MFC Borrowing Base definition

MFC Borrowing Base means, as determined pursuant to the most recently required Borrowing Base Certificate:

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MFC Borrowing Base. A. MFC's Eligible Medallion Loans* _______0 B. Loans in Line A not collectible or 60+ days past due _______0 C. Line A minus Line B _______0 D. 83% of Line C _______0 E. MFC's Eligible Commercial Loans* _______0 F. Loans in Line F not collectible or 60+ days past due* _______0 G. Line E minus Line F _______0 H. 75% of Line G _______0 I. Line D plus Line H _______0 J. MFC Cash and Short Term Investments _______0 K. MFC BORROWING BASE - Line I plus Line J _______0 L. Amount outstanding to MFC (not downstreamed to BL) _______0 M. Line K minus Line L _______0 (if positive, amount available to MFC; if negative amount due) *without excluding loans not collectable or 60+ days past due.

Examples of MFC Borrowing Base in a sentence

• The undersigned officers of the Borrowers certify that the information furnished herein as of ___________, 200__ as to the MFC Borrowing Base and the MBC Borrowing Base and Eligible Loans of MFC and MBC is true and correct and that as of the date hereof no Event of Default, or event which after notice or lapse of time or both would be an Event of Default exists under the Loan Agreement.

• The Collateral and the Agent's rights with respect to the Collateral (to the extent such Collateral is included in the MFC Borrowing Base or the MBC Borrowing Base) are not subject to any setoff, claims, withholdings or other defenses.

• Suffer or permit at any time the aggregate unpaid balance of all Senior Debt to exceed the MFC Borrowing Base plus the MBC Borrowing Base.