Canadian Borrowing Availability definition

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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Canadian Borrowing Availability means “Borrowing Availability” under and as defined in the Canadian Loan Agreement.
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Examples of Canadian Borrowing Availability in a sentence

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Related to Canadian Borrowing Availability

  • 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 aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Canadian Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Canadian Revolving Commitments at such time and (ii) the Canadian Borrowing Base at such time, minus (b) Commitment Reserves established with respect to the Canadian Loan Parties and/or the Canadian Collateral at such time minus (c) the Aggregate Canadian Credit Exposure at such time.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Borrowing Limit has the meaning set forth in Section 1.1(a)(i).

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.

  • Swing Line Availability has the meaning ascribed to it in Section 1.1(c)(i).

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Revolver Usage means, as of any date of determination, the sum of (a) the amount of outstanding Advances, plus (b) the amount of the Letter of Credit Usage.

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.