Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the Revolving Credit Exposure of the Lenders on such day, and the denominator of which is (x) the Borrowing Base in effect on such day minus (y) the Term Loan Exposure on such day.
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the balance of all Loans and the LC Exposure outstanding on such day, and the denominator of which is the Borrowing Base in effect on such day.
Examples of Borrowing Base Utilization Percentage in a sentence
Borrowing Base Utilization Percentage (Effective Amount / Borrowing Base): 4.
The margins for all loans are based on a pricing grid ranging from 0.00% to 0.75% for the Base Rate Margin and 2.25% to 3.00% for the Floating Rate Margin based on the Company’s Borrowing Base Utilization Percentage (as defined in the Amended and Restated Credit Agreement).
For the avoidance of doubt, once the Borrowing Base Utilization Percentage is less than or equal to 75%, the requirements of this Section 8.18 shall no longer apply, even if the Borrowing Base Utilization Percentage thereafter exceeds 75%.
More Definitions of Borrowing Base Utilization Percentage
Borrowing Base Utilization Percentage means the ratio, expressed as a percentage, of the Aggregate Outstanding Credit Exposure to the Borrowing Base.
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the aggregate Total Exposures of all Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day; provided that if, as of any day, the Borrowing Base equals $0, then the Borrowing Base Utilization Percentage shall be deemed to equal 100%.
Borrowing Base Utilization Percentage set forth in Section 1.1 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of (i) the aggregate Total Exposures of all Lenders on such day minus the aggregate principal amount of Superpriority Loans then outstanding, minus $120,000,000 and (ii) the aggregate amount of Pari Debt outstanding at such time, and the denominator of which is the Borrowing Base in effect on such day. minus the aggregate principal amount of Superpriority Loans then outstanding, minus $120,000,000.
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Total
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day. “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03, which shall be substantially in the form of Exhibit B or any other form approved by the Administrative Agent. “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City or Dallas, Texas are authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in the London interbank marketin relation to RFR Loans and any interest rate settings, fundings, disbursements, settlements or payments of any such RFR Loan, or any other dealings of such RFR Loan, any such day that is only a U.S. Government Securities Business Day. “Capital Leases” means, subject to Section 1.05, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP, recorded as capital leases on the
Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day. “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03. “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City or Denver, Colorado are authorized or required by law to remain closed; and if such day relates to a Borrowing or continuation of, a payment or prepayment of principal of or interest on, or a conversion of or into, or the Interest Period for, a Eurodollar Loan or a notice by the Borrower with respect to any such Borrowing or continuation, payment, prepayment, conversion or Interest Period, any day which is also a day on which banks are open for dealings in dollar deposits in the London interbank market. “Capital Leases” means, in respect of any Person, all leases which shall have been, or should have been, in accordance with GAAP as in effect on the Effective Date, recorded as capital leases on the balance sheet of the Person liable (whether contingent or otherwise) for the payment of rent thereunder; provided that any obligations of such Person (whether entered into before or after the Effective Date) that would have been classified as an operating lease pursuant to GAAP as in effect on the Effective Date will be deemed not to be a Capital Lease. “Casualty Event” means any loss, casualty or other insured damage to, or any nationalization, taking under power of eminent domain or by condemnation or similar proceeding of, any Property of the Parent or any of its Restricted Subsidiaries having a book value in excess of the Threshold Amount. “Centennial Resource Development” means Centennial Resource Development, Inc., a Delaware corporation formerly known as Silver Run Acquisition Corporation. “Change in Control” means (a) any Person or “group” (within the meaning of Rules 13d- 3 and 13d-5 of the Securities Exchange Act) other than Riverstone shall have acquired beneficial ownership or control of Equity Interests representing more than 50% of the aggregate ordinary voting power represented by the issued and outstanding Equity Interests of Centennial Resource Development, (b) the occupation of a majority of the seats (other than vacant seats) on the board of directors of Centennial Resource Development by Persons who we...