The LMR36500 continues to regulate output voltage even if the input-to-output voltage ratio requires an on-time less than the minimum. This action is accomplished using valley current control. At all times, the compensation circuit dictates both a maximum peak inductor current and a maximum valley inductor current. If for any reason, valley current is exceeded, the clock cycle is extended until valley current falls below that determined by the compensation circuit. If the converter is not operating in current limit, the maximum valley current is set above the peak inductor current, preventing valley control from being used unless there is a failure to regulate using peak current only. If the input-to-output voltage ratio is too high, such that the inductor current peak value exceeds the peak command dictated by compensation, the high-side device cannot be turned off quickly enough to regulate output voltage. As a result, the compensation circuit reduces both peak and valley current. After a low enough current is selected by the compensation circuit, valley current matches that being commanded by the compensation circuit. Under these conditions, the low-side device is kept on and the next clock cycle is prevented from starting until inductor current drops below the desired valley current. Because on-time is fixed at its minimum value, this type of operation resembles that of a device using a Constant On-Time (COT) control scheme; see Figure 7-17.

In valley control mode, minimum inductor current is regulated, not peak inductor current.

Figure 7-17 Valley Current Mode Operation