Facility Borrowing Base definition

Facility Borrowing Base means, at any date, the lesser of (a) gross consolidated collections from operations of the Borrowers for the fifteen (15) calendar weeks immediately preceding such date, computed on a pro forma basis to include Acquisitions consummated after the Effective Date but prior to such date with the approval of the Lender, (b)(i) Adjusted Consolidated EBITDA for the twelve calendar months immediately preceding such date, multiplied by (ii) 3.35, and (c) 515,150,000.”
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Facility Borrowing Base contained in Section 1.01 of the Financing Agreement is hereby amended by deleting the first sentence thereof and substituting therefor the following:
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Facility Borrowing Base shall have the meaning assigned to such term in Section 12.17.
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Examples of Facility Borrowing Base in a sentence

  • Notwithstanding anything to the contrary set forth herein, after giving effect to any Revolving Loan and after the issuance of any Letter of Credit, in no event shall the Outstanding Amount exceed the then applicable Revolving Facility Borrowing Base.

  • Available liquidity as of March 31, 2023 was $84.0 million, including availability of $44.4 million on the March 2023 ABL Facility Borrowing Base Certificate.

  • Subject to the Credit Limit and the terms and conditions hereof and provided that there has been no default, at least weekly the Bank will make advances to the Borrower, based upon the Facility Borrowing Base, the Borrower's Eligible Accounts Receivable and Eligible Inventory, each as defined in Schedule "A".

  • Upon waiver or cure of the Credit Facility Borrowing Base Deficiency or the Credit Facility Default, as the case may be, the Company shall immediately give notice to the Holders of such wavier or cure and shall thereafter pay dividends to the Holders in accordance with Section 3(a), including the payment of all accrued Deferred Dividends within ten days of the effectiveness of the waiver or cure of the Credit Facility Borrowing Base Deficiency or the Credit Facility Default, as the case may be.

  • The aggregate of the sum of the principal amount of all Advances outstanding under Credit 01 and the face amount of all outstanding Letters of Credit issued shall not exceed at any time the lesser of the Credit 01 Authorized Limit and the Revolving Credit Facility Borrowing Base (as determined by the most recent Revolving Credit Facility Borrowing Base Certificate).

  • At all times while any Term Loan Obligations or any Refinancing Indebtedness related thereto and secured by a Lien on Term Priority Collateral are outstanding, permit Availability to be less than the greater of (i) 15.0% of the sum of (x) the Maximum Borrowing Amount (calculated without giving effect to the Term Loan Push Down Reserve) plus (y) the Term Facility Borrowing Base, and (ii) 11,000,000 at any time.

  • Total available liquidity as of July 31, 2021 was approximately $57.2 million, including $17.8 million available on the July 31, 2021 ABL Facility Borrowing Base Certificate, net of $10.0 million FCCR holdback.

  • As of October 31, 2021, total liquidity was approximately $80.8 million and available liquidity was approximately$70.8 million, including $30.0 million available on the October 31, 2021 ABL Facility Borrowing Base Certificate, net of $10.0 million Fixed Charge Coverage Ratio ("FCCR") holdback.

  • If at any time the sum of the aggregate outstanding Advances under Credit 01 exceed the Revolving Credit Facility Borrowing Base, the Credit 01 Borrowers shall repay an amount equal to 100% of such excess such that the Revolving Credit Facility Borrowing Base is maintained at all times.

  • ITC should explore the benefits of adopting an “annual hours” work contract.2. ITC should improve the HR planning process to ensure smooth changes and conti- nuity in the skills and competence needed at ITC.


More Definitions of Facility Borrowing Base

Facility Borrowing Base means an amount equal to the Borrowing Base as determined from time to time pursuant to Section 12.17 less all Senior Debt (excluding Indebtedness) then outstanding, as determined from time to time with each redetermination of the Borrowing Base.
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Facility Borrowing Base means at the date of determination, an amount equal to the aggregate of:
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Facility Borrowing Base means, at any date, the lesser of (a) gross consolidated collections from operations of the Borrowers for the three calendar months immediately preceding such date, computed on a pro forma basis to include Acquisitions consummated after the Effective Date but prior to such date with the approval of the Lender, (b) (1) Adjusted Consolidated EBITDA for the twelve calendar months immediately preceding such date, multiplied by (ii) 3, and (c) $13,000,000. For purposes of this definition, “Adjusted Consolidated EBITDA” means (i) “Consolidated EBITDA”, computed on a pro forma basis to include Permitted Acquisitions consummated on or after the Effective Date but prior to such date with the approval of the Lender, (ii) in the case of Application Resources Consulting Services, Inc., for any period (or portion thereof) prior to January 1, 1999, “Consolidated EBITDA” shall be computed based upon the number of months in the year 1998 to be included in such twelve-month period, multiplied by $38,167, and (iii) in the case of Innovative Client Solutions, Inc., for any period (or portion thereof) prior to January 1, 1999, “Consolidated EBITDA” shall be computed based upon the number of months in the year 1998 to be included in such twelve-month period, multiplied by $65,583.
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Related to Facility Borrowing Base

  • 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:

  • 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:

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

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans of the same Class.

  • 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.

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

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

  • 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).

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

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

  • 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.

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

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • 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.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

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

  • Revolving Advances means Advances made other than Letters of Credit.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Canadian Borrowing means a Borrowing of Canadian Loans.