Equipment Availability means, (i) from the date hereof until a new Equipment Appraisal is received by Co-Collateral Agents after the Closing Date, an amount equal to the lesser of (a) one hundred percent (100%) of the Net Book Value of Eligible Equipment as set forth in the most current Equipment Appraisal received by Co-Collateral Agents and (b) eighty-five percent (85%) of the Net Orderly Liquidation Value of Eligible Equipment as set forth in the most current Equipment Appraisal received by Co-Collateral Agents, and (ii) after the Co-Collateral Agents’ receipt of the first new Equipment Appraisal after the Closing Date, eighty-five (85%) percent of the Net Orderly Liquidation Value of Eligible Equipment as set forth in the then-most current Equipment Appraisal received by Co-Collateral Agents; provided, however, that (a) a purchase (not yet reflected in an Equipment Appraisal) of Eligible Equipment shall result in an increase in such Net Orderly Liquidation Value of Eligible Equipment in an amount equal to the sum of the actual invoice price paid (excluding taxes, delivery fees and any other fees and charges paid), for such purchased Eligible Equipment (which invoice price may be paid in part by the trade-in of existing Eligible Equipment for new Eligible Equipment, in which case such existing Eligible Equipment shall no longer be included in the Borrowing Base and such new Eligible Equipment shall be included in the Borrowing Base), (b) a disposition (not yet reflected in an Equipment Appraisal) of Eligible Equipment shall result in a decrease in such Net Orderly Liquidation Value of Eligible Equipment in an amount equal to such Eligible Equipment’s contribution to Net Orderly Liquidation Value of Eligible Equipment immediately prior to its disposition, (c) such Net Orderly Liquidation Value of Eligible Equipment shall be reduced by one percent (1%) on the last day of each fiscal quarter until a more current Equipment Appraisal is received by Co-Collateral Agents, and (d) for the avoidance of doubt, a subsequent Equipment Appraisal (adjusted for purchases and dispositions as provided for, respectively, in clause (a) and clause (b) of this definition) shall not result in an increase in the Net Orderly Liquidation Value of Eligible Equipment as calculated in accordance with clauses (a), (b) and (c) of this definition immediately preceding the receipt of the subsequent Equipment Appraisal.
Equipment Availability means the amount of Revolving Credit Advances against Eligible Equipment Lender may from time to time make available to Borrowers up to seventy percent (70%) of the appraised net forced liquidation value as determined by an appraiser acceptable to Lender of Borrowers’ Eligible Equipment.
Equipment Availability means the amount of Revolving Credit Advances against Eligible Equipment Lender may from time to time make available to Borrower up to seventy percent (70%) of the appraised forced liquidation value of $584,850 (as of April 1, 2017) which was determined by an appraiser acceptable to Lender of Borrower’s Eligible Equipment, which amount shall be reduced in equal monthly installments over a 36 month period commencing April 1, 2017.”
Examples of Equipment Availability in a sentence
Impacts:Impacts on ambient noise level during operation phase would be due to noise from the DG sets which will operate only during power failure and due to running of pumps.
TSA modified the language in § 1554.1 to eliminate the reference to ‘‘U.S. government’’ and inserted ‘‘a U.S. or foreign government military installation’’ in its place to respond to questions raised in some comments.
In the event the Modified Pooled OMC Equipment Availability Factor is less than 97% (the "Modified Pooled OMC Equipment Availability Factor Performance Metric") for any LD Period, Seller shall be subject to liquidated damages as set forth in this Section 2.5(b) (Modified Pooled OMC Equipment Availability Factor Performance Metric and Liquidated Damages).
A deration or outage required by Company pursuant to the preceding sentence shall be considered “unplanned” and, until the conditions that led to the deration or outage are resolved by Seller and Seller notifies Company of the same, any such deration shall “count against” Seller for purposes of calculating the Performance Index and any such outage shall “count against” Seller for the purpose of calculating the Modified Pooled OMC Equipment Availability Factor.
For each LD Period, a Modified Pooled OMC Equipment Availability Factor shall be calculated as provided in accordance with Section 1 (Modified Pooled OMC Equipment Availability Factor (“MPXEEAF”)) of Attachment Q (Calculation of Certain Metrics) to this Agreement.
More Definitions of Equipment Availability
Equipment Availability means, collectively, the US Equipment Availability and the Canadian Equipment Availability.
Equipment Availability means the amount of such Revolving Credit Advances against Eligible Equipment as set forth on the attached Schedule VI, and the amount of such future Revolving Credit Advances against Eligible Equipment as may be added to Schedule VI from time to time in Lender’s sole and absolute discretion, based upon seventy percent (70%) of the appraised forced liquidation value of such Eligible Equipment, as determined by an appraiser then acceptable to Lender, each of which amounts shall be reduced in equal monthly installments as set forth on Schedule VI, as such schedule may be amended by the Lender from time to time.
Equipment Availability means $10,000,000; provided, that, effective on the first day of the month immediately after the date hereof and continuing on the first day of each consecutive month thereafter, the Equipment Availability shall be reduced by the amount equal to $277,777.
Equipment Availability means (a) prior to the date on which the Equipment Availability Conditions have been satisfied, zero (0), and (b) from and after the date on which the Equipment Availability Conditions have been satisfied as reasonably determined by Agent, the amount equal to eighty five (85%) percent of the net liquidation value of the Eligible Equipment as set forth in the most recent acceptable appraisal of such Equipment received by Agent in accordance with the terms hereof (net of liquidation expenses, costs and commissions): provided, that, the Equipment Availability shall be reduced on the first day of each calendar quarter, commencing with the first full calendar quarter following the date on which the Equipment Availability Conditions have been satisfied, by an amount equal to the initial Equipment Availability Calculated in accordance with this clause (b) divided by twenty (20).
Equipment Availability means $6,800,000; as reduced effective as of the first day of each month commencing November 1, 2008 by an amount equal to $200,000.
Equipment Availability means the lesser of (a) $14,750,000 and (b) 70% of the Net Orderly Liquidation Value of the Eligible Equipment as reduced as provided below. Equipment Availability shall be reduced as of the first day of each calendar quarter commencing July 1, 2020 (whether or not Equipment Availability is included in the Borrowing Base on the Amendment No. 3 Effective Date) by $1,000,000. Equipment Availability may be included in the Borrowing Base on the Amendment No. 3 Effective Date or thereafter subject to the satisfaction of the conditions set forth below. Equipment Availability will be included in the Borrowing Base if on the Amendment No. 3 Effective Date the following conditions are met: the Agent has received (i) appraisals with respect to the Equipment as provided below for purposes of determining the Net Orderly Liquidation Value of such Equipment, and (ii) perfected first priority security interests and liens on the Equipment of Borrower and Designated Guarantors in favor of the Agent for the benefit of the Secured Parties (subject only to the Permitted Collateral Liens). In addition, the amount of Equipment Availability may be further permanently reduced to the extent that any appraisal of Equipment conducted by the Agent after the Amendment No. 3 Effective Date would result in a lower amount of Equipment Availability pursuant to the formula used by the Agent to calculate Equipment Availability on the Amendment No. 3 Effective Date, and subject to the sale or other disposition of any Eligible Equipment as permitted hereunder.
Equipment Availability means the lesser of (a) $5,000,000 and (b) eighty-five (85%) percent of the net forced liquidation value of Eligible Equipment, in each case reduced on the first day of each calendar month commencing September 1, 2008, by one thirty-sixth (1/36th) of such lesser amount.”