Excess Availability

Excess Availability. Means, as determined on the date of the applicable payment, the amount equal to Availability, after giving effect to (i) the Effective Date Payments, the 2011 Year-End Payments or the 2012 Mid-Year Payments, as applicable, (ii) the payment of Borrowers' trade payables older than thirty (30) days past due date (subject to the exclusion of certain account balances which have extended terms or other payment arrangements evidenced by documentation reviewed by and acceptable to Lender in its sole... discretion), (iii) the payment of all book overdrafts, and (iv) at the time of and only with respect to the Effective Date Payments, the payment of transaction expenses (including the closing fee payable to Lender). View More

Excess Availability. As to each Borrower, the US Dollar Equivalent of the amount, as determined by Agent, calculated at any time, equal to: (A) the Borrowing Base of such Borrower, minus (B) the sum of: (1) the amount of all then outstanding and unpaid Obligations of such Borrower (other than (x) pursuant to its guarantee of the Obligations of the other Borrowers and (y) in respect of the Term Loan), plus (2) the aggregate amount of all trade payables and other obligations of such Borrower which are more than sixty... (60) days past due as of such time. View More

Excess Availability. Shall have the meaning set forth in the Working Capital Loan and Security Agreement as in effect on the date hereof.

Excess Availability. The amount, as of the date any determination thereof is to be made, equal to Availability minus the aggregate amount, if any, of all trade SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT - Page 1 payables of Borrowers aged in excess of 30 days beyond the due date (but in no event to exceed 90 days beyond the invoice date) with respect thereto and all book overdrafts in excess of their historical practices with respect thereto, as... determined by Agent in its Permitted Discretion. View More

Excess Availability. Shall mean the amount, as determined by Agent, calculated at any date, equal to: (a) the lesser of (i) the Borrowing Base (after giving effect to any Reserves other than any Reserves in respect of Letter of Credit Accommodations) and (ii) the Revolving Loan Limit, MINUS (b) the sum of: (i) the amount of all then outstanding and unpaid Obligations 3 (but not including for this... purpose the then outstanding aggregate principal amount of the Term Loans, the Equipment Purchase Term Loans, the Supplemental Term Loans, the Term B Loan or any outstanding Letter of Credit Accommodations), PLUS (ii) the amount of all Reserves then established in respect of Letter of Credit Accommodations, PLUS (iii) the aggregate amount of all then outstanding and unpaid trade payables and other obligations of Borrowing Base Parties 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 Borrowing Base Parties in good faith), PLUS (iv) without duplication, the amount of checks issued by Borrowing Base Parties 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 Borrowing Base Parties in good faith), but not yet sent, PLUS (v) the difference (if positive) between (A) the aggregate amount of the proceeds of the loans or advances which have been received by Parent from Tranche B Term Loan Lenders under Section 9.9(f) hereof on or after the Amendment No. 14 Effective Date for purposes of the loans or advances permitted to be made by Parent to WHX pursuant to Section 9.10(l) hereof or the distributions permitted to be made by Parent to WHX pursuant to Sections 9.11(e) hereof and which have not been provided by Parent to WHX in the form of loans or advances pursuant to Sections 9.10(l) hereof or distributions pursuant to Sections 9.11(e) hereof, and (B) the Parcel Sale Reserve Amount. View More

Excess Availability. The definition of "Excess Availability" in Section 1.46 of the Loan Agreement is hereby amended by inserting the following immediately prior to the period at the end of such definition: ", PLUS (v) the amount equal to (A) the aggregate amount of the proceeds of the loans or advances which have been received by Parent from Tranche B Term Loan Lenders under Section 9.9(f) hereof on or after the Amendment No. 14 Effective... Date for purposes of the loans or advances permitted to be made by Parent to WHX pursuant to Sections 9.10(l) or (m) hereof or the distributions permitted to be made by Parent to WHX pursuant to Sections 9.11(e) or (f) hereof and which have not been provided by Parent to WHX in the form of loans or advances pursuant to Sections 9.10(l) or (m) hereof or distributions pursuant to Sections 9.11(e) or (f) hereof, LESS (B) the Parcel Sale Reserve Amount". 4 View More

Excess Availability. Means, on the date of determination, the amount by which the lesser of the Commitment and the Borrowing Base exceeds the balance of the Loan.

Excess Availability. Means the positive difference, if any, between (i) the Revolving Commitment and (ii) the Revolving Outstanding.

Excess Availability. Means the amount, as of the date any determination thereof is to be made, equal to Availability plus any fees and expenses paid to the Consultant pursuant to Section 6.18 in an aggregate amount not to exceed $200,000 and the amendment fee paid by the Borrowers pursuant to the First Amendment, minus the aggregate amount, if any, of all trade payables of Parent and its Subsidiaries aged in excess of their historical levels with respect... thereto in any material respect and all book overdrafts in excess of their historical practices with respect thereto in any material respect , in each case as determined by Agent in its Permitted Discretion. View More

Excess Availability. Shall mean, as of any date of determination by Lender, the excess, if any, of the lesser of (i) the Maximum Revolving Loan Limit less the sum of the outstanding Revolving Loans and (ii) the Revolving Loan Limit less the sum of the outstanding Revolving Loans, in each case as of the close of business on such date and assuming, for purposes of calculation, that all accounts payable which remain unpaid more than sixty (60) days after the due dates thereof as the close of business on such date are... treated as additional Revolving Loans outstanding on such date. View More