Borrowing Base Eligible Asset definition

Borrowing Base Eligible Asset means Cash, any Eligible Money Market Investment, any Eligible Loan Asset, any Eligible Commercial Paper Note, any Eligible Repurchase Agreement and any Eligible Government Security (including, without limitation, any such Asset constituting a Foreign Asset) which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset (a) does not constitute (i) a Derivatives Transaction, an Illiquid Asset, or a Foreign Security System Asset or (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, short sale, call option, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate or currency risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding securities lending transaction, reverse repurchase agreement, put option or other Derivatives Transaction entered into by the Borrower or any cash or Asset subject to a Lien described in clause (viii) of the definition of Permitted Lien; (b) except with respect to Eligible Loan Assets and Cash, has an industry CUSIP, SEDOL or ISIN number that has been provided to the Custodian, (c) is not committed to a repurchase of shares pursuant to Rule 23c-3(b)(10) under the Investment Company Act and (d) is not an Emerging Market Asset.
Sample 1
Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Credit-Linked Note, any Eligible Bond Asset, an Eligible Commercial Paper Note, Eligible Money Market Funds and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; PROVIDED that such Asset does not constitute (i) a Derivative Transaction, Margin Stock, an Equity Security, a Non-OECD Asset or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Sample 1
Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivative Transaction, Modified Margin Stock, an Equity Security, a Non-OECD Loan Asset, a Foreign Security System Asset or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
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Examples of Borrowing Base Eligible Asset in a sentence

  • The Borrower owns each Borrowing Base Eligible Asset free and clear of Adverse Claims and as of the initial Borrowing Date and at all times thereafter, the Program Agent has a first priority perfected security interest in the Pledged Collateral (subject to the Lien of the Custodian securing the Custodian's Overdraft Advances to the extent permitted by Section 5.02(o) and other Permitted Liens) free and clear of all Adverse Claims.

  • Provide to the Custodian a CUSIP, SEDOL or ISIN number with respect to each Borrowing Base Eligible Asset (other than Loan Assets and Cash).

  • Notwithstanding the foregoing, the Borrower may, at any time retain the Initial Valuation Agent to undertake a valuation report (the “Valuation Report”) with respect to any Borrowing Base Eligible Asset (the Assigned Value in such Valuation Report, the “Initial Valuation”).

  • The Borrower owns each Borrowing Base Eligible Asset free and clear of Adverse Claims other than Permitted Liens.

  • Each Asset which comprises the Assigned Collateral which is taken into account in determining the Borrower’s compliance with the Borrowing Base Test constitutes a Borrowing Base Eligible Asset, and the Borrower owns each such Asset free and clear of Adverse Claims.

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  • The Borrower owns each Borrowing Base Eligible Asset free and clear of Adverse Claims and as of the initial Borrowing Date and at all times thereafter, the Administrative Agent has a first priority perfected security interest in the Pledged Collateral (subject to the Lien of the Custodian securing the Custodian’s Overdraft Advances to the extent permitted by Section 5.02(o) and other Permitted Liens) free and clear of all Adverse Claims.

  • The Borrower owns each Borrowing Base Eligible Asset free and clear of Adverse Claims; and as of the initial Borrowing Date and at all times thereafter, the Agent has a first-priority perfected security interest in the Pledged Collateral (subject to the Lien of the Custodian securing the Custodian's Overdraft Advances to the extent permitted by SECTION 5.02(o) and other Permitted Liens) free and clear of all Adverse Claims.

  • Notwithstanding the foregoing, the Borrower may, at any time, at Borrower’s expense, retain the Initial Valuation Agent to undertake a valuation report (the “Valuation Report”) with respect to any Borrowing Base Eligible Asset, which in the case of a Mortgage Asset, shall mean the value of the underlying mortgaged property set forth in an updated appraisal provided by the Initial Valuation Agent (the Assigned Value in such Valuation Report, the “Initial Valuation”).


More Definitions of Borrowing Base Eligible Asset

Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivative Transaction, Margin Stock, an Equity Security, a Non-OECD Loan Asset, a Citigroup Asset, a Distressed Loan Asset, or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Sample 1
Borrowing Base Eligible Asset means any Pool Asset other than any Pool Asset that constitutes a Foreign Currency Asset, a Foreign Security System Asset, a Non-OECD Asset, a Derivatives Transaction, Margin Stock, an Equity Security (other than Eligible 2a-7 Interests), an Other Excluded Pool Asset or an Asset which is the subject of Derivatives Transactions, reverse repurchase agreement, dollar roll or securities lending transactions, or an Asset held by a sub-custodian which is not located in the United States.
Sample 1
Borrowing Base Eligible Asset means Cash, any Eligible Money Market Investment, any Eligible Loan Asset, any Eligible Commercial Paper Note, any Eligible Repurchase Agreement, any Eligible Bond Asset and any Eligible Government Security (including, any such Asset constituting a Foreign Asset) which the Borrower is permitted to purchase in accordance with the Fundamental Policies which are free and clear of all Adverse Claims; provided that such Asset (a) does not constitute (i) a Derivatives Transaction, an Illiquid Asset, a Foreign Security System Asset, a Convertible Security or an Equity Security or (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, short sale, call option, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate or currency risk which have not been entered into for speculative purposes), including, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement, put option or other Derivatives Transaction entered into by the Borrower or any cash or Asset subject to a Lien described in Section 7.2(d) of this Credit Agreement and (b) except with respect to Eligible Loan Assets, Eligible Repurchase Agreements and Cash, has an industry CUSIP, SEDOL or ISIN number that has been provided to the Custodian.
Sample 1
Borrowing Base Eligible Asset means Cash, any Eligible Debt Security, any Eligible Commercial Paper Note, any Eligible Credit Default Swap and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivatives Transaction (other than Eligible Credit Default Swaps), Margin Stock, an Equity Security, a Non-OECD Asset, a Citigroup Asset, a Distressed Asset (other than an Eligible DIP Asset), or a Foreign Currency Asset (other than an Eligible Foreign Currency Asset), (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement or Credit Default Swap entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Sample 1
Borrowing Base Eligible Asset means Cash, any Eligible Loan Asset, any Eligible Commercial Paper Note and any Eligible Government Security which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset does not constitute (i) a Derivative Transaction, Margin Stock, an Equity Security, a Non-OECD Loan Asset or a Foreign Currency Asset, (ii) an Asset which is the subject of a reverse repurchase agreement, dollar roll, securities lending transaction or other Derivatives Transaction (other than Derivatives Transactions entered into solely to protect against interest rate risk which have not been entered into for speculative purposes), including, without limitation, any cash or other Asset maintained in a segregated account with the Custodian relating to any outstanding reverse repurchase agreement entered into by the Borrower; or (iii) an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Sample 1
Borrowing Base Eligible Asset appearing in Section 1.01 of the Credit Agreement is hereby amended to insert the following at the beginning of clause (i) thereof, before the words "a Derivatives Transaction": "a Defaulted Asset,".
Sample 1

Related to Borrowing Base Eligible Asset

  • S&P Eligible Asset means: (1) cash (excluding any cash irrevocably deposited by the Fund for the payment of any liabilities within the meaning of MTP Basic Maintenance Amount), (2) Receivables for Municipal Obligations Sold, (3) S&P Hedging Transactions or (4) a Municipal Obligation (including Inverse Floater as defined below) owned by the Fund that (A) is interest bearing and pays interest at least semi-annually; (B) is payable with respect to principal and interest in U.S. Dollars; (C) is not subject to a covered call or put option written by the Fund; (D) except for Inverse Floaters, is not part of a private placement of Municipal Obligations; and (E) except for Inverse Floaters, is part of an issue of Municipal Obligations with an original issue size of at least $10 million. Any Municipal Obligation that is a part of an original issue size of less than $10 million must carry a rating of at least “AA” by S&P or “AAA” by Moody’s, Fitch or another nationally recognized statistical rating organization. Notwithstanding the foregoing limitations:

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • 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.

  • Eligible Asset An Asset:

  • Fitch Eligible Assets means the assets of the Company set forth in the Fitch Guidelines as eligible for inclusion in calculating the Agency Discounted Value of the Company’s assets in connection with Fitch’s ratings then assigned on the MRP Shares.

  • Eligible Assets means property that is used or useful in the same or a similar line of business as the Borrower and its Subsidiaries were engaged in on the Closing Date (or any reasonable extension or expansions thereof).

  • 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.

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

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

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

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

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

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

  • 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 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 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.

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

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

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • 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.

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