FACILITY A BORROWING BASE AMOUNT definition

FACILITY A BORROWING BASE AMOUNT means the amount available to Borrower at any time based upon the valuation of the Mortgaged Properties, projected oil and gas prices, underwriting factors, and any other factors deemed relevant by the Required Lenders in their sole and complete discretion, all as evaluated and determined by the Required Lenders in their sole and complete discretion on a quarterly basis on October 1, January 1, April 1, and July 1. In addition, the Required Lenders, in their sole and complete discretion, may conduct one unscheduled Facility A Borrowing Base Amount redetermination subsequent to each quarterly redetermination, and the Borrower, at its option may request (and the Required Lenders shall promptly thereafter perform) one Facility A Borrowing Base Amount redetermination after each scheduled quarterly redetermination by the Required Lenders. The Facility A Borrowing Base Amount also is subject to mandatory Quarterly Reductions. The Required Lenders are not obligated under any circumstances to establish the Facility A Borrowing Base Amount based solely on oil and gas valuation data for the Mortgaged Properties. The Facility A Borrowing Base Amount as of the Third Amendment Effective Date is $10,000,000.00. All of the foregoing determinations and valuations shall be in accordance with the Lenders’ normal practices and standards for oil and gas loans as may exist at the particular time of determination and valuation. The Facility A Borrowing Base Amount shall never exceed $75,000,000.00, and the sum of the Facility A Borrowing Base Amount and the Facility B Borrowing Base Amount shall never exceed $100,000,000.00.
Sample 1
FACILITY A BORROWING BASE AMOUNT means on any day, an amount equal to 35 % of Zions Stock Value on such day.
Sample 1
FACILITY A BORROWING BASE AMOUNT means at any time the valuation of the Borrower's Mortgaged Properties, projected oil and gas prices, underwriting factors, and any other factors deemed relevant by the Lender in its sole and complete discretion, all as evaluated and determined by the Lender in its sole and complete discretion on a semi-annual basis on October 31 and April 30. In addition, the Lender, in its sole and complete discretion, may conduct one unscheduled Facility A Borrowing Base Amount redetermination subsequent to each semi-annual redetermination, and the Borrower, at its option may request (and the Lender shall promptly thereafter perform) one Facility A Borrowing Base Amount redetermination after each scheduled semi-annual redetermination by the Lender. The Facility A Borrowing Base Amount also is subject to mandatory Quarterly Reductions. The Lender is not obligated under any circumstances to establish the Facility A Borrowing Base Amount based solely on oil and gas valuation data for the Mortgaged Properties. The Facility A Borrowing Base Amount, based on an effective date of December 12, 2002, is $13,000,000.00. All such determinations and valuations shall be in accordance with the Lender's normal practices and standards for oil and gas loans as may exist at the particular time of determination and valuation. The sum of the Facility A Borrowing Base Amount and the Facility B Borrowing Base Amount shall never exceed $30,000,000.00.
Sample 1

Examples of FACILITY A BORROWING BASE AMOUNT in a sentence

  • IN ADDITION, THE BORROWER UNDERSTANDS AND AGREES THAT NOTWITHSTANDING ANY PROVISION IN THIS AGREEMENT OR THE NOTES TO THE CONTRARY, THAT NO LENDER SHALL BE OBLIGATED TO FUND ANY AMOUNT IN EXCESS OF THE FACILITY A BORROWING BASE AMOUNT THEN IN EFFECT OR THE FACILITY B BORROWING BASE AMOUNT THEN IN EFFECT, AS THE CASE MAY BE.

  • All sums which may from time to time be paid under this Policy during each Period of Insurance shall be accounted in diminution of the respective Sums Insured so that during any one Period of Insurance the total sum payable by the Company shall not exceed the sum set opposite each item of the Property or in the whole the Total Sum Insured.


More Definitions of FACILITY A BORROWING BASE AMOUNT

FACILITY A BORROWING BASE AMOUNT means an amount equal to the sum of (i) the Facility A Receivables Value as of the date the Facility B Borrowing Base Amount is calculated.
Sample 1
FACILITY A BORROWING BASE AMOUNT means the Borrowing Base Amount in effect from time to time less, at all times prior to the Facility B Termination Date and the payment in full of all obligations of Borrower to Bank under Facility B, $1,500,000.00. The initial Facility A Borrowing Base Amount is $14,120,000.00
Sample 1

Related to FACILITY A BORROWING BASE AMOUNT

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

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

  • Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.

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

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

  • 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.

  • 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.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • 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.

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

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

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • 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.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

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

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

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

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

  • 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.

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

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Facility A Commitment means, with respect to each Facility A Lender, the commitment, if any, of such Lender to make Facility A Revolving Loans and to acquire participations in Facility A Letters of Credit, Facility A Protective Advances and Facility A Swingline Loans, expressed as an amount representing the maximum possible aggregate amount of such Lender’s Facility A Revolving Exposure hereunder, as such commitment may be reduced or increased from time to time pursuant to (a) Section 2.09 and (b) assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Facility A Commitment is set forth on the Commitment Schedule, or in the Assignment and Assumption pursuant to which such Lender shall have assumed its Facility A Commitment, as applicable. The initial aggregate amount of the Lenders’ Facility A Commitments is $150,000,000.