Borrowing Base Deficiency Rate definition

Borrowing Base Deficiency Rate means one and one-quarter percent (1.25%) plus the highest Applicable Margin, but in no event to exceed the Highest Lawful Rate.
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Borrowing Base Deficiency Rate means an interest rate equal to (a) the Base Rate plus (b) the Base Rate Spread, if any, applicable to Base Rate Loans; provided, however, that with respect to a LIBO Rate Loan, the Borrowing Base Deficiency Rate shall be an interest rate equal to the LIBO Rate (including any LIBOR Spread) otherwise applicable to such Loan, in each case to the fullest extent permitted by applicable Laws.
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Borrowing Base Deficiency Rate means, the lesser of (a) the Maximum Rate, or (b) the Applicable Rate in effect from day to day, plus two percent.
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Examples of Borrowing Base Deficiency Rate in a sentence

  • During any period of time in which a Borrowing Base Deficiency has occurred and is continuing, the Obligations shall bear interest at the Borrowing Base Deficiency Rate.

  • Notwithstanding the foregoing, Borrower will pay to Agent, for the account of each Lender, interest at the applicable Borrowing Base Deficiency Rate on any principal of any Loan (including LIBOR Loans and Swing Line Loans) during the period commencing on the date Agent notifies Borrower of a redetermined Borrowing Base that results in a Borrowing Base Deficiency and ending on the date that such Borrowing Base Deficiency is cured.

  • Notwithstanding the foregoing, Borrower will pay to Agent, for the account of each Lender, interest at the applicable Borrowing Base Deficiency Rate on any principal of any Loan (including LIBOR Loans) during the period commencing on the date Agent notifies Borrower of a redetermined Borrowing Base that results in a Borrowing Base Deficiency and ending on the date that such Borrowing Base Deficiency is cured.

  • Notwithstanding the foregoing, at all times from and after the date that is thirty (30) days after the date on which the Borrower receives a Borrowing Base Deficiency Notice until the date on which such Borrowing Base Deficiency shall cease to exist and to the extent that the Loans do not otherwise bear interest at the Default Rate, all of the outstanding Loans shall bear interest, after as well as before judgment, at a rate per annum equal to the Borrowing Base Deficiency Rate.


More Definitions of Borrowing Base Deficiency Rate

Borrowing Base Deficiency Rate means, at the time in question, the rate per annum equal to 2.00% above the Adjusted Term SOFR Margin Rate then in effect; provided that, in each case, the Borrowing Base Deficiency Rate shall never exceed the Highest Lawful Rate.
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Related to Borrowing Base Deficiency Rate

  • 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 Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • 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.

  • Advance Deficiency As defined in Section 4.01(b).

  • 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.

  • Collateral Deficiency Amount With respect to any AB Modified Loan as of any date of determination, the excess of (i) the Stated Principal Balance of such AB Modified Loan (taking into account the related junior note(s) included therein), over (ii) the sum of (in the case of a Loan Combination, solely to the extent allocable to the subject Mortgage Loan) (x) the most recent Appraised Value for the related Mortgaged Property or Mortgaged Properties, plus (y) solely to the extent not reflected or taken into account in such Appraised Value and to the extent on deposit with, or otherwise under the control of, the lender as of the date of such determination, any capital or additional collateral contributed by the related Mortgagor at the time the Mortgage Loan became (and as part of the modification related to) such AB Modified Loan for the benefit of the related Mortgaged Property or Mortgaged Properties (provided, that in the case of an Outside Serviced Mortgage Loan, the amounts set forth in this clause (y) will be taken into account solely to the extent relevant information is received by the Special Servicer), plus (z) any other escrows or reserves (in addition to any amounts set forth in the immediately preceding clause (y)) held by the lender in respect of such AB Modified Loan as of the date of such determination. The Certificate Administrator, the Master Servicer and the Operating Advisor (other than with respect to any Collateral Deficiency Amount calculations that the Operating Advisor is required to review, recalculate and/or verify pursuant to Section 3.29) shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Collateral Deficiency Amount.

  • 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.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • 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.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability at least equal to the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

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

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

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

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • 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.

  • Collateral Rate means, for any Interest Period, the rate specified in the Loan Agreement.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Non-Availability Charges has the meaning set forth in the CAISO Tariff.

  • 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.

  • Maximum Revolving Advance Amount means $25,000,000.

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