Examples of Term Borrowing Base in a sentence
By the Reporting Due Date, Borrowers shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Term Borrowing Base Certificate prepared as of the close of business of the previous week or month, as applicable, and at such other times as Agent may request.
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.
Availability for each Borrower will be limited to its separate Term Borrowing Base.
The Borrower shall be obligated to make a principal repayment of the Total Intermediate Term Loan on each Business Day in an amount equal to the Intermediate Term Borrowing Base Deficit on such Business Day, together with accrued interest on such principal amount repaid through the date of payment.
Commencing with the first full Fiscal Quarter after the Closing Date, the Borrower shall not permit the aggregate outstanding amount of the Term Loans to exceed the applicable Term Borrowing Base as of the end of each Fiscal Quarter.
Anything contained in this Agreement to the contrary notwithstanding, in no event shall the aggregate amount of Term Loans made on the Closing Date exceed the Term Borrowing Base in effect on the Closing Date.
By the Reporting Trigger Date, Borrowers shall deliver to Agent (and Agent shall promptly deliver same to Lenders) a Term Borrowing Base Certificate prepared as of the close of business of the previous week or month, as applicable, and at such other times as Agent may reasonably request in its Permitted Discretion.
Term Borrowing Base Certificate: a certificate, in form and substance satisfactory to Agent, by which Borrowers certify the US Borrowing Base and the UK Borrowing Base.
If at any time the sum of the aggregate principal amount of outstanding Term Loans shall exceed the lesser of (A) the aggregate Term Committed Amount, (B) the Term Borrowing Base, in each case, then in effect, the Borrower immediately shall prepay the Term Loans in an amount sufficient to eliminate such excess.
The Administrative Agent shall have received (i) a Borrowing Base Certificate, and (ii) a Term Borrowing Base Certificate, each dated as of the Fifth Amendment Effective Date, relating to the week ended on August 26, 2023 and in form and substance satisfactory to the Administrative Agent.