“Suppressed Excess Availability” means, on any date of determination, the sum of # Excess Availability plus # the lesser of # the Borrowing Base minus the Revolving Credit Amount (but not less than zero) and # 5.0% of the Revolving Credit Amount.
“Liquidity” means Unencumbered Cash plus Revolving Loan Availability.
Section # FILO Deficiency Reserve; Certain Availability Reserves 97
the Tranche A-1 Prescription File Availability; minus
RECORD RETENTION, DOCUMENTATION, AND AVAILABILITY OF INFORMATION 16
"Availability Block" shall mean ; provided that the Availability Block will be reduced to upon 's receipt of audited financial statements for the year ending , or any unaudited quarterly financial statements
the daily average of the Excess Availability for the immediately preceding ninety (90) consecutive day period shall have been not less than twenty percent (20%) of the Maximum Revolver Amount and, on a pro forma basis, using the Excess Availability as of the date of the most recent calculation of the Borrowing Base immediately prior to any such Acquisition, the Excess Availability shall be not less than twenty percent (20%) of the Maximum Revolver Amount,
The FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the and the pursuant to [Section 7.4], as adjusted to give effect to Availability Reserves following such delivery (without duplication of Availability Reserves in effect under the Borrowing Base); provided, that such Availability Reserves shall not be established or changed except upon not less than three (3) Business Days’ notice to the (during which period the shall be available to discuss any such proposed Availability Reserve with the and the may take such action as may be required so that the event, condition or matter that is the basis for such Availability Reserve no longer exists, in a manner and to the extent reasonably satisfactory to the ); provided further that, during such three (3) Business Day period, Credit Extensions hereunder shall be subject to the Borrowing Base (including after giving effect to any new or increased FILO Deficiency Reserve) as if such new or modified Availability Reserves were given effect; provided further that no such prior notice shall be required for changes to any Availability Reserves resulting solely by virtue of mathematical calculations of the amount of the Availability Reserve in accordance with the methodology of calculation previously utilized (such as, but not limited to, rent and Customer Credit Liabilities) or if an Event of Default is continuing.
Availability (the lesser of Line D and Line G)
From the Sixth Amendment Effective Date until the next Adjustment Date, margins shall be determined as if Level III were applicable. Thereafter, any increase or decrease in the Applicable Margin resulting from a change in Average Availability shall become effective as of each Adjustment Date based upon Average Availability for the immediately preceding fiscal quarter. Average Availability shall be calculated by the Lender based on the actual daily Availability calculated from Borrowing Base Certificates delivered from time to time pursuant to [Section 7.02(a)] (as the same may be adjusted as set forth therein). If any Borrowing Base Certificate (including any required financial information in support thereof) is not received by the Lender by the date required pursuant to [Section 7.02(a)], then the Applicable Margin shall be determined as if the Average Availability for the immediately preceding fiscal quarter is at Level III until such time as such Borrowing Base Certificate and supporting information is received.
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