Common use of Rebalancing Clause in Contracts

Rebalancing. In the event that any Borrowing Base Shortfall exists on any Remittance Date (after giving effect to any available Collections to cure such Borrowing Base Shortfall on such Remittance Date), Borrower shall cure the Borrowing Base Shortfall no later than the immediately following Business Day; provided, however, that if such Remittance Date is during the Draw Period, then Borrower shall have the option to arrange for an Originator to contribute or assign to Borrower, an amount of Eligible Receivables, in lieu of cash, in an amount sufficient, in the aggregate, to cure such Borrowing Base Shortfall; and provided, further, that, without limitation on the application of Collections pursuant to Section 2.6(b), Borrower shall have until the 30th day following the commencement of a Level 1 Portfolio Trigger Event Period to cure the related Borrowing Base Shortfall caused by the applicable reduction in Advance Rate.

Rebalancing. In the event that any Borrowing Base Shortfall exists on any Remittance Date (after giving effect to any available Collections to cure such Borrowing Base Shortfall on such Remittance Date), Borrower shall cure the Borrowing Base Shortfall no later than the immediately following Business Day; provided, however, that if such Remittance Date is during the Draw Period, then Borrower shall have the option to arrange for an Originator a Seller to contribute or assign to Borrower, an amount of Eligible ReceivablesLeases, in lieu of cash, in an amount sufficient, in the aggregate, to cure such Borrowing Base Shortfall; and provided, further, that, without limitation on the application of Collections pursuant to Section 2.6(b), Borrower shall have until the 30th day following the commencement of a Level 1 Portfolio Trigger Event Period to cure the related Borrowing Base Shortfall caused by the applicable reduction in Advance Rate.

Rebalancing. In the event that any Borrowing Base Shortfall exists on any Remittance Date (after giving effect to any available Collections to cure such Borrowing Base Shortfall on such Remittance Date), Borrower shall cure the Borrowing Base Shortfall no later than the immediately following Business Day; provided, however, that if such Remittance Date is during the Draw Period, then Borrower shall have the option to arrange for an Originator to contribute or assign to Borrower, an amount of Eligible Receivables, in lieu of cash, in an amount sufficient, in the aggregate, to cure such Borrowing Base Shortfall; and provided, further, that, without limitation on the application of Collections pursuant to Section 2.6(b), Borrower shall have until the 30th day following the commencement of a Level 1 Portfolio Trigger Event Period to cure the related Borrowing Base Shortfall caused by the applicable reduction in Advance Rate.. ​ [TMX] ABL Agreement