Borrowing Base Covenants definition
Borrowing Base Covenants means the covenants in Section 6.12.
Borrowing Base Covenants the meaning specified in subsection 1.2.
Borrowing Base Covenants means the covenants set forth in Section 5.02(o) and Sections 5.04(h) and (i).
Examples of Borrowing Base Covenants in a sentence
Determinations of compliance with the Financial Covenants and the Borrowing Base Covenants shall be made on a pro forma basis (as defined below).
In addition to calculating the Borrowing Base Covenants on the dates provided above, the Borrowing Base Covenants shall be tested on each Test Date and shall be made on a pro forma basis after giving effect to the transactions occurring on such Test Date.
More Definitions of Borrowing Base Covenants
Borrowing Base Covenants means the covenants set forth in Section 5.05. “Borrowing Base Interest Coverage Ratio” means, at any date of determination, the ratio of Borrowing Base Adjusted NOI to Assumed Unsecured Interest Expense. “Borrowing Base Leverage Ratio” means, at any date of determination, the ratio of Total Outstandings to Aggregate Borrowing Base Asset Value. “Borrowing Base Pool” means, at any time, a collective reference to the Borrowing Base Assets that are included in a calculation of Aggregate Borrowing Base Asset Value made at such time. “Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close under the laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located. “Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases. “Cash Equivalents” means any of the following, to the extent owned by the applicable Loan Party or any of its Subsidiaries free and clear of all Liens and having a maturity of not greater than ninety (90) days from the date of issuance thereof: (a) readily marketable direct obligations of the Government of the United States or any agency or instrumentality thereof or obligations unconditionally guaranteed by the full faith and credit of the Government of the United States, (b) certificates of deposit of or time deposits with any commercial bank that is a Lender or a member of the Federal Reserve System, which issues (or the parent of which issues) commercial paper rated as described in clause (c) below, is organized under the laws of the United States or any State thereof and has combined capital and surplus of at least $1,000,000,000 or (c) commercial paper in an aggregate amount of not more than $50,000,000 per issuer outstanding at any time, issued by any corporation organized under the laws of any State of the United States and rated at least “Prime-1” (or the then equivalent grade) by ▇▇▇▇▇’▇ or “A-1” (or the then equivalent grade) by S&P. “CERCLA” means the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended from time to time.