Definition of PP&E Component


PP&E Component means the aggregate amount of the Canadian Borrowing Base, the Dutch Borrowing Base, the German Borrowing Base and the U.K. Borrowing Base that is attributable to Eligible Machinery and Equipment and Eligible Real Property; provided, however, that the PP&E Component of the Global Borrowing Base shall not constitute more than the lesser of (x) 20.0% of the Total Revolving Facility Commitments and (y) 20.0% of the Global Borrowing Base (calculated prior to giving effect to such limitation).

Examples of PP&E Component in a sentence

Notwithstanding the foregoing sentence, until the earlier of (x) such time as appraisals satisfactory to the Administrative Agent are completed pursuant to Section 5.6 and (y) May 28, 2009, or such later date as the Administrative Agent may approve in its exclusive discretion, the U.S. PP&E Component shall be US$150,000,000 minus the Canadian PP&E Component.
Notwithstanding the foregoing sentence, until the earlier of (x) such time as appraisals satisfactory to the Administrative Agent are completed pursuant to Section 5.6 and (y) May 28, 2009, or such later date as the Administrative Agent may approve in its exclusive discretion, the Canadian PP&E Component shall be US$15,000,000 or such lesser amount as may be specified by the Canadian Borrower on the Canadian Borrowers most recent Borrowing Base Certificate.
None of the Equipment that constitutes a portion of the PP&E Component is covered by any certificate of title, except for the vehicles described in Exhibit E.
Each Grantor will give the Administrative Agent notice of its acquisition of any vehicle covered by a certificate of title that constitutes a portion of the PP&E Component and deliver to the Administrative Agent, upon request, the original of the vehicle title certificate with respect to any such vehicle and provide and/or file all other documents or instruments necessary to have the Lien of the Administrative Agent noted on any such certificate or with the appropriate state office.
Each Grantor shall promptly inform the Administrative Agent of any additions to or deletions from the Equipment that constitutes a portion of the PP&E Component which individually exceed $250,000.