Monthly Borrowing Base Delivery Event definition

Monthly Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default other than a Specified Event of Default, or (ii) the failure of the Borrower to maintain Availability at least equal to the greater of (a) thirty percent (30%) of the Loan Cap, and (b) $250,000,000320,000,000. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing at the Agent’s option (i) so long as such Event of Default other than a Specified Event of Default exists, and/or (ii) if the Monthly Borrowing Base Delivery Event arises as a result of the Borrower’s failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) thirty percent (30%) of the Loan Cap, and (y) $250,000,000320,000,000 for thirty (30) consecutive calendar days, in which case a Monthly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Monthly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.
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Monthly Borrowing Base Delivery Event means (a) Book Value of the Loan Parties’ Inventory is less than $2,500,000,000, and (b) the failure of the Borrowers to maintain Availability at least equal to fifty percent (50%) of the Loan Cap. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing until Availability has exceeded fifty percent (50%) of the Loan Cap or Book Value of the Loan Parties’ Inventory shall exceed $2,500,000,000, in each case, for thirty (30) consecutive calendar days, in which case a Monthly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Monthly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.
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Monthly Borrowing Base Delivery Event means, so long as no Weekly Borrowing Base Delivery Event has occurred and is continuing, the failure of Parent Borrower to maintain Availability at least equal to the greater of (x) $900,000,000 and (y) 60.0% of the Loan Cap. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing until Availability has exceeded the greater of (x) $900,000,000 and (y) 60.0% of the Loan Cap for thirty (30) consecutive calendar days, in which case a Monthly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Monthly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.
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More Definitions of Monthly Borrowing Base Delivery Event

Monthly Borrowing Base Delivery Event means any time when: (a) the Term Loan is outstanding, or (b) any Loans are outstanding, or (c) the outstanding L/C Borrowings exceed $30,000,000. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing at the Agent’s option until there are no Loans outstanding and all outstanding L/C Borrowings are less than $30,000,000 for sixty (60) consecutive Business Days, in which case an Monthly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Monthly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.
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Monthly Borrowing Base Delivery Event means any time when: (a) any ABL Loans are outstanding, (b) any Loans are outstanding or (c) the outstanding L/C Borrowings (as defined in the ABL Credit Agreement) exceed $30,000,000. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing at the Agent’s option until there are no Loans outstanding and all outstanding L/C Borrowings (as defined in the ABL Credit Agreement) are less than $30,000,000 for sixty (60) consecutive Business Days, in which case a Monthly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Monthly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.
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Monthly Borrowing Base Delivery Event means, so long as no Weekly Borrowing Base Delivery Event has occurred and is continuing, the failure of Parent Borrower to maintain Availability at least equal to the greater of (x)
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Monthly Borrowing Base Delivery Event shall have the meaning set forth in Section 6.02(b).
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Monthly Borrowing Base Delivery Event means, so long as no Weekly Borrowing Base Delivery Event has occurred and is continuing, the failure of Parent Borrower to maintain Availability at least equal to the greater of (x) $900,000,000 and (y) 60.0% of the Loan Cap. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing until Availability has exceeded the greater of (x) $900,000,000 and (y) 60.0% of the Loan Cap for thirty (30) consecutive calendar days, in which case a Monthly Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Monthly Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise. “Moody’s” means Xxxxx’x Investors Service, Inc. “Multiemployer Plan” means a “multiemployer plan” as defined in Section 4001(a)(3) of ERISA to which a Loan Party or any ERISA Affiliate is making or accruing an obligation to make contributions or has within any of the preceding five plan years made or accrued an obligation to make contributions. “Net Income” means, with respect to any Person, the net income (loss) of such Person and its Restricted Subsidiaries, determined in accordance with GAAP and before any reduction in respect of Preferred Stock dividends. “Net Proceeds” means (a) with respect to any Disposition by any Loan Party, or any extraordinary receipt received or paid to the account of any Loan Party, the excess, if any, of (i) the sum of cash and cash equivalents received in connection with such transaction (including any cash or cash equivalents received by way of deferred payment
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Monthly Borrowing Base Delivery Event means (a) an ABL Compliance Event has occurred and is continuing and (b) the Loan Parties have maintained Availability of between fifteen percent (15%) and eighty percent (80%) of the Loan Cap. For purposes of this Agreement, the occurrence of a Monthly Borrowing Base Delivery Event shall be deemed continuing at the Agent’s option, until (x) the ABL Compliance Event has been waived or is no longer continuing, or (y) if such ABL Compliance Event is continuing, Availability has been in excess of fifteen percent (15%) of the Loan Cap for ninety (90) consecutive Business Days. The continuation of a Monthly Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a Weekly Borrowing Base Delivery Event in the event that the conditions set forth in such definitions arise.
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Related to Monthly Borrowing Base Delivery Event

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure, for a period of at least three (3) consecutive Business Days, of the Borrowers to maintain Availability at least equal to the greater of (a) fifteen percent (15%) of the Loan Cap, or (b) $9,750,000.00. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) fifteen percent (15%) of the Loan Cap, or (y) $9,750,000.00 for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

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

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Borrowing Base Amount means, as of any date, an amount equal to the sum of:

  • 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.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Domestic 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.

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

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

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

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

  • 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:

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • 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.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Recovery Event any settlement of or payment in respect of any property or casualty insurance claim or any condemnation proceeding relating to any asset of any Group Member.

  • Discounted Voluntary Prepayment Notice has the meaning specified in Section 2.05(d)(v).

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

  • Incremental Auction Revenue Rights means the additional Auction Revenue Rights, not previously feasible, created by the addition of Incremental Rights-Eligible Required Transmission Enhancements, Merchant Transmission Facilities, or of one or more Customer- Funded Upgrades.

  • Applied Downgrade Advance has the meaning assigned to such term in Section 2.06(a).

  • Available Incremental Amount has the meaning specified in Section 2.14(4)(c).

  • Unapplied Downgrade Advance means any Downgrade Advance other than an Applied Downgrade Advance.