Borrowing Base Loan Sample Clauses

Borrowing Base Loan. Each of the loans which has been approved by the Agent and the Required Lenders for inclusion in the calculation of Borrowing Base Availability and pledged to Agent as Collateral pursuant to the Assignment of Documents, and which is secured by a first priority mortgage loan on a Medical Property which constitutes Eligible Real Estate and satisfies the conditions of §7.20, and which such mortgage loans are made pursuant to loan documents reasonably approved by Agent.
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Borrowing Base Loan. Each of the loans which has been approved by the Agent and the Required Lenders for inclusion in the calculation of Tranche B Availability within the Borrowing Base Availability in accordance with the terms of this Agreement, and which is secured by a first priority mortgage loan on a Self-Storage Property which constitutes Eligible Real Estate and satisfies the conditions of §7.19, and which such mortgage loans are made pursuant to the forms of loan documents previously approved by Agent, and is pledged to Agent as Collateral pursuant to the Assignment of Documents.
Sample 1
Borrowing Base Loan. Lender agrees to lend to Borrower, and Borrower agrees to borrow from Lender, from time to time, an amount (the "Borrowing Base") up to (i) 80% of the net amount of Eligible Accounts (as defined below), plus (ii) 50% of the net amount of Eligible Inventory (as defined below) up to a maximum of $1,750,000.00; provided, however, the total of such loan (the "Borrowing Base Loan") shall not to exceed in the aggregate at any one time $3,500,000.00. In the event that, at any time, the aggregate amount of indebtedness outstanding shall exceed the Borrowing Base, Borrower agrees to immediately repay to Lender the amount necessary to cause the outstanding balance of the Borrowing Base Loan to be no more than the Borrowing Base. Advances of the Borrowing Base Loan shall be utilized by Borrower solely for working capital. Provided that Borrower shall comply with the covenants contained in this Loan Agreement and the other Loan Documents, the Borrowing Base Loan shall be extended to Borrower until three hundred sixty-four (364) days after the date of this Loan Agreement (the "Borrowing Base Termination Date"), at which time all sums advanced hereunder shall be due and payable in full. Within the limits of this paragraph, Borrower may borrow, repay and re-borrow hereunder in accordance with the terms of this Loan Agreement. Borrower shall give Lender not less than 2 Business Days' prior notice of each requested advance specifying (i) the aggregate amount of such requested advance, and (ii) the requested date of such advance.
Sample 1
Borrowing Base Loan. The Borrowing Base Loan shall bear interest at the greater of (i) five percent (5.00%) per annum or (ii) the Adjusted LIBO Rate plus four percent (4.00%) per annum.
Sample 1
Borrowing Base Loan. Each of the loans which has been approved by the Agent and, prior to the Release of Security Date, the Borrowing Base Majority Lenders for inclusion in the calculation of Borrowing Base Availability in accordance with the terms of this Agreement, and which is secured by a first priority mortgage loan on a Medical Property which constitutes Eligible Real Estate and satisfies the conditions of §7.20, and which such mortgage loans are made pursuant to loan documents reasonably approved by Agent, and provided that the Release of Security Date has not occurred, is pledged to Agent as Collateral pursuant to the Assignment of Documents.
Sample 1

Related to Borrowing Base Loan

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Borrowing Base Deficiency If at any time there exists a Borrowing Base Deficiency the Borrower shall cure same in accordance with Section 2.06 hereof.

  • Borrowing Base Certificate The Administrative Agent shall have received a Borrowing Base Certificate which calculates the Borrowing Base as of the end of the month immediately preceding the Effective Date.

  • Revolving Advances Subject to the terms and conditions set forth in this Agreement, each Lender, severally and not jointly, will make Revolving Advances to Borrower in aggregate amounts outstanding at any time equal to such Lender's Commitment Percentage of the lesser of (x) the Maximum Revolving Advance Amount less the aggregate amount of outstanding Letters of Credit or (y) an amount equal to the sum of:

  • Revolver Advances (a) Subject to the terms and conditions of this Agreement, and during the term of this Agreement, each Lender with a Revolver Commitment agrees (severally, not jointly or jointly and severally) to make revolving loans (“Advances”) to Borrower in an amount at any one time outstanding not to exceed the lesser of:

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