Borrowing Base Termination Date definition

Borrowing Base Termination Date means. if at such time no Default under section 10.1(a) or Event of Default shall have occurred and be continuing, (i) December 31, 2001, or (ii) such earlier date, if any, as of which the Borrower shall have delivered to the Administrative Agent and the Lenders its written undertaking to comply with section 9.8 of this Agreement as if such section 9.8 had been amended so as not to permit the Borrower at any time to have a ratio of its Consolidated Total Debt to Consolidated EBITDA for its Testing Period most recently ended in excess of 2.50 to 1.00 (and effective upon such delivery such section 9.8 of this Agreement shall be deemed to have been so amended). The Administrative Agent shall notify the Borrower and the Lenders of the occurrence of the Borrowing Base Termination Date, specifying the same.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Borrowing Base Termination Date means the earlier to occur of (a)

Borrowing Base Termination Date means the earlier to occur of (a) ------------------------------- July 1, 2001 and (b) such date as the Borrowers elect in writing to the Administrative Agent to terminate the use of the Borrowing Base formula and convert to a borrowing limitation tied to the Leverage Ratio restrictions set forth in Section 7.8 hereof.

Examples of Borrowing Base Termination Date in a sentence

For the avoidance of doubt, inasmuch as no Derivative Transactions are in effect on the Closing Date, no Borrowing Base reduction or mandatory prepayment shall be required solely as a result of any Derivative Liquidation (if any) occurring prior to the Initial Borrowing Base Termination Date.
Provided that Borrower shall comply with the covenants contained in this Loan Agreement and the other Loan Documents, the Borrowing Base Loan shall be extended to Borrower until three hundred sixty-four (364) days after the date of this Loan Agreement (the "Borrowing Base Termination Date"), at which time all sums advanced hereunder shall be due and payable in full.
For avoidance of doubt, the Non-Conforming Borrowing Base Termination Date shall occur if the Acquisition Closing Date occurs.
From and after the Initial Borrowing Base Termination Date, the Parent, the Borrower and their Subsidiaries shall at all times maintain Liquidity equal to at least 20% of the then effective Borrowing Base.
If the Borrower requests a Special Borrowing Base Determination prior to the occurrence of any event of the types described in clauses (a) through (c) of the definition the Initial Borrowing Base Termination Date, then the Initial Borrowing Base Termination Date shall have occurred on the Early Determination Notice Date.
If, on any date prior --------------------------------- to the Borrowing Base Termination Date, the Loans then outstanding exceed the difference of (A) the Borrowing Base minus (B) any Capitalized Lease ----- Obligations then outstanding in excess of $50,000,000.00 on such date, the Loans shall be repaid in an amount equal to, in the aggregate, such excess.
Such unused fee shall accrue from and including the date of this Loan Agreement to and including the Borrowing Base Termination Date.
From and after the Initial Borrowing Base Termination Date, the Borrowing Base shall be the amount determined from time to time in accordance with this Section 2.04.
Notwithstanding anything to the contrary herein, the Borrowers and their respective Subsidiaries will not make any additional Investments after the Second Amendment Effective Date until the Deemed Borrowing Base Termination Date has occurred, except as permitted by Section 7.10(d) and Section 7.10(j).
For the avoidance of doubt, on and after the Non-Conforming Borrowing Base Termination Date, the Conforming Borrowing Base shall equal the Borrowing Base.

More Definitions of Borrowing Base Termination Date

Borrowing Base Termination Date means June 30, 2007.

Borrowing Base Termination Date means the date upon which the Revolving Commitments shall have been terminated and all Revolving Loans irrevocably paid in full.

Borrowing Base Termination Date means the first date after the Restatement Date, or if applicable, after a Borrowing Base Reinstatement Date, on which the Borrower has delivered two consecutive compliance certificates pursuant to Section 6.1(e) demonstrating to the reasonable satisfaction of the Administrative Agent that the Total Cash Flow Leverage Ratio was less than 2.0 to 1.0 as of the last day of the most recently ended fiscal quarter set forth in each such compliance certificate.