Real Property Borrowing Base definition

Real Property Borrowing Base means (i) $0.00 prior to the date that the Borrower shall have complied fully with Section 4.3 of this Agreement, and (ii) after the date that the Borrower shall have complied fully with Section 4.3 of this Agreement, the lesser of (a) $10,000,000 and (b) 75% of the result of (1) the appraised value of the real property covered by the Mortgage minus (2) the AAL Loan.
Sample 1
Real Property Borrowing Base means, as of any date of determination, an amount equal to (a) 60% of the Appraised Value of the Real Property Collateral minus (b) without duplication, the aggregate of such Reserves applicable to the Real Property Collateral as may have been established by the Agent.
Sample 1

Related to Real Property Borrowing Base

  • 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.

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

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

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

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

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

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

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

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

  • 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:

  • 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.

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

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

  • 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 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.

  • 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.

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

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans of the same Class.

  • 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.

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

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

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

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

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Real Property Security Documents means with respect to the fee interest of any Loan Party in any real property: