Aggregate Borrowing Base Asset Value definition

Aggregate Borrowing Base Asset Value means, as of any date of determination, the sum of the Borrowing Base Asset Value of each Qualified Asset owned by the Borrower or any other Credit Party.
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Aggregate Borrowing Base Asset Value means, as of any date of determination, the aggregate Borrowing Base Asset Values of all Borrowing Base Assets at such time; provided that (i) not more than thirty five percent (35%) of Aggregate Borrowing Base Asset Value may be in respect of a single Borrowing Base Asset, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period, (ii) not more than thirty percent (30%) of Aggregate Borrowing Base Asset Value may be in respect of Borrowing Base Assets located in any one metropolitan statistical area, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period, provided however, that the Portland metropolitan statistical area (“MSA”) shall be exempt from the limitation so long as no additional Borrowing Base Asset located in the Portland MSA is added to the Borrowing Base Pool after the Closing Date, and if Borrower requests an additional Portland MSA Borrowing Base Asset to be added to the Borrowing Base Pool, the exemption shall no longer apply, (iii) not more than thirty percent (30%) of Aggregate Borrowing Base Asset Value for any period may be in respect of Borrowing Base Assets that are subject to Qualifying Ground Leases, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period, (iv) not more than twenty percent (20%) of Aggregate Borrowing Base Asset Value for any period may be in respect of Borrowing Base Assets that are not operated under a nationally recognized brand subject to a Franchise Agreement with an Approved Franchisor, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period and (v) no less than four (4) Hotel Assets must, at all times, qualify as Borrowing Base Assets or the Aggregate Borrowing Base Asset Value shall be deemed to be zero.
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Aggregate Borrowing Base Asset Value means, as of any date of determination, the aggregate Borrowing Base Asset Values of all Borrowing Base Assets at such time; provided that (i) not more than thirty-five percent (35%) of Aggregate Borrowing Base Asset Value may be in respect of a single Borrowing Base Asset, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period, (ii) not more than thirty percent (30%) of Aggregate Borrowing Base Asset Value may be in respect of Borrowing Base Assets located in any one metropolitan statistical area (other than the Dallas metropolitan statistical area), with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period, (iii) not more than thirty percent (30%) of Aggregate Borrowing Base Asset Value for any period may be in respect of Borrowing Base Assets that are subject to Qualifying Ground Leases, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period, (iv) not more than twenty percent (20%) of Aggregate Borrowing Base Asset Value for any period may be in respect of Borrowing Base Assets that are not operated under a nationally recognized brand subject to a Franchise Agreement with an Approved Franchisor, with any excess over such limit being excluded from Aggregate Borrowing Base Asset Value for such period and (v) no less than ten (10) Hotel Assets must, at all times, qualify as Borrowing Base Assets or the Aggregate Borrowing Base Asset Value shall be deemed to be zero.
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Examples of Aggregate Borrowing Base Asset Value in a sentence

  • Each Borrowing Base Asset included in any calculation of the Aggregate Borrowing Base Asset Value is, at the time of such calculation, an Eligible Asset.

Related to Aggregate Borrowing Base Asset Value

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Aggregate Assets means the value of the Sub-Advised Assets and the Other Accounts on the Valuation Date during the applicable calendar month. The values for the Sub-Advised Assets and Other Accounts shall be as reported by the applicable custodian and fund administrator.

  • Aggregate Collateral Balance means, as at any Measurement Date, the amount equal to the aggregate of the following amounts, as at such Measurement Date:

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Aggregate Funded Spread means, as of any date, the sum of:

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Adjusted Collateral Principal Amount means, as of any date of determination:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Aggregate Value means, with respect to any block of Equity Stock, the sum of the products of (i) the number of shares of each class of Equity Stock within such block multiplied by (ii) the corresponding Market Price of one share of Equity Stock of such class.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Revolving Interest Rate means, with respect to Revolving Advances, an interest rate per annum equal to (a) the lesser of (i) the sum of the Alternate Base Rate plus the Applicable Revolving Domestic Rate Margin and (ii) the Maximum Rate, with respect to Domestic Rate Loans, and (b) the lesser of (i) the sum of the Eurodollar Rate plus the Applicable Revolving Eurodollar Rate Margin and (ii) the Maximum Rate, with respect to the Eurodollar Rate Loans.

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.