Non-Borrowing Base Property definition

Non-Borrowing Base Property means each Real Property owned or leased directly and indirectly by a subsidiary of the Borrower that does not constitute a Borrowing Base Property.
Non-Borrowing Base Property means a Property owned in fee simple by a Borrower that is not accepted as a Borrowing Base Property by the Administrative Agent in its sole and absolute discretion.”

Examples of Non-Borrowing Base Property in a sentence

  • Each of the Borrowing Base Entities and the Non-Borrowing Base Property Owners has fee simple title to, or leasehold interests in, all its Real Property and personal property material to its business, subject only to Permitted Encumbrances, Liens securing Indebtedness to the extent not prohibited hereunder, and other defects in title that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

  • Any payments made by Borrower, Guarantor or any Subsidiary that is not a Non-Borrowing Base Subsidiary to reduce the principal amount of any Indebtedness owed by any Non-Borrowing Base Property Subsidiary shall reduce the Capex/Investments Basket or Alternative Capex/Investments Basket, as applicable.”.

  • Any Change of Control shall occur (other than with respect to Foreign Non-Borrowing Base Property Subsidiaries).

Related to Non-Borrowing Base Property

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • 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.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

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

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

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

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

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

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

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

  • Tranche A 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.

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

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

  • Mortgaged Real Property means any parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Unencumbered Property means any one of the Unencumbered Properties.

  • Collateral Pool means the aggregate total of the Collateral.

  • Hotel Property means a Property on which there is located an operating hotel.

  • 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.

  • Unimproved Land means land on which no development (other than improvements that are not material and are temporary in nature) has occurred.

  • 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.

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

  • Collateral Loan means a loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • Loan Property means any property in which the applicable party (or a subsidiary of it) holds a security interest and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • newly rateable property means any rateable property on which property rates were not levied before the end of the financial year preceding the date on which this Act took effect, excluding –