Borrowing Base Requirement definition

Borrowing Base Requirement is defined in Section 7.27.2(i).
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Borrowing Base Requirement shall have the meaning ascribed to such term in Section 2.1.1.
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Borrowing Base Requirement means, as of the date of a Borrowing Base Certificate, (i) the Available Borrowing Base exceeds the Outstanding Principal, (ii) the Cash-Sweep Concentration of each Cash-Sweep Fund Category does not exceed the Concentration Limit applicable thereto and (iii) the Inspected-Only Systems Borrowing Base does not exceed *** percent (***%) of the Cash-Sweep Adjusted Available Borrowing Base.
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Examples of Borrowing Base Requirement in a sentence

  • Borrowing Base Requirement.........................................

  • On the Closing Date, and for thirty (30) days thereafter or until Lender completes its initial audit, whichever is sooner (the "Initial Excess Availability Period"), Borrower shall have excess borrowing availability, as determined by Lender from review of outstanding Borrowings and the Borrowing Base Requirement in place at the Closing Date equal to not less than ten percent (10%) of outstanding Borrowings at the Closing Date, excluding the amount of the Equipment Draw.

  • On a weekly basis, as soon as practicable after, but not later than the second Business Day after, the end of each calendar week, or less frequently if approved by Lender from time to time, Borrower shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower.

  • The Company and each Designated Subsidiary Borrower shall at all times cause its respective Borrowing Base to equal or exceed the Borrowing Base Requirement attributable to such Borrower at such time.

  • On a weekly basis, or more frequently if required by Lender from time to time, Borrower shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower.

  • An amount equal to the lesser of (a) $90,000,000 (as such amount shall be reduced on a dollar-for-dollar basis for all prepayments of the Loans) and (b) the Borrowing Base Requirement.

  • All payments of principal of and accrued interest on the Special Advance shall be charged as Advances, as and when the same become due and payable, whether or not the Borrowing Base Requirement is violated as a result thereof, and Lender shall pay itself from the proceeds of such Advance.

  • On a weekly basis, or less frequently if approved by Lender from time to time, Borrower Agent shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower.

  • On a weekly basis, or more (or less) frequently if required (or approved) by Lender from time to time, Borrower shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower Agent.

  • Borrowing Base Requirement .................................................................


More Definitions of Borrowing Base Requirement

Borrowing Base Requirement means (A) as to any Borrower (other than the Bermuda Borrowers), except as set forth in clause (A)(ii), below, (i) an amount equal to the Letter of Credit Outstandings attributable to such Borrower or (ii) an amount equal to the product of (x) 102.5%, times (y) the Letter of Credit Outstandings attributable to such Borrower for the period which commences on the date 15 days after the Administrative Agent delivers a MAE Notice to the Company and the Designated Subsidiary Borrowers until such time as the Required Lenders have determined in their reasonable credit judgment that an MAE Event no longer exists (in which case, the Administrative Agent will promptly give notice of such determination to the Company), and, (B) as to the Bermuda Borrowers, except as set forth in clause (B)(ii), below, (i) an amount equal to the combined Letter of Credit Outstandings attributable to the Bermuda Borrowers or (ii) an amount equal to the product of (x) 102.5%, times (y) the combined Letter of Credit Outstandings attributable to the Bermuda Borrowers for the period which commences on the date 15 days after the Administrative Agent delivers a MAE Notice to the Company and the Designated Subsidiary Borrowers until such time as the Required Lenders have determined in their reasonable credit judgment that an MAE Event no longer exists (in which case, the Administrative Agent will promptly give notice of such determination to the Company).
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Borrowing Base Requirement means, as of the date of a Borrowing Base Certificate, the Available Borrowing Base equals or exceeds the Outstanding Principal.
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Related to Borrowing Base Requirement

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • 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 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 Amount means:

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

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

  • Applicable Reserve Requirement means, at any time, for any Eurodollar Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including, without limitation, any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors of the Federal Reserve System or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Adjusted Eurodollar Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Rate Loans. A Eurodollar Rate Loan shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The rate of interest on Eurodollar Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Collateral Requirement means the requirement that:

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

  • Debt Service Requirement means the sum of (i) interest expense (whether paid or accrued and including interest attributable to Capital Leases), (ii) scheduled principal payments on borrowed money, and (iii) capitalized lease expenditures, all determined without duplication and in accordance with GAAP.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • 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.

  • Eurodollar Reserve Requirement means, at any time, the maximum rate at which reserves (including, without limitation, any marginal, special, supplemental, or emergency reserves) are required to be maintained under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) by member banks of the Federal Reserve System against "Eurocurrency liabilities" (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Eurodollar Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the Eurodollar Rate is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Loans. The Eurodollar Rate shall be adjusted automatically on and as of the effective date of any change in the Eurodollar Reserve Requirement.

  • Reserve Requirement means, with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities.

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Minimum Capital Requirement means the Minimum Capital Requirement, the minimum group Solvency Capital Requirement or other minimum capital requirements (as applicable) referred to in the Relevant Rules;

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Minimum Balance Requirements You must maintain a minimum daily balance of $2,000.00 in your Money Market Savings account to obtain the disclosed annual percentage yield. We impose a monthly maintenance fee if the balance falls below $500 any day of the month. Basic Checking Account Rate Information: This account does not pay interest.

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

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.