International Borrowing Base definition

International Borrowing Base means (i) an amount equal to the sum of 90% of the Eligible Accounts Receivable of the Borrower which is supported by a firm Export Order or Indirect Export Order to which no party is in breach of any material provision thereof, and (ii) 75% of the Eligible Inventory of the Borrower supported by firm Export Orders or firm Indirect Export Orders. Notwithstanding anything herein to the contrary, the International Borrowing Base shall not include the amount of any receivable supported by a letter of credit prior to the date of shipment of the Items covered by the subject letter of credit. That is, an account receivable shall not be included in the International Borrowing Base until shipment of the Items, regardless of when the letter of credit is in effect.
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International Borrowing Base means an amount equal to 90% of the Eligible Export-Related Accounts Receivable of the Loan Parties which is supported by a firm Export Order to which no party is in breach in any material respect of any material provision thereof.
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International Borrowing Base means an amount equal to the sum of:
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Examples of International Borrowing Base in a sentence

  • Neither this Agreement nor any other document, certificate or statement furnished to the Bank by or on behalf of the Borrower or any Subsidiary or Guarantor in connection with this Agreement (including, without limitation, any Export Order or any International Borrowing Base Certificate) contains any statement of fact which is untrue or incorrect in any material respect or omits to state a fact necessary in order to make the statements contained herein and therein not misleading.

  • The inclusion of any receivable in the Weekly International Borrowing Base Certificate shall constitute a representation and warranty by the Borrower that such receivable is an Eligible Export-Related Accounts Receivable.

  • Without limitation of the foregoing, each Letter of Credit shall be issued only upon receipt of an International Borrowing Base Certificate current within the past five (5) Business Days.

  • The Borrower and each Guarantor and the Bank shall have obtained all Governmental Approvals required for the making and carrying out of this Agreement, the issuance of Letters of Credit pursuant hereto and the issuance of the Note and the execution, delivery and performance of the applicable Export Order that is included in the International Borrowing Base.

  • The Bank may, on demand, inspect the documentation supporting any Weekly International Borrowing Base Certificate.

  • Each letter of credit or bank guaranty issued in favor of the Borrower with respect to the sale of Items related to Export Orders to be financed under this Agreement and included in the International Borrowing Base, if any, (a) shall be in form and substance reasonably satisfactory to the Bank, and (b) shall be issued in the manner required by the Bank by financial institutions reasonably acceptable to the Bank.

  • The Bank shall have timely received from the Borrower a duly executed and completed Request for Borrowing in respect of Loans to be made on such Borrowing Date, an International Borrowing Base Certificate dated within the past five (5) Business Days, and such other documents and certificates relating to the transactions herein contemplated as the Bank may reasonably request.

  • LETTERS OF CREDIT 2 2.1 Commitment 2 2.2 International Borrowing Base 3 2.3 Letters of Credit 4 2.4 Letter of Credit Requests 5 2.5 Agreement to Repay Letter of Credit Drawings 5 2.6 Conflict Between Applications and Agreement 7 2.7 Increased Costs; Increased Capital 7 2.8 Default Rate 8 2.9 Facility Subject to Ex-Im Bank Rules 8 2.10 Currency Equivalents 9 ARTICLE III.

  • Export-related receivables and inventory no longer Eligible-which have previously been included in an International Borrowing Base Certificate and which remain as Collateral for the International Obligations.

  • That is, an account receivable shall not be included in the International Borrowing Base until shipment of the Items, regardless of when the letter of credit is in effect.

Related to International Borrowing Base

  • International Borrower In connection with any Mortgage Loan, a borrower who is (a) a United States citizen employed in a foreign country, (b) a non-permanent resident alien employed in the United States or (c) a citizen of a country other than the United States with income derived from sources outside the United States.

  • 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:

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

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

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

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

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

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

  • Initial Borrowing Date means the date occurring on or after the Effective Date on which the initial Borrowing of Loans occurs.

  • Original Borrower means, as the context requires, any of them;

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • 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.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • foreign financial institution means an institution registered as a foreign financial institution with the Ministry of Finance in the Mexican Banking and Financial Institutions, Pensions, Retirement and Foreign Investment Funds Registry for purposes of Article 195, Section I of the Mexican Income Tax Law.

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

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 24 (Changes to the Obligors).

  • Initial Borrowing means the first Borrowing made pursuant to this Agreement.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

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

  • Initial Revolving Borrowing means one or more borrowings of Revolving Credit Loans or issuances or deemed issuances of Letters of Credit on the Closing Date as specified in the definition of the term “Permitted Initial Revolving Borrowing.”

  • Foreign Subsidiary Borrower means each Borrower that is a Foreign Subsidiary.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Domestic Subsidiary Borrower means any Subsidiary Borrower which is a Domestic Subsidiary.

  • EEA Financial Institution means (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent.