CREDIT FACILITY AVAILABILITY definition

CREDIT FACILITY AVAILABILITY. The Credit Facility can be advanced by way of any combination of the following Availments: • overdraft borrowings in Cdn. Dollars; • banker’s acceptances in Cdn. Dollars, in minimum aggregate amounts of Cdn. $2,500,000 for each drawdown, rollover or conversion and in minimum incremental amounts of Cdn. $500,000 thereafter; • direct borrowings in Cdn. Dollars and/or U.S. Dollars • LIBOR borrowings in U.S. Dollars, in minimum aggregate amounts of U.S. $2,500,000 for each drawdown, rollover or conversion and in minimum incremental amounts of U.S. $500,000 thereafter; and • letters of credit, letters of guarantee, cheque credits and corporate visa (collectively the “Sundry Options”).
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CREDIT FACILITY AVAILABILITY means, as at any time of determination thereof, the amount (if any) by which (a) the aggregate amount of additional loans and letters of credit that are then available to Cone ▇▇▇▇▇ and its Subsidiaries under the Credit Facility (such amount being equal to the lesser of (x) the borrowing base available at such time under the Credit Facility or (y) the aggregate commitments of the Credit Facility Lenders at such time to make loans or issue letters of credit under the Credit Facility to or for the account of Cone ▇▇▇▇▇ and its Subsidiaries) exceed (b) the sum of (i) the aggregate outstanding principal balance at such time of all such loans plus (ii) the aggregate outstanding reimbursement obligations at such time of Cone ▇▇▇▇▇ and its Subsidiaries with respect to all such letters of credit, plus (iii) the aggregate undrawn amount at such time of all such letters of credit outstanding at such time; provided that the Credit Facility Availability shall be zero dollars at any time when the Credit Facility Lenders are not obligated to make any such loans or issue any such letters of credit.
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CREDIT FACILITY AVAILABILITY. (Schedule Section 2.1.B.), but shall not exceed the Amount of the Tranche "A" Credit Facility (Schedule Section 2.1.A.).
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Examples of CREDIT FACILITY AVAILABILITY in a sentence

  • CREDIT FACILITY AVAILABILITY: The Credit Facility can be advanced by way of any combination of the following Availments: • overdraft borrowings in Cdn.

Related to CREDIT FACILITY AVAILABILITY

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

  • 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.

  • 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.