Global Borrowing Base definition

Global Borrowing Base means the “Global Borrowing Base” as determined from time to time pursuant to Section 2.7.

Global Borrowing Base means the sum of the Canadian Borrowing Base, the Dutch Borrowing Base, the German Borrowing Base, the U.S. Borrowing Base and the U.K. Borrowing Base (calculated giving effect to the proviso in the definition of “PP&E Component”).

Global Borrowing Base means the sum of the ABL Borrowing Base and the Term Loan Borrowing Base.

Examples of Global Borrowing Base in a sentence

• The failure of the Engineering Banks to make any such reduction upon receipt of any notice with respect to any such claim, dispute or casualty shall not preclude their later election to so reduce the Global Borrowing Base.

• Upon the consummation of the Sale of any Property or any Borrowing Base Subsidiary constituting a permitted Sale under clause (iv) of Section 11.3, the Global Borrowing Base shall be reduced by an amount required under Section 11.3 on account of such Sale.

• The Company may request one Global Borrowing Base determination between any regularly scheduled semi-annual redeterminations of the Global Borrowing Base by delivery to the Global Administrative Agent, which will then notify the Engineering Banks, the Australian Administrative Agent (for its own behalf and on behalf of the Australian Lenders), the Canadian Administrative Agent (for its own behalf and on behalf of the Canadian Lenders) and the U.S. Lenders, of a written request for such determination.

• The redeterminations of the Global Borrowing Base described in the preceding sentence shall be made as follows: The Engineering Banks shall make a determination of the Global Borrowing Base in accordance with the criteria described in clause (c) of this Section 2.3, within thirty (30) days after receipt of the Approved Engineers' Report or the Company's Engineers' Report, as the case may be.

• The Borrower also shall deposit cash collateral pursuant to this paragraph as and to the extent required by Section 2.10, and any such cash collateral so deposited and held by the Canadian Administrative Agent hereunder shall constitute part of the Global Borrowing Base for purposes of determining compliance with Section 2.10.

More Definitions of Global Borrowing Base

Global Borrowing Base means at any time an amount determined in accordance with Section 2.07, as the same may be adjusted from time to time pursuant to Section 8.12(c), Section 9.02(n), or Section 9.10.

Global Borrowing Base the sum of the U.K. Borrowing Base and the U.S. Borrowing Base; provided, that the U.K. Borrowing Base may not exceed 50% of the Global Borrowing Base.

Global Borrowing Base means the sum of the Canadian Borrowing Base, the Dutch Borrowing Base, the U.S. Borrowing Base and the U.K. Borrowing Base.

Global Borrowing Base means the Global Borrowing Base then in effect as calculated and established in accordance with the terms and provisions of Section 2.3, as such Global Borrowing Base shall be reduced from time to time pursuant to Sections 2.3(a), (d), (e) or (f) or Section 11.3.

Global Borrowing Base shall have the meaning ascribed to such term in the U.S. Credit Agreement (without amendment except as permitted pursuant to the Intercreditor Agreement).

Global Borrowing Base means, at any time of determination, an amount equal to the sum of (a) the U.S. Borrowing Base as of such time, plus (b) the European Borrowing Base as of such time.

Global Borrowing Base at any date, eighty-five percent (85%) of the sum of each of the following, without duplication: (a) cash of any Loan Party held overnight in such Loan Party’s Store Safe; (b) the cash balances held in Store Accounts of Loan Parties; (c) the amount payable under checks properly endorsed to a Loan Party and held in such Loan Party’s Store Safe or converted to electronic form; (d) clearing house transfers to a Loan Party initiated on the previous day and transfers of same-day funds to a Loan Party to be credited to such Loan Party’s Store Account; (e) cash held overnight by armored car carriers for the benefit of Loan Parties; (f) cash balances held in demand deposit accounts and/or investment accounts of Loan Parties on which the Administrative Agent, for the benefit of the Secured Parties, has been granted a first priority perfected Lien; and (g) Eligible CLP Assets of Loan Parties; provided that, in no event shall any of the items described in subparagraphs (a) through (g) above be included in any calculation of the “Global Borrowing Base” to the extent any of the same are subject to any Liens other than Permitted Liens.