Availability Block Sample Clauses

Availability Block. The definition of “Availability Block” set forth in Schedule 1.1 of the Credit Agreement is hereby replaced with the following:
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Availability Block. A new defined term “Availability Block” is hereby inserted in proper alphabetical order to read as follows:
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Availability Block. The definition of “Availability Block” as set forth in the Loan Agreement is hereby amended and restated in its entirety as follows:
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Availability Block. ABL Representative shall impose and maintain the Availability Block at all times; provided, however, that nothing herein shall limit or otherwise restrict the ability of the ABL Representative and the other ABL Secured Parties from making Protective Advances in compliance with clause (a)(ii)(B) of the definition of ABL Debt Cap.
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Availability Block. (Section 2.01, etc.): Not Applicable
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Availability Block. As a condition to Lenders' agreement to enter into this Amendment and to make additional Supplemental Term Loans on and subject to the terms and conditions contained herein, the parties hereto have agreed that, effective as of the Amendment No. 3 Effective Date, (a) Agent shall establish a permanent borrowing availability block of $10,000,000, and (b) the Inventory Loan Limit shall be reduced to $30,000,000 and shall be thereafter increased to $40,000,000 on such date as the Supplemental Term Loan has been paid in full. In order to effectuate the foregoing, the definition of Borrowing Base and of Inventory Loan Limit set forth in Sections 1.15 and 1.78 of the Loan Agreement, respectively, are each hereby amended and restated in their entirety to read as follows:
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Availability Block. The Borrower shall maintain Availability at a minimum amount of $1,000,000; and
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Availability Block. (a) Notwithstanding anything to the contrary set forth in the Credit Agreement, at all times, Availability shall be reduced by the amount of the Availability Block.
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Availability Block. (i) The definition of the term “Availability Block” as set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows:
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Related to Availability Block

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from June 24, 2016 through and including July 7, 2016, $10,000,000, (ii) as of any date of determination during the period from July 8, 2016 through and including September 29, 2016, $17,500,000, and (iii) as of any date of during the period from September 30, 2016 through and including December 31, 2016, $20,000,000.

  • Maximum Credit Patheon's liability for Active Materials calculated in accordance with this Section 2.2 for any Product in a Year will not exceed, in the aggregate, the Maximum Credit Value set forth in Schedule D to a Product Agreement.

  • Closing Availability After giving effect to all Borrowings to be made on the Effective Date and the issuance of any Letters of Credit on the Effective Date and payment of all fees and expenses due hereunder, and with all of the Loan Parties’ Indebtedness, the Borrowers’ Availability shall not be less than $500,000.

  • Market disruption; non-availability 3.6.1 If and whenever, at any time prior to the commencement of any Interest Period:

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Maximum Letter of Credit Outstandings; Final Maturities (a) Notwithstanding anything to the contrary contained in this Agreement, (i) no Letter of Credit shall be issued the Stated Amount of which, when added to the Letter of Credit Outstandings (exclusive of Unpaid Drawings which are repaid on the date of, and prior to the issuance of, the respective Letter of Credit) at such time would exceed either (x) $100,000,000, (y) when added to the sum of (I) the aggregate principal amount of all Revolving Loans then outstanding and (II) the aggregate principal amount of all Swingline Loans then outstanding, an amount equal to the Total Commitment at such time or (z) cause the Aggregate Exposure to exceed the Borrowing Base at such time (based on the Borrowing Base Certificate last delivered), and (ii) each Letter of Credit shall by its terms terminate (x) in the case of standby Letters of Credit, on or before the earlier of (A) the date which occurs 12 months after the date of the issuance thereof (although any such standby Letter of Credit may be extendible for successive periods of up to 12 months, but, in each case, not beyond the fifth Business Day prior to the Revolving Loan Maturity Date, on terms acceptable to the Issuing Lender) and (B) five Business Days prior to the Revolving Loan Maturity Date; provided that a standby Letter of Credit issued to support obligations under any Specified Existing Ship Lease may terminate by its terms on or prior to the earlier to occur of (1) the date which occurs 24 months after the date of the issuance thereof and (2) the fifth Business Day preceding the Revolving Loan Maturity Date, and (y) in the case of trade Letters of Credit, on or before the earlier of (A) the date which occurs 180 days after the date of issuance thereof and (B) 30 days prior to the Revolving Loan Maturity Date.

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