Current Asset Availability definition

Current Asset Availability means, as of any date of determination, the result of:
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Current Asset Availability means (a) the sum of: (i) eighty-five (85%) percent of the Eligible Accounts, plus (ii) the lesser of (A) the sum of (1) the lesser of (x) fifteen (15%) percent multiplied by the Value of the Eligible Inventory consisting of raw materials or (y) eighty-five (85%) percent of the Net Recovery Percentage multiplied by the Value of such Eligible Inventory consisting of raw materials plus (2) the lesser of (x) sixty (60%) percent multiplied by the Value of the Eligible Inventory consisting of finished goods or (y) eighty-five (85%) percent of the Net Recovery Percentage multiplied by the Value of such Eligible Inventory consisting of finished goods or (B) the Inventory Loan Limit, plus (iii) Qualified Cash, less (b) Reserves less (c) the Availability Block.”
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Current Asset Availability shall have the meaning set forth in the definition of Borrowing Base.
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Examples of Current Asset Availability in a sentence

  • Immediately and without further notice, the Maximum Credit shall be reduced to the Current Asset Availability Loan Limit.

  • Borrower shall pay Agent (for the ratable benefit of the Lenders with a Revolver Commitment), a Letter of Credit fee (in addition to the charges, commissions, fees, and costs set forth in Section 2.11(f)) which shall accrue at a per annum rate equal to the LIBOR Rate Margin applicable to LIBOR Rate Loans predicated on Current Asset Availability times the Daily Balance of the undrawn amount of all outstanding Letters of Credit.


More Definitions of Current Asset Availability

Current Asset Availability means, as of any particular time, (a) the lesser of (i) the Current Asset Commitment and (ii) the Current Asset Borrowing Base, minus (b) Reserves other than Reserves deducted in the calculation of the Current Asset Borrowing Base, minus (c) the aggregate principal amount of all Current Asset Loans then outstanding, minus (d) the Letter of Credit Obligations then outstanding under the Current Asset Commitment.
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Related to Current Asset Availability

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Consolidated Cash Flow Available for Fixed Charges means, with respect to any Person for any period:

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • 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.

  • Current Assets of any Person means all assets of such Person that would, in accordance with GAAP, be classified as current assets of a company conducting a business the same as or similar to that of such Person, after deducting adequate reserves in each case in which a reserve is proper in accordance with GAAP.