Consolidating Borrowing Base definition

Consolidating Borrowing Base means, for any Obligor as of any date of determination, an amount equal to the sum of (a) up to 85% of such Obligor’s Eligible Accounts less such Obligor’s Dilution Reserve and less such Obligor’s Credit Memoranda Reserve, plus (b) up to the Inventory Advance Rate Percentage (the Seasonal Inventory Advance Rate Percentage during the period from January 1 through March 31 of each year) of such Obligor’s Eligible Inventory, and less, in each case, such other Reserves (excluding Credit Memoranda Reserves and Dilution Reserves included in the definition thereof) as Agent in its reasonable credit judgment may elect to establish with prior or contemporaneous written notice to Borrower.
Sample 1
Consolidating Borrowing Base means, for the Borrower or any Domestic Subsidiary Guarantor as of any date of determination, an amount equal to the sum of up to 85% (90% as of any date of determination during the period from January 1 through April 30 of each year) of such Person’s Eligible Accounts less such Person’s Dilution Reserve and less such Person’s Credit Memoranda Reserve, less a reserve in the amount of Secured Hedging Reimbursement Obligations and Obligations under Secured Hedging Documents marked-to-market on a monthly basis, and less such other Reserves (excluding Credit Memoranda Reserves and Dilution Reserves included in the definition thereof) as the Administrative Agent in its reasonable credit judgment may elect to establish with prior or contemporaneous written notice to the Borrower.
Sample 1

Examples of Consolidating Borrowing Base in a sentence

  • Neither Agent nor Lender will be required to make any advance pursuant to any telephonic or written notice or a Notice of Borrowing, unless all of the terms and conditions set forth in Section 3 and the Conditions Rider have been satisfied and Agent has also received the most recent Consolidating Borrowing Base Certificates and Consolidated Borrowing Base Certificate and all other documents required under Section 5 and the Reporting Rider by 1:00 p.m. Chicago time on the date of such funding request.

  • Borrower shall cause US Borrower to deliver to Agent copies of all deliveries required under paragraph (F) of the Reporting Rider to the US Facility Loan Agreement, contemporaneously with providing such deliveries to US Facility Agent (including, without limitation, a copy of the US Obligors Consolidating Borrowing Base Certificate).

Related to Consolidating Borrowing Base

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

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

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

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

  • Consolidated Total Borrowings means in relation to the Group, an amount (expressed in Singapore dollars) for the time being, calculated on a consolidated basis, in accordance with generally accepted accounting principles in Singapore, equal to the aggregate of:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

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

  • Total Borrowings means, in respect of the Company on a consolidated basis, as of a given date the aggregate of the following, without duplication:

  • Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.

  • 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.

  • Revolving Borrowing means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Proposed Borrowing Base Notice has the meaning assigned to such term in Section 2.07(c)(ii).

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Incremental Term Loan Borrowing Date means, with respect to each Class of Incremental Term Loans, each date on which Incremental Term Loans of such Class are incurred pursuant to Section 2.01(b) and as otherwise specified in any amendment providing for Incremental Term Loans in accordance with Section 2.22.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.