Real Estate Availability definition

Real Estate Availability means at the date of determination, the lesser of (i) $350,000 and (ii) sixty percent (60%) of seventy percent (70%) of the fair market value of the Real Estate less the outstanding balance of prior Liens on the Real Estate.

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Real Estate Availability means the lesser of (a) eighty percent (80%) multiplied by the aggregate fair market value of the Eligible Real Properties as reasonably determined by Agent in consultation with Borrower Representative and (b) $2,000,000; provided that, (x) until such time as the Agent shall have received from the applicable Credit Party a Mortgage and each of the other Real Property Collateral Requirements and/or (y) upon the occurrence of a Permitted Real Estate Financing or any other incurrence of a Lien (other than Permitted Liens of the types described in clauses (c), (f) and (i) of the definition thereof) in respect of either of the Eligible Real Properties, in each case, the Real Estate Availability shall be $0. Exhibit 10.71

Real Estate Availability means the aggregate amount, calculated on the Amendment No. 1 Effective Date and on the first (1st) day of each Fiscal Quarter thereafter, equal to the Real Estate Availability Appraised Value of Eligible Real Estate multiplied by the Real Estate Advance Rate.”

Examples of Real Estate Availability in a sentence

Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the Revolver Commitment; or (b) the sum of the Accounts Formula Amount, plus the Inventory Formula Amount, plus the Cash Formula Amount, plus, the Additional Real Estate Availability Amount, minus the Availability Reserve.
For the avoidance of doubt, the Eligible Real Estate Availability Adjustment Amount shall never be greater than Special Availability and shall be zero at any time there is no Special Availability included in the calculation of the Borrowing Base.
Total Ineligible Real Estate $ Total Eligible Real Estate (Real Estate less Total Ineligible Real Estate) $ Advance Rate % Real Estate Availability $ Borrowing Base Exhibit 4.9(e)(v) This Certificate is given by Capitol Drilling Supplies, Inc.
Eligible Real Estate Availability Adjustment Amount: (a) if the Eligible Real Estate Formula Amount is greater than $25,000,000, then the amount of such excess equal to Special Availability, if any, and (b) otherwise, zero.
Total Ineligible Real Estate $___________ Total Eligible Real Estate (Real Estate less Total Ineligible Real Estate) $___________ Advance Rate ___________% Real Estate Availability $___________ Borrowing Base ___________ EXHIBIT 4.9(l) COMPLIANCE CERTIFICATE PENHALL INTERNATIONAL CORP., PENHALL COMPANY, PENHALL LEASING LLC, AND ▇▇▇ ▇▇▇▇ COMPANY DATE: __________, _____ This Certificate is given by PENHALL INTERNATIONAL CORP., PENHALL COMPANY, PENHALL LEASING, L.L.C., AND ▇▇▇ ▇▇▇▇ CO., INC.

More Definitions of Real Estate Availability

Real Estate Availability set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

Real Estate Availability means up to the lesser of (a) seventy percent (70%) of the fair market value of the Eligible Real Estate or (b)

Real Estate Availability means, as of the date hereof, the amount of $6,500,000, and commencing with the month immediately following the date hereof, such amount shall be reduced each month by an amount equal to $108,334 per month.

Real Estate Availability means the 25% of the FLV of Eligible Leasehold Real Estate.

Real Estate Availability means, at any time, the amount equal to the lesser of eighty percent (80%) of (a) the Appraised Value of the Eligible Real Estate as such Appraised Value is identified in the most recent Acceptable Appraisal of the Eligible Real Estate at such time or (b) $9,992,802.

Real Estate Availability means the amounts available to be borrowed under clause (c) of the definition of Borrowing Base (after giving effect to the proviso in such definition).

Real Estate Availability means up to the lesser of (a) seventy percent (70%) of the fair market value of the Eligible Real Estate or (b) $2,000,000 less $8,333.33 per month commencing thirty (30) days after the effective date of the Third Agreement of Amendment to Loan and Security Agreement (“Third Amendment”) subject to the deposit by Guarantor of cash Collateral into the Collateral Account of the Borrower subject to the security interest of Lender, free and clear of any other security interests including that of Guarantor, in an amount equal to twice the increase in Availability from the definition prior to the date of the Third Amendment; such deposit to be treated #9274988.1 3 4127326-3 4127326-3 as an equity investment from Guarantor to Borrower subject to the terms of the Subordination Agreement.”