Term Borrowing Base Deficiency definition

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.
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Examples of Term Borrowing Base Deficiency in a sentence

  • 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 - 38 - such transaction and on completion of such transaction, any Residual Interests resulting therefrom which are Available Collateral shall be pledged hereunder.

Related to Term Borrowing Base Deficiency

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

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

  • 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.

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

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure, for a period of at least three (3) consecutive Business Days, of the Borrowers to maintain Availability at least equal to the greater of (a) fifteen percent (15%) of the Loan Cap, or (b) $9,750,000.00. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) fifteen percent (15%) of the Loan Cap, or (y) $9,750,000.00 for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes of this Agreement. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

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

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

  • Advance Deficiency As defined in Section 4.01(b).

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

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Canadian Borrowing Base means, at any time, an amount in Dollars 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.

  • Term Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term Lenders pursuant to Section 2.01(a).

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

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

  • 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.

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

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

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

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

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

  • 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.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Term A Lenders pursuant to Section 2.01(a).