Examples of Adjusted Excess Availability in a sentence
After giving effect to all Loans to be made and all Letters of Credit to be issued on the Closing Date, Adjusted Excess Availability, after deduction for the amount of all costs, fees and expenses (including Lender Group Expenses) associated with the closing of the transactions contemplated hereby which have accrued, but which have not been paid by or on the Closing Date (either from the proceeds of the Loans or otherwise), shall exceed $45,000,000.
As defined in the First Lien Credit Agreement except that any reference therein to Excess Availability shall mean and refer to Adjusted Excess Availability.
Following the initial Credit Extensions on the Effective Date, Adjusted Excess Availability shall not be less than $24,000,000.
With respect to any other Cash Dominion Event, the Excess Availability (or, if in effect, Adjusted Excess Availability) is greater than the greater of (i) fifteen percent (15%) of the lesser of (A) the Aggregate Borrowing Base and (B) the Total Commitment and (ii) $65,000,000 for a period of sixty (60) consecutive days.
Each reference to the term “Adjusted Excess Availability” in the Loan Agreement and the other Financing Agreements is hereby amended so that the amount of Adjusted Excess Availability shall be determined with regard to the Adjusted Inventory Loan Limit in lieu of the Inventory Loan Limit.