Borrowing Base Limitations. Notwithstanding anything to the contrary set forth herein (but subject to Section 2.01(e)), it shall be a condition precedent to each Credit Event that after giving effect thereto (and the use of the proceeds thereof):
Borrowing Base Limitations. The Borrowers must ensure that the aggregate amount of all outstanding Borrowings (expressed in Dollars) will not at any time exceed the lesser of (i) the amount at such time of the Facility, and (ii) the Borrowing Base. Accordingly, no Borrower may request a Borrowing if the making of such Borrowing would result in such limit being exceeded.
Borrowing Base Limitations. If, as of the last day of the most recent fiscal quarter then ended, Borrower does not have an Investment Grade Rating and the Debt to Capitalization Ratio is greater than fifty-five percent (55%), then until Borrower delivers a Compliance Certificate pursuant to Section 6.01(c) reflecting that the Debt to Capitalization Ratio is equal to or less than fifty-five percent (55%), Borrower shall not permit the aggregate outstanding amount of all Borrowing Base Debt to, at any time, exceed the Borrowing Base.
Borrowing Base Limitations. After giving effect thereto (and the use of the proceeds thereof) the Total Revolving Credit Exposure would not exceed the Line Cap at such time. Each Borrowing of a Loan (other than (w) the initial extensions of credit on the Closing Date (except with respect to the condition precedent specified in clause (d) above), (x) Agent Advances, (y) a conversion of Loans to the other Type, or a continuation of Eurocurrency Rate Loans and (z) any amendment, modification, renewal or extension of a Letter of Credit which does not increase the face amount of such Letter of Credit) by and issuance of a Letter of Credit on behalf of one or more Borrowers hereunder shall constitute a representation and warranty by the Parent Borrower and such Borrower as of the date of such extension of credit that the conditions contained in this Section 4.02 have been satisfied. Notwithstanding anything in this Section 4.02 to the contrary, (i) the effectiveness of any Incremental Amendment shall be subject only to the conditions precedent set forth in Section 2.14 and to such conditions as are mutually agreed between the applicable Borrower and the Lenders party to the Incremental Amendment and (ii) the effectiveness of any Extension Amendment shall be subject only to the conditions precedent set forth in Section 2.16 and to such conditions as are mutually agreed between the applicable Borrower and the Lenders party to the Extension Amendment.
Borrowing Base Limitations. After giving effect thereto (and the use of the proceeds thereof):
Borrowing Base Limitations. The Borrowers must ensure that all outstanding Borrowings under the Facilities (expressed in Dollars) will not at any time exceed the lesser of the amount at such time of the Facilities and the Borrowing Base. Accordingly, no Borrower may request a Borrowing under the Revolving Facility if the making of such Borrowing would result in such limit being exceeded.
Borrowing Base Limitations. After giving effect thereto (and the use of the proceeds thereof) the Total Revolving Credit Exposure would not exceed the Line Cap at such time. Each Borrowing of a Loan or issuance of a Letter of Credit (other than (x) Agent Advances and (y) a conversion of Loans to the other Type, or a continuation of Term Benchmark Loans) shall constitute a representation and warranty by the Borrower as of the date of such extension of credit that the conditions contained in this Section 4.2 have been satisfied. Notwithstanding anything in this Section 4.2 to the contrary, the effectiveness of any Extension Amendment shall be subject only to the conditions precedent set forth in Section 2.22(a) and to such conditions as are mutually agreed between the Borrower and the Lenders party to the Extension Amendment.
Borrowing Base Limitations. Notwithstanding anything to the contrary set forth herein (but subject to Section 2.01), it shall be a condition precedent to each Credit Event that after giving effect thereto (and the use of the proceeds thereof) that the Aggregate Exposure at such time would not exceed the Borrowing Base at such time. For purposes of this Section 7.03, the Borrowing Base will be based upon the Borrowing Base Certificate most recently delivered less any reserves then in effect on the date of the calculation of the Aggregate Exposure. The Borrowing Base Certificate will not be the basis for determining the amount of the Aggregate Exposure. Such amounts shall be determined as of each day. The acceptance of the benefits of each Credit Event shall constitute a representation and warranty by the Obligors’ Agent and the Borrowers to the Administrative Agent and each of the Lenders that all the conditions specified in Section 6 (with respect to Credit Events on the Effective Date) and in this Section 7 (with respect to Credit Events on or after the Effective Date) and applicable to such Credit Event are satisfied as of that time. All of the Notes, certificates, legal opinions and other documents and papers referred to in Section 6 106 and in this Section 7, unless otherwise specified, shall be delivered to the Administrative Agent at the Notice Office for the account of each of the Lenders and, except for the Notes, in sufficient counterparts or copies for each of the Lenders and shall be in form and substance reasonably satisfactory to the Administrative Agent and the Required Lenders.
Borrowing Base Limitations. 9 2.5 Borrowings Proportionate to Commitment......................... 10 2.6
Borrowing Base Limitations. On the Effective Date and after giving effect to any Credit Events to occur on such date, (i) the Aggregate Exposure shall not exceed 100% of the Borrowing Base and (ii) the Aggregate Exposure shall not exceed the Total Revolving Loan Commitment on such date.
