Net Borrowing Base definition

Net Borrowing Base means, at any date of determination, the sum of (a) the Borrowing Base then in effect minus, (b) the Aggregate Commitment then in effect under and as defined in the Antero Resources Credit Agreement.
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Net Borrowing Base means, at any date, (a) the Borrowing Base less (b) the sum of (i) the outstanding principal amount of indebtedness of Borrower and Restricted Subsidiaries to the Insurance Companies in respect to the Senior Secured Notes and (ii) the outstanding indebtedness of Borrower and its Restricted Subsidiaries under the Unsecured Lines.
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Net Borrowing Base means, as of any date of determination, an amount equal to the Borrowing Base less any Available Funds (including any Eligible Investments) on deposit in the Collection Account
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Examples of Net Borrowing Base in a sentence

  • Within twenty-one (21) days after each Fiscal Month End Date, a Borrowing Base Certificate, in form and substance satisfactory to the Agent reporting that all Revolving Credit Loans and Letter of Credit Obligations as of such Fiscal Month End Date are in compliance with the Net Borrowing Base as of such Fiscal Month End Date and such Borrowing Base Certificate shall be accompanied by a summary accounts receivable aging.

  • The Agent shall confirm or verify the Borrower's calculation of the Net Borrowing Base set forth in each Borrowing Base Certificate delivered pursuant to Section 4.2, and shall promptly notify each of the Company and the Banks of the results thereof and provide to each Bank a copy of the related Borrowing Base Certificate.

  • The Agent shall be named as loss payee on all casualty insurance, marine insurance, and political risk insurance maintained by the Company and its Subsidiaries on assets included in the determination of the Net Borrowing Base.

  • To the extent there has been any material change in Collateral included in the determination of the Net Borrowing Base or in the Obligors, such additional opinions in connection therewith as the Agent shall determine are necessary to confirm the Acceptable Security Interest of the Agent in such Collateral and the enforceability of each Obligor's Obligations.

  • Upon receipt of such request, the Issuing Bank will request the Agent to determine that after giving effect to the issuance of the Letter of Credit so requested, the Aggregate Exposure will not exceed the Total Commitment, and Borrowing Base Exposure will not exceed the Net Borrowing Base, and the Agent will promptly notify the Issuing Bank of such determination.

  • If on any date, Borrowing Base Exposure shall exceed the Net Borrowing Base, the Company shall cause one or more Borrowers on such date to prepay Loans in an aggregate amount equal to the lesser of (i) such excess or (ii) the Loans then outstanding, together with any amount required to be paid in connection therewith pursuant to Section 5.12.

  • Upon delivery of an Election to Participate and satisfaction of the conditions precedent set forth in Section 7.3, (i) the Net Borrowing Base shall be recalculated so as to include therein all values with respect to property and Local Debt of such Participating Subsidiary, and (ii) each Bank's Commitment hereunder shall thereafter include a commitment to lend to such Subsidiary or to issue Letters of Credit for the account of such Participating Subsidiary.

  • Any redetermination by the Lenders of the Borrowing Base or the Net Borrowing Base under this Section 3.3 shall be final, binding and conclusive.

  • Net Borrowing Base Availability (the lesser of (1) and (2) minus (3) and (4)) ___ The foregoing Borrowing Base certificate is made and delivered this___ day of_____ 199__ .

  • The Asset Sales, or any of them when effected at any such time shall be a Permitted Disposition for purposes of the Credit Agreement notwithstanding (i) the aggregate amount of P&NG Rights and Tangibles so disposed of (A) in any single Asset Sale may exceed 7.5% of the Net Borrowing Base, or (B) in the aggregate for all transactions may exceed 10% of the Net Borrowing Base, or (ii) may result in aggregate Tangibles disposed of in any 12 month period to exceed $10,000,000.


More Definitions of Net Borrowing Base

Net Borrowing Base means, for any day of determination thereof:
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Net Borrowing Base means, as of any particular date, the amount equal to the difference of (a) the then Borrowing Base minus (b) the then outstanding Total Unsecured Indebtedness (other than the sum of the outstanding principal balance under the Facility and the face amount of Letters of Credit outstanding under the Facility).
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Net Borrowing Base means the engineered borrowing base, minus projected payments to Amerada Xxxx, plus projected cash flow after all payments (provided that the calculation of cash flow is satisfactory to the lender), minus capital expenditures.
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Net Borrowing Base means the Borrowing Base as determined by Lenders for the then subsequent six month period, minus projected principal payments on the Amerada Xxxx Indebtedness, plus projected cash flow (calculation of which shall be acceptable to Lenders in their sole discretion) of the Borrowers for such period, minus projected Capital Expenditures for such period.
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Related to Net Borrowing Base

  • 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:

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

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

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

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

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

  • Tranche A Borrowing Base means, at any time of calculation, 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.

  • 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 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.

  • 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:

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

  • Total Borrowings means, in respect of the Company on a consolidated basis, as of a given date the aggregate of the following, without duplication:

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

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

  • 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.

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Revolving Credit Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Consolidated Total Borrowings means in relation to the Group, an amount (expressed in Singapore dollars) for the time being, calculated on a consolidated basis, in accordance with generally accepted accounting principles in Singapore, equal to the aggregate of:

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

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

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