Borrowing Base Deficiency definition

Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

Borrowing Base Deficiency has the meaning described in Section 2.1.3 (Borrowing Base).

Borrowing Base Deficiency occurs if at any time the total Revolving Credit Exposures exceeds the Borrowing Base then in effect.

Examples of Borrowing Base Deficiency in a sentence

• Any such sale shall occur no later than May 31, 2022 and shall not result in a Borrowing Base Deficiency, Event of Default, or cause the portfolio concentration limits to be breached.

• The Borrower shall not make or permit to be made any Restricted Junior Payment, except that, at all times prior to the Final Maturity Date and so long as no Borrowing Base Deficiency, Event of Default or Unmatured Event of Default has occurred or would result therefrom, the Borrower may declare and make Restricted Junior Payments that comply with the terms of its Operating Agreement and Applicable Law.

• Each Loan Asset designated on any Quarterly Servicing Report as an Eligible Loan Asset and each Loan Asset included as an Eligible Loan Asset in any calculation of Borrowing Base or Borrowing Base Deficiency in any Quarterly Servicing Report is an Eligible Loan Asset as of the date of such report or calculation.

• After giving effect to any contemplated Borrowing, no Borrowing Base Deficiency with respect to the applicable Fund Group shall exist.

• Borrower shall prepay the Aggregate Outstanding Advances within two (2) Business Days after the earlier of the date (i) that an Authorized Officer becomes aware that a Borrowing Base Deficiency exists and (ii) on which Xxxxxxxx receives written notice from Lender that a Borrowing Base Deficiency exists, in each case in an amount equal to such Borrowing Base Deficiency, which shall be applied to repay the Aggregate Outstanding Advances.

More Definitions of Borrowing Base Deficiency

Borrowing Base Deficiency means the amount by which the aggregate outstanding amount of the Advances plus the Letter of Credit Exposure exceeds the lesser of (x) the Borrowing Base and (y) the aggregate Commitments.

Borrowing Base Deficiency means, as of any date, the amount, if any, by which the Outstanding Credit on such date exceeds the Borrowing Base in effect on such date; provided, that, for purposes of determining the existence and amount of any Borrowing Base Deficiency, Letter of Credit Exposure will not be deemed to be outstanding to the extent it is secured by cash in the manner contemplated by Section 2.1(b).

Borrowing Base Deficiency means, as of any date of determination, the extent to which the aggregate Advances Outstanding on such date exceeds the Borrowing Base.

Borrowing Base Deficiency occurs if, at any time, the aggregate Total Exposures of all Lenders exceeds the Borrowing Base then in effect. The amount of the Borrowing Base Deficiency is the amount by which Total Exposures of all Lenders exceeds the Borrowing Base then in effect.

Borrowing Base Deficiency shall have the meaning provided in Section 2.06 hereof.

Borrowing Base Deficiency shall have the meaning provided in Section ------------------------- 2.06 hereof.

Borrowing Base Deficiency means, as of any date, the amount, if any, by which the Aggregate Credit Exposure on such date exceeds the Borrowing Base in effect on such date; provided, that, for purposes of determining the existence and amount of any Borrowing Base Deficiency, obligations under any Letter of Credit will not be deemed to be outstanding to the extent such obligations are secured by cash in the manner contemplated by Section 2.06(j).