Borrowing Base Shortfall definition

Borrowing Base Shortfall means, on any date of determination, the excess, if any, of (i) the sum of the Aggregate Class A Note Principal plus the Required Overcollateralization Amount, over (ii) the Borrowing Base Amount.

Borrowing Base Shortfall means the amount (if any) by which the Outstanding Principal of the Credit Facilities exceeds the amount of the Borrowing Base set forth in the most recently delivered Borrowing Base Notice.

Borrowing Base Shortfall means on as of any date of determination, the amount, if any, by which the Outstanding Note Balance (without giving effect to any Increase on such date) exceeds the Borrowing Base on such date (without giving effect to any pledge of Additional Timeshare Loans to the Indenture Trustee on such date).

Examples of Borrowing Base Shortfall in a sentence

• Lender will reassign and endorse to Borrower, without recourse or warranty of any kind, an ineligible Note Receivable if: (a) no Event of Default or Incipient Default exists; (b) Borrower has made all principal payments and Performed all replacement obligations as required above in connection with the Borrowing Base Shortfall and as a result there is no Borrowing Base Shortfall; and (c) Borrower has requested Lender in writing to release the ineligible Note Receivable.

• In the event as to a particular Note Receivable, the documents described in subsections (a), (b), (c) or (d) above are not delivered to the Custodial Agent prior to the expiration of the applicable Trailing Documents Delivery Date, then that Note Receivable shall no longer be deemed an Eligible Note Receivable and if a Borrowing Base Shortfall occurs as a result of such ineligibility, the provisions of Section 2.7(c) shall be applicable.

• Simultaneously with the delivery of Eligible Notes Receivable to correct a Borrowing Base Shortfall, Borrower will deliver to Lender all of the items (except for a Request for Loan Advance) required to be delivered by Borrower to Lender pursuant to Section 4.2, together with a “Borrower's Certificate” in form and substance identical to Exhibit E.

• If a Borrowing Base Shortfall occurs and is not eliminated in accordance with Section 2.8(k).

• An increase in interest rates as aforesaid arising from a Borrowing Base Shortfall or Event of Default shall on the Effective Date apply proportionately to each such Availment outstanding on the basis of the number of days remaining in the term to maturity of each such Availment.

More Definitions of Borrowing Base Shortfall

Borrowing Base Shortfall means, on any date, the amount, if any, by which the Notes Principal Amount (without giving effect to any Increase on such date) exceeds the Adjusted Borrowing Base on such date (without giving effect to any transfers of Additional Pledged Loans to the Collateral Agent on such date).

Borrowing Base Shortfall means, at any time, the amount (if any) by which:

Borrowing Base Shortfall means at any time, that amount, if any, by which the Canadian Dollar Exchange Equivalent of the Aggregate Principal Amount under the Revolving Loan, exceeds the Borrowing Base.

Borrowing Base Shortfall. On any date of determination, the amount, if any, by which the Advances Outstanding exceeds the Borrowing Base.

Borrowing Base Shortfall means, at any time, the amount, if any, by which the Notes Principal Amount exceeds the Borrowing Base then if effect.

Borrowing Base Shortfall as defined in Section 2.14(b).

Borrowing Base Shortfall means at any time, that amount, if any, by which the sum of the Equivalent Amount in Cdn. Dollars of Outstanding Principal under the Syndicated Facility and the Outstanding Principal under the Operating Facility exceeds the Borrowing Base;