Borrowing Base Limit. The Borrower and the Lenders agree:
Borrowing Base Limit. Each Lender agrees pursuant to Section 7.1(a) of the Credit Agreement to increase the Borrowing Base Limit from Cdn. $400,000,000 to Cdn. $450,000,000.
Borrowing Base Limit. 7.1 Annual Determination of Borrowing Base Limit
Borrowing Base Limit. Each Lender confirms pursuant to Section 7.1 of the Credit Agreement that the Borrowing Base Limit, after giving effect to the dispositions consented to in Article 3 of this Amending Agreement, continues to be Cdn. $525,000,000.
Borrowing Base Limit. The total aggregate outstanding principal of all facilities to the Borrower, the U.S. Guarantors, and/or the European Subsidiaries created by or under the Loan Documents, including all advance payment guarantees issued by the Bank's London Branch, shall be subject to an overall limitation equal to the sum of: (i) eighty percent (80%) of the appraised fair market value of the Pennsylvania Property, the Minnesota Property and the Ohio Property (based upon appraisals prepared for the Bank and completed in December 2001), (ii) seventy-five percent (75%) of the Orderly Liquidation Value of machinery and equipment (based upon appraisals prepared for the Bank and completed in December 2001); (iii) seventy-five percent (75%) of Eligible Accounts as reflected on the most recent borrowing base certificate delivered by Borrower pursuant to Section 2.1.10(c) hereof, and (iv) forty percent (40%) of Eligible Inventory.
Borrowing Base Limit. Notwithstanding any other provision of this Agreement, and except as permitted under Section 4.2 below, at no time will the amount advanced by the Bank under Facility Number 1 or the face amount of Documentary Letters of Credit issued under Facility Number 2 exceed the lesser of (i) the Excess Borrowing Base Amount or (ii) the stated amount of each Facility (i.e., $17,500,000 under Facility 1 and $15,000,000 under Facility 2). The Bank may reject any request for advances or issuance of letters of credit if, as a result of such advance or letter of credit issuance, the amount outstanding under either Facility Number 1 or Facility Number 2 exceeds the limits stated above. The Bank may also demand payment of any amount necessary to place the Company in compliance with the above limits, in which event the Company shall immediately pay such amount to the Bank.
Borrowing Base Limit. At any time, permit the aggregate amount of the Obligations to exceed an amount equal to the Borrowing Base, less outstanding Consolidated Senior Unsecured Debt other than the Facility.
Borrowing Base Limit. Each Lender agrees pursuant to Section 7.1 of the Credit Agreement to maintain the Borrowing Base Limit at Cdn. $300,000,000 until the completion of the Questfire Transaction, whereupon the Borrowing Base Limit will be adjusted under Section 7.3(b)(ii) of the Credit Agreement to Cdn. $230,000,000. In the event that the Questfire Transaction is not completed, the Borrowing Base Limit shall remain at Cdn. $300,000,000 until the Borrowing Base Limit is redetermined in accordance with Article 7 of the Credit Agreement.
Borrowing Base Limit. The sum of all outstanding amounts due and owing under the Credit Facilities (after giving effect to any amount requested under the Revolving Loan) shall not exceed the Borrowing Base (the "Borrowing Base Limit"). If, at any time, the Borrower exceeds the Borrowing Base Limit, then, without any requirement of demand or notice from the Lender, the Borrower shall immediately pay to the Lender the amount of such excess.
Borrowing Base Limit. If at any time the total amount of the Secured Obligations exceeds the Borrowing Base Limit, Borrower shall immediately pay to Agent in cash the amount of such excess, in accordance with Section 2.5. 7.15
