Required Borrowing Base Lenders definition

Required Borrowing Base Lenders means, at any time, Lenders having in the aggregate Revolving Exposures and unused Revolving Credit Commitments representing more than 66.66% of the sum of the total Revolving Exposures and unused Revolving Credit Commitments at such time.
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Required Borrowing Base Lenders means, as of any date of determination, Non-Defaulting Lenders whose Voting Percentages aggregate to 66-2/3% or more.
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Required Borrowing Base Lenders means Lenders having at least 85% of the unpaid principal amounts outstanding under the Loans or, if no such principal amounts are then outstanding, Lenders having at least 85% of the total Commitments.
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Examples of Required Borrowing Base Lenders in a sentence

  • Such recommended Borrowing Base shall become effective upon the receipt by the Administrative Agent of the approval of the Required Borrowing Base Lenders.

  • The Administrative Agent shall have fifteen (15) days following receipt of such requested information to make an initial redetermination of the Borrowing Base, and the Administrative Agent and the Required Borrowing Base Lenders shall approve and designate the new Borrowing Base in accordance with the procedures and standards described in Section 2.8.3.

  • The Administrative Agent shall have fifteen (15) days following receipt of such requested information to make an initial redetermination of the Borrowing Base, and the Administrative Agent and the Required Borrowing Base Lenders shall approve and designate the new Borrowing Base in accordance with the procedures and standards described in Section 2.8.2.

  • This Amendment shall become effective as of the date hereof when the Administrative Agent shall have received counterparts hereof duly executed by the Borrower, the Administrative Agent and each of the Required Borrowing Base Lenders or Required Lenders (or, in the case of any party as to which an executed counterpart shall not have been received, telegraphic, telex, or other written confirmation from such party of execution of a counterpart hereof by such party), as applicable.

  • The Required Borrowing Base Lenders shall have approved the Borrowing Base of $2,000,000,000 with respect to the Reserve Report as of December 31, 2015 in accordance with Section 2.9(c) of the Credit Agreement.

  • The Council Business Plan has been revised following a review of the context in which the Council is operating, the Council’s delivery of its priorities in 2014/15 and the challenges facing Ryedale in the next 5 years.

  • The effectiveness of this Amendment shall be subject to the prior or concurrent satisfaction, on or before March 31, 2005, of the conditions precedent that the Administrative Agent shall have received counterparts of this Amendment, duly executed by each of the Borrower, the Administrative Agent and the Required Borrowing Base Lenders.

  • Subject to Section 2.13(e), the Required Borrowing Base Lenders shall, within thirty (30) days following delivery of such notice, agree on a new Borrowing Base.

  • The Borrower, the Guarantors and the Administrative Agent shall have executed and delivered this Amendment, and the Administrative Agent shall have received consents, in the form attached hereto as Exhibit A (each, a “Consent”), executed and delivered by (i) in the case of the effectiveness of Section 1 hereof, the Required Lenders and (ii) in the case of the effectiveness of Section 2 hereof, the Required Borrowing Base Lenders.

  • The Administrative Agent shall by notice to the Borrower and the Lenders designate the amount of the Borrowing Base (determined by the Required Borrowing Base Lenders or all of the Lenders, as applicable, in accordance with the foregoing procedures) available to the Borrower hereunder, which designation shall take effect immediately on the date such notice is sent and shall remain in effect until but not including the next date as of which the Borrowing Base is redetermined.


More Definitions of Required Borrowing Base Lenders

Required Borrowing Base Lenders means (i) with respect to any action in connection with increasing the Borrowing Base, the Lenders holding at least 75% of the then aggregate outstanding principal amount of the Notes then held by the Lenders, or, if no such principal amount is then outstanding, the Administrative Agent and Lenders responsible for at least 75% of the then current Commitment Amount and (ii) with respect to any action in connection with decreasing the Borrowing Base, the Lenders holding at least 66 2/3% of the then aggregate outstanding principal amount of the Notes then held by the Lenders, or, if no such principal amount is then outstanding, the Administrative Agent and Lenders responsible for at least 66 2/3 of the then current Commitment Amount.
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Required Borrowing Base Lenders or “Restricted Subsidiary”, other than as permitted under Section 2.8, eliminate the Borrowing Base, increase the Commitment Amount or the Percentage of any Lender, change the definition of “Prime Rate” or “LIBOR” to reduce interest or the Applicable Margin payable by the Borrower, reduce any fees described in Article III, release any Subsidiary Guaranty required by Section 7.9 unless Section 7.9 no longer requires such Subsidiary Guaranty, or extend any Commitment Termination Date, without the consent of each Lender;
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Required Borrowing Base Lenders or "Restricted Subsidiary", eliminate the Borrowing Base, increase the Commitment Amount or the Percentage of any Lender, change the definition of "Prime Rate" or "LIBOR" to reduce interest or the Applicable Margin payable by the Borrower, reduce any fees described in Article III, release all or substantially all of the Collateral other than pursuant to the terms of the Pledge Agreement, or extend any Commitment Termination Date, without the consent of each Lender;
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Required Borrowing Base Lenders. Security Documents", "Senior Debt Capacity", "Tranche A" and "Tranche B" in appropriate alphabetical order:
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Required Borrowing Base Lenders means, as of any date of determination, Lenders (that are not at such time Defaulting Lenders) holding not less than 66-2/3% of the Total Exposure Amount of all Lenders (that are not at such time Defaulting Lenders).
Sample 1
Required Borrowing Base Lenders means, at any time, Lenders (that are not at such time Defaulting Lenders) holding not less than 67% of the Total Exposure Amount of all Lenders (that are not at such time Defaulting Lenders); provided that notwithstanding the foregoing, the determination for the initial Borrowing Base pursuant to Section 2.8.1 and for any redetermination of the Borrowing Base thereafter resulting in an increase of the Borrowing Base from the Borrowing Base in effect immediately prior to such redetermination of the Borrowing Base, the Required Borrowing Base Lenders means all of the Lenders.
Sample 1

Related to Required Borrowing Base Lenders

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

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

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

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

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

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

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

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

  • Required Revolving Credit Lenders means, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

  • Requisite Revolving Lenders means Lenders having (a) more than 50% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Revolving Loan.

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

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

  • Majority Revolving Credit Facility Lenders the Majority Facility Lenders in respect of the Revolving Credit Facility.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • 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.

  • Term Loan Administrative Agent means Bank of America, in its capacity as administrative agent under the Term Loan Credit Agreement, and its successors and assigns in such capacity.

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

  • Reference Lenders means the Agent unless the Agent resigns said responsibility, at which time and thereafter such term means one or two Lenders selected by the Agent in its discretion from time to time as a reference lender for purposes of determining the Adjusted Libor Rate.

  • Required Facility Lenders means, with respect to any Facility on any date of determination, Lenders having more than 50% of the sum of (i) the outstanding Loans under such Facility and (ii) the aggregate unused Commitments under such Facility; provided that, to the same extent set forth in Section 10.07(h) with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Tranche B Lenders means First Union National Bank and shall include the several banks and other financial institutions from time to time party to the Credit Agreement that commit to make the Tranche B Loans.

  • Requisite Lenders means Lenders having (a) more than 50% of the Commitments of all Lenders, or (b) if the Commitments have been terminated, more than 50% of the aggregate outstanding amount of the Loans.

  • Majority Revolving Credit Lenders means Revolving Credit --------------------------------- Lenders having at least 51% of the aggregate amount of the Revolving Credit Commitments or, if the Revolving Credit Commitments shall have terminated, Lenders holding at least 51% of the sum of (a) the aggregate unpaid principal amount of the Revolving Credit Loans plus (b) the aggregate amount of all Letter of Credit Liabilities.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.