European Borrowing definition
Examples of European Borrowing in a sentence
The authority of the Administrative Agent to make European Overadvances is limited to an aggregate amount not to exceed, when taken together with any European Protective Advances 10% of the European Borrowing Base in effect at such time.
For the avoidance of doubt, following the establishment of Additional European Incremental Revolving Facility, the delivery of the European Borrowing Base Certificate shall be governed by the terms of the applicable Incremental Revolving Facility Amendment (including any amendments to this Agreement in connection therewith and as contemplated by Section 2.22).
Each Lender shall make the amount of such Lender's Pro Rata Share of the requested Borrowing available to Agent in immediately available funds in the Applicable Currency, to Agent's Applicable Account, not later than 2:00 p.m. (Boston time) on the Funding Date applicable thereto (or, in the case of a European Borrowing, no later than 12:00 p.m. (London time) on the Funding Date applicable thereto).
Notwithstanding the foregoing, to the extent any Post Closing Borrower has not satisfied the conditions set forth in Section 5.2, its assets shall not be included in any Borrowing Base (including the Aggregate Borrowing Base and the Aggregate European Borrowing Base) and the Borrowing Base of such Post Closing Borrower (and in the case of a Post Closing Borrower from England and Wales or the Netherlands, its contribution towards the Pooled Borrowing Base) shall be zero.
The Borrowers shall furnish to the Administrative Agent any information that the Administrative Agent may reasonably request regarding the determination and calculation of the U.S. Borrowing Base and European Borrowing Base including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all Account Debtors in respect of Accounts referred to therein.
European Borrowing Availability may be further reduced by Reserves, determined jointly by, and imposed jointly by, Administrative Agent and European Loan Agent in their reasonable credit judgment and upon 10 days prior written notice to European Borrower Representative.
Duly executed originals of an initial U.S. Borrowing Base Certificate from U.S. Borrower and initial European Borrowing Base Certificate from European Borrower, each dated the Closing Date, reflecting, in the case of U.S. Borrowing Base Certificate, information concerning Eligible Accounts and Eligible Inventory of U.S. Borrower and Samsonite Stores as of a date not more than seven (7) days prior to the Closing Date.
The Equivalent Amount in Dollars of each European Revolving Credit Advance shall be recalculated hereunder on each date on which it shall be necessary to determine the European Borrowing Availability or the European Revolving Loan Outstandings on such date.
As soon as available and in any event within ten (10) Business Days after the end of each month, and from time to time upon the request of European Loan Agent, European Borrower Representative will deliver a European Borrowing Base Certificate (in substantially the same form as Exhibit 4.6(d)(ii), the "European Borrowing Base Certificate") as at the last day of such period.
European Revolving Credit Advances may be repaid and reborrowed; provided that the amount of any European Revolving Credit Advance to be made at any time shall not exceed European Borrowing Availability.