Borrowing Base Advances definition

Borrowing Base Advances mean the lesser of (i) 80% of present value of the cash flow stream from the underlying leases or (ii) the original underlying lease amount.
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Borrowing Base Advances means a cash advance or cash advances under the Borrowing Base Facility.
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Borrowing Base Advances means all Revolving Loan advances.
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Examples of Borrowing Base Advances in a sentence

  • Borrower understands and agrees that the inspection of the Units by or on behalf of the Lender, the review by the Lender or others acting on behalf of the Lender of Draw Requests and related documents and information, the making of Borrowing Base Advances by the Lender, any actions by the Lender under SECTION 6.12, and any other actions by the Lender will not be a waiver of the right to require compliance with this SECTION 6.10.

  • Subject to the terms and conditions of this Agreement and from time to time prior to the Maturity Date, the Lender agrees to make Borrowing Base Advances to Borrower up to the current Available Borrowing Base Commitment as determined pursuant to the most current Borrowing Base Reconciliation Report.

  • The Lender has no duty to monitor for Borrower or to report to Borrower the use of proceeds of Borrowing Base Advances.

  • If any of the limitations on Eligible Collateral, Collateral Value, Outstanding Borrowings, or outstanding Borrowing Base Advances set forth in this SECTION 3.3 or elsewhere in this Agreement are exceeded, the Lender may at its option either delete Units and Eligible Lots from Eligible Collateral until such requirements are met or require Borrower to make a remargining payment pursuant to SECTION 2.9.

  • Borrowing Base Advances may be used for any general working capital purposes of Borrower, PROVIDED, HOWEVER, that the provisions of this SECTION 2.1(b) do not restrict the Lender from making Protective Advances as otherwise permitted by this Agreement (such as pursuant to SECTION 2.6(d)).

  • If requested by the Lender, Borrower shall have provided the Lender with invoices and vouchers for the work for which the Borrowing Base Advance is requested and lien waivers for all work covered by prior Borrowing Base Advances.

  • If the aggregate amount of the outstanding Advances, Borrowing Base Advances and Equipment Advances exceeds the Maximum Commitment at any time, Borrower shall immediately pay to Bank, in cash, the amount of such excess.

  • Notwithstanding the other provisions of this ARTICLE 4, the Lender will only be obligated to make Borrowing Base Advances against Eligible Collateral if Borrower, at Borrower's sole cost and expense, shall have delivered to the Lender each of the following items.

  • Except as set forth in Section 2.3(b) the Advances, the Borrowing Base Advances, and any drawn but unreimbursed amounts under the Letter of Credit shall bear interest, on the outstanding daily balance thereof, at a rate equal to 2.50% above the Prime Rate.

  • Borrower may prepay any Borrowing Base Advances without penalty or premium.


More Definitions of Borrowing Base Advances

Borrowing Base Advances means the principal amount of the advances made or to be made under the Borrowing Base Facility, as reduced from time to time by repayment or prepayment;
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Borrowing Base Advances has the meaning ascribed to such term in Section 2.1.1 hereof. "Business Day" is any day that is not a Saturday, Sunday or a day on which the Bank is closed.
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Related to Borrowing Base Advances

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

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Revolving Advances means Advances made other than Letters of Credit.

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

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

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

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

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

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • 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 Amount means:

  • Revolving Advance has the meaning given in Section 2.1.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • 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.

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

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • or "Advances means a cash advance or cash advances under the Revolving Facility.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Loan Advance The meaning specified in Section 2.2(a).