Adjusted Excess Availability

Adjusted Excess Availability. ‘Adjusted Excess Availability’ shall mean the amount, as determined by Agent, calculated at any date, equal to: (a) the Adjusted Loan Limit minus (b) the sum of: (1) the amount of all then outstanding and unpaid Obligations, plus (2) the amount of all Reserves, plus (3) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of Borrowers which are outstanding more than sixty (60) days past due as of such time (other than trade payables or other obligations... being contested or disputed by Borrowers in good faith), plus (4) without duplication, the amount of checks issued by Borrowers to pay trade payables and other obligations which are more than sixty (60) days past due as of such time (other than trade payables or other obligations being contested or disputed by Borrowers in good faith), but not yet sent. View More