Borrowing Base Test definition

Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

Borrowing Base Test means as of any Determination Date, that the Borrowing Base shall be equal to or greater than Credits Outstanding.

Examples of Borrowing Base Test in a sentence

• In addition, Advances Outstanding shall be repaid as and when necessary (first, to Swing Advances outstanding) to cause the Borrowing Base Test to be met, in accordance with Section 2.8 (each such payment, a “Mandatory Prepayment”), and any amount so repaid may, subject to the terms and conditions hereof, be reborrowed hereunder during the Revolving Period.

• Any requested Advance shall be in an amount such that, immediately after giving effect thereto and the related purchase (if any) of the applicable Portfolio Investment(s), the Borrowing Base Test is satisfied.

• Funds on deposit in the Unfunded Exposure Account as of any date of determination may be withdrawn to fund draw requests of the relevant Obligors under any Delayed Funding Loan Asset; provided that, the amount withdrawn to fund such draw request shall not cause the Borrowing Base Test to fail to be satisfied.

• Notwithstanding anything in this Agreement to the contrary, the Parent may, but shall have no obligation to, at any time or from time to time make a capital contribution to the Company for any purpose, including for the purpose of curing any Default or Event of Default, in connection with a Market Value Cure, satisfying any Borrowing Base Test, enabling the acquisition or sale of any Portfolio Investment or satisfying any conditions under Section 2.04.

• In addition, Advances Outstanding shall be repaid as and when necessary to cause the Borrowing Base Test to be met, and in any case within two (2) Business Days of any failure of the Borrowing Base Test to be satisfied (each such payment, a “Mandatory Prepayment”), and any amount so repaid may, subject to the terms and conditions hereof, be reborrowed hereunder during the Revolving Period (including reborrowed on or before the next applicable Payment Date not to exceed the Availability as of such date).

More Definitions of Borrowing Base Test

Borrowing Base Test means as of any date, a determination that (a) the Maximum Availability shall be equal to or greater than (b) the Advances Outstanding.

Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true:

Borrowing Base Test means a test that will be satisfied at any time if (a) Advances Outstanding plus (b) the Net Aggregate Exposure Amount at such time are less than or equal to (c) the Borrowing Base at such time.

Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: Adv = the aggregate principal amount of the Advances actually outstanding on such date of determination; PP = Principal Proceeds then on deposit in the Accounts, the Permitted CAD Accounts, the Permitted EUR Accounts and the Permitted GBP Accounts (including cash and Eligible Investments (other than Principal Proceeds that have been identified for use to settle outstanding Purchase Commitments which have traded but not settled)); and AR = 60%.

Borrowing Base Test means a test that will be satisfied at any time if (a) Advances Outstanding are less than or equal to (b) the Borrowing Base at such time.

Borrowing Base Test means a test that will be satisfied at any time if (i) Advances Outstanding are less than or equal to the Borrowing Base (Aggregate) at such time, (ii) the aggregate principal balance (in CAD) of all CAD Advances outstanding hereunder are less than the Borrowing Base (CAD), (iii) the aggregate principal balance (in EUR) of all EUR Advances outstanding hereunder are less than the Borrowing Base (EUR) and (iv) the aggregate principal balance (in GBP) of all GBP Advances outstanding hereunder are less than the Borrowing Base (GBP).

Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Net Advance £ AR Net Asset Value Where: AR = 55%.