ABL Excess Availability. After giving effect to # the making of any Committed Loans (as defined in the ABL Credit Agreement) and the issuance of any Letters of Credit (as defined under the ABL Credit Agreement) under the ABL Credit Agreement, in each case, on the Closing Date and # the making of the Term Loans hereunder and the implementation of any required Term Loan Reserve, in each case on the Closing Date, ABL Excess Availability shall be not less than $22,500,000.

ABL Excess Availability. After giving effect to all Letters of Credit (as defined under the ABL Credit Agreement) to be issued at, or immediately subsequent to, the establishment of the ABL Credit Agreement, and to the making of the Term Loans hereunder, ABL Excess Availability (as defined under the ABL Credit Agreement) shall be no less than $20,000,000.