Common use of Borrowing Base Covenant Clause in Contracts

Borrowing Base Covenant. Permit the aggregate of (i) 85% of the book value of the accounts receivable that constitute Collateral, (ii) 50% of the book value of the inventory that constitutes Collateral and (iii) the lesser of (x) 50% of the book value of the property, plant and equipment that constitutes Collateral (in each case as such book value is determined in accordance with GAAP) of the Loan Parties and (y) $100 million to exceed the aggregate principal amount outstanding under the Revolving Credit Facility at any time.