Borrowing Base Eligible Assets means, as of any relevant date of determination, an amount equal to (a) the value of the Borrower’s Adjusted Total Assets as of such date, minus (b) the fair market value of all assets of the Borrower which are subject to a Lien (other than a Lien in favor of the Agent for the benefit of the Agent and the Banks under the Loan Documents) or otherwise segregated for the benefit of any Person for any liability or obligation owing such Person.
Borrowing Base Eligible Assets means (a) on and from the Closing Date, the assets set forth on Schedule C-1 and (b) as of any date of determination after the Closing Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset). In the event an asset ceases to satisfy the Borrowing Base Eligibility Criteria, it shall no longer constitute a Borrowing Base Eligible Asset.
Borrowing Base Eligible Assets means Cash and other Assets of the Borrower which (a) are free and clear of all Adverse Claims, (b) in the case of Assets other than Cash, are capable of being pledged to the Agent on behalf of the Secured Parties under this Agreement such that the Agent on behalf of the Secured Parties will have a perfected security interest in such Assets pursuant to this Agreement and the Control Agreement, (c) the Asset Value of which are capable of being ascertained on a daily basis, and (d) are denominated and payable in Dollars; provided, that such Asset (i) does not constitute an option, Derivatives Transaction or an Asset which is the subject of a Derivatives Transaction, reverse repurchase agreement, dollar roll or securities lending transaction; (ii) is not registered in the name of the Borrower, payable to the order of the Bo rrower or specifically endorsed to the Borrower, unless specifically endorsed to the Custodian or in blank, (iii) does not constitute a Loan Asset, an Illiquid Asset, an Excluded Foreign Asset or Margin Stock, and (iv) does not constitute a Foreign Asset held in a Securities System or an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Examples of Borrowing Base Eligible Assets in a sentence
At all times, cause the Custodian to have and maintain in its custody (A) all Loan Documents relating to the Assigned Collateral, (B) all of its Borrowing Base Eligible Assets in accordance with the terms of the Custodial Agreement, and (C) all Assigned Collateral in accordance with the terms of the Custodial Agreement and the Control Agreement.
Each determination by Administrative Agent of the Borrowing Base, Eligible Assets, the Asset Value of the Borrowing Base, and the amount of each Revolving Loan (and all other amounts and items entering into such determinations), will be final, conclusive and binding upon Borrower, absent manifest error.
All Borrowing Base Eligible Assets of the Borrower (including Cash but excluding Loan Assets) are held in or credited to the Collateral Account.
Select a sample of 25 Borrowing Base Eligible Assets from the System Download worksheet.
The damage ofwhich Lady Brownlie complains has, in a very real sense, been sustained by her in this jurisdiction.
Parents, children, and teens may lose contact with friends and family due to school closures and social distancing measures.
All Borrowing Base Eligible Assets of the Borrower (other than Loan Assets) are held in or credited to the Collateral Account and all Eligible Loan Assets are held by the Custodian for the benefit of the Secured Parties pursuant to the Control Agreement.
Apart from considerations of the strictly humanitarian approach of the Group, any attempt to ascribe responsibility would be unmanageable and perhaps even counter-productive.
The aggregate Borrowing Base Asset Value of Borrowing Base Eligible Assets as of the date hereof is $_________.
Agree the aggregate Borrowing Base Asset Value of Borrowing Base Eligible Assets and the aggregate Borrowing Base Adjusted Asset Value of Borrowing Base Eligible Assets to the Calculations worksheet.
More Definitions of Borrowing Base Eligible Assets
Borrowing Base Eligible Assets means (a) on and from the Closing Date, the assets set forth on Schedule C-1, (b) as of any date of determination after the Closing Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset) and (c) current and future agency commercial mortgage servicing rights (“MSRs”) held by the Borrower and its Subsidiaries, subject to an aggregate limit of $60,000,000 with respect to all such MSRs and provided that such MSRs are subject to no Liens other than rights of the Agencies and Permitted Collateral Liens that have not been outstanding for longer than 10 Business Days after Borrower or any Grantor, as applicable, obtains knowledge thereof; provided that Liens arising pursuant to clauses (d) and (g) of the definition of Permitted Collateral Liens shall not be subject to such 10 Business Day limitation.
Borrowing Base Eligible Assets means Cash, Eligible Loan Assets, Eligible Commercial Paper and Eligible Government Securities which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; PROVIDED, that such Asset (i) does not constitute an option, Derivatives Transaction or an Asset which is the subject of a Derivatives Transaction, reverse repurchase agreement, dollar roll or securities lending transaction; (ii) is denominated and payable in Dollars and is not a Non-OECD Loan Asset, (iii) is not committed to a repurchase of shares pursuant to Rule 23c-3(b)(10) under the Investment Company Act, and (iv) does not constitute an Asset held by a sub-custodian which is not located in the United States.
Borrowing Base Eligible Assets means (a) on and from the Closing Date, the assets set forth on Schedule C-1 and (b) as of any date of determination after the Closing Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset); provided that Liens arising pursuant to clauses (d) and (g) of the definition of Permitted Collateral Liens shall not be subject to such 10 Business Day limitation. “Borrowing Base Subsidiary” means any Subsidiary of the Borrower whose equity interests constitute Borrowing Base Eligible Assets pursuant to subclauses (i)(y) or (i)(z) of the definition of Borrowing Base Eligibility Criteria and shall include, without limitation, all Borrowing Base Debt Subsidiaries listed on Schedule C-2. “Borrowing Base Value” means, with respect to any Borrowing Base Eligible Asset as of any date of determination, the sum of (a) product of (x) the Applicable Advance Rate for such Borrowing Base Eligible Asset as of such date and (y) the Assigned Value of such Borrowing Base Eligible Asset as of such date, plus (b) the consolidated unrestricted cash and Cash Equivalent of the Borrower and its Subsidiaries. “Business Day” means a day when major commercial banks are open for business in New York, New York, other than Saturdays or Sundays and, if the applicable Business Day relates to any LIBOR Rate Loan, a day on which dealings are carried on by banks in the London interbank market. “Capitalized Lease Obligations” means with respect to any Person, the amount of all obligations of such Person to pay rent or other amounts under a lease of property to the extent and in the amount that such obligations are required to be classified and accounted for as a capital lease on a balance sheet of such Person in accordance with GAAP. “Cash Cure Amount” has the meaning set forth in Section 7.3(c). “Cash Equivalents” means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year from the date of acquisition thereof, (b) marketable direct obligations issued by any state of the United States or any political subdivision of any such state or any public instrumentality thereof...
Borrowing Base Eligible Assets means Cash, Eligible Loan Assets, Eligible Commercial Paper and Eligible Government Securities which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset (i) does not constitute an option, Derivatives Transaction or an Asset which is the subject of a Derivatives Transaction, reverse repurchase agreement, dollar roll or securities lending transaction; (ii) is denominated and payable in Dollars and is not a Non-OECD Loan Asset, (iii) is not committed to a repurchase of shares pursuant to Rule 23c-3(b)(10) under the Investment Company Act, and (iv) does not constitute a Foreign Asset held in a Securities System or a Foreign Holding Company.
Borrowing Base Eligible Assets means (a) on and from the A&R Effective Date, the assets set forth on Schedule C-1 and (b) as of any date of determination after the A&R Effective Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset); provided that Liens arising pursuant to clauses (d) and (g) of the definition of Permitted Collateral Liens shall not be subject to such 10 Business Day limitation.