Term Facility Borrowing Base definition

Term Facility Borrowing Base means the “Borrowing Base” (as defined in the Term Loan Agreement and as reflected on the Borrowing Base Certificates delivered by the Borrowers’ Representative to the Administrative Agent from time to time as required in this Agreement; provided that if the Borrower’s Representative shall fail to deliver such Borrowing Base Certificate when required hereunder, the Term Agent may deliver the most recent Borrowing Base Certificate it has received from the Borrowers under the Term Loan Agreement or, in good faith, calculate the Term Facility Borrowing Base and certify to the Administrative Agent in writing of its determination of the Term Loan Reserve, if any. The Administrative Agent shall be entitled to conclusively rely on any such Borrowing Base Certificate delivered by the Term Agent or certification by the Term Agent and establish a Term Loan Reserve in the amount so certified, without further inquiry and without any independent investigation, and shall have no liability to any of the Loan Parties with respect thereto).
Term Facility Borrowing Base means (i) with respect to any Borrower other than Diamond, an amount equal to seventy five percent (75.0%) of the forced sale liquidation value of Equipment owned by such Borrower and (ii) with respect to Diamond, an amount equal to the sum of seventy five percent (75.0%) of the forced sale liquidation value of Equipment owned by Diamond plus seventy five percent of the fair market value of the Real Property Collatera1. The forced sale liquidation value of Equipment and the fair market value of the Real Property Collateral, for purposes of determining the Term Facility Borrowing Base, shall be as determined by Lender from time to time in its discretion.
Term Facility Borrowing Base means the “Borrowing Base” as defined in the Term Loan Credit Agreement.

Examples of Term Facility Borrowing Base in a sentence

  • At all times while any Term Loan Obligations or any Refinancing Indebtedness related thereto and secured by a Lien on Term Priority Collateral are outstanding, permit Availability to be less than the greater of (i) 15.0% of the sum of (x) the Maximum Borrowing Amount (calculated without giving effect to the Term Loan Push Down Reserve) plus (y) the Term Facility Borrowing Base, and (ii) 11,000,000 at any time.

  • If at any time, from time to time, the unpaid principal amount outstanding and owing by a Borrower under the Term Facility exceeds the Term Facility Borrowing Base applicable to such Borrower then, within thirty (30) days following written request or demand by Lender, such Borrower shall make an immediate payment of principal in reduction of its loan under the Term Facility in an amount not less than the amount necessary to eliminate such excess as of the time of such payment.

Related to Term Facility Borrowing Base

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

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

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

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

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

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

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

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • 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.

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

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • 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.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).

  • 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.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

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

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

  • Eurodollar Revolving Borrowing means a Borrowing comprised of Eurodollar Revolving Loans.

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

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • Incremental Revolving Credit Loans shall have the meaning provided in Section 2.14(b).

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).