Examples of Term Loan Borrowing Base in a sentence
Subject to the terms and conditions set forth herein and satisfaction of all obligations of the Borrower in the Loan Documents, Bank agrees to lend Borrower on a term basis beginning on the date hereof and continuing for a term of five (5) years, in a single advance the lesser of (i) $336,000.00 or (ii) the Term Loan Borrowing Base.
All of the proceeds of the Acquisition Term ---------------------- Loans shall be applied to make the applicable Permitted Acquisition and the Agent shall have received a Non-Distribution Term Loan Borrowing Base Certificate and an appraisal (in form and substance satisfactory to the Agent and conducted by an appraiser satisfactory to the Agent) of any Eligible Equipment to be acquired in connection with the Permitted Acquisition and which is to be included in the Non-Distribution Term Loan Borrowing Base.
The aggregate maximum principal amount of all Acquisition Term Loans shall not exceed the lesser of (A) $15,000,000 (less the principal amount of Capex ---- Term Loans) and (B) the Non-Distribution Term Loan Borrowing Base (less the ---- principal amount of Capex Term Loans made).
The request by the Lead Borrower for, and the acceptance by the Borrowers of, each extension of credit hereunder shall be deemed to be a representation and warranty by the Borrowers that the conditions specified in this Section 4.02 have been satisfied at that time and that after giving effect to such extension of credit the Borrowers shall continue to be in compliance with the Borrowing Base and the Term Loan Borrowing Base.
Furthermore, the ABL Agent agrees that, it shall establish and maintain the Term Loan Borrowing Base Reserve as such Reserve is calculated by the Term Agent.