number of 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, (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. For any period, the sum of Excess Availability for each day comprising such period divided by the number of days in such period.
Average Excess Availability means, as of the end of each calendar quarter, the daily average amount (calculated for such calendar quarter) of Excess Availability.