Net Borrowing Availability definition

Net Borrowing Availability means at any time the Borrowing Availability less the Revolving Credit Loan.

Net 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 Revolving Loan and Swing Line Loan then outstanding.

Net 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 Revolving Loan then outstanding.

Examples of Net Borrowing Availability in a sentence

• If at any time or for any reason the total of all outstanding Advances and all other monetary Obligations exceeds Net Borrowing Availability (an “Overadvance”), Borrower shall immediately pay the amount of the excess to Bank, without notice or demand.

• For purposes of computing interest and Fees and determining Borrowing Availability or Net Borrowing Availability as of any date, all payments shall be deemed received on the day of receipt of immediately available funds therefor in the Collection Account prior to 2:00 p.m. New York time.

• For purposes of computing interest, Fees and determining Net Borrowing Availability, all payments shall be deemed received by Lender one (1) Business Day following receipt of immediately available funds in the Blocked Accounts.

• For purposes of computing interest and Fees and determining Borrowing Availability or Net Borrowing Availability as of any date, all payments shall be deemed received on the Business Day of receipt of immediately available funds therefor in the Collection Account prior to 11:00 a.m. (California time).

• Prior to the Borrowing Termination Date, Borrower may repay at any time any outstanding Loans and any amounts so repaid may be reborrowed, up to Net Borrowing Availability.

More Definitions of Net Borrowing Availability

Net Borrowing Availability means, as of any date of calculation, the total amount of Revolving Loans available to be borrowed by Borrower in accordance with the terms of this Agreement, excluding any and all outstanding Revolving Loans on such date of calculation.

Net Borrowing Availability has the meaning provided in the Borrowing Base Certificate.

Net Borrowing Availability means, at any time, the lesser of (a) the Maximum Amount and (b) the Borrowing Base, in each case less the aggregate outstanding amount at such time of the Loans.

Net Borrowing Availability is defined in Section 2.1.1 (a).

Net Borrowing Availability means at any time the Borrowing Availability less all outstanding Revolving Credit Loans, plus, for so long as the Borrowers do not have any Loans outstanding (excluding Letter of Credit Obligations which are fully cash collateralized in the manner set forth in Schedule C), unrestricted cash of the Borrowers in which Lender has a first priority perfected security interest. For greater certainty, upon delivery of the first Notice of Borrowing or first request for a Letter of Credit that is not cash collateralized under this Agreement, Net Borrowing Availability shall be recalculated to exclude the unrestricted cash of the Borrowers.

Net Borrowing Availability means, at any time, the amount by which Borrowing Availability exceeds the Borrowing Base Obligations.

Net Borrowing Availability means as of any date of determination, the lesser of (i) the Aggregate Revolving Credit Commitment and (ii) the Borrowing Base, in each case LESS the Revolving Credit Loan then outstanding.