Borrowing Base Facility definition

Borrowing Base Facility means one or more revolving debt facilities (including the ABL Credit Agreement) in each case, with banks or other institutional lenders or other credit providers that provide for committed advances calculated by reference to the value of the assets pledged as collateral to secure borrowings thereunder.

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Borrowing Base Facility means one or more debt facilities with banks or other institutional lenders, accredited investors or institutional investors providing for revolving credit loans, letters of credit, bank guarantees and/or banker’s acceptances, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time (including increasing the amount of available borrowings thereunder or adding the Company’s Subsidiaries as additional borrowers or guarantors thereunder).

Borrowing Base Facility means the $39.3 million borrowing facility which was terminated in December 2016;

Examples of Borrowing Base Facility in a sentence

• If at any time the outstanding advances under the Borrowing Base Facility exceed the Borrower’s Loan Limit as shown on any reports delivered to Lender under Section 6(d)(ii) or as indicated by Lender’s own records, Borrower shall, on the date of the delivery of such report to Lender or on the date of notice from Lender as to Lender’s records, prepay on the Borrowing Base Facility such amount as may be necessary to eliminate such excess, plus all accrued but unpaid interest thereon.

• The sums advanced under the Borrowing Base Facility shall be used for general corporate purposes and working capital.

• The Bluestem Credit Agreement continues in full force and effect and all rights of the Bluestem Lenders continue thereunder until the Transaction Closing Date when the indebtedness owing thereunder will be restructured as provided in the Borrowing Base Facility Credit Agreement and the KPC Pipeline Credit Agreement.

• Borrowers hereby acknowledge that in part the Borrowing Base Facility Credit Agreement represents a renewal, extension, amendment and modification of the Assigned Debt, but does not represent a satisfaction or novation thereof.

• The Assignee confirms that the indebtedness comprising the Assigned Rights will be allocated among the Borrowing Base Facility Lenders in accordance with each such Borrowing Base Facility Lender’s Pro Rata Share (as defined in the Borrowing Base Facility Credit Agreement) of the aggregate commitment under the Borrowing Base Facility Credit Agreement.

• The Second Lien Credit Agreement continues in full force and effect and all rights of the Second Lien Lenders continue thereunder until the Transaction Closing Date when the indebtedness owing thereunder will be restructured as provided in the Borrowing Base Facility Credit Agreement.

• This Security Agreement is one of the “Loan Documents” referred to in the Borrowing Base Facility Credit Agreement, and all provisions relating to Loan Documents set forth in Article X of the Borrowing Base Facility Credit Agreement are incorporated herein by reference, the same as if set forth herein verbatim.

• On or about March 21, 2007, Ohio Savings Bank (the “Original Lender”), and ▇▇▇▇▇▇ and Sons, LLC (the “Original Borrower”), entered into a Revolving Working Capital Land Acquisition and Development and Residential Construction Borrowing Base Facility Agreement (the “Loan Agreement”).

• In addition, if any of the Collateral shall be sold, transferred, assigned or otherwise disposed of by such Debtor in a transaction permitted by the Borrowing Base Facility Credit Agreement, then the Secured Party, at the request and expense of such Debtor, shall promptly execute and deliver releases as provided in the Borrowing Base Facility Credit Agreement.

• It is understood that maintenance men and shop cleaners hired after July 13, 1985, will be required to join the Union.

More Definitions of Borrowing Base Facility

Borrowing Base Facility means the facility under which Borrower may request Bank to issue Borrowing Base Advances, as specified in Section 2.3(b) hereof.

Borrowing Base Facility means either (i) an asset-based revolving and/or term loan facility (which may also include the Derivatives Facilities) whereby the available commitments under the facility are calculated with reference to an accounts receivable and/or inventory borrowing base calculation and that also may include, as part of the calculation, all or a portion of the value of the ABL Snowflake Collateral or (ii) a working capital facility pursuant to any loan agreement, credit facility or other similar debt instrument which is provided by a bank or other financial institution or group of banks or other financial institutions, in each case for the purposes of funding general corporate requirements of the Company and/or the Guarantors and shall include, without limitation, any such facility containing the Derivatives Facilities; and with respect to both of the foregoing clauses (i) and (ii), in each case as conclusively determined pursuant to a Board Resolution of the Company adopted in good faith at the time such agreement, facility or instrument is entered into and attached to an Officers’ Certificate delivered to the Collateral Trustee. For greater certainty, “Borrowing Base Facility” shall include, without limitation, the ABL Facility.

Borrowing Base Facility means the Second Amended and Restated Credit Agreement, dated September 21, 2010, among PostRock Energy Services Corporation, PostRock Midcontinent Production, LLC, Royal Bank of Canada (as Administrative Agent and Collateral Agent) and the lenders party thereto.

Borrowing Base Facility means the receivables borrowing base facility made available by the Borrowing Base Lenders under clause 2.1(e) (Facilities);

Borrowing Base Facility means the $100 million borrowing base facility established pursuant to the credit agreement dated July 22, 2010, as amended, among the Company, the Facility Agent, Sumitomo Mitsui Banking Corporation Europe Limited, Export Development Canada and International Finance Corporation.

Borrowing Base Facility means the First Amended and Restated Credit Agreement dated as of August 16, 2005 among ▇▇▇▇▇▇ & Blake, certain of its subsidiaries as guarantors, the lender parties thereto, and BNP Paribas, as administrative agent, as the same may be amended, modified, or supplemented from time to time.