Short Margin Clause Samples

Short Margin. If, at any time, the aggregate Outstanding Advances under the Operating Facility (including the Subfacility) exceed the lesser of (i) the Operating Facility Limit or the Subfacility Limit, as applicable, and (ii) the Borrowing Base reflected on the most recently provided Borrowing Base Certificate or U.S. Borrowing Base Certificate, as applicable, the respective Borrower shall have three (3) Business Days to repay such excess to the Operating Lender or the U.S. Operating Lender, as applicable. If at any time the Outstanding Obligations under the MasterCard Facility exceed the MasterCard Facility Limit, the Canadian Borrower shall have three (3) Business Days to repay such excess to the Operating Lender.