Common use of Borrowing Base Limitation Clause in Contracts

Borrowing Base Limitation. At any time at which the Facilities do not have a rating of BBB- or higher from S&P or Baa3 or higher from ▇▇▇▇▇’▇, permit the aggregate outstanding amount of the sum of all Borrowing Base Debt to exceed the Borrowing Base at such time (the “Borrowing Base Limitation”).

Appears in 2 contracts

Sources: Credit Agreement (Lennar Corp /New/), Credit Agreement (Lennar Corp /New/)