Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

Borrowing Availability means, at any time, the lesser of (i) the Maximum Amount or (ii) the Borrowing Base, in each case less reserves established by Lender from time to time.

Borrowing Availability shall have the meaning assigned to it in Section 1.1(a)(i).

Examples of Borrowing Availability in a sentence

After giving effect to any Borrowing, Availability shall be not be less than zero.
Subject to the terms and conditions of this Agreement, including without limitation each of the conditions in Section 4.2, Lender hereby agrees to make loans (“Loans”) to the Borrower, from time to time on any Business Day during the Loan Commitment Availability Period, in aggregate principal amount at any time outstanding not exceeding the Loan Commitment; provided, however, that after giving effect to any Borrowing, Availability must be greater than zero.
After giving effect to any Borrowing, Availability shall not be less than zero.
After giving effect to such Credit Extension, the aggregate then outstanding principal amount of the Loans shall not exceed the Commitment, and in no event shall the outstanding principal amount of the Loans be in excess of the Borrowing Availability at any time.
If any time the then outstanding principal balance of the Loans exceeds the Borrowing Availability, then the Borrower shall immediately prepay the outstanding Loans in an amount sufficient to eliminate such excess in accordance herewith.

More Definitions of Borrowing Availability

Borrowing Availability means as of any time of determination the lesser of (i) the Total Revolving Credit Commitment at such time and (ii) the Borrowing Base at such time, in each case, less the sum of (a) the Loans then outstanding (including, without duplication, the outstanding balance of the Swingline Loan then outstanding), (b) aggregate L/C Exposure at such time and (c) Reserves established by the Administrative Agent in its reasonable credit judgment.

Borrowing Availability means, as of any date of determination, an amount equal to the lesser of (a) the Aggregate Revolving Commitments as of such date and (b) the result of (i) Combined Eligible Availability as of such date minus (ii) Consolidated Net Indebtedness as of such date (excluding the Outstanding Amount of Loans and L/C Obligations).

Borrowing Availability means:

Borrowing Availability means as of any date of determination (a) as to all Borrowers, the lesser of (i) the Maximum Amount and (ii) the Aggregate Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding, or (b) as to an individual Borrower, the lesser of (i) the Maximum Amount less the sum of the Revolving Loan and Swing Line Loan outstanding to all other Borrowers and (ii) that Borrower’s separate Borrowing Base, less the sum of the Revolving Loan and Swing Line Loan outstanding to that Borrower.

Borrowing Availability means, as of any date of determination, (i) the lesser of (x) the Total Commitment and (y) the Borrowing Base minus (ii) the Aggregate Exposure.

Borrowing Availability shall have the meaning assigned to it in SECTION 1.1(a)(i).