Definition of Term Borrowing Base

  1. Term Borrowing Base means, at any time of calculation, an amount equal to the lesser of:

Examples of Term Borrowing Base in a sentence

  1. Subject to the terms of this Section 3.9, the ABL Agent shall impose and maintain the Term Loan Reserve as an Availability Reserve (as defined in the ABL Loan Agreement) against the ABL Borrowing Base at all times when the aggregate outstanding principal balance of the Term Loans (as defined in the Term Loan Agreement) exceeds the Term Borrowing Base.
  2. Borrowing Base Certificate: collectively, the ABL Borrowing Base Certificates and the Term Borrowing Base Certificates.

Definition of Term Borrowing Base in Amended and Restated Loan and Security Agreement

Term Borrowing Base means, at any time of calculation, an amount equal to the lesser of: