Tranche A Borrowing Base definition

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

Tranche A Borrowing Base at any time, the amount equal to:

Tranche A Borrowing Base means the “Tranche A Borrowing Base” as defined in the ABL Credit Agreement.

Examples of Tranche A Borrowing Base in a sentence

• Aggregate Borrowing Base, Tranche A Borrowing Base and Tranche B Borrowing Base calculations shall be consistent with historical methods of valuation and calculation, and otherwise satisfactory to Agent (and not necessarily calculated in accordance with GAAP).

• The Company shall furnish to the Administrative Agent any information that the Administrative Agent may reasonably request regarding the determination and calculation of the Tranche A Borrowing Base or the Tranche B Borrowing Base including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all Account Debtors in respect of the Accounts referred to therein.

• For purposes of calculating the Tranche A Borrowing Base, the Tranche B Borrowing Base and the Aggregate Borrowing Base, such calculation of Inventory shall be on a “first-in, first-out” basis.

• Borrowing Base Certificate: a certificate, in form and substance reasonably satisfactory to Agent, by which Borrower certifies calculation of the Tranche A Borrowing Base, Tranche B Borrowing Base and Aggregate Borrowing Base.

• If the aggregate Tranche B Revolver Loans exceed at any time (A) the Aggregate Borrowing Base minus Tranche A Borrowing Base or (B) the Tranche B Maximum Amount, the excess amount, on a Pro Rata basis for each Tranche B Revolver Lender, shall be automatically converted into an outstanding principal amount of the Tranche A Revolver Loan, on a Pro Rata basis for each Tranche A Revolver Lender.

More Definitions of Tranche A Borrowing Base

Tranche A Borrowing Base means, as of any date of determination, the sum of:

Tranche A Borrowing Base means, at any time, an amount, equal to the lesser of (A) $575,000,000 and (B) the sum of (i) the amounts in the Principal Collection Subaccount, (ii) the product of (x) the Weighted Average Tranche A Advance Rate (excluding the portion of the Sale Settlement Pending Collateral allocable to Tranche A Collateral Loans from the calculation of the Weighted Average Tranche A Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Tranche A Net Collateral Balance as of such date (excluding the portion of the Sale Settlement Pending Collateral allocable to the Tranche A Collateral Loans from the calculation of the Aggregate Tranche A Net Collateral Balance) and (iii) the aggregate sale price (expressed in Dollars) of the portion of the Sale Settlement Pending Collateral allocable to Tranche A Collateral Loans.

Tranche A Borrowing Base means, on any date, an amount equal to the sum of the Adjusted Fair Market Value of all Eligible Investments.

Tranche A Borrowing Base and "Tranche B Borrowing Base" shall mean both such terms as defined herein and ---- --- such terms as defined in the Facility II Agreement), (ii) the Collateral Value of the Tranche D Borrowing Base attributable to Construction Loans of the type described in the second proviso to the definition of "Construction Loan" (or, if any such Construction Loan is nonconforming solely due to the sales price or construction cost of any single-family tract home to be constructed in connection therewith, the sales price or construction cost of such home), (iii) the Collateral Value of the Tranche E Borrowing Base attributable to Servicing Loans of the type described in the proviso to the definition of "Servicing Loan", and (iv) the Collateral Value of the Tranche F Borrowing Base attributable to Foreclosure/Repurchase Loans of the type described in the proviso to the definition of "Foreclosure/Repurchase Loan," (collectively, the "Non-conforming Collateral Amount") (it being understood that for the purposes of this Paragraph 11(l), the terms "Collateral Value of the Tranche D Borrowing Base," "Collateral Value of the Tranche E Borrowing Base," "Collateral Value of the Tranche F Borrowing Base," "Construction Loan," "Servicing Loan" and "Foreclosure/Repurchase Loan" shall have the meanings given such terms in the Facility II Agreement) exceeds $20,000,000, the Administrative Agent, after consultation with the Companies, shall make such adjustments to the Tranche A Borrowing Base and the Tranche B Borrowing Base, and shall remove Collateral from the computation of some or all of such Borrowing Bases, as may be necessary to cause the Non- Conforming Collateral Amount to be less than or equal to $20,000,000.

Tranche A Borrowing Base and "Tranche B Borrowing Base" shall mean both such terms as defined herein and ---- --- such terms as defined in the Facility I Agreement), (C) the Collateral Value of the Tranche F Borrowing Base attributable to Foreclosure/Repurchase Loans of the type described in the proviso to the definition of "Foreclosure/Repurchase Loan", and (D) the Collateral Value of the Tranche D Borrowing Base attributable to Construction Loans of the type described in the second proviso to the definition of "Construction Loan" (or, if any such Construction Loan is nonconforming solely due to the sales price or construction cost of any single- family tract home to be constructed in connection therewith, the sales price or construction cost of such home), does not exceed $20,000,000, and (ii) the Collateral Value of the Tranche E Borrowing Base attributable to such a loan, when added to the Collateral Value of the Tranche E Borrowing Base attributable to all other such loans, does not exceed twenty percent (20%) of the Aggregate Tranche E Credit Limit.

Tranche A Borrowing Base means at any date all Eligible A/B Mortgage ------------------------ Loans purchased by CWM or Indy Mac pursuant to the programs and procedures described in the Indy Mac Seller-Servicer Guide which have not been included as --- Collateral in excess of one hundred twenty (120) days and which have been delivered to and held by the Collateral Agent or otherwise identified as "A/B Collateral" under the Security Agreement as collateral security for the Obligations, together with all Warehousing Loans which have been delivered to and held by the Collateral Agent under the Security Agreement as collateral security for the Obligations.

Tranche A Borrowing Base means, as of any date of determination by Agents, from time to time, an amount equal to the sum at such time of: