Class B Borrowing Base Deficiency definition

Class B Borrowing Base Deficiency means, as of any day, the amount, if any, by which the Total Utilization of Class B Revolving Commitments exceeds the Class B Borrowing Base.

Class B Borrowing Base Deficiency means, as of any date of determination, the positive excess, if any, of the Class B Invested Amount over the Class B Borrowing Base, after application of funds, if any, by the Administrative Agent in reduction of the Class B Invested Amount as contemplated by Section 2.06(c) of this Agreement.

Class B Borrowing Base Deficiency means, on any date of determination, the positive excess, if any, of (a) the Class B Advances Outstanding as of such date, over (b) the sum of (i) all amounts on deposit in the Concentration Account as of such date, (ii) all amounts on deposit in the Collection Account (exclusive of the Interest Reserve Amount) as of such date and (iii) the Aggregate Advance Amount.

Examples of Class B Borrowing Base Deficiency in a sentence

• 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”).

• A Class A Borrowing Base Deficiency or, during the Availability Period, a Class B Borrowing Base Deficiency continues for more than two (2) Business Days.

• Prepayments made pursuant to this Section 2.06 shall be allocated pro rata between the Class A Loans and the Class B Loans, unless otherwise required to be allocated on a non-pro rata basis in order to cure a Class A Borrowing Base Deficiency or Class B Borrowing Base Deficiency.

More Definitions of Class B Borrowing Base Deficiency

Class B Borrowing Base Deficiency means, as of any Payment Date, the amount by which the Outstanding Class B Principal Amount on such Payment Date exceeds the Class B Borrowing Base less the Class A Borrowing Base on such Payment Date.

Class B Borrowing Base Deficiency shall have the meaning set forth in Section 2.9.

Class B Borrowing Base Deficiency means, as of any day, the amount, if any, by which the Total Utilization of Class B Revolving Commitments exceeds the Class B Borrowing Base, provided that, if solely as a result of the occurrence of an SPV Event and a consequent reduction in the Applicable Class B Advance Rate in accordance with the proviso in the definition thereof, a deficiency occurs hereunder that would otherwise be deemed a “Class B Borrowing Base Deficiency” or a “Borrowing Base Deficiency”, then notwithstanding the foregoing, no Class B Borrowing Base Deficiency or “Borrowing Base Deficiency”, Default or Event of Default shall be deemed to exist hereunder unless such deficiency is not cured by the thirtieth (30th) day after the occurrence of such SPV Event.

Class B Borrowing Base Deficiency means, on any date of determination, the positive excess, if any, of (a) the Class B Advances Outstanding as of such date, over (b) the sum of (i) all amounts on deposit in the Concentration Account as of such date, (ii) all amounts on deposit in the Collection Account (exclusive of the Interest Reserve Amount) as of such date and

Class B Borrowing Base Deficiency means, as of any day, the amount, if any, by which the sum of the Total Utilization of Class B Revolving Commitments exceeds the Class B Borrowing Base. “Class B Commitment Fee” means [***] “Class B Commitment” means a Class B Revolving Lender’s Class B Revolving Commitment. “Class B Indemnitee” means an Indemnitee who is a Class B Revolving Lender, an Affiliate of a Class B Revolving Lender or an officer, partner, director, trustee, employee or agent of a Class B Revolving Lender. “Class B Lenders” means, collectively, the Class B Revolving Lenders. “Class B Revolving Availability” means, as of any date of determination, the amount, if any, by which the Class B Borrowing Base exceeds the Total Utilization of Class B Revolving Commitments. “Class B Revolving Commitment” means the commitment of a Class B Revolving Lender to make or otherwise fund any Class B Revolving Loan. The amount of each Class B Revolving Lender’s Class B Revolving Commitment, if any, is set forth on 0 or in the applicable Assignment Agreement, subject to any adjustment or reduction pursuant to the terms and conditions of this Agreement. The Class B Revolving Commitment of each Class B Revolving Lender will be equal to zero ($0) on the Revolving Commitment Termination Date. “Class B Revolving Lender” means each financial institution listed on the signature pages hereto as a Class B Revolving Lender, and any other Person that becomes a party hereto as a Class B Revolving Lender pursuant to an Assignment Agreement. “Class B Revolving Loan” means a Revolving Loan made by a Class B Revolving Lender to the Borrower pursuant to Section 0. “Class B Undrawn Fee” means [***] “Collateral” means, collectively, all of the property (including Capital Stock of the Borrower) in which Liens are purported to be granted pursuant to the Collateral Documents as security for the Obligations. “Collateral Agent” as defined in the preamble hereto.

Class B Borrowing Base Deficiency has the meaning set forth in Section --------------------------------- 5.1(vi) of the Indenture. Annex A-9

Class B Borrowing Base Deficiency means, as of any date of determination, the positive excess, if any, of the Class B Invested Amount over the Class B Borrowing Base, after application of funds, if any, by the Administrative Agent in reduction of the Class B Invested Amount as contemplated by S ection 2.06(c) of this Agreement.