amend the definitions of “Advance Rate”, “Availability”, “Eligible Contracts”, “Excess Availability” or “Principal Balance”;
Availability Period. The period from and including the Closing Date to the Availability Period Termination Date.
“Average Daily Excess Availability” means the average daily Excess Availability for the immediately preceding fiscal quarter.
at all times when Availability is less than 7.50% of the Maximum Revolver Amount (as adjusted for any Reserves against the Maximum Revolver Amount implemented pursuant to [Section 2.1(c)]), “Excess Availability” shall equal Availability; and
the then amount of all Availability Reserves (without duplication of Availability Reserves in effect under the Borrowing Base).
Availability of Shares Not Issued under Awards. Shares of Stock subject to an Award under this Plan that expires or is canceled, forfeited, settled in cash or otherwise terminated without an issuance of shares to the Participant, including # shares forfeited with respect to Restricted Stock and # the number of shares withheld or surrendered in payment of any exercise or purchase price of an Award or taxes relating to Awards, in each case, will again be available for Awards under this Plan, except that if any such shares could not again be available for Awards to a particular Participant under any applicable law or regulation, such shares shall be available exclusively for Awards to Participants who are not subject to such limitation. Notwithstanding the foregoing, with respect to any Option, Stock Appreciation Right, or other Award for which a Participant pays (or the value or amount payable under the Award is reduced by) an amount equal to or exceeding the Fair Market Value of the Stock determined as of the date of grant, the following shares will not, in each case, be available for future Awards under the Plan: # shares tendered or withheld in payment of any exercise or purchase price of such Award or taxes relating to such Award, # shares that were subject to such Award that was exercised, or # shares repurchased on the open market with the proceeds of such Award’s exercise price. If an Award may be settled only in cash, such Award need not be counted against any of the share limits under this Section 4 but will remain subject to the limitations in Section 5 to the extent required to preserve the status of any Award intended to be a [Section 162(m)] Award.
“Average Undrawn Availability” shall mean, as of any date of determination, the quotient obtained by dividing # the aggregate sum of Undrawn Availability for each of the previous sixty (60) days by # sixty (60).
Availability Share means, with respect to each Borrower, at any time, the percentage which such Borrowers Maximum Availability bears to the aggregate Maximum Availabilities of all Borrowers, all determined as of such time.
the Tranche A Equipment Availability; plus
the amount of all Availability Reserves.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.