Examples of ABL Borrowing Base in a sentence
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.
In all cases, the ABL Borrowing Base shall be calculated based upon the most recent Borrowing Base Certificate received by the ABL Agent pursuant to the ABL Credit Agreement prior to funding of loans or advances by any ABL Credit Party or the issuance, renewal or amendment of a letter of credit by an ABL Lender.
ABL Borrowing Base Certificates: collectively, the US Borrowing Base Certificates and the UK Borrowing Base Certificates, as each such term is defined in the ABL Revolver Loan Agreement in effect on the date hereof.