Current Borrowing Base Amount definition
Current Borrowing Base Amount means, on any date of determination and as determined by the Administrative Agent, an amount equal to the aggregate sum for each Portfolio Investment (including those in respect of which there is an outstanding Purchase Commitment that has not yet settled (except as set forth in the proviso below)) of the product of (x) the Adjusted Market Value Amount of such Portfolio Investment and (y) the Facility Advance Rate; provided that, for the avoidance of doubt, (1) any Portfolio Investment which has traded but not settled after completion of the Settlement Period (other than in connection with any sale pursuant to a Permitted Securitization Event) and (2) any Ineligible Investments will be excluded from the calculation of the Current Borrowing Base Amount and assigned a value of zero for such purposes.
Current Borrowing Base Amount means, on any date of determination and as determined by the Administrative Agent in its sole discretion, the product of (x) the aggregate sum for each Portfolio Investment of the Current Market Value Amount of such Portfolio Investment, minus the Excess Concentration Amount and (y) the Facility Advance Rate; provided that, for the avoidance of doubt, any Ineligible Investments will be excluded from the calculation of the Current Borrowing Base Amount and assigned a value of zero for such purposes.
Examples of Current Borrowing Base Amount in a sentence
If at any time the total outstanding borrowings under the Line of Credit exceed the then Current Borrowing Base Amount, then Borrower shall immediately repay the amount of such excess.