Borrowing Base B Limit definition

Borrowing Base B Limit at any time, an amount equal to 80% of the excess, if any, of the Eligible NSCC Margin Deposits at such time over the Eligible NSCC Margin Deposits in effect as at the close of business on the day in the prior calendar month (or, if the certificate for such prior calendar month with respect to Eligible NSCC Margin Deposits has not been required to be delivered pursuant to Section 5.2(c), the preceding calendar month) that was the day having the 10th lowest Eligible NSCC Margin Deposits during such calendar month.
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Borrowing Base B Limit at any time for KECS, an amount equal to 80% of the excess, if any, of the Eligible NSCC Margin Deposits of KECS at such time over the Eligible NSCC Margin Deposits of KECS in effect as at the close of business on the day in the prior calendar month (or, if the certificate for such prior calendar month with respect to its Eligible NSCC Margin Deposits has not been delivered pursuant to Section 5.2(c), the preceding calendar month) that was the day having the 10th lowest Eligible NSCC Margin Deposits of KECS during such calendar month; provided that in no event shall at any time the Borrowing Base B Limit exceed the amount of the Eligible NSCC Margin Deposits of KECS at such time.
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Examples of Borrowing Base B Limit in a sentence

  • In the event that the aggregate principal amount of outstanding Borrowing Base B Loans exceeds the Borrowing Base B Limit, the Borrower shall, on such Business Day, prepay Borrowing Base B Loans in an amount sufficient to cure such deficiency.

  • The Administrative Agent and, in the case of Swingline Loans, the Swingline Lender or Swingline Lenders, shall have received a Borrowing Request and a Pledged Eligible Assets Notice or a Borrowing Base B Limit Notice, as applicable and each required telephonic notice provided in Sections 2.2(a) and 2.4(a), as applicable.

  • In the event that the aggregate principal amount of outstanding Borrowing Base B Loans exceeds the Borrowing Base B Limit, KECS shall, on such Business Day, prepay Borrowing Base B Loans in an amount sufficient to cure such deficiency.

  • The Administrative Agent and, in the case of Swingline Loans, the Swingline Lender or Swingline Lenders, shall have received a Borrowing Request and a Borrowing Base A Limit Notice or a Borrowing Base B Limit Notice, as applicable, and each required telephonic notice provided in Sections 2.2(a) and 2.4(a), as applicable.

  • After giving effect to the requested extension of Credit, there shall be no Deficiency with respect to any Loan and the outstanding Borrowing Base B Loans shall not exceed the Borrowing Base B Limit.