Average Undrawn Availability definition

Average Undrawn Availability means an amount equal to (a) the sum of Borrowers’ Undrawn Availability for the prior thirty (30) days, divided by (b) thirty (30).

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Average Undrawn Availability means, for any period of determination, the quotient obtained by dividing (a) the sum of Undrawn Availability for each day during the applicable period ending on the day immediately preceding such date of determination, by (b) the number of days in such period.

Average Undrawn Availability means, as of any date of determination, the sum of Undrawn Availability for each of the calendar days in the previous fiscal quarter, divided by the actual number of calendar days in such previous fiscal quarter.

Examples of Average Undrawn Availability in a sentence

• In addition, each Borrower will deliver to Agent at such intervals as Agent may require: (i) confirmatory assignment schedules, (ii) copies of Customer’s invoices, (iii) evidence of shipment or delivery, and (iv) such further schedules, documents and/or information regarding the Collateral as Agent may require including trial balances and test verifications, Average Undrawn Availability Reports, and amounts of Priority Payables.

• In determining whether the Average Undrawn Availability test set forth in this Section 7.5(d) and in Section 7.4(f) has been met, the test will be applied giving consideration to both loans made pursuant to this Section 7.5(d) and investments made pursuant to Section 7.4(f).

• Cause to be maintained as of the last day of each month, Average Undrawn Availability of not less than $1,750,000.

• Upon receipt of the Average Undrawn Availability Certificate by the Agent as of April 30, 2006 and as of the last day of each fiscal month thereafter, the Borrowers’ daily average Undrawn Availability shall be calculated for the fiscal month then ending.

• Cause suffer or permit Fixed Charge Coverage, calculated on a rolling four quarter basis, to become less than 1.0 to 1.0 as at the end of any fiscal quarter commencing with the quarter ending September 30, 2004; provided also, however, that this covenant shall be tested only for any fiscal quarters, in which Average Undrawn Availability for any month is less than Five Million Dollars ($5,000,000.00).

More Definitions of Average Undrawn Availability

Average Undrawn Availability means, as of any date of determination, the average daily Undrawn Availability for the immediately preceding calendar quarter.

Average Undrawn Availability means, for any date of determination, the quotient obtained by dividing (a) the sum of Undrawn Availability for each day during the 30-day period ending on the day immediately preceding such date of determination by (b) thirty (30).

Average Undrawn Availability means, with respect to any quarter, the sum of the aggregate amount of Undrawn Availability for each day for such quarter (calculated as of the end of each respective day) divided by the number of days in such quarter.

Average Undrawn Availability means, as of any date of determination, the average daily Undrawn Availability for the immediately preceding Fiscal Quarter.

Average Undrawn Availability means, as of any date of determination, the quotient obtained by dividing (x) the aggregate sum of Undrawn Availability for each of the previous sixty (60) days by (y) sixty (60).

Average Undrawn Availability for any period shall mean the quotient of (i) the aggregate Undrawn Availability at the end of each Business Day in such period divided by (ii) the number of Business Days in such period.

Average Undrawn Availability means, as of any date of determination, the sum of Undrawn Availability for the Average Undrawn Availability Period ending on such date, divided by the number of days in such Average Undrawn Availability Period.