Banking Case definition

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Banking Case means a consolidated cashflow and debt service projection in respect of the Parent Obligor Group prepared or to be prepared pursuant to this Agreement including:

Banking Case means, with respect to a Banking Case Date, a financial asset model in respect of the Borrowing Base Assets in Microsoft Excel format prepared by the Technical Agent in consultation with the Borrowers, and approved (or deemed approved) by the Supermajority Lenders, but containing at a minimum the Borrowing Base Amount, CFADS, Current Ratio, Debt Service Coverage Ratio, Field Life Coverage Ratio, Loan Life Coverage Ratio, Maximum Available Amount, Projected Operating Revenues, Projected Operating Costs and working capital availability for each Calculation Period and each Calculation Date from that Banking Case Date to the last Abandonment Date. The Banking Case shall be prepared by the Technical Agent using pricing and technical assumptions approved by the Supermajority Lenders.

Examples of Banking Case in a sentence

Such initial Borrowing Base Amount and Banking Case shall be subject to re-determination from time to time in accordance with this ARTICLE 3.
The Supermajority Lenders shall have received and approved a Banking Case with respect to the Closing Date.
The Technical Agent may, in its reasonable discretion, request that the draft Exceptional Banking Case be reviewed and verified by the Independent Reserves Engineer prior to its delivery to the Borrowers, and the reasonable, documented fees and expenses of the Independent Reserves Engineer in connection with such review and verification shall be borne by the Borrowers.
In re-determining the Banking Case and the Borrowing Base Amount, the Supermajority Lenders may also consider the business, financial condition, and Indebtedness of the Borrowers and any of their Subsidiaries, any Hydrocarbon Hedge Agreements and such other factors as they customarily deem appropriate.
The Technical Agent may, in its reasonable discretion, request that the draft Banking Case be reviewed and verified by the Independent Reserves Engineer prior to its delivery to the Borrowers, and the reasonable, documented fees and expenses of the Independent Reserves Engineer in connection with such review and verification shall be borne by the Borrowers.
The Borrowers and the Technical Agent shall agree on a proposed Banking Case to be delivered to the Lenders as soon as reasonably practicable, and in any event, no later than twenty (20) days prior to such Banking Case Date; provided always that if a proposed Banking Case is not agreed upon by such time, the Banking Case in effect on the most recent Banking Case Date shall be deemed to be the proposed Banking Case.
The Technical Banks and the Modelling Bank (though the Agent) shall confirm to the Obligors’ Agent and the Lenders, the Borrowing Base Amount for each Calculation Period ending on or before the Facility Maturity Date that will be applicable upon the adoption of such Banking Case.
If an Exceptional Banking Case Date is specified under Section 3.3(a), the Borrowers shall deliver to the Technical Agent such additional information as the Technical Agent may reasonably request in order to prepare the Exceptional Banking Case.
Concurrently with the delivery of each Independent Reserves Report and Internal Reserves Report, the Borrowers shall also deliver to the Administrative Agent (with sufficient copies for each Lender) a Corporate Cashflow Projection effective as of the immediately upcoming Banking Case Date.
The Technical Agent shall deliver the proposed Banking Case to the Borrowers and the Lenders no later than twenty (20) days prior to such Banking Case Date.

More Definitions of Banking Case

Banking Case means the banking case in the agreed form based on the Financial Projections;

Banking Case means the financial model which generates: