Examples of Borrowing Base Certificate in a sentence
As provided in Section 2.03, the Administrative Agent shall have received a Borrowing Request and a Borrowing Base Certificate executed by the Borrower.
Although the Loan Agreement and Borrowing Base Certificate make clear that Proficio was providing a revolving loan, the nature of the loan by itself does not support the conclusion that Southington was warranting Wire Source’s financial status into the future.
Specifically, at 1:37 pm on July 20, 2009, Matt Smith, a trust officer of BOA provided a Borrowing Base Certificate to Sumeet Wadhera, showing Ocala to be solvent.
The Borrowing Base Condition was set forth on Borrowing Base Certificate.The Depositary Agreement required that BOA receive a Borrowing Base Certificate from an agent of Ocala prior to the issuance of any Ocala Notes, and required BOA to certify as to the assets and liabilities of Ocala and the satisfaction of the Borrowing Base Condition.
Second, the $1.85 billion total set forth in the Borrowing Base Certificate included a purported $1.3 billion in mortgages owned by Ocala.