Borrowing Base Agent definition

Borrowing Base Agent means CNAI, Bank of America, N.A., General Electric Capital Corporation and ▇▇▇▇▇ Fargo Bank, N.A. (in each case, until the resignation thereof in accordance with Article VIII hereof); provided that any determination that is required to be made by the “Borrowing Base Agent” pursuant to this Agreement (including under Section 5.08(b)) shall require, and become effective with, the agreement of all Borrowing Base Agents; provided, however, in the event that the Borrowing Base Agents cannot agree on any issue requiring the determination or approval of the Borrowing Base Agent, including the Borrowing Base Amount, the Estimated Borrowing Base Amount, the determination of eligibility standards for the Borrowing Base Amount and Estimated Borrowing Base Amount, the imposition of reserves, borrowing base reporting, appraisals or examinations or any other action or determination required of the Borrowing Base Agent under the Senior Loan Documents, the determination shall be made by the Borrowing Base Agent asserting the most conservative credit judgment.
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Borrowing Base Agent means, collectively, CNAI, Bank of America, N.A., General Electric Capital Corporation and W▇▇▇▇ Fargo Bank, N.A. (in each case, until the resignation thereof in accordance with Article VIII hereof); provided that any determination that is required to be made by the “Borrowing Base Agent” pursuant to this Agreement (including under Section 5.08(b)) shall require, and become effective with, the agreement of all Borrowing Base Agents; provided, however, in the event that the Borrowing Base Agents cannot agree on any issue requiring the determination or approval of the Borrowing Base Agent, including the Borrowing Base Amount, the determination of eligibility standards for the Borrowing Base Amount, the imposition of reserves, borrowing base reporting, appraisals or examinations or any other action or determination required of the Borrowing Base Agent under the Senior Loan Documents, the determination shall be made by the Borrowing Base Agent asserting the most conservative credit judgment.
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Borrowing Base Agent means The CIT Group/Commercial Services, Inc., in its capacity as borrowing base agent, together with its permitted successors and assigns in accordance with Section 9.7.
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Examples of Borrowing Base Agent in a sentence

  • Notwithstanding the foregoing, the Agents, the Borrowing Base Agent and the Lenders wish (and the Credit Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agents’, the Borrowing Base Agent’s and the Lenders’ rights, interests, security and/or remedies under the Credit Agreement and the other Credit Documents.

  • The Borrower will pay on demand all reasonable fees, costs and expenses of the Agents, the Borrowing Base Agent and the Lenders in connection with the preparation, execution and delivery of this Amendment and all documents incidental hereto, including, without limitation, the reasonable fees, disbursements and other charges of ▇▇▇▇▇▇▇ ▇▇▇▇ & ▇▇▇▇▇ LLP, counsel to Administrative Agent and Collateral Agent, and of McGuireWoods LLP, counsel to Borrowing Base Agent.

  • The Borrower shall pay the reasonable fees and expenses of any representatives retained by a the Borrowing Base Agent to conduct any such inspection.

  • The Borrower will pay on demand all reasonable fees, costs and expenses of the Agents, the Borrowing Base Agent and the Lenders in connection with the preparation, execution and delivery of this Amendment and all documents incidental hereto, including, without limitation, the reasonable fees, disbursements and other charges of Schulte R▇▇▇ & ▇a▇▇▇ LLP, ▇▇▇nsel to Administrative Agent and Collateral Agent, and of McGuireWoods LLP, counsel to Borrowing Base Agent.

  • The Borrower shall pay the reasonable fees and expenses of any representatives retained by the Borrowing Base Agent to conduct any such evaluation or appraisal (it being understood that the third party representatives retained by the Borrowing Base Agent shall conduct any such evaluation or appraisal on behalf of each Borrowing Base Agent and no individual Borrowing Base Agent may retain its own representative to conduct any such evaluation or appraisal).

  • The Borrower also agrees to provide to the Collateral Agent or the Borrowing Base Agent, from time to time upon request by either of them, evidence reasonably satisfactory to the Collateral Agent or the Borrowing Base Agent, as applicable, as to the perfection and priority of the Liens created or intended to be created by the Senior Collateral Documents.

  • Promptly following any redetermination of the Borrowing Base, Agent shall notify in writing Borrower and the Lenders of the new Borrowing Base and/or Monthly Reduction Amount.

  • This Section 2.20(e) may not be amended, modified or waived without the prior written consent of the Borrowing Base Agent.

  • The Credit Parties agree to pay the (i) the examiner’s out-of-pocket costs and expenses incurred in connection with all such visits, audits, inspections, valuations and field examinations and (ii) the costs of all visits, audits, inspections, valuations and field examinations conducted by a third party on behalf of the Agents, Borrowing Base Agent and the Lenders.

  • Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby and, to the extent expressly contemplated hereby, Affiliates of each of the Agents, Borrowing Base Agent and Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement.


More Definitions of Borrowing Base Agent

Borrowing Base Agent means Wachovia Capital Finance Corporation (New England), a Massachusetts corporation, in its capacity as borrowing base agent, together with its permitted successors and assigns in accordance with Section 9.7.
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Borrowing Base Agent means CNAI, Bank of America, N.A., General Electric Capital Corporation and ▇▇▇▇▇ Fargo Retail Finance, LLC (in each case, until the resignation thereof in accordance with Article VIII hereof); provided that any determination that is required to be made by the “Borrowing Base Agent” pursuant to this Agreement shall require, and become effective with, the agreement of all Borrowing Base Agents; provided, however, in the event that the Borrowing Base Agents cannot agree on any issue requiring the determination or approval of the Borrowing Base Agent, including the Borrowing Base Amount, the Estimated Borrowing Base Amount, the determination of eligibility standards for the Borrowing Base Amount and Estimated Borrowing Base Amount, the imposition of reserves, borrowing base reporting, appraisals or examinations or any other action or determination required of the Borrowing Base Agent under the Senior Loan Documents, the determination shall be made by the Borrowing Base Agent asserting the most conservative credit judgment.
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Borrowing Base Agent means ▇▇▇▇▇ Fargo Foothill, LLC, a Delaware limited liability company, in its capacity as borrowing base agent, together with its permitted successors and assigns in accordance with Section 9.7.”
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Related to Borrowing Base Agent

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Borrowing Base Amount means:

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • 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.

  • Term Loan Administrative Agent means the administrative agent under the Term Loan Credit Agreement.