Examples of Quarterly Average Excess Availability in a sentence

The Base Rate loans bear interest at a Base Rate plus an applicable margin of (x) 1.00% if the Quarterly Average Excess Availability exceeds$100,000,000 or (y) 1.25% if the Quarterly Average Excess Availability is $100,000,000 or less.
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 Quarterly Average Excess Availability for the immediately preceding three (3) month period commencing on the first day of the month of such period.
The LIBOR loans bear interest at LIBOR plus an applicable margin of (a) 2.00% if the Quarterly Average Excess Availability (as defined in the Credit Agreement) exceeds $100,000,000 or (b) 2.25% if the Quarterly Average Excess Availability is equal to or less than $100,000,000.
Applicable Margin” shall mean, with respect to Base Rate Loans and Eurodollar Rate Loans, the applicable percentage (on a per annum basis) set forth below based on the Quarterly Average Excess Availability for the immediately preceding calendar quarter.
The applicable margin is tied to the Company’s Quarterly Average Excess Availability (as defined in the Senior Secured 2010 Credit Facility) and ranges from 2.00% to 2.50% for Base Rate loans and 3.50% to 4.00% for Eurodollar Rate loans.

More Definitions of Quarterly Average Excess Availability

Quarterly Average Excess Availability means, for any Fiscal Quarter, the average for such Fiscal Quarter of the daily amounts determined as of 5:00 p.m. (New York City time) for each day during such Fiscal Quarter expressed as a percentage equivalent to a fraction (a) the numerator of which is the Excess Availability at such time and (b) the denominator of which is the Maximum Credit in effect at such time.

Quarterly Average Excess Availability means, for any three (3) month period commencing on the first day of the month of such period, the daily average of the Excess Availability for such period.

Quarterly Average Excess Availability means, at any time, the average of the aggregate amount of the Excess Availability for the immediately preceding fiscal quarter based on the books and records of Lender reported to Borrowers.

Quarterly Average Excess Availability means, at any time, the average of the amount of the Excess Availability for the immediately preceding fiscal quarter as calculated by Lender in good faith based on the amount of the Excess Availability on the date in each week during such fiscal quarter as of which the Borrowing Base is calculated in the reports provided by Borrower to Lender pursuant to Section 6.1(a) hereof.

Quarterly Average Excess Availability means, at any time, the average of the Excess Availability for each day of the immediately preceding calendar quarter as calculated by the Agent (which shall be conclusive absent manifest error).

Quarterly Average Excess Availability means, at any time, the sum of the aggregate amount of Excess Availability for each Business Day for the immediately preceding three-month period (calculated as of the end of each respective Business Day) divided by the number of Business Days in such three-month period, commencing on the first Business Day of such three-month period.

Quarterly Average Excess Availability means, for any fiscal quarter of Borrowers, the daily average of the aggregate amount of the Excess Availability for such fiscal quarter; provided, that, for purposes of this definition Excess Availability shall be calculated without regard to the Maximum Credit.