Borrowing Base Test definition
Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.
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 Test means a test that will be satisfied at any time if (a) Advances Outstanding are less than or equal to (b) the Borrowing Base at such time.
Examples of Borrowing Base Test in a sentence
In addition, the Advances Outstanding shall be repaid as necessary to cause the Borrowing Base Test to be met, which repayment shall be made on the next succeeding Payment Date in accordance with Section 2.8; provided that the Borrower may, at its option, instead prepay any Advance on any Business Day prior to such Payment Date in order to cause the Borrowing Base Test to be met.
More Definitions of Borrowing Base Test
Borrowing Base Test means as of any Determination Date, that the Borrowing Base shall be equal to or greater than Credits Outstanding.
Borrowing Base Test means as of any date, a determination that (a) the Maximum Availability shall be equal to or greater than (b) the Advances Outstanding.
Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true:
Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: Adv = the aggregate principal amount of the Advances actually outstanding on such date of determination; PP = Principal Proceeds then on deposit in the Accounts, the Permitted CAD Accounts, the Permitted EUR Accounts and the Permitted GBP Accounts (including cash and Eligible Investments (other than Principal Proceeds that have been identified for use to settle outstanding Purchase Commitments which have traded but not settled)); and AR = 60%.
Borrowing Base Test means a test that will be satisfied at any time if (i) Advances Outstanding are less than or equal to the Borrowing Base (Aggregate) at such time, (ii) the aggregate principal balance (in CAD) of all CAD Advances outstanding hereunder are less than the Borrowing Base (CAD), (iii) the aggregate principal balance (in EUR) of all EUR Advances outstanding hereunder are less than the Borrowing Base (EUR) and (iv) the aggregate principal balance (in GBP) of all GBP Advances outstanding hereunder are less than the Borrowing Base (GBP).
Borrowing Base Test means a test that will be satisfied at any time if (i) Advances Outstanding (converting all amounts not denominated in Dollars to Dollars at the Spot Rate) are less than or equal to the Borrowing Base (Aggregate) at such time, (ii) if Advances Outstanding which are denominated in AUD are less than or equal to the Borrowing Base (AUD) at such time, (iii) if Advances Outstanding which are denominated in CAD are less than or equal to the Borrowing Base (CAD) at such time, (iv) if Advances Outstanding which are denominated in EUR are less than or equal to the Borrowing Base (EUR) at such time or (v) if Advances Outstanding which are denominated in GBP are less than or equal to the Borrowing Base (GBP) at such time.
Borrowing Base Test means a test that will be satisfied on any date of determination if (a) the Borrowing Base Ratio is not greater than the Facility Advance Rate, (b) the sum of the aggregate outstanding principal amount of the Advances is not greater than the Borrowing Base, and (c) the aggregate outstanding principal amount of the Advances plus an amount equal to the positive difference between the aggregate Unfunded Exposure Amount and the amounts on deposit in the Unfunded Exposure Account and the Unfunded Exposure Allocated Amounts on such date of determination is not greater than the Financing Commitment.