Borrowing Base Ratio. If on any BB Test Date it is determined that a BB Event has occurred and is continuing, the Borrower shall, on the next Payment Date, prepay the Loan in accordance with Section 4.02(a)(viii) of the Intercreditor Agreement; provided that the Borrower shall be permitted to deposit or pledge Additional Security pursuant to Section 6.10 in an amount sufficient to ensure that a BB Event is not continuing after giving effect to such pledge or deposit.
Borrowing Base Ratio. The Borrower shall not permit the ratio of (a) the remainder of (i) all liabilities, obligations, and indebtedness of the Borrower minus (ii) all Subordinated Debt (numerator) to (b) Borrowing Base Amount (denominator) (the “Borrowing Base Ratio”) to be, at any time, more than: 3.00 to 1. As of any date of calculation of the Borrowing Base Ratio, Borrower’s Adjusted Tangible Net Worth shall be reduced by the sum of the Charge Off Shortfall and the Loss Reserve Shortfall, as of such date, if any.
Borrowing Base Ratio. No later than the second Business Day following each date upon which a Borrowing Base Certificate is delivered pursuant to Section 5.01(k) after the Closing Date, Borrower shall prepay Loans as set forth in Section 2.14(a) in an aggregate amount sufficient to cause the Borrowing Base Ratio, as of the last day of such fiscal month (or such week, if weekly), on a pro forma basis giving effect to such prepayment, to be no less than 100%.
Borrowing Base Ratio. Borrowers shall not permit the ratio of (a) all Debt (other than Subordinated Debt), including Borrowers’ Obligations (excluding any Bank Product Obligations) to Agent and Lenders (numerator), to (b) Borrowing Base (denominator), to exceed 4:1, at any time. All amounts calculated under this Paragraph 8.4 shall be calculated on a consolidated basis for all corporations comprising Borrowers and RMC Reinsurance.”
Borrowing Base Ratio. The Borrowing Base Ratio, as measured on the last business day of each calendar month during the Regular Amortization Period, shall be equal to or greater than one hundred forty-three percent (143%).
Borrowing Base Ratio. The Borrower shall not permit the ratio of (a) the remainder of (i) all liabilities, obligations, and indebtedness of the Borrower minus (ii) all Subordinated Debt (numerator) to (b) Borrowing Base Amount (denominator) to be, at any time, more than: 5 to 1.
Borrowing Base Ratio. No later than the second Business Day following each date upon which a Borrowing Base Certificate is due to be delivered pursuant to Section 4.1, Borrower shall prepay Loans as set forth in Section 2.14(a) in an aggregate amount sufficient to cause the Borrowing Base Ratio, as of the last day of such fiscal month, on a pro forma basis giving effect to such prepayment, to be no less than 100%. For the avoidance of doubt, any prepayments of the principal amount of the Term Loan pursuant to this Section 1.7(d) shall be subject to the Exit Fee (to the extent such principal payment results in a MOIC Trigger Event) and shall be accompanied by interest on the amount so repaid.
Borrowing Base Ratio. Borrowers shall not permit the ratio of (a) all Debt (other than Subordinated Debt), including Borrowers’ Obligations (excluding any Bank Product Obligations) to Agent and Lenders (numerator), to (b) Borrowing Base (denominator), (i) to exceed 4.25:1, for the period beginning December 1 and ending on the last calendar day of February of the following year and (ii) to exceed 4:00:1, at all other times. All amounts calculated under this Paragraph 8.4 shall be calculated on a consolidated basis for all corporations comprising Borrowers and RMC Reinsurance.”
Borrowing Base Ratio. The Parent Guarantor will not permit, at any time, (a) the sum of (i) the aggregate outstanding principal amount of the Notes plus (ii) the aggregate outstanding principal amount of all other Debt secured by the Security Agreement to exceed (b) the Borrowing Base.
Borrowing Base Ratio. Borrowers shall not permit the ratio of (a) all Debt (other than Subordinated Debt), including Borrowers’ Obligations (excluding any Bank Product Obligations) to Agent and Lenders (numerator), to (b) Borrowing Base (denominator) (such ratio, the “Borrowing Base Ratio”), to exceed (i) 3.50:1, at any time prior to the consummation of the Approved IPO, and (ii) 3:00:1, upon and after the consummation of the Approved IPO. All amounts calculated under this Paragraph 8.4 shall be calculated on a consolidated basis for all corporations comprising Borrowers and RMC Reinsurance.
