Base Loan Amount definition
Examples of Base Loan Amount in a sentence
Permit the aggregate principal amount of all outstanding Advances at any time to exceed the Borrowing Base Loan Amount.
To the extent that all or part of the Loan repre- sents "Market Loss" (defined below) on the sale of your former residence in Wyckoff, New Jersey, that portion of the Loan ("Base Loan Amount") shall automatically be reduced, on the first day of each month during your continued employment with the Company, beginning on August 1, 1995, by an amount computed by dividing the Base Loan Amount by 24.
Notwithstanding the foregoing or anything herein to the contrary, if either (i) an Event of Default under Section 12.1(a) has occurred which has not been waived or (ii) the Aggregate Advances exceed the Borrowing Base Loan Amount, then without Agent’s prior written consent, no Subsidiary Guarantor shall be permitted to make any distributions to any partners, shareholders or members.
The Administrative Agent shall notify the Administrative Borrower in writing of any calculation errors or other errors in the calculation of Borrowing Base Net Operating Income required by the Administrative Agent pursuant to the definition of “Borrowing Base Net Operating Income” herein and any corresponding adjustments to the Borrowing Base Loan Amount (if any).
In addition to such times as Borrowers shall be required to deliver a Borrowing Base Certificate, Agent shall have the right to calculate the Borrowing Base Loan Amount at any time and from time to time.
You shall not be required to pay any interest on the Loan, and the Company shall tax protect you for the amount of the Base Loan Amount reduced hereunder by paying you additional compensation sufficient to reimburse you for the federal and state income tax, at your highest marginal rate, that you are required to pay on both the forgiveness of debt income and such additional compensation ("Tax Reimbursement").
Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans to Borrowers from time to time during the Availability Period in an aggregate principal amount that will not result in (a) such Lender’s Credit Exposure exceeding such Lender’s Commitment and (b) the aggregate Credit Exposures exceeding the Borrowing Base Loan Amount; provided, that, Lenders shall not be obligated to make more than two (2) Loans in any calendar month.
Borrower agrees to pay to Agent (i) on demand the amount by which the indebtedness hereunder, at any time, may exceed the Commitment Amount or (ii) within thirty (30) days after demand, the amount by which the indebtedness hereunder, at any time, may exceed the Borrowing Base Loan Amount.
The Base Loan Amount shall be determined by your furnishing the Company's Chief Financial Officer with satis- factory documentation of the Market Loss.
The Property Release Price shall mean the minimum amount which, if paid to reduce the outstanding principal balance of the Loan, will result in (i) Borrower continuing to be in compliance with the covenants set forth in Section 9.3 and (ii) the Borrowing Base Loan Amount not being exceeded.