Borrowing Availability definition

Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

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Borrowing Availability means, at any time, the lesser of (i) the Maximum Amount or (ii) the Borrowing Base, in each case less reserves established by Lender from time to time.

Borrowing Availability shall have the meaning assigned to it in Section 1.1(a)(i).

Examples of Borrowing Availability in a sentence

• Notwithstanding anything to the contrary in this Section 2.3(b), Agent may, in its discretion, at any time hereafter upon written notice to Borrowers, elect to discontinue the automatic sweeping of funds from the Collection Account to the Disbursement Account, including if Borrowing Availability is less than five precent (5.00%) of the lesser of (x) the Revolving Loan Commitments and (y) the Borrowing Base.

• At any time that there is sufficient Borrowing Availability and the conditions precedent set forth in Section 8.2 have been satisfied, Agent may request the Lenders to make a Revolving Credit Advance to repay a Protective Advance.

• For purposes of computing interest and Fees and determining Borrowing Availability as of any date, all payments shall be deemed received on the Business Day on which immediately available funds therefor are received in the Collection Account prior to noon Indianapolis, Indiana time.

More Definitions of Borrowing Availability

Borrowing Availability means as of any date of determination (a) as to all Borrowers, the lesser of (i) the Maximum Amount and (ii) the Aggregate Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding, or (b) as to an individual Borrower, the lesser of (i) the Maximum Amount less the sum of the Revolving Loan and Swing Line Loan outstanding to all other Borrowers and (ii) that Borrower's separate Borrowing Base, less the sum of the Revolving Loan and Swing Line Loan outstanding to that Borrower; provided that an Overadvance in accordance with Section 1.1(a)(iii) may cause the Revolving Loan and the Swing Line Loan to exceed the Aggregate Borrowing Base or a Borrower's separate Borrowing Base by the amount of such permitted Overadvance.

Borrowing Availability means, as of any date of determination, (i) the lesser of (x) the Total Commitment and (y) the Borrowing Base minus (ii) the Aggregate Exposure.

Borrowing Availability means:

Borrowing Availability means, at any time, the amount by which the Aggregate Revolving Commitment Amount exceeds the sum of the outstanding Revolving Loans, Swingline Loans and LC Exposure.

Borrowing Availability means, as of any date of determination, an amount equal to the lesser of (a) the Aggregate Revolving Commitments as of such date and (b) the result of (i) Combined Eligible Availability as of such date minus (ii) Consolidated Net Indebtedness as of such date (excluding the Outstanding Amount of Loans and L/C Obligations and any outstanding Indebtedness permitted by Section 7.03(j)).

Borrowing Availability means, as of any date of determination, Availability at such time, minus the aggregate Revolving Exposure at such time.

Borrowing Availability shall have the meaning assigned to it in SECTION 1.1(a)(i).