Monthly Average Excess Availability means, at any time, the average of the amount of the Excess Availability for the immediately preceding thirty (30) days as calculated by Agent based on the amount of the Excess Availability on each date during such period.
Monthly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding calendar month.
Monthly Average Excess Availability means, at any time, the daily average of the Excess Availability for the immediately preceding calendar month as calculated by Agent.
Examples of Monthly Average Excess Availability in a sentence
Such percentages shall be increased or decreased, as the case may be, to the applicable percentage (on a per annum basis) set forth below based on the Monthly Average Excess Availability for immediately preceding month.
More Definitions of Monthly Average Excess Availability
Monthly Average Excess Availability has the meaning specified therefor in the definition of Base Rate Margin.
Monthly Average Excess Availability means, for any given month and measured at the end of such month, the monthly average of Company’s daily availability, if any, in excess of the lesser of the Maximum Line Amount or the Borrowing Base limitations set forth in Section 1.2 of the Credit Agreement.
Monthly Average Excess Availability means, at any time, the average of the aggregate amount of Excess Availability for the immediately preceding Fiscal Month as calculated by the Agent. “Moody’s” means Xxxxx’x Investors Service, Inc. and any successor thereto. “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which the Lead Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. “Net Proceeds” means, with respect to any Disposition by any Loan Party or any of its Subsidiaries, or any Extraordinary Receipt received or paid to the account of any Loan Party or any of its Subsidiaries, the excess, if any, of (i) the sum of cash and cash equivalents actually received by any Loan Party in connection with such transaction (including any cash or cash equivalents received by way of deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any Indebtedness that is secured by the applicable asset by a Lien permitted hereunder which is senior to the Agent’s Lien on such asset and that is required to be repaid (or to establish an escrow for the future repayment thereof) in connection with such transaction (other than Indebtedness under the Loan Documents) and (B) the reasonable and customary out-of-pocket expenses incurred by such Loan Party or such Subsidiary in connection with such transaction (including, without limitation, appraisals, and brokerage, legal, title and recording or transfer tax expenses and commissions) paid by any Loan Party to third parties (other than Affiliates)). “Net Recovery Percentage” means the fraction, expressed as a percentage (a) the numerator of which is the amount equal to the recovery on the aggregate amount of the applicable category of Eligible Inventory at such time on a “net orderly liquidation value” basis as set forth in the most recent acceptable inventory appraisal received by Agent in accordance with the requirements of this Agreement, net of operating expenses, liquidation expenses and commissions reasonably anticipated in the disposition of such assets and (b) the denominator of which is the original cost of the aggregate amount of the Eligible Inventory subject to such appraisal. “Non-Consenting Lender” has the meaning provided thereforspecified in Section 10.01. “Non-Defaulting Len...
Monthly Average Excess Availability shall have the meaning set forth in Section 6.3(2).
Monthly Average Excess Availability shall have the meaning given to such term in the Working Capital Loan Agreement as in effect on the date hereof.