Facility B Borrowing Base definition

Facility B Borrowing Base means, as of any date of determination thereof by the Agent from time to time, an amount, without duplication, equal to the aggregate at such time of:
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Facility B Borrowing Base means, at the time of a Borrowing Base Determination, an amount equal to the sum of (a) 80% of the aggregate amount of all Eligible Accounts Receivable after contra and cross netting such Eligible Accounts Receivable against accounts payable and Inventory due to account debtors in respect of exchanges, advances, or otherwise and further reducing the result of such computation by the aggregate amount of the Borrowing Base, if any, attributable to any Accounts Receivable which (i) have been collected, charged-off, or otherwise compromised since the date of the most recent previous Borrowing Base Determination, (ii) may have declined materially in value because of a material Adverse Effect or other event, or (iii) for any reason are not subject to a valid and perfected first priority Lien in favor of the Lender, (b) the lesser of (i) $1,000,000 or (ii) 50% of the aggregate value (being, as to each item of Eligible Inventory, the lower of cost or market value as of the relevant date) of Eligible Inventory and (c) the Acetx Xxxduct Line Value.
Sample 1
Facility B Borrowing Base means (a) 80% of Eligible A/R of Southern Flow, plus (b) 20% of Eligible Inventory of Southern Flow, all as calculated on the most recent monthly Borrowing Base Report.
Sample 1

Examples of Facility B Borrowing Base in a sentence

  • The Facility B Borrowing Base will be comprised of Borrower’s proved developed shut-in properties.

  • SunOpta Foods may borrow, repay and reborrow or otherwise obtain Advances under Facility B up to the lesser of the Facility B Borrowing Base and a maximum principal amount of US$165,000,000 (the “Facility B Credit Limit”).

  • The form of Facility B Borrowing Base Certificate attached as Exhibit A-2 to the Loan Agreement is hereby amended and restated in its entirety and replaced by the form of Facility B Borrowing Base Certificate attached hereto as Exhibit A.

  • The Borrower and the Guarantor acknowledge and understand that notwithstanding the stated principal amount of each Note, that each Lender's obligation to fund Advances under its Note is limited for all purposes to the terms and conditions of this Agreement, including but not limited to, availability under the Facility A Borrowing Base Amount then in effect and the Facility B Borrowing Base Amount then in effect, as the case may be.

  • The amount of such reserves shall be subtracted from the Facility A Borrowing Base, the Facility B Borrowing Base, the Facility C Borrowing Base and/or the Facility D Borrowing Base, as applicable, when calculating the amount of availability under each relevant Credit Facility.

  • The Mortgage constitutes a legal, valid and perfected first Encumbrance on the property interests covered thereby, subject only to Designated Title Exceptions, Permitted Encumbrances, and matters disclosed on Schedule 11.3. Further, as of the date hereof, the oil and gas properties constituting not less than ninety percent (90%) of the present value of the sum of the initial Facility A Borrowing Base Amount and Facility B Borrowing Base Amount are Mortgaged Properties.

  • Lender agrees, during the term of this --------------------------- Agreement and for so long as no Default or Event of Default exists, to make Facility B Revolver Loans to Borrowers from time to time, as requested by Borrowers in the manner set forth in Section 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the Facility B Borrowing Base at such time.

  • The unused portion of the Facility B Borrowing Base Amount shall be determined on a daily basis by subtracting from the Facility B Borrowing Base Amount the Total Outstandings under Facility B, and by averaging said daily amounts for the period for which the fee is to be determined.

  • Subject to the terms and conditions of this Agreement, Lender agrees to make available to Southern Flow the Credit Facility B, provided that Advances may only be made under the Credit Facility B until the Maturity Date, and any Advances made thereunder shall not exceed an aggregate amount outstanding at any time equal to the lesser of (i) the Facility B Borrowing Base or (ii) the Facility B Total Draw Commitment.

  • Borrower may prepay the indebtedness evidenced by this Note in accordance with the provisions of the Credit Agreement, and, if at any time the aggregate principal amount outstanding hereunder exceeds the then applicable Facility B Borrowing Base (computed as provided in the Credit Agreement), Borrower shall prepay the amount by which such aggregate outstanding amount exceeds such borrowing base, together with interest accrued on the amount of the prepayment.


More Definitions of Facility B Borrowing Base

Facility B Borrowing Base. Facility B Commitment", "Loan Parties", "Loans" and "Notes" in Section 1.02 of the Credit Agreement are hereby amended in their entirety to hereafter read as follows: 2 "Agreement" shall mean this Credit Agreement and all exhibits and schedules hereto, as amended by Amendment No. 1 dated as of March 15, 1994, the Second Amendment to Credit Agreement dated as of August 31, 1994, the Third Amendment to Credit Agreement dated December 31, 1994, the Fourth Amendment dated as of March 3, 1995, the Fifth Amendment dated as of March 31, 1995, the Sixth Amendment dated as of November 3, 1995, and the Seventh Amendment dated as of September 23, 1996, as the same may from time to time be amended or supplemented.
Sample 1
Facility B Borrowing Base means an amount not to exceed the following as shown on Bank’s records at any time and as reported by the Borrower prior to each request for a Facility B Revolving Loan and in a Facility B Borrowing Base Certificate as required by this Agreement:
Sample 1
Facility B Borrowing Base means, as of any date, an amount equal to 50% of the value of Eligible Inventory constituting finished goods, provided, that, the total amount of reliance in Facility B Borrowing Base plus the reliance on raw material Eligble Inventory in the Facility A Borrowing Base may not exceed $5,000,000.
Sample 1
Facility B Borrowing Base. Facility B Commitment", "Facility B Termination Date" and "Note B" in Section 1.02 of the Credit Agreement are hereby amended in their entirety to hereafter read as follows:
Sample 1
Facility B Borrowing Base means, on any day, the excess of (a) the ------------------------- aggregate unpaid principal balance as of such day of each Asset Backed Security in the Total Securities Pool which is an Eligible Security on such day, over (b) ---- the Required B Holdback in effect on such day.
Sample 1
Facility B Borrowing Base means, as of any date, the lesser of: (a) the Facility B Maximum Principal Amount; or (b) the sum of (i) 80% of the aggregate Invoice Price of New Eligible Equipment and (ii) 50% of the aggregate Invoice Price of Used Eligible Equipment.
Sample 1

Related to Facility B Borrowing Base

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

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

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

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

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

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • 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.

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

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Facility B Loan means a loan made or to be made under Facility B or the principal amount outstanding for the time being of that loan.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans outstanding, (b) Revolving L/C Exposures and (c) Available Unused Commitments that, taken together, represent more than 50% of the sum of (x) all Revolving Facility Loans outstanding, (y) all Revolving L/C Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • Revolving Loan Facility means the credit facility or portion thereof established by Lender in favor of Borrower for the purpose of providing working capital in the form of loans and/or Letters of Credit to finance the manufacture, production or purchase and subsequent export sale of Items pursuant to Loan Documents under which Credit Accommodations may be made and repaid on a continuous basis based solely on credit availability on the Export-Related Borrowing Base during the term of such credit facility

  • Facility A Commitment means, with respect to any Lender, the principal amount set out beside such Lender's name in Schedule V with reference to Facility A, as amended from time to time, and to the extent not cancelled or terminated hereunder.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • 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.

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.