Collateral Availability definition

Collateral Availability means, at any time, an amount equal to (i) the Borrowing Base at such time, less (ii) the Total Outstandings at such time.

Collateral Availability means the excess, if any, of the Borrowing Base in effect on the date of determination over the aggregate outstanding principal amount of Revolving Credit Loans.

Collateral Availability means, as of any date of determination thereof, the amount by which (a) the Borrowing Base at such time exceeds (b) the Total Exposure at such time.

Examples of Collateral Availability in a sentence

• Under no circumstances shall the Banks be obligated to make any such purchase if after giving effect to such purchase the aggregate outstanding Capital of Receivable Interests would exceed the lesser of the Purchase Limit and Collateral Availability.

• A Borrowing Base Certificate prepared as of September 5, 1997 or a later date duly executed and delivered by a Financial Officer demonstrating Collateral Availability, after giving effect to the Initial Loans, of not less than $5,000,000, together with such additional evidence of such Availability as the Agent hall require.

• Borrower shall at all times maintain Excess Collateral Availability of no less than an amount equal to the greater of the following (as the case may be, the “Minimum Excess Collateral Availability”): (a) ten percent (10%) of the then-effective Maximum Credit; or (b) $3,000,000.

• Permit Collateral Availability to be less than $2,000,000 at any time.

• Permit Collateral Availability to be less than $500,000 at any time.

More Definitions of Collateral Availability

Collateral Availability means at any time the remainder of (i) the Borrowing Base minus (ii) the sum of (x) the unpaid principal balance of the Loans plus all accrued interest, fees and expenses plus (y) the LC Exposure plus (z) all Availability Reserves and Dilution Reserves.

Collateral Availability means the excess, if any, of the Borrowing Base as in effect on the date of determination, over the aggregate outstanding principal amount of Revolving Credit Loans on the same date.

Collateral Availability. Shall have the same meaning as Availability as defined in Section 2-1(b)(i) except that for the purposes of such calculation the definition of Borrowing Base shall be based upon subsection 2-1(b)(ii)(B) only (i.e. the Loan Ceiling shall be eliminated when making the calculation).

Collateral Availability means at any time an amount equal to (i) 85% of the Net Receivables Pool Balance less (ii) the Insurance Deductible Reserve less (iii) the Foreign Currency Adjustment less (iv) the Availability Block less (v) Availability Reserves, each determined as of the date of the most recent Weekly Report or Daily Report delivered pursuant to Section 6.02(g).

Collateral Availability. “Eligible Inventory”, “Excess Availability”, “Ineligible Inventory”, “SF Excess Availability”, “Total Collateral Availability” or “Total Excess Availability,” or amend, or waive a Default arising under, Section 7.01(o), in each case without the prior written consent of Lenders having aggregate Credit Exposures representing at least 66 2/3% of the sum of all Credit Exposures at such time; provided that any increase in the percentage set forth in clause (i) of the definition of “Available Inventory” to above 70% or any increase in the percentage set forth in clause (ii) of the definition of “Available Inventory” to above 85%, or any amendment of the definition of “Available Inventory” that would have the effect of so increasing either or both of such percentages, shall require the prior written consent of each Lender.

Collateral Availability means (a) the sum of the US Borrowing Base, the Canadian Borrowing Base, cash balances of Borrower in accounts maintained with an Agent and subject to perfected, first priority Liens in favor of an Agent, less (b) Aggregate Revolving Credit Exposures.

Collateral Availability means at any time the remainder of (a) the Borrowing Base minus (b) the sum of (i) the unpaid principal balance of the Loans and all accrued interest, fees and expenses plus (ii) the LC Exposure plus (iii) the Senior Note Reserve.