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.
Appears in 6 contracts
Sources: Credit Agreement (Atlas Corp.), Credit Agreement (Atlas Corp.), Credit Agreement (Atlas Corp.)
Borrowing Base Ratio. If on any BB Test Date it is determined that a BB Event has occurred and is continuing, the Borrower Company shall, on the next Payment Date, prepay the Loan Notes in accordance with Section 4.02(a)(viii) of the Intercreditor Agreement; provided that the Borrower Company shall be permitted to deposit or pledge Additional Security pursuant to Section 6.10 10.10 in an amount sufficient to ensure that a BB Event is not continuing after giving effect to such pledge or deposit.
Appears in 2 contracts
Sources: Note Purchase Agreement (Atlas Corp.), Note Purchase Agreement (Atlas Corp.)