EOD Borrowing Base definition
EOD Borrowing Base means, as of any Business Day, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Account, (ii) an amount equal to the product of (x) the EOD Advance Rate as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral from the calculation of the Aggregate Net Collateral Balance) and (iii) the Dollar Equivalent of the aggregate sale price of the Sale Settlement Pending Collateral.
EOD Borrowing Base means, as of any Business Day, an amount equal to the sum of (i) the Dollar Equivalent of the amounts in the Principal Collection Account, (ii) an amount equal to the product of (x) the EOD Advance Rate as of such date, (y) the Aggregate Net Collateral Balance as of such date (excluding the Sale Settlement Pending Collateral from the calculation of the Aggregate Net Collateral Balance) and (iii) the Dollar Equivalent of the aggregate sale price of the Sale Settlement Pending Collateral.
Examples of EOD Borrowing Base in a sentence
For the avoidance of doubt, any Collateral Asset that, as a result of any amendment or supplement thereto, ceases to qualify as an Eligible Collateral Asset shall not be included in the Borrowing Base, Distribution Borrowing Base or the EOD Borrowing Base.
The Collateral Agent shall re-calculate pursuant to the preceding sentence: (i) the Borrowing Base, (ii) the Distribution Borrowing Base, (iii) the EOD Borrowing Base and (iv) such other re-calculations as may be mutually agreed upon by the Collateral Agent, the Servicer and the Administrative Agent.