Calculated Borrowing Base definition

Calculated Borrowing Base means at any time an amount equal to the amount determined in accordance with Section 2.
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Calculated Borrowing Base and "Special Purpose Subsidiary" therein to read as follows: "Borrowing Base" in effect from time to time, from the date of the Third Amendment until the Acquisition Date, shall equal the excess, if any, of (a) the Calculated Borrowing Base over (b) the aggregate principal then outstanding on all Senior Unsecured Notes. The Borrowing Base in effect from time to time, after the Acquisition Date, shall equal the excess, if any, of (a) the Calculated Borrowing Base over (b) the sum of (1) the aggregate principal then outstanding on all Senior Unsecured Notes plus (2) the aggregate principal then outstanding on the EGB Notes.
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Calculated Borrowing Base means at any time an amount equal to the amount determined in accordance with Section 2.08; provided that if any interest in the EEX Infrastructure Assets is sold or transferred to a third party or a Special Purpose Subsidiary, the Calculated Borrowing Base will be reduced by $30,000,000.
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Examples of Calculated Borrowing Base in a sentence

  • Upon any redetermination of the Calculated Borrowing Base, such redetermination shall remain in effect until the next successive Redetermination Date.

  • During the period from and after the Closing Date until the next Redetermination Date, the amount of the Calculated Borrowing Base shall be $510,000,000.

  • So long as any of the Commitments is in effect or any Letter of Credit is outstanding and until all of the Facility Obligations are paid in full, the credit facilities provided herein shall be governed by the then effective Calculated Borrowing Base.

  • So long as any of the Commitments is in effect or any Letter of Credit is outstanding and until payment in full of all Facility Obligations, the Calculated Borrowing Base shall be redetermined from time to time in accordance with Section 2.04(b) by the Administrative Agent with the concurrence of the Borrowing Base Approval Lenders.

  • The Administrative Agent shall not be liable for the accuracy of, or the methodology or procedures used by it in redetermining or proposing, any Calculated Borrowing Base.

  • During the period from and after the Closing Date until the next Redetermination Date, the amount of the Calculated Borrowing Base shall be $225,000,000.

  • Upon any redetermination of the Calculated Borrowing Base, such redetermination shall remain in effect until the next Redetermination Date.