Definition of Term Borrowing Base Deficiency

  1. Term Borrowing Base Deficiency means, at any time, the excess, if any, of (i) the Outstanding Term Loan Amount over (ii) the lesser of (a) the Facility Limit (Term Loans) on such date and (b) the Borrowing Base (Term Loans) on such date.

Examples of Term Borrowing Base Deficiency in a sentence

  1. Nothing herein shall be deemed to be a restriction against entering into a Securitization Transaction or other structured finance transaction which would result in a Modified Term Borrowing Base Deficiency provided that no Term Borrowing Base Deficiency would result from

Definition of Term Borrowing Base Deficiency in Loan and Servicing Agreement

Term Borrowing Base Deficiency means, at any time, the excess, if any, of (i) the Outstanding Term Loan Amount over (ii) the lesser of (a) the Facility Limit (Term Loans) on such date and (b) the Borrowing Base (Term Loans) on such date.