Borrowing Base definition

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

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Borrowing Base means, as of any date of determination, the result of:

Borrowing Base has the meaning set forth in Section 2.1.

Examples of Borrowing Base in a sentence

The Purchaser may on the last day of the month in which any Receivables are sold into a securitization transaction distribute any Ineligible Receivables to the Seller as a dividend, free of the deemed security interest referred to in Section 2.2; provided that there is no Borrowing Base Deficiency immediately after such dividend.
The Borrower shall deliver to the Administrative Agent, together with each Borrowing Request, a Borrowing Base Certificate in accordance with Section 2.03(a) hereof.
The Borrower shall submit (y) in the case of the Class A Lenders, no more than two (2) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Administrative Agent, and (y) in the case of the Class B Lenders, no more than one (1) Borrowing Requests (and accompanying Addition Notices and Borrowing Base Certificates) per week, unless otherwise agreed by the Class B Lenders.
On each Settlement Date as of which any portion of such Borrowing Base Deficiency shall remain outstanding, any amount otherwise payable to the Borrower on such Settlement Date pursuant to Section 5.7(a)(xi) of the Sale and Servicing Agreement shall instead be paid to the Administrative Agent (for the account of the Lenders) on such Settlement Date as a prepayment of the Class A Loan Balance or the Class B Loan Balance, as applicable.
The Borrower may on the last day of the month in which any Receivables are sold into a Securitization distribute any Ineligible Receivables to the Seller as a dividend, free of the deemed security interest referred to in Section 3.1 of this Agreement and Section 2.1(e) of the Purchase Agreement; provided that there is no Borrowing Base Deficiency immediately after such dividend.

More Definitions of Borrowing Base

Borrowing Base has the meaning assigned to such term in Section 5.13.

Borrowing Base means, at any time, the sum of:

Borrowing Base means at any time the lesser of:

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

Borrowing Base means an amount equal to eighty percent (80%) of Eligible Accounts, as determined by Bank with reference to the most recent Borrowing Base Certificate delivered by Borrower.

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

Borrowing Base is 80% of Eligible Accounts, as determined by Bank from Borrower’s most recent Transaction Report; provided, however, that Bank may decrease the foregoing percentage in its good faith business judgment based on events, conditions, contingencies, or risks which, as determined by Bank, may adversely affect Collateral.