Borrowing Base Surplus definition

Borrowing Base Surplus means, at any time, the amount, if any, by which (a) the Borrowing Base (excluding any amounts on deposit in the Reserve Account) exceeds (b) the Facility Amount.
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Borrowing Base Surplus means, at any time, that the Borrowing Base exceeds the Facility Amount, an amount equal to the amount of such excess.
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Borrowing Base Surplus means, at any given time, the difference between (I) the Borrowing Base, and (II) all Outstandings under the Revolving Loan;
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Examples of Borrowing Base Surplus in a sentence

  • Notwithstanding same, in the event of a Borrowing Base Surplus then Borrower shall receive a dollar-for-dollar reduction of its deposit requirements under this Section 7.4.2.

  • For clarity, nothing herein to the contrary shall be deemed to prevent a Contract Disposition Transaction during an Unrestricted Period, provided, however, for any Contract Disposition Transaction effected pursuant to clause (ii) of the definition thereof, the Borrowing Base Surplus shall be calculated without regard to any Unrestricted Period.

  • For the purposes of establishing the applicable Revolving Loan Rate and applicable BA Loan Rate, the Borrowing Base Surplus shall be calculated by applying the advance rate of 85% of NOLV of Eligible Finished Goods Inventory.


More Definitions of Borrowing Base Surplus

Borrowing Base Surplus means at any time that the Overcollateralization Percentage exceeds the Required Overcollateralization Percentage, an amount equal to the remainder of (a) the sum of (i) the Pledged Receivables Balance plus (ii) amounts on deposit in the Spread Account plus (iii) the amount of Collections on deposit in the Agent's Account to be applied in accordance with Section 2.05 on the next Settlement Date minus (b) the product of (i) the sum of 100% plus the Required Overcollateralization Percentage multiplied by (ii) the Facility Amount.
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Borrowing Base Surplus means, at any time that the Overcollateralization ---------------------- Percentage exceeds the Required Overcollateralization Percentage, an amount equal to: (PRB - MOCA) - (FA - SA - CO) where: PRB = the Pledged Receivables Balance; MOCA = the Minimum Overcollateralization Amount; SA = the amounts on deposit in the Spread Account; CO = the amount of Collections on deposit in the Agent's Account to be applied in accordance with Section 2.05 on the next ------------ Remittance Date; and FA = the Facility Amount.
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Borrowing Base Surplus and “Distribution Conditions” to Section 1.01:
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Borrowing Base Surplus has the meaning set forth in Section 2.08(d). “Borrowing Base Surplus Day” has the meaning set forth in Section 2.08(d).
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Related to Borrowing Base Surplus

  • 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:

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

  • 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.

  • 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.