Borrowing Base (UDC Contracts) definition

Borrowing Base (UDC Contracts) means, with respect to all Eligible Contracts originated by the Originators or any other predecessor Duck Entity at any date, the amount equal to (A) the aggregate Principal Balance thereof multiplied by (B) the least of (i) the Effective Securitization Net Proceeds Percentage, (ii) the Weighted Average Securitization Net Proceeds Percentage as of such date, or (iii) 65%.
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Related to Borrowing Base (UDC Contracts)

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

  • 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 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 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 Amount means: