Applicable Borrowing Base definition

Applicable Borrowing Base means, with respect to a Weekly Period or any Specified Borrowing Date falling within such Weekly Period, the Borrowing Base calculated with respect to the Weekly Reset Date of such Weekly Period and identified on the most recent Borrowing Base Certificate delivered by the Borrower to the Administrative Agent pursuant to Section 2.12.

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Applicable Borrowing Base the US Borrowing Base, the UK Borrowing Base or the Canadian Borrowing Base, as the context may require.

Applicable Borrowing Base means (a) if the Tranche A-1 Commitments have been terminated at such time, the Tranche A Borrowing Base and (b) if the Tranche A-1 Commitments are outstanding at such time, the Tranche A-1 Borrowing Base.

Examples of Applicable Borrowing Base in a sentence

• In connection with any such redetermination of the Borrowing Base, the Borrower shall deliver promptly upon the request of the Administrative Agent an Alternate Reserve Report to the Administrative Agent; provided that the Borrower’s failure to deliver such Alternate Reserve Report shall not preclude or impact the making of such redetermination of the Borrowing Base by the Administrative Agent or the approval of such Borrowing Base by the Applicable Borrowing Base Lenders.

• Notwithstanding the foregoing, the Applicable Borrowing Base remains subject to adjustment due to changes in the Borrowing Base Reduction Amount as set forth in the Credit Agreement.

• If, after giving effect to the prepayment of all outstanding Swingline Loans and Revolving Credit Loans, the Aggregate Revolving Credit Outstandings exceed the Applicable Borrowing Base then in effect, the Borrowers shall Cash Collateralize the L/C Obligations to the extent of such excess.

• On the 20th day of each calendar month, a Borrowing Base Certificate showing the Applicable Borrowing Base and the calculation of Excess Availability in each case as of the close of business on the last day of the immediately preceding calendar month, each such Borrowing Base Certificate to be certified as complete and correct in all material respects on behalf of the Parent Borrower by a Financial Officer of the Parent Borrower (each a “Monthly Borrowing Base Certificate”).

• If the Aggregate Revolving Exposure exceeds the Applicable Borrowing Base at any time (an “Overadvance”), such excess amount shall be payable by Borrowers on demand by the Administrative Agent.

• The Non-Use Fee is subject to adjustment based upon the Applicable Borrowing Base Usage ratio.

• If any Swing Line Loan made to acquire, finance or improve a Borrowing Base Property remains outstanding on the last day of an Applicable Period, such Swing Line Loans shall be included in a Tranche of Term Loans used to acquire, finance or improve such Borrowing Base Property, including, without limitation, for purposes of calculating Amortizing Payments on such Tranche of Term Loans and calculating the Applicable Borrowing Base Percentage.

• The Borrowers shall deliver to the Lender not later than 2:00 p.m., Boston, Massachusetts time, on Wednesday of each week (the "Applicable Week"), by facsimile or electronic mail transmission, a Borrowing Base Certificate (the "Applicable Borrowing Base Certificate") in substantially the form of EXHIBIT B-1 hereto, setting forth the Borrowing Base as of the close of business on the last Business Day of the immediately preceding week.

• The aggregate outstanding balance of any Credit Facility shall not exceed the Applicable Borrowing Base.

• The aggregate amount of all such Letter of Credit Obligations shall not at any time exceed the least of (A) One Million Dollars ($1,000,000) (the “Letter of Credit Sublimit”), and (B) the Aggregate Revolving Commitment less the aggregate outstanding principal balance of the Revolving Loans and Swingline Loans, and (C) the Applicable Borrowing Base less the aggregate outstanding principal balance of the Revolving Loans and Swingline Loans.

More Definitions of Applicable Borrowing Base

Applicable Borrowing Base means (a) with respect to matters relating to US Revolving Loans and Letters of Credit issued for the benefit of the US Borrowers and other matters relating to the US Credit Agreement, the US Borrowing Base, and (b) with respect to matters relating to UK Revolving Loans and Letters of Credit issued for the benefit of the UK Borrowers and other matters relating to the UK Credit Agreement, the UK Borrowing Base.

Applicable Borrowing Base. Lenders shall mean the Required Borrowing Base Lenders or the Required Increasing Borrowing Base Lenders, as applicable.

Applicable Borrowing Base means (a) if the Revolving A-1 Commitments have been terminated at such time, the Revolving A Borrowing Base and (b) if the Revolving A-1 Commitments are outstanding at such time, the Revolving A-1 Borrowing Base.

Applicable Borrowing Base means the Initial Credit Line Borrowing Base, the Initial Term Loan Borrowing Base, the Second Credit Line Borrowing Base or the Second Term Loan Borrowing Base, as the context requires.

Applicable Borrowing Base means the Joint Borrowing Base and/or the German Borrowing Base and/or the Swiss Borrowing Base and/or the Joint FILO Borrowing Base, the German FILO Borrowing Base and/or the Swiss FILO Borrowing Base and/or the FILO Borrowing Base, as the context requires.

Applicable Borrowing Base means, at any time, the then effective Borrowing Base less the then effective Borrowing Base Reduction Amount.