Revolving Loan Availability

Revolving Loan Availability. Means on any date of determination, (a) the lesser of (i) the Revolving Credit Amount minus the Letter of Credit Obligations on such date, and (ii) 3.3 times EBITDA (as defined on Supplement A) for the twelve-month period ending on the last day of the month immediately preceding the date that is thirty days prior to such date of determination, minus (b) the Reserved Amount on such date.

Revolving Loan Availability. Means the difference between (a) the lesser of (x) the Maximum Revolving Commitment in effect at such time, minus $1,500,000 and (y) the Borrowing Base at such time, minus (b) the sum of the aggregate principal -3- amount of all "Loans," all "Specified Hedging Obligations" and the "Stated Amount" of all "Letters of Credit" outstanding or requested but not yet funded under (and, in each case, as such terms are defined in) the Canadian Loan Agreement.