Excess Borrowing Base definition

Excess Borrowing Base means the amount, if any, by which the Borrowing Base exceeds the Revolving Credit Commitments.
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Excess Borrowing Base means, as of any time of determination thereof, the amount, if any, by which the Borrowing Base exceeds the Revolving Credit Commitments.
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Excess Borrowing Base means, as of any date of determination, the difference between the Borrowing Base as of such date and the Maximum Amount as of such date.
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Examples of Excess Borrowing Base in a sentence

  • Pursuant to Section 5.2(c) of the Credit Agreement, the current Excess Borrowing Base Availability [$ ], which o satisfies o does not satisfy the requirement Company maintain an Excess Borrowing Base Availability of at least $5,000,000.

  • Pursuant to Section 5.2(d) of the Credit Agreement, Company has maintained an average minimum Excess Borrowing Base Availability of [$ ] during the calendar month, and has o satisfied o not satisfied the requirement that Company maintain a minimum Excess Borrowing Base Availability of not less than $3,000,000 at all times.

  • Company shall maintain, at all times, a minimum Excess Borrowing Base Availability of not less than $5,000,000.

  • Receipt by the Agent of evidence satisfactory to the Agent that the Borrowers have Excess Borrowing Base Availability of at least $3,000,000 as of the Closing Date, after giving effect to the payment of fees and expenses associated with the closing of this Credit Agreement, the making of the Loans and other extensions of credit and the application of the proceeds thereof to be made on the Closing Date and after deductions for past due payables and other obligations.

  • Company shall maintain, at all times, a minimum Excess Borrowing Base Availability of not less than $3,000,000.

  • Notwithstanding any other provision of this Agreement, and except as permitted under Section 4.2 below, at no time will the amount advanced by the Bank under Facility Number 1 or the face amount of Documentary Letters of Credit issued under Facility Number 2 exceed the lesser of (i) the Excess Borrowing Base Amount or (ii) the stated amount of each Facility (i.e., $17,500,000 under Facility 1 and $15,000,000 under Facility 2).

  • Each Borrowing shall be in a minimum principal amount of $250,000 or, if less, the entire Borrowing Base Amount, Future Funding Amount or Excess Borrowing Base Capacity, as applicable, with respect to such Pledged Asset (or, in any event, such other amount as the Administrative Agent may agree).

  • Make a Restricted Payment, other than a Permitted Investment, and other than (a) to pay dividends or make distributions of cash from Parent or any Subsidiary to any Credit Party, and (b) to repurchase shares or warrants issued by the Credit Parties, so long as immediately after such repurchase the sum of Excess Borrowing Base Availability plus Unrestricted Cash Balances shall not be less than $20,000,000.


More Definitions of Excess Borrowing Base

Excess Borrowing Base means, at the relevant time of reference, the amount which is equal to (i) the excess of the Borrowing Base over the Commitment with respect to the Revolving Loan plus (ii) such additional portion of the Borrowing Base as Q.E.P., by written notice to Lender, allocates to BV, which portion shall be subtracted on a dollar-for-dollar basis in calculating the Borrowing Base. By way of example, if the Borrowing Base is $12,000,000, the Commitment with respect to the Revolving Loan is $10,000,000, and Q.E.P. allocates an additional $1,000.000 of the Borrowing Base to BV, the Excess Borrowing Base would be $3,000,000 (i.e. (i) $12,000,000 minus $10,000,000 plus (ii) $1,000,000) and the Borrowing Base would be $9,000.000.
Sample 1
Excess Borrowing Base means, at the relevant time of reference, the amount which is equal to (i) the excess of the Borrowing Base over the Commitment with respect to the Revolving Loan plus (ii) without duplication, such additional portion of the Borrowing Base as Q.E.P., by written notice to the Agent, allocates to BV and to the Foreign Companies, which portion shall be subtracted on a dollar-for-dollar basis in calculating the Borrowing Base. By way of example, if the Borrowing Base is $12,000,000, the Commitment with respect to the Revolving Loan is $10,000,000, and Q.E.P. allocates an additional $1,000,000 of the Borrowing Base to BV, the Excess Borrowing Base would be $3,000,000 (i.e. (i) $12,000,000 minus $10,000,000 plus (ii) $1,000,000) and the Borrowing Base would be $9,000,000.
Sample 1

Related to Excess Borrowing Base

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

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

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

  • 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.

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

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

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

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

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

  • Borrowing Base Amount means:

  • 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.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Aggregate Revolver Outstandings means, at any date of determination: the sum of (a) the unpaid balance of Revolving Loans, (b) the aggregate amount of Pending Revolving Loans, (c) one hundred percent (100%) of the aggregate undrawn face amount of all outstanding Letters of Credit, and (d) the aggregate amount of any unpaid reimbursement obligations in respect of Letters of Credit.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Canadian Availability means, at any time, an amount equal to (a) the lesser of (i) the aggregate Canadian Revolving Commitments at such time and (ii) the Canadian Borrowing Base at such time, minus (b) Commitment Reserves established with respect to the Canadian Loan Parties and/or the Canadian Collateral at such time minus (c) the Aggregate Canadian Credit Exposure at such time.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

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

  • Aggregate Revolving Credit Exposure means the aggregate amount of the Lenders’ Revolving Credit Exposures.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.