Borrowing Base Review definition

Borrowing Base Review has the meaning assigned to such term in Section 5.12.
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Borrowing Base Review a review, performed by the Agent or a designee of the Agent reasonably acceptable to the Borrower, which evaluates the Borrower's compliance with the reporting requirements under this Agreement applicable to the Borrowing Base, including, but not limited to, an examination of the Borrower's books and records relating to the Borrower's Accounts Receivable Value.
Sample 1

Examples of Borrowing Base Review in a sentence

  • The Borrower agrees to, and shall cause each of its Restricted Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional reserves or modifying the eligibility criteria for the components of the Borrowing Base) to the extent reasonably required by the Agent or the Required Lenders as a result of any such Borrowing Base Review.

  • The Borrower agrees to, and shall cause each of its Restricted Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional reserves or modifying the eligi- bility criteria for the components of the Borrowing Base) to the extent reasonably required by the Agent or the Required Lenders as a result of any such Borrowing Base Review.

  • The Borrower agrees to, and shall cause each of its Restricted Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional reserves or modifying the eligibility criteria for the components of the Borrowing Base) to the extent reasonably required by the Collateral Monitoring Agent or the Required Lenders as a result of any such Borrowing Base Review.

  • Subject to the terms of this Agreement, the Borrower agrees to, and shall cause each of its Subsidiaries to, modify or adjust the computation of the Borrowing Base (which may include maintaining additional Reserves or modifying the eligibility criteria for the components of the Borrowing Base) to the extent reasonably required by the Co-Collateral Agents or the Requisite Lenders as a result of any such Borrowing Base Review.

  • The Agent shall be entitled to perform, at the Borrower's expense (i) an annual Borrowing Base Review, and (ii) an annual appraisal of the fixed assets of the Borrower.

Related to Borrowing Base Review

  • 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.

  • 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 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 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.

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

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

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit H or another form which is acceptable to the Administrative Agent in its sole discretion.

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

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

  • 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.

  • Domestic 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.

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

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

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

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

  • 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.

  • Tranche A 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 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 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.

  • Redetermination means any Scheduled Redetermination or Special Redetermination.

  • Inventory Appraisal means (a) on the Closing Date, the appraisal prepared by Great American Group dated June 2007 and (b) thereafter, the most recent inventory appraisal conducted by an independent appraisal firm pursuant to Section 9.2(b).

  • 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.