Availability Condition definition

Availability Condition means, with respect to a Functional Unit, that the Functional Unit, Maintained Equipment within the Functional Unit and normal access routes are in a state or condition that:

Availability Condition has the meaning set out in Schedule 8 [Payments];

Availability Condition means at the time of determination with respect to any specified transaction or payment, Domestic Availability immediately preceding, and on a pro forma basis on the date thereof and a projected basis for the twelve (12) months immediately following, such transaction or payment was, and is projected to be, equal to or greater than the greater of (a) thirty percent (30%) of the Total Loan Cap and (b) $45,000,000.

Examples of Availability Condition in a sentence

• Subject to satisfaction of the conditions precedent set forth in Section 3 hereof and solely with respect to the Dominion Trigger Period in effect as of the date hereof, the Lender hereby waives the Availability Condition and any obligations of the Loan Parties or any of their Subsidiaries that resulted solely from such Dominion Trigger Period.

• RP Pro Forma Adjusted Availability Condition: for any date of calculation with respect to any transaction or payment, the Pro Forma Adjusted Availability following, and after giving effect to, such transaction or payment, will be equal to or greater than $75,000,000.

• Notwithstanding the foregoing, in the case of Investments permitted by clauses (xii) above, no such Investment may be made by any Loan Party unless, after giving effect thereto, the Availability Condition is satisfied.

• Pro Forma Availability Condition: for any date of calculation with respect to any transaction or payment, the Pro Forma Availability following, and after giving effect to, such transaction or payment, will be equal to or greater than $10,000,000.

• At any time that the Aggregate Availability of Borrowers is less than the Financial Covenant Availability Condition, SEI, Borrowers and their Subsidiaries shall maintain a Consolidated Fixed Charge Coverage Ratio of not less than 1.00 to 1.00 as of the immediately preceding fiscal month end for which financial statements have been (or were required to be) delivered hereunder and as of each subsequent fiscal month.

More Definitions of Availability Condition

Availability Condition means (i) that the Participation Assets are freely transferable by the holder thereof and not subject to any transfer or disposition restrictions of any kind whatsoever, including under any applicable insider trading policy, contractual restriction, securities laws or other Encumbrances and (ii) the Participation Assets, when delivered to the Participant, are freely tradeable such that they can be immediately sold by the Participant without the necessity of any U.S. Federal or state registration, consent, approval or filing and shall be exempt from registration under the

Availability Condition means (a) in the case of determining whether a Dominion Period is in effect, the greater of (i) $96,250,000 and (ii) 17.5% of the Total Commitment as then in effect, and (b) in the case of determining whether a Compliance Period is in effect, the greater of (i) $82,500,000 and (ii) 15% of the Total Commitment as then in effect.

Availability Condition means (i) that the Participation Assets are freely transferable by the holder thereof and not subject to any transfer or disposition restrictions of any kind whatsoever, including under any applicable xxxxxxx xxxxxxx policy, contractual restriction, securities laws or other Encumbrances and (ii) the Participation Assets, when delivered to the Participant, are freely tradeable such that they can be immediately sold by the Participant without the necessity of any U.S. Federal or state registration, consent, approval or filing and shall be exempt from registration under the U.S. Securities Act of 1933, as amended;

Availability Condition. At the time of determination with respect to any specified transaction or payment that is subject to satisfaction of the Payment Conditions, Excess Availability at the time of such determination and immediately following, and after giving effect to, such transaction or payment was, and is projected by the Loan Parties on a pro forma basis for each of the twelve (12) Fiscal months immediately following such transaction or payment to be, equal to or greater than twenty percent (20%) of the Loan Cap.

Availability Condition means, at the time of determination with respect to any specified transaction or payment, Availability at the time of such determination and immediately following, and after giving effect to, such transaction or payment was, and is projected by the Borrowers on a Pro Forma Basis for each of the seven (7) Fiscal Periods immediately following such transaction or payment to be, equal to or greater than fifteen percent (15%) of the Loan Cap. In the case of any transaction pursuant to which the assets (or the assets of the Person) acquired in such transaction are to be included in the Borrowing Base, Availability shall be determined after giving effect to the inclusion of such assets, provided that the Administrative Agent has (a) completed or received an appraisal of the assets (or the assets of the Person) to be acquired in such transaction from appraisers reasonably satisfactory to the Collateral Agent, (b) established in its Permitted Discretion an advance rate and Reserves (if applicable) therefor, and (c) otherwise agreed in its Permitted Discretion that such assets are eligible for inclusion in the Borrowing Base.

Availability Condition means (a) at the time of determination with respect to any Acquisition, Availability for the three months immediately preceding, and on a pro forma basis for the six months immediately following, and after giving effect to, such Acquisition was, and is projected to be, equal to or greater than an amount equal to twenty percent (20%) of the Aggregate Commitments, and (b) at the time of determination with respect to any other

Availability Condition means at the time of determination with respect to any specified transaction or payment, Availability for the three months immediately preceding, and on a pro forma basis for the six months immediately following, and after giving effect to, such transaction or payment was, and is projected to be, equal to or greater than an amount equal to fifteen percent (15%) of the Aggregate Commitments.