Term Loan Availability definition

Term Loan Availability means, at any time, an amount equal to (a) the Term Loan Borrowing Base minus (b) the outstanding principal amount of the Term Loan.

Term Loan Availability means, as of any time, an amount equal to:

Term Loan Availability means as of any Determination Date, the lesser of (a) the Term Loan Commitments on such date or (b) the Borrowing Base minus the unpaid principal balance of the outstanding Advances as of such date.

Examples of Term Loan Availability in a sentence

• The aggregate unfunded Delayed Draw Term Loan Commitments shall automatically terminate at the expiration of the Delayed Draw Term Loan Availability Period.

• Lender agrees to make a term loan to the Company in a principal amount not to exceed the Term Loan Amount set forth in the Term Note (the “Term Loan”) upon the request of the Company made in accordance with the terms of the Term Note and this Agreement; provided, however, that the Term Loan shall be made in a single advance on or before the Term Loan Availability Expiration Date.

• Such commitment fee shall be payable quarterly in arrears on the last day of each March, June, September, and December in each year (commencing on the first such date occurring after the Closing Date) and on the last day of the Delayed Draw Term Loan Availability Period, unless the Delayed Draw Term Loan Commitments are terminated in whole on an earlier date, in which event the commitment fee for the period to the date of such termination in whole shall be paid on the date of such termination.

• The unfunded Delayed Draw Term Loan Commitments shall automatically terminate at the expiration of the Delayed Draw Term Loan Availability Period.

• Each Lender’s Term Loan Commitment shall (1) be reduced upon the making of a Term Loan Advance by such Lender pursuant to Section 2.01(b), by the amount of such Term Loan Advance and (2) terminate immediately and without further action on the last day of the Term Loan Availability Period.

More Definitions of Term Loan Availability

Term Loan Availability as used in this Agreement means $400,000 minus the sum of the original principal amounts of all Term Loans Silicon has made to Borrower, other than the Mitsui Loan.

Term Loan Availability means, as of any date of determination, the difference of (A) the lesser of: (i) the EBITDA Term Loan Limit or the (ii) Term Loan Amount, minus (B) the outstanding amount of the Term Loan.

Term Loan Availability means, initially, an amount of up to the lesser of (1) 80% of the lower of the cost or the forced liquidation value (as determined by the Lender after deduction of such reserves and allowances as the Lender deems proper and necessary) of the Borrower's hereafter acquired Eligible Equipment or (2) $2,960,000.

Term Loan Availability shall have the meaning given such term is SUPPLEMENT A.

Term Loan Availability means, as of any date, (a) $32,140,113.50, minus (b) without duplication (i) the aggregate amount of: (1) all Term Loan Scheduled Amortization Payments made from the Closing Date through and including such date, and (2) all mandatory prepayments made under Section 5 (except those payments made in accordance with Section 5.2(c)), (3) all voluntary and mandatory prepayments under Section 5.2(c) which will be used as a credit for future Term Loan Scheduled Amortization Payments, whether the payments described in (1), (2) and (3) above are to be applied to repayment of Term Loans, Surety L/C Reimbursement Obligations or to be deposited in the Sinking Fund Collateral Account, (ii) the outstanding principal amount of all Term Loans previously made by the Lenders to the Borrower, and (iii) the Stated Amount of the Surety L/C as of such date. If the result of such calculation is zero or negative, then there shall be no Term Loan Availability as of such date.

Term Loan Availability as used in this Agreement means $400,000 minus the sum of the original principal 17 SILICON VALLEY BANK AMENDMENT TO LOAN AGREEMENT -------------------------------------------------------------------------------- amounts of all Term Loans Silicon has made to Borrower, other than the Mitsui Loan.

Term Loan Availability means up to eighty percent (80%) of the acceptable auction value for existing Acceptable Equipment as determined pursuant to an appraisal acceptable to Lender in its sole discretion.