Global Borrowing Base definition

Global Borrowing Base means the “Global Borrowing Base” as determined from time to time pursuant to Section 2.7.

Global Borrowing Base means the sum of the Canadian Borrowing Base, the Dutch Borrowing Base, the German Borrowing Base, the U.S. Borrowing Base and the U.K. Borrowing Base (calculated giving effect to the proviso in the definition of “PP&E Component”).

Global Borrowing Base means, at any time of determination, an amount equal to the sum of (a) the U.S. Borrowing Base as of such time, plus (b) the European Borrowing Base as of such time.

Examples of Global Borrowing Base in a sentence

• Some targets you can quantify before you get to the financial projections.

• The Global Borrowing Base shall be redetermined upon receipt by the Global Administrative Agent, the Engineering Banks, the Australian Administrative Agent (on its own behalf and on behalf of the Australian Lenders), the Canadian Administrative Agent (on its own behalf and on behalf of the Canadian Lenders), and the U.S. Lenders of the relevant Approved Engineers' Report or Company's Engineers' Report, as the case may be, pursuant to Sections 2.3(b), (d) or (e) or 9.1(d), (e) or (f).

• The failure of the Engineering Banks to make any such reduction upon receipt of any notice with respect to any such claim, dispute or casualty shall not preclude their later election to so reduce the Global Borrowing Base.

• For the purposes hereof, "material changes" shall be deemed to have occurred for purposes of this Section 2.3(e) when such changes would in the aggregate result in a material decrease in the Global Borrowing Base as determined by the Engineering Banks in their sole and absolute discretion.

• Upon the consummation of the Sale of any Property or any Borrowing Base Subsidiary constituting a permitted Sale under clause (iv) of Section 11.3, the Global Borrowing Base shall be reduced by an amount required under Section 11.3 on account of such Sale.

More Definitions of Global Borrowing Base

Global Borrowing Base means the sum of the ABL Borrowing Base and the Term Loan Borrowing Base.

Global Borrowing Base means at any time an amount determined in accordance with Section 2.07, as the same may be adjusted from time to time pursuant to Section 8.12(c), Section 9.02(n), or Section 9.10.

Global Borrowing Base means the sum of the Canadian Tranche A Borrowing Base, the Canadian Tranche B Borrowing Base, the Germany Silicone Tranche A Borrowing Base, the Germany Silicone Tranche B Borrowing Base, the Germany Quartz Tranche A Borrowing Base, the Germany Quartz Tranche B Borrowing Base, the Additional M&E Borrowing Base, the U.S. Tranche A Borrowing Base and the U.S. Tranche B Borrowing Base.

Global Borrowing Base the sum of the U.K. Borrowing Base and the U.S. Borrowing Base; provided, that the U.K. Borrowing Base may not exceed 50% of the Global Borrowing Base.

Global Borrowing Base shall have the meaning ascribed to such term in the U.S. Credit Agreement (without amendment except as permitted pursuant to the Intercreditor Agreement).

Global Borrowing Base means the Global Borrowing Base then in effect as calculated and established in accordance with the terms and provisions of Section 2.3, as such Global Borrowing Base shall be reduced from time to time pursuant to Sections 2.3(a), (d), (e) or (f) or Section 11.3.

Global Borrowing Base at any date, eighty-five percent (85%) of the sum of each of the following, without duplication: (a) cash of any Loan Party held overnight in such Loan Party’s Store Safe; (b) the cash balances held in Store Accounts of Loan Parties; (c) the amount payable under checks properly endorsed to a Loan Party and held in such Loan Party’s Store Safe or converted to electronic form; (d) clearing house transfers to a Loan Party initiated on the previous day and transfers of same-day funds to a Loan Party to be credited to such Loan Party’s Store Account; (e) cash held overnight by armored car carriers for the benefit of Loan Parties; (f) cash balances held in demand deposit accounts and/or investment accounts of Loan Parties on which the Administrative Agent, for the benefit of the Secured Parties, has been granted a first priority perfected Lien; and (g) Eligible CLP Assets of Loan Parties; provided that, in no event shall any of the items described in subparagraphs (a) through (g) above be included in any calculation of the “Global Borrowing Base” to the extent any of the same are subject to any Liens other than Permitted Liens.