Canadian Borrowing Base Sample Clauses

Canadian Borrowing Base. Canadian Borrower shall from time to time on demand by Canadian Agent prepay the Canadian Revolving Loans (or provide Cover for Letter of Credit Liabilities relating to Canadian Letters of Credit) in such amounts as shall be necessary so that at all times the aggregate outstanding amount of all Canadian Obligations shall be less than or equal to the Maximum Canadian Available Amount (provided, however, that for purposes of this clause (4), the Exchange Rate used for conversion of Canadian Dollars into Dollars shall be the Exchange Rate as of the most recently occurring Calculation Date).
Canadian Borrowing Base. The definition of “Canadian Borrowing Base” in Section 1.01 of the Credit Agreement is hereby amended by inserting immediately prior to the phrase “or the Canadian Collateral” the following phrase: “, the Canadian Finance Obligations”.
Canadian Borrowing Base. The Borrowing Base solely in relation to the Canadian Borrower. Canadian Collateral. Collateral to which title is held by, and in which a security interest is granted to the Agent on behalf of the Canadian Bank by, the Canadian Borrower.
Canadian Borrowing Base. Clauses (a) through (c) of the definition of “Canadian Borrowing Base” shall be amended and restated in their entirety with the following clauses (a) through (d) to read as follows:
Canadian Borrowing Base on any date of determination, an amount equal to the lesser of (a) the Maximum Canadian Facility Amount minus (x) the Canadian Priority Payables Reserve minus (y) the Wage Earner Protection Act Reserve minus (z) the Canadian LC Reserve; and (b) (1) the sum of (x) 85% of the Value of Eligible Accounts of the Canadian Domiciled Loan Parties; plus (y) the lesser of (i) 70% of the Value of Eligible Inventory of the Canadian Domiciled Loan Parties; and (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory of the Canadian Domiciled Loan Parties, minus (2) the Canadian Availability Reserve.
Canadian Borrowing Base. By the 21st day following the end of each Fiscal Month, Borrower Agent shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Canadian Borrowing Base Certificate prepared as of the close of business of the previous Fiscal Month, and, while an Event of Default exists, at such other times as Agent may request. All calculations of Canadian Availability in any Borrowing Base Certificate shall originally be made by Canadian Credit Parties and certified by a Senior Officer, provided that Agent may from time to time review and adjust any such calculation (i) to reflect its reasonable estimate of declines in value of any Canadian Collateral; (ii) to adjust advance rates to reflect changes in dilution, quality, mix and other factors affecting Canadian Collateral, as determined in the Agent's Credit Judgment; and (iii) to the extent the calculation is not made in accordance with this Agreement or does not accurately reflect the Canadian Availability Reserve.
Canadian Borrowing Base. Section 1.15(a) of the Loan Agreement is hereby amended by deleting such Section in its entirety and substituting the following therefor:
Canadian Borrowing Base at any time, with respect to the Applicable Canadian Borrower, an amount equal to the sum (expressed in Dollars, based on the Dollar Equivalent thereof) of, without duplication:
Canadian Borrowing Base on any date of determination, an amount equal to the lesser of (a) the Canadian Revolver Commitments; or (b) the sum of, without duplication of the following (expressed in U.S. Dollars based on the Dollar Equivalent thereof):