Examples of Domestic Borrowing Base in a sentence
Subject to and upon the terms and conditions of this Agreement and any other agreement that Borrower may enter into with Lender in connection with foreign exchange transactions (“FX Contracts”) and subject to the availability under the Domestic Credit Limit and the Domestic Borrowing Base, Borrower may request Lender to enter into FX Contracts with Borrower, which shall be due no later than the Maturity Date unless cash secured on terms satisfactory to Lender.
The Dollar Equivalent of the aggregate amount of all such Letter of Credit Obligations incurred for the benefit of the Domestic Borrowers shall not at any time exceed the Domestic Borrowing Base less the aggregate outstanding principal balance of the Revolving Credit Advances and Swing Line Advances made to Domestic Borrowers.
Such excess amount shall constitute the “Converted Domestic Borrowing Base Excess”.
Nothing constituting Converted Domestic Borrowing Base Excess shall be available to support Credit Facility Outstandings under the Domestic Facility.
The Administrative Agent shall give to the Borrowers written notice of the amount of the Borrowing Base and/or the Domestic Borrowing Base determined by the Administrative Agent as a result of such calculation to the extent the Administrative Agent’s calculation thereof differs from that of the Borrowers.