Borrowing Base Equalization Date definition

Borrowing Base Equalization Date means the date which is the earlier of (i) June 29, 2008 and (ii) the date (after consummation of the Acquisition) on which the Parent Guarantor (and has contributed such net cash proceeds to the Borrower) or the Borrower shall issue equity or debt securities in an aggregate amount of net cash proceeds at least equal to $200,000,000.
Sample 1Sample 2Sample 3
Borrowing Base Equalization Date means the earlier of (a) December 31, 2013, (b) the second Business Day following receipt by Parent of Net Cash Proceeds from the closing of a secondary public offering of Equity Interests by Parent in an amount greater than or equal to $25,000,000 or (c) the date on which the Borrowing Base is equal to the Conforming Borrowing Base and Borrower voluntarily informs the Administrative Agent in writing that the Conforming Borrowing Base and the Borrowing Base are and will be the same. MRC Energy Company Credit Agreement
Sample 1Sample 2
Borrowing Base Equalization Date means October 31, 2012.”
Sample 1Sample 2

Examples of Borrowing Base Equalization Date in a sentence

  • Prior to the Borrowing Base Equalization Date, any increase in the Conforming Borrowing Base as a result of the most recent redetermination thereof shall result in an equal increase in the Borrowing Base.

  • On and after the Borrowing Base Equalization Date, the Borrowing Base shall equal the Conforming Borrowing Base then in effect and all references to Conforming Borrowing Base and Borrowing Base shall mean the Borrowing Base then in effect.

  • The term “Conforming Borrowing Base” means, as of the date of determination thereof prior to the Borrowing Base Equalization Date, the designated loan value as calculated by Lenders in their sole discretion assigned to the discounted present value of future net income accruing to the Borrowing Base Properties, based upon Lenders’ in-house evaluation of Borrowing Base Properties.

  • Before the Borrowing Base Equalization Date the term “Borrowing Base” has the meaning set forth below, and will be determined in relation to the Conforming Borrowing Base.

  • On and after the Borrowing Base Equalization Date, the term “Borrowing Base” means, as of the date of determination thereof, the designated loan value as calculated by Lenders in their sole discretion assigned to the discounted present value of future net income accruing to the Borrowing Base Properties, based upon Lenders’ in-house evaluation of Borrowing Base Properties.

  • The Borrowing Base and, until the Borrowing Base Equalization Date, the Conforming Borrowing Base, shall be redetermined semi-annually in accordance with this Section 2.07 (a “Scheduled Redetermination”), and, subject to Section 2.07(d), such redetermined amounts shall become effective and applicable to the Borrower, the Agents, the Issuing Bank and the Lenders on April 1st and October 1st of each year, commencing October 1, 2007.

  • Until the Borrowing Base Equalization Date, the Conforming Borrowing Base, and after the Borrowing Base Equalization Date, the Borrowing Base shall be redetermined by Lenders as of May 1 and November 1 of each year (each a “Determination Date”) until maturity, commencing November 1, 2012.

  • For the period from and including the Effective Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $850,000,000 and the amount of the Conforming Borrowing Base shall be $685,000,000; provided that for the period from the Effective Date until the Borrowing Base Equalization Date the Borrowing Base shall not be less than $850,000,000.

  • Until the Borrowing Base Equalization Date, the Borrowing Base shall exceed the Conforming Borrowing Base by $75,000,000, subject to adjustments as a result of dispositions permitted under Section 8.4(k).

  • On the Borrowing Base Equalization Date, the Borrowing Base shall be reduced to an amount equal to the Conforming Borrowing Base.


More Definitions of Borrowing Base Equalization Date

Borrowing Base Equalization Date means the earlier of (a) June 30, 2014, (b) the date after the Third Amendment Effective Date on which the Borrower receives Net Cash Proceeds from the issuance of senior unsecured notes in either a registered public offering or in a private placement conducted pursuant to Rule 144A under the Securities Act of 1933 and Regulation S in an amount greater than or equal to $10,000,000 in accordance with the terms of this Agreement or (c) the date on which the Borrowing Base is equal to the Conforming Borrowing Base and Borrower voluntarily informs the Administrative Agent in writing that the Conforming Borrowing Base and the Borrowing Base are and will be the same.
Sample 1
Borrowing Base Equalization Date means February 5, 2009.
Sample 1
Borrowing Base Equalization Date means the earlier of (a) December 31, 2013, (b) the second Business Day following receipt by Parent of Net Cash Proceeds from the closing of a secondary public offering of Equity Interests by Parent in an amount greater than or equal to $25,000,000 or (c) the date on which the Borrowing Base is equal to the Conforming Borrowing Base and Borrower voluntarily informs the Administrative Agent in writing that the Conforming
Sample 1Sample 2Sample 3
Borrowing Base Equalization Date means the Sixth Amendment Effective Date.
Sample 1
Borrowing Base Equalization Date contained in Section 1.01 of the Original Credit Agreement is hereby amended to read in its entirety as follows:
Sample 1
Borrowing Base Equalization Date means May 2, 2012.”
Sample 1

Related to Borrowing Base Equalization Date

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

  • Redetermination Date means, with respect to any Scheduled Redetermination or any Interim Redetermination, the date that the redetermined Borrowing Base related thereto becomes effective pursuant to Section 2.07(d).

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

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

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

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

  • 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 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.

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

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

  • Specified Reserve Fund Balance means, on the Closing Date $3,846,153.85, and with respect to any Payment Date 0.25% of the initial aggregate principal balance of the Receivables as of the Cutoff Date.

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 1.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Anticipated State average revenue availability per student means the sum of all anticipated total county revenue availability divided by the average daily membership for the State.

  • Revolving Facility Termination Date means the earlier of (i) December 20, 2026, or (ii) the date that the Revolving Commitments have been terminated pursuant to Section 8.02.

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

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • 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.

  • Anticipated total county revenue availability per student means the anticipated total county revenue availability for the county divided by the average daily membership of the county.

  • 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.

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

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

  • 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.

  • 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.