Borrowing Availability definition

Borrowing Availability means as of any date of determination the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the Revolving Loan and Swing Line Loan then outstanding.
Borrowing Availability shall have the meaning assigned to it in Section 1.1(a)(i).
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.

Examples of Borrowing Availability in a sentence

  • 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 2:00 p.m. New York time.

  • Revolving Credit Advances may be repaid and reborrowed; provided, that the amount of any Revolving Credit Advance to be made at any time shall not exceed Borrowing Availability.

  • Borrowing Availability may be reduced by Reserves imposed by Agent in its reasonable credit judgment.

  • Borrowing Availability may be further reduced by Reserves imposed by Agent in its reasonable credit judgment.

  • For purposes of determining the Borrowing Availability, payments shall be deemed received by Lender upon receipt of immediately available funds in the Collection Account.


More Definitions of Borrowing Availability

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 means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan then outstanding (including, without duplication, the outstanding balance of Letter of Credit Obligations), and (ii) the Swing Line Loan then outstanding.
Borrowing Availability means at any time the lesser of (a) the Borrowing Base at such time and (b) the aggregate amount of the LendersRevolving Commitments at such time, in each case, less the aggregate Revolving Exposure of all Lenders at such time.
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 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.
Borrowing Availability shall have the meaning assigned to it in SECTION 1.1(a)(i).
Borrowing Availability means, at any time, the lesser of (a) the Maximum Amount, or (b) the Borrowing Base Availability.