Borrowing Base DSCR definition

Borrowing Base DSCR means, as of any date of calculation, the ratio of (i) Adjusted NOI for the Borrowing Base Properties divided by (ii) Borrowing Base Debt Service as of such date.
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Borrowing Base DSCR means, on any date of determination, the ratio of (a) Borrowing Base Adjusted NOI for the Reference Period most recently ended (and including, on a pro forma basis, the projected Adjusted NOI for any Real Estate Asset being acquired with the proceeds of a requested Loan, as approved by the Administrative Agent), divided by (b) the Implied Debt Service based on the aggregate outstanding principal amount of Bridge Loans on the date of determination (after giving effect to any requested Loans or other Credit Event), on an annualized basis.
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Examples of Borrowing Base DSCR in a sentence

  • The aggregate Revolving Credit Exposure at any time to exceed Borrowing Base Availability (with compliance certified as of the last day of each fiscal quarter (and, with respect to Borrowing Base DSCR, for the Reference Period then ended) in a Borrowing Base Certificate delivered pursuant to Section 5.1, Section 5.2, Section 9.4, or as otherwise may be required by this Agreement).

Related to Borrowing Base DSCR

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

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

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

  • 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.

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Accelerated Borrowing Base Delivery Event means either (a) that a Default or Event of Default has occurred and is continuing, or (b) Undrawn Availability at any time is less than or equal to the greater of (i) seventeen and one-half percent (17.5%) of the Revolving Loan Cap, and (ii) the sum of $4,375,000 plus seventeen and one-half percent (17.5%) of any increase to the Maximum Revolving Advance Amount pursuant to Section 2.24. For purposes hereof, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Default or Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises pursuant to clause (a) in the immediately preceding sentence, until the passage of sixty (60) consecutive days during which Undrawn Availability has exceeded the requisite amount at all times during such period, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing for purposes hereof; provided that an Accelerated Borrowing Base Delivery Event shall be deemed continuing (even if no Default or Event of Default is continuing any longer and/or Undrawn Availability exceeds the requisite amount for sixty (60) consecutive days) at all times after an Accelerated Borrowing Base Delivery Event has occurred and been discontinued on two (2) occasions in any Fiscal Year or five (5) occasions after the Closing Date. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.