UK Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate UK Revolving Commitment at such time and (ii) the UK Borrowing Base at such time, minus (b) the Commitment Reserves established with respect to the UK Loan Parties and/or the UK Collateral at such time, minus (c) the Aggregate UK Credit Exposure at such time.
UK Availability means, as of any date of determination, the aggregate Dollar Equivalent amount that UK Borrowers are entitled to borrow as UK Revolving Loans under Section 2.1(c) (after giving effect to the then outstanding UK Revolver Usage and all UK Reserves imposed in accordance with the terms hereof and then applicable thereunder).
UK Availability means (a) the lesser of (x) the UK Sublimit and (y) the sum of (i) the UK Borrowing Base plus (ii) solely to the extent the total Revolving Exposure relating to the UK Borrower exceeds the UK Borrowing Base, the US Availability (calculated without giving effect to any UK US Borrowing Base Utilization), minus (b) the total Revolving Exposure relating to the UK Borrower.
Examples of UK Availability in a sentence
U.K. Availability: as of any date of determination, the U.K. Borrowing Base as of such date of determination minus the aggregate principal amount of all U.K. Revolver Loans outstanding on such date of determination.
U.K. Borrowing Base: on any date of determination, an amount equal to the lesser of (a) the result of: (i) the Maximum U.K. Facility Amount, minus (ii) the U.K. LC Reserve, minus (iii) the U.K. Top Golf Reserve; or (b) the result of: (i) the U.K. Accounts Formula Amount, plus (ii) the U.K. Inventory Formula Amount, plus (iii) 100% of the amount of U.K. Pledged Cash, minus (iv) the U.K. Availability Reserve.
Availability: as of any date of determination, the sum of the U.S. Availability plus the Canadian Availability plus the U.K. Availability.
If any U.K. LC Obligations, whether or not then due or payable, shall for any reason be outstanding at any time (a) that an Event of Default exists, (b) that U.K. Availability is less than zero, or (c) within 10 Business Days prior to the U.K. Revolver Commitment Termination Date, then the U.K. Borrower shall, at U.K. Issuing Bank’s or Agent’s request, Cash Collateralize the stated amount of all outstanding U.K. Letters of Credit and pay to U.K. Issuing Bank the amount of all other U.K. LC Obligations.
Availability Reserve: the U.K. Availability Reserve or the U.S. Availability Reserve, as the context requires.
More Definitions of UK Availability
UK Availability the UK Borrowing Base minus the UK Revolver Usage.
UK Availability means, at any time, an amount equal to (a) the UK Maximum Borrowing Amount, minus (b) the Aggregate UK Exposure.
UK Availability means, as of any date of determination, the amount that U.K. Borrower is entitled to borrow as U.K. Advances under Section 2.1(a)(ii) of the Agreement (after giving effect to all then outstanding Obligations and all sublimits and reserves then applicable hereunder).
UK Availability means, as of any date of determination thereof, the result, if a positive number, equal to the lesser of (a)(i) the UK Loan Cap minus (ii) the UK Total Outstandings on such date, or (b)(i) the Loan Cap minus (ii) the Total Outstandings on such date.
UK Availability. The Dollar Equivalent of the UK Borrowing Base minus UK Revolver Usage. UK Availability Reserve: the sum (without duplication) of (a) the Inventory Reserve with respect to the Inventory of UK Borrower; (b) the Rent and Charges Reserve with respect to UK Borrower; (c) the LC Reserve applicable to UK Borrower; (d) the UK Bank Product Reserve; (e) all accrued Royalties payable by UK Borrower, whether or not then due and payable by UK Borrower; (f) the aggregate amount of liabilities secured by Liens upon UK Collateral that are or may be senior to Agent’s Liens (but imposition of any such reserve shall not waive an Event of Default arising therefrom); (g) the UK Dilution Reserve; (h) a reserve for the prescribed part of floating charge realisations which may be set aside for unsecured creditors which at the date of this Agreement is a maximum of 600,000 Sterling for UK Borrower, (i) the UK Term Loan Deficiency Reserve, and (j) such additional reserves, in such amounts and with respect to such matters, as Agent in its Permitted Discretion may elect to impose from time to time; provided, that the reserves included in the UK Availability Reserve shall not be duplicative of the eligibility criteria for Eligible UK Accounts or Eligible UK Inventory.
UK Availability means: (a) the lesser at any point in time of: ----------------- (i) the Maximum U.K. Revolving Credit Line; and (ii) the sum of (A) eighty-five percent (85%) of the Net Amount of Eligible U.K. Accounts, plus (B) the Inventory Advance Rate of the U.K. Borrower at such time multiplied by the value of Eligible U.K. Inventory; less (C) the Accounts Payable Reserve (the amount ---- under this clause (ii) referred to as the "U.K. Formula Amount"); less (b) ---- without duplication (i) the Dilution Reserve; (ii) a reserve established for all amounts secured by any Liens, xxxxxx or inchoate, which rank or are capable of ranking in priority to the Agent's and/or Lenders' Security Interest, including without limitation, any such amounts which are payroll tax amounts, National Insurance contributions, occupational pension scheme contributions, amounts due and not paid for vacation pay, amounts due and not paid under any legislation relating to workers' compensation or to unemployment insurance, all amounts deducted or withheld and not paid and remitted under the Income Tax Act of -------------- Canada, all amounts falling within any of the categories of preferential debts as listed in Schedule 6 to the Insolvency Xxx 0000 of England and Wales, amounts ------------------- currently or past due and not paid for realty, municipal or similar taxes and all amounts currently or past due and not contributed, remitted or paid to any Plan or under the Canada Pension Plan, the Pension Benefits Act or any similar -------------------- legislation; (iii) a reserve in an amount determined by the Agent from time-to- time in respect of such portion of the Accounts as represents a value-added, sales, goods and services or excise tax;(iv) a reserve for all claims, charges and Liens, including in respect of rent, storage and/or transport costs which have arisen or may arise, in respect of off-site Inventory or Inventory at leased locations unless a waiver and access agreement satisfactory to the Agent shall have been received; (v) a reserve for all amounts due to contract managers under joint venture or similar arrangements; and (vi) all other reserves which the Agent in the exercise of its Permitted Discretion deems necessary or desirable to maintain with respect to the U.K. Borrower, including, without limitation, in respect of any amounts which the Agent and/or U.K. Lenders may be obligated to pay in the future for the account of the U.K. Borrower (the foregoing amount calculated b...
UK Availability the amount of additional money which UK Borrowers are entitled to borrow from time to time as UK Revolving Credit Loans, such amount being the lesser of (i) the UK Revolving Credit Sub-Limit minus the Dollar Equivalent of the UK Revolving Credit Loans outstanding and the Dollar Equivalent of the outstanding principal amount of the UK Term Loans and the Dollar Equivalent of the UK LC Amount and the Dollar Equivalent of the UK LC Obligations, and (ii) the difference derived when the sum of the Dollar Equivalent of the principal amount of UK Revolving Credit Loans to UK Borrowers then outstanding (including any amounts which Administrative Agent, UK Agent or UK Lender may have paid for the account of UK Borrowers pursuant to any of the Loan Documents and which have not been reimbursed by UK Borrowers), and the Dollar Equivalent of any Reserves and the Dollar Equivalent of the outstanding principal amount of the UK Term Loans and the Dollar Equivalent of the UK LC Amount and the Dollar Equivalent of the UK LC Obligations is subtracted from the Dollar Equivalent of the UK Borrowing Base, subject in each case to the other limitations in Section 1.1.3