Canadian Borrowing Availability definition

Canadian Borrowing Availability means as of any date of determination the lesser of (i) the Canadian Sub-Limit or (ii) the Dollar Equivalent of the Canadian Borrowing Base, in each case, less the sum of (a) the Dollar Equivalent of the Canadian Revolving Loan then outstanding, and (b) the amount of the U.S. Revolving Loan outstanding in excess of $480,000,000.
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Canadian Borrowing Availability means, as of any date of determination, the remainder of (a) the lesser of (i) the Canadian Maximum Amount at such time and (ii) the Canadian Borrowing Base at such time minus (b) the Aggregate Canadian Exposure at such time.
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Canadian Borrowing Availability means as of any date of determination as to all Canadian Borrowers, the lesser of (a) the Maximum Canadian Amount and (b) the Canadian Borrowing Base, in each case, less the sum of the aggregate Canadian Revolving Credit Advances and Canadian Swing Line Loan then outstanding to Canadian Borrowers; provided that for purposes of assuring that the aggregate amount of the Canadian Revolving Loan and the US Revolving Loan do not at any time exceed the aggregate Maximum Canadian Amount and the aggregate Maximum US Amount, under this definition the Canadian Borrowing Base, the Canadian Revolving Loan and the Canadian Swing Line Advances shall be computed in the Dollar Equivalent Amount thereof.
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Examples of Canadian Borrowing Availability in a sentence

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

  • If Canadian Borrowing Availability is less than zero after repayment in full of the aggregate outstanding Canadian Revolving Credit Advances, Canadian Borrowers shall provide cash collateral for the Canadian Letter of Credit Obligations in the manner set forth in Annex B to the extent required to cause Canadian Borrowing Availability to be at least zero.

  • If at any time the Canadian Borrowing Availability is less than zero, Canadian Borrowers shall immediately repay the aggregate outstanding Revolving Credit Advances to the extent required to cause Canadian Borrowing Availability to be at least zero.

  • US Company shall, no later than 60 days after the end of each fiscal year of US Company, deliver to Administrative Agent Projections of US Company and each of its Subsidiaries for the forthcoming fiscal year, month by month (including, but not limited to, projected balance sheets, income statements, statements of cash flows and Total Borrowing Availability, US Borrowing Availability, UK Borrowing Availability, Canadian Borrowing Availability and calculations of projected covenant compliance.

  • Canadian Revolving Credit Advances may be borrowed, repaid and reborrowed from time to time until the Canadian Commitment Termination Date; provided, that any Canadian Revolving Credit Advance to be made at any time shall not exceed Canadian Borrowing Availability at such time.

  • Canadian Borrowing Availability may be further reduced by Reserves imposed by Canadian Agent in its reasonable credit judgment acting in good faith and without double-counting for Reserves already taken into account in determining Canadian Borrowing Availability.

  • Until the Commitment Termination Date and subject to the terms and conditions hereof, Canadian Borrower may from time to time borrow, repay and reborrow under this Section 1.1(a)-2: provided that the Dollar Equivalent of any Canadian Revolving Credit Advance to be made at any time shall not exceed Canadian Borrowing Availability at such time.

  • For purposes of computing interest and Fees and determining US Borrowing Availability and Canadian 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 applicable Collection Account prior to 2:00 p.m. New York time.

  • US Company shall, no later than 60 days after the end of each fiscal year of US Company, deliver to Administrative Agent Projections of US Company and each of its Subsidiaries for the forthcoming three (3) fiscal years, month by month (including, but not limited to, projected balance sheets, income statements, statements of cash flows and Total Borrowing Availability, US Borrowing Availability, UK Borrowing Availability, Canadian Borrowing Availability and calculations of projected covenant compliance.


More Definitions of Canadian Borrowing Availability

Canadian Borrowing Availability means “Borrowing Availability” under and as defined in the Canadian Loan Agreement.
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