Borrowing Base Deficiency definition
Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.
Borrowing Base Deficiency has the meaning described in Section 2.1.3 (Borrowing Base).
Borrowing Base Deficiency occurs if at any time the total Revolving Credit Exposures exceeds the Borrowing Base then in effect.
Examples of Borrowing Base Deficiency in a sentence
For the avoidance of doubt, the Borrower may cure a Borrowing Base Deficiency using any combination of clauses (i), (ii), (iii), (iv) and (v) above.
Notwithstanding anything to the contrary herein, the Borrower shall be permitted to distribute to the Equityholder (i) any Equity Security and (ii) any Collateral Asset that has an Adjusted Borrowing Value of zero if, after giving effect to such transfer, no Event of Default, Unmatured Event of Default or Borrowing Base Deficiency has occurred and is continuing or would result therefrom.
Borrowing Base Deficiency Payments; Equity Cure 7173 Section 2.07.
More Definitions of Borrowing Base Deficiency
Borrowing Base Deficiency means the amount by which the aggregate outstanding amount of the Advances plus the Letter of Credit Exposure exceeds the lesser of (x) the Borrowing Base and (y) the aggregate Commitments.
Borrowing Base Deficiency means, as of any date, the amount, if any, by which (a) the Outstanding Revolving Credit on such date, exceeds (b) the Borrowing Base in effect on such date; provided that, for purposes of computing the existence and amount of any Borrowing Base Deficiency, Letter of Credit Exposure will not be deemed to be outstanding to the extent funds have been deposited with Administrative Agent to secure such Letter of Credit Exposure pursuant to Section 2.1(b).
Borrowing Base Deficiency occurs if, at any time, the aggregate Total Exposures of all Lenders exceeds the Borrowing Base then in effect. The amount of the Borrowing Base Deficiency is the amount by which Total Exposures of all Lenders exceeds the Borrowing Base then in effect.
Borrowing Base Deficiency means, as of any date of determination, the extent to which the aggregate Advances Outstanding on such date exceeds the Borrowing Base.
Borrowing Base Deficiency shall have the meaning provided in Section 2.06 hereof.
Borrowing Base Deficiency means, at the time in question, the amount by which the total Credit Exposures exceeds the Borrowing Base then in effect.
Borrowing Base Deficiency means an event that occurs and is continuing on any date of determination that the Outstanding Loan Amount exceeds the Borrowing Base.