Borrowing Base Facility definition

Borrowing Base Facility means one or more revolving debt facilities, 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 assets of the Issuer and its Restricted Subsidiaries, whether or not 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).
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Borrowing Base Facility means the $39.3 million borrowing facility which was terminated in December 2016;
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Examples of Borrowing Base Facility in a sentence

  • The amount of the Borrowing Base may fluctuate over time and is determined principally by the net present value of the Company’s Proved and Probable reserves over the term of the Borrowing Base Facility, up to a pre-defined commitment amount which is subject to pre-determined semi-annual reductions in accordance with the terms of the Borrowing Base Facility.

  • The Company incurs standby interest charges on amounts available but not drawn under the Borrowing Base Facility, which significantly impacts the effective interest rate in periods when there are small or no borrowings under the facility.

  • The Borrowing Base Facility has a term that extends to December 31, 2017, and is secured by a pledge over certain bank accounts, a pledge over the Company’s subsidiaries and a fixed and floating charge over certain assets.

  • Deferred financing costs are amortized based on the borrowing capacity available in the Borrowing Base Facility.

  • The Borrowing Base Facility is secured by a pledge over certain bank accounts, a pledge over the Company’s subsidiaries and a fixed and floating charge over certain assets.

  • As of the Petition Date, the principal amount outstanding under the Borrowing Base Facility was approximately $65 million.

  • In February 2016, the PostRock Debtors defaulted under the Borrowing Base Facility, and in March 2016, the lender accelerated the balance of indebtedness rendering the entire principal balance plus all accrued interest immediately due and payable.

  • The Borrowing Base Facility is guaranteed by all of the subsidiaries of PostRock other than non-debtor CEPM.

  • Consequently, in February 2015, PostRock sought to sell substantially all of its assets, but was unable to locate a buyer willing to make an offer sufficient to fully satisfy the outstanding financial obligations under the Borrowing Base Facility.

  • The new Borrowing Base Facility is secured by a pledge over certain bank accounts, a pledge over the Company’s subsidiaries, and a fixed and floating charge over certain assets.


More Definitions of Borrowing Base Facility

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.
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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.
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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.
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Borrowing Base Facility means the receivables borrowing base facility made available by the Borrowing Base Lenders under clause 2.1(e) (Facilities);
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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.
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Borrowing Base Facility means the First Amended and Restated Credit Agreement dated as of August 16, 2005 among Xxxxxx & 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.
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Related to Borrowing Base Facility

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

  • 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.

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

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

  • 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.

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

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

  • 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.

  • 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.

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

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

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

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

  • 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.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Secure facility or "detention home" means a local, regional or state public or private locked

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

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

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

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

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

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • 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.

  • Available Facility Amount is defined in Section 2.2(a).