Borrowing Base Commitment definition

Borrowing Base Commitment. 11 means, with respect to each Lender, such Lender’s Applicable Percentage of the Borrowing Base.
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Borrowing Base Commitment means the agreement of Lender to make Advances on the Borrowing Base Loan pursuant to the terms and conditions of this Agreement.
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Borrowing Base Commitment means, as to any Lender on any date, such Lender’s Applicable Percentage of the Borrowing Base on such date, subject to adjustment pursuant to Section 2.02(d)(vi). The aggregate amount of all Borrowing Base Commitments on the Closing Date is $75,000,000.
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Examples of Borrowing Base Commitment in a sentence

  • Borrower may not include in Eligible Collateral more than thirty (30) Spec Units financed under the Borrowing Base Commitment.

  • After giving effect to the requested Borrowing Base Advance, the Outstanding Borrowings shall not exceed the Available Borrowing Base Commitment and no remargining payment shall be required under SECTION 2.9.

  • 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.

  • Such notice of increase must be accompanied by payment to the Bank of an amount equal to the Borrowing Base Commitment Fees specified in Section 3.1(b) which would have accrued and been invoiced by the Bank on the amount of the increase to the date of reinstatement if the amount of such increase had been included within the Production Borrowing Base at all times from the date of the Bank's notice to the Borrowers.

  • If for any reason at any time the total of Outstanding Borrowings under the Borrowing Base Loan exceeds the Available Borrowing Base Commitment (including, without limitation, by reason of Borrowing Base Commitment Amount reductions, changes in Unit Appraised Values or Eligible Lot Appraised Values, adjustments to the Borrowing Base or Collateral Value, or otherwise), Borrower will make a principal payment to the Lender in an amount equal to such excess amount.

  • In addition, if such costs, expenses and fees are not paid when due (or within such 10-day period, if applicable), the Lender shall, to the extent that such Advance will not cause the Available Borrowing Base Commitment or the Available Warehouse Commitment to be exceeded, as applicable, cause an Advance to be made to pay such costs, expenses and fees, whether or not such Advance has been requested by Borrower and whether or not the conditions precedent to an Advance have been satisfied.

  • Any such amounts which are payable by the Borrowers but which would not have been invoiced by the Bank shall be payable at the next scheduled invoice for Borrowing Base Commitment Fees.

  • For each quarter (or portion thereof), the unused commitment fee is equal to (i) the Borrowing Base Commitment Amount as in effect at the beginning of such quarter; MINUS (ii) the Average Quarterly Outstanding for such quarter (or portion thereof) with respect to which the unused commitment fee is being computed; with (iii) the resulting number being MULTIPLIED BY 0.000625 (that is, one-quarter of the annual unused commitment fee rate).

  • An "unused commitment fee" based on an annual rate of one-quarter of one percent (.25%), but calculated on a quarterly basis in arrears as of the first day of each January, April, July, and October and on the Maturity Date or the date upon which the Borrowing Base Commitment is terminated or expires, such unused commitment fee to be payable quarterly.

  • Anything in the Loan Documents to the contrary notwithstanding, the total of Outstanding Borrowings under the Borrowing Base Loan may not at any time exceed the Available Borrowing Base Commitment, and Borrower shall not be entitled to any Borrowing Base Advances if the effect thereof would be to cause the Outstanding Borrowings to exceed the Available Borrowing Base Commitment.


More Definitions of Borrowing Base Commitment

Borrowing Base Commitment means, with respect to any Lender, at any time, an amount equal to such Lender's Percentage Share of the Borrowing Base as in effect at such time.
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Related to Borrowing Base Commitment

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

  • 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.

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

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

  • 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.

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

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

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

  • Borrowing Base Amount means:

  • 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 Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • U.S. Revolving Commitment means the commitment of a Lender to make or otherwise fund any U.S. Revolving Loan and to acquire participations in U.S. Letters of Credit and Swing Line Loans hereunder and “U.S. Revolving Commitments” means such commitments of all Lenders in the aggregate. The amount of each Lender’s U.S. Revolving Commitment, if any, is set forth on Schedule 1.01(c) or in the applicable Assignment Agreement or Joinder Agreement, as applicable, subject to any adjustment or reduction pursuant to the terms and conditions hereof. The aggregate amount of the U.S. Revolving Commitments as of the Closing Date is $265,000,000.

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

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

  • Total Revolving Commitment means, at any time, the sum of the Revolving Commitments at such time.

  • Designated Revolving Commitments means the amount or amounts of any commitments to make loans or extend credit on a revolving basis to the Company or any of its Restricted Subsidiaries by any Person other than the Company or any of its Restricted Subsidiaries that has or have been designated (but only to the extent so designated) in an Officers’ Certificate delivered to the Trustee as “Designated Revolving Commitments” until such time as the Company subsequently delivers an Officers’ Certificate to the Trustee to the effect that the amount or amounts of such commitments shall no longer constitute “Designated Revolving Commitments.”

  • Extended Revolving Commitment shall have the meaning assigned to such term in Section 2.19(a).

  • Total Revolving Loan Commitment means, at any time, the sum of the Revolving Loan Commitments of each of the Lenders at such time.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

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

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Facility A Commitment means, in relation to a Facility A Lender, the amount set opposite its name in column 1 of part E of schedule 1 or, as the case may be, in any relevant Transfer Certificate, as amended by any relevant term of this Agreement;

  • Unused Total Revolving Commitment means, at any time, the excess of (i) the Total Revolving Commitment at such time over (ii) the Aggregate Revolving Facility Exposure at such time.

  • Canadian Revolving Commitment means, as to each Canadian Revolving Lender, its obligation to make Canadian Revolving Loans to the Canadian Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Canadian Revolving Lender’s name on Schedule 2.01, in the Assignment and Assumption or other agreement pursuant to which such Canadian Revolving Lender becomes a party hereto, as such amount may be adjusted from time to time in accordance with this Agreement.