Dutch Borrowing Base definition

Dutch Borrowing Base means, with respect to the Dutch Loan Parties at any time, subject to the Eligibility Adjustment Principles and Borrowing Base Acquisition Adjustment Principles, the amount (expressed as a U.S. Dollar Equivalent amount) equal to:

Dutch Borrowing Base means, at any time, with respect to the Dutch Loan Parties, the sum of:

Dutch Borrowing Base means, at the time of any determination, an amount equal to the sum of the Dollar Equivalent, without duplication, of

Examples of Dutch Borrowing Base in a sentence

• On any date of determination of the Dutch Borrowing Base, all of the Accounts owned by the Dutch Borrowers and reflected in the most recent Borrowing Base Certificate delivered by the Dutch Borrowers to the Administrative Agent shall be “Dutch Eligible Accounts” for the purposes of this Agreement, except any Account to which any of the exclusionary criteria set forth below applies.

• On any date of determination of the Dutch Borrowing Base, all of the Inventory owned by the Dutch Borrowers and reflected in the most recent Borrowing Base Certificate delivered by the Borrowers to the Administrative Agent shall be “Dutch Eligible Inventory” for the purposes of this Agreement, except any Inventory to which any of the exclusionary criteria set forth below applies.

• Agent may require Dutch Lenders to fund Dutch Revolver Loans that cause or constitute a Dutch Overadvance and to forbear from requiring Dutch Borrowers to cure a Dutch Overadvance, as long as the total Dutch Overadvance does not exceed 10% of the Dutch Borrowing Base and does not continue for more than 30 consecutive days without the consent of Required Lenders.

• All references in the Loan Documents to Revolver Loans, Letters of Credit, Obligations, Dutch Borrowing Base, U.S. Borrowing Base components and other amounts shall be denominated in Dollars, unless expressly provided otherwise.

• If any Asset Disposition includes the disposition of Accounts or Inventory, the applicable Borrowers shall apply Net Proceeds to repay their Revolver Loans equal to the greater of (a) the net book value of such Accounts and Inventory, or (b) the reduction in the applicable Dutch Borrowing Base or U.S. Borrowing Base resulting from the disposition.

More Definitions of Dutch Borrowing Base

Dutch Borrowing Base means at any time, subject to adjustment as provided in Section 2.21, an amount equal to the sum (expressed in dollars, based on the Dollar Equivalent thereof) of, without duplication, the lesser of:

Dutch Borrowing Base means, as of any date of calculation, the amount calculated pursuant to the Borrowing Base Certificate most recently delivered to the Administrative Agent in accordance with Section 9.01(h) equal to, without duplication:

Dutch Borrowing Base at any time, with respect to the Applicable Dutch Borrower, an amount equal to the sum (expressed in Dollars, based on the Dollar Equivalent thereof) of, without duplication:

Dutch Borrowing Base means, at any time, the Dollar Equivalent of the result of, subject to the terms of Section 1.10:

Dutch Borrowing Base has the meaning described in Section 2.3.3 (Dutch Borrowing Base).

Dutch Borrowing Base means at any time, an amount equal to sixty percent (60%) of Eligible Dutch Receivables (other than Insured Eligible Dutch Receivables), plus seventy percent (70%) of Insured Eligible Dutch Receivables, plus seventy percent (70%) of Insured Eligible U.K. Receivables, plus seventy percent (70%) of Insured Eligible Spanish Receivables, plus any Unused Availability, less (a) the Interest Rate/Currency Protection Reserve for the Dutch Borrower, less (b) the amount of any U.S. Borrowing Base Deficiency which has not been paid, less (c) the amount of any reserve which the Lender in its reasonable and good faith discretion deems appropriate to cover any potential Dutch Borrowing Base Deficiency which the Lender determines, in its reasonable and good faith discretion based upon information previously provided by the Borrowers or obtained from the Lender's auditors, may have occurred since the most recent Dutch Borrowing Base Report was provided by the Dutch Borrower. The Dutch Borrowing Base shall be computed based on the Dutch Borrowing Base Report most recently delivered to the Lender. In the event the Dutch Borrower fails to furnish a Dutch Borrowing Base Report required by Section 2.3.4 (Dutch Borrowing Base Report), or in the event the Lender reasonably determines that a Dutch Borrowing Base Report is no longer accurate in any material respect, the Lender may, in its sole and absolute discretion exercised from time to time and without limiting other rights and remedies under this Agreement, suspend the making of or limit Dutch Revolving Loan Advances. The Dutch Borrowing Base shall be subject to reduction by the amount of any Receivable which was included in the Dutch Borrowing Base but which the Lender reasonably determines fails to meet the respective criteria applicable from time to time for Eligible Dutch Receivables. If at any time the total of the aggregate principal amount of the Dutch Revolving Loan and the Outstanding Letter of Credit Obligations of the Dutch Borrower exceeds an amount equal to the Dutch Borrowing Base, a borrowing base deficiency ("Dutch Borrowing Base Deficiency") shall exist. Each time a Dutch Borrowing Base Deficiency exists, the Dutch Borrower shall provide a current Dutch Borrowing Base Report demonstrating that a Dutch Borrower Base Deficiency does not exist any longer, or at the sole and absolute discretion of the Lender exercised from time to time shall pay the Dutch Borrowing Base Deficiency ON DEMAND to the Lender from tim...

Dutch Borrowing Base means, as of any date of calculation, the amount equal to, without duplication, the sum of (a) 85% of Eligible Dutch Accounts, plus (b) the lesser of (i) 65% of the respective Value of each category of Eligible Dutch Inventory (i.e., raw materials, work in process and finished goods) and (ii) 85% of the then extant Net Orderly Liquidation Value of each such category of Eligible Dutch Inventory (i.e., raw materials, work in process and finished goods) minus (c) the sum (without duplication) of (i) the Dutch Qualified Secured Hedging Agreement Reserve, (ii) the Dutch Qualified Secured Cash Management Agreement Reserve and (iii) the Reserves then established by the Co-Collateral Agents with respect to the Dutch Borrowing Base. The Co-Collateral Agents shall have the right (but no obligation) to review such computations and if, in their Permitted Discretion, such computations have not been calculated in accordance with the terms of this Agreement, the Co-Collateral Agents shall have the right to correct any such errors in such manner they shall determine in their Permitted Discretion and the Collateral Agent will notify Holdings promptly after making any such correction.