French Borrowing Base definition

French Borrowing Base means, in respect of each French Borrower at any time, the sum of:
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French Borrowing Base means 85% of the French Borrower’s Eligible Accounts at such time minus Reserves.
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French Borrowing Base means, at any time, the difference of
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Examples of French Borrowing Base in a sentence

  • The French Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the US Agent pursuant to this Agreement, but giving effect to any Reserves in effect at such time that were established after preparation of such Borrowing Base Certificate.

  • The US Administrative Agent shall have received a Borrowing Base Certificate with respect to the US Borrowing Base, the Total Shared Borrowing Base, the French Borrowing Base, the German Borrowing Base, the Irish Borrowing Base and the Swiss Borrowing Base, each calculated as of November 30, 2010, which meets the requirements of Section 5.1(m)(i).

  • Notwithstanding the foregoing or any other provision of this Agreement, the French Borrowing Base shall be deemed to be US$0.00 unless and until the Applicable French/Italian Borrowing Base Conditions have been satisfied.


More Definitions of French Borrowing Base

French Borrowing Base means, as of any date of calculation, (x) at any time prior to the French Borrowing Base Trigger Date, zero, and (y) at any time after the French Borrowing Base Trigger Date, the amount calculated pursuant to the Borrowing Base Certificate most recently delivered to the Administrative Agent and each of the Co-Collateral Agents in accordance with Section 9.01(j), equal to, without duplication, the sum of (a) 85% of the then extant Net Orderly Liquidation Value of French Eligible Inventory of the French Borrower minus (b) the sum (without duplication) of the Reserves then established by the Co-Collateral Agents with respect to the French Borrowing Base. The Co-Collateral Agents shall have the right (but no obligation) to review such computations and if such computations have not been calculated in accordance with the terms of this Agreement, the Co-Collateral Agents shall have the right to correct any such errors.
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French Borrowing Base means, at any time, an amount (expressed in US Dollars, based on Exchange Rates prevailing at the time the applicable Borrowing Base Certificate is prepared, where applicable) equal to (a) 85% of Eligible Accounts of the French Borrower at such time, minus (b) all Reserves in effect at such time in respect of such Borrowing Base minus (c)
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