Class B Borrowing Base definition

Class B Borrowing Base means, as of any day, an amount equal to the lesser of:

Class B Borrowing Base means, as of any date of determination, (a) with respect to all Collateral Receivables, the sum of the Class B Borrowing Base Amounts of all such Collateral Receivables minus (b) the Class A Borrowing Base at such time.

Class B Borrowing Base means, as of any date of determination, an amount equal to the product of (a) the applicable Unrated Class B Advance Rate and (b) the Net Eligible Receivables Balance.

Examples of Class B Borrowing Base in a sentence

• Such Borrowing Base Certificate shall provide the current calculation of the Class A Borrowing Base and Class B Borrowing Base (i) if such Funding Date is a Settlement Date, as of the end of business on the related Determination Date, or (ii) if such Funding Date is not a Settlement Date, as of the end of business on the Determination Date for the most recent Settlement Date (or as of the end of business on such date as agreed by the Administrative Agent).

• The Borrowing Base Certificate required to be delivered with any Release Notice shall be dated and current as of the close of business on the date preceding the delivery date for such Release Notice set forth above and shall show pro forma calculations of the Reserve Account Funding Requirement, Class A Borrowing Base and Class B Borrowing Base as of the applicable Release Date (after giving effect to any Release on such date).

• The Borrower will not sell any Receivables or other Collateral related thereto if, following such sale, a Class A Borrowing Base Deficiency, a Class B Borrowing Base Deficiency or a Facility Advance Cap Deficiency would exist after giving effect to the application of proceeds of such sale; provided that the foregoing shall not prohibit a foreclosure sale by or on behalf of the Lenders upon the occurrence of an Event of Default.

• After a first failed attempt to winch the door, a second attempt was made.

• Notwithstanding anything herein to the contrary, on any Credit Date with respect to a Credit Extension of a Class B Revolving Loan, Company may without further action on the part of Company distribute the proceeds of such Class B Revolving Loan to Holdings so long as no Class B Borrowing Base Deficiency or Class A Borrowing Base Deficiency has occurred or would result therefrom (a “Borrower Distribution”).

More Definitions of Class B Borrowing Base

Class B Borrowing Base means, as of any date of determination, the amount equal to (a) the aggregate sum of the products of (x) the applicable Class B Advance Rate for each Aircraft then in the Borrower’s Portfolio, and (y) the Adjusted Borrowing Value of such Aircraft as of such date, plus (b) the amount on deposit in the Liquidity Reserve Account as of such date, after taking into account any funds proposed to be released therefrom on such date of determination (and, with respect to determinations of the Class B Borrowing Base as of any date that a Class B Advance is being made hereunder, giving effect to any amounts to be deposited into such Liquidity Reserve Account funded with the proceeds of Class B Advances on such date), plus (c) the portion allocable to Class B Advances, of unreleased Advance proceeds held in the Borrower Funding Account pending release to the Borrower during the Holding Period, or repayment to the Lenders immediately following the Holding Period.

Class B Borrowing Base. As of any Measurement Date, an amount equal to the lesser of:

Class B Borrowing Base means, as of any date of determination, the product of (i) the Borrowing Base as of such date and (ii) the applicable amount set forth on Column E of Schedule XII hereto.

Class B Borrowing Base means, at any time, an amount equal to (i) cash held in the Collection Account, plus (ii) cash actually on deposit in the Reserve Account on such date, plus (iii) the product of (A) the Class B Advance Rate and (B) the Net Eligible Pool Balance on such date, minus (iv) any unallocated collections of principal on deposit in the Collection Account at such time, minus (v) the Class A Aggregate Loan Principal Balance at such time.

Class B Borrowing Base. An amount equal to the sum of (a) the product of the Class B Advance Rate multiplied by the Adjusted Pool Balance excluding Current Cash Balances therefrom (for any Payment Date, as of the related Determination Date) and (b) Current Cash Balances.

Class B Borrowing Base as set forth in Section 1.1 of the Credit Agreement is amended and restated in its entirety as follows:

Class B Borrowing Base means, on any day, the excess, if any, of (a) the ---------------------- sum of (i) the Aggregate Principal Balance of all Eligible Receivables on such day minus (ii) the Excluded Receivables Balance on such day plus (iii) the amount on deposit in the Collateral Account on such day plus (iv) (without duplication) the amount of principal collections on deposit in the Collection Account on such day over (b) the sum of (i) the Class B Required Note Enhancement, (ii) the Class A Principal Balance, (iii) the Class A Swingline Percentage of the Class S Principal Balance and (iv) the Class B Swingline Percentage of the Class S Principal Balance.