Tranche B Borrowing Base definition

Tranche B Borrowing Base at any time, the amount equal to:

Tranche B Borrowing Base means an amount, as of any date, equal to (a) the sum of each and all Tranche B Specified Financial Asset Value Amounts as of such date minus (b) the amount of the Delayed Draw Reserve as of such date.

Tranche B Borrowing Base means, at any time, an amount equal to the sum of (i) the amounts in the Principal Collection Subaccount, (ii) the product of (x) the Weighted Average Tranche B Advance Rate (excluding the portion of the Sale Settlement Pending Collateral allocable to Tranche B Collateral Loans from the calculation of the Weighted Average Tranche B Advance Rate) as of such date, (y) the Portfolio Advance Rate Adjustment as of such date and (z) the Aggregate Tranche B Net Collateral Balance as of such date (excluding the portion of the Sale Settlement Pending Collateral allocable to Tranche B Collateral Loans from the calculation of the Aggregate Tranche B Net Collateral Balance) and (iii) the aggregate sale price (expressed in Dollars) of the portion of the Sale Settlement Pending Collateral allocable to Tranche B Collateral Loans.

Examples of Tranche B Borrowing Base in a sentence

• The Company shall furnish to the Administrative Agent any information that the Administrative Agent may reasonably request regarding the determination and calculation of the Tranche A Borrowing Base or the Tranche B Borrowing Base including correct and complete copies of any invoices, underlying agreements, instruments or other documents and the identity of all Account Debtors in respect of the Accounts referred to therein.

• Aggregate Borrowing Base, Tranche A Borrowing Base and Tranche B Borrowing Base calculations shall be consistent with historical methods of valuation and calculation, and otherwise satisfactory to Agent (and not necessarily calculated in accordance with GAAP).

• Borrowing Base Certificate: a certificate, in form and substance reasonably satisfactory to Agent, by which Borrower certifies calculation of the Tranche A Borrowing Base, Tranche B Borrowing Base and Aggregate Borrowing Base.

• All calculations of Value, fundings of Loans, issuances of Letters of Credit and payments of Obligations shall be in Dollars and, unless the context otherwise requires, all determinations (including calculations of the Aggregate Borrowing Base, Tranche A Borrowing Base, Tranche B Borrowing Base and financial covenants) made from time to time under the Loan Documents shall be made in light of the circumstances existing at such time.

• For purposes of calculating the Tranche A Borrowing Base, the Tranche B Borrowing Base and the Aggregate Borrowing Base, such calculation of Inventory shall be on a “first-in, first-out” basis.

More Definitions of Tranche B Borrowing Base

Tranche B Borrowing Base means, as of any date of determination, the sum of:

Tranche B Borrowing Base on any date of determination, an amount equal to the lesser of (a) the aggregate amount of Tranche B Revolver Commitments; or (b) the sum of the Tranche B Accounts Formula Amount plus the Tranche B Inventory Formula Amount.

Tranche B Borrowing Base means both such terms as defined herein and ---- --- such terms as defined in the Facility I Agreement), (ii) the Collateral Value of the Tranche D Borrowing Base attributable to Construction Loans of the type described in the second proviso to the definition of "Construction Loan" (or, if any such Construction Loan is nonconforming solely due to the sales price or construction cost of any single-family tract home to be constructed in connection therewith, the sales price or construction cost of such home), (iii) the Collateral Value of the Tranche E Borrowing Base attributable to Servicing Loans of the type described in the proviso to the definition of "Servicing Loan", and (iv) the Collateral Value of the Tranche F Borrowing Base attributable to Foreclosure/Repurchase Loans of the type described in the proviso to the definition of "Foreclosure/Repurchase Loan" (collectively, the "Nonconforming Collateral Amount"), exceeds $20,000,000, the Administrative Agent, after consultation with the Companies, shall make such adjustments to the Tranche A Borrowing Base, the Tranche B Borrowing Base, the Tranche D Borrowing Base, the Tranche E Borrowing Base and the Tranche F Borrowing Base, and shall remove Collateral from the computation of some or all of such Borrowing Bases, as may be necessary to cause the Nonconforming Collateral Amount to be less than or equal to $20,000,000.

Tranche B Borrowing Base means, as of any date of determination by Agents, from time to time, an amount equal to the sum at such time of:

Tranche B Borrowing Base. The aggregate of the following:

Tranche B Borrowing Base means, the sum of (a) 50% of the Fair Market Value of all MDS Shares held in the Custody Account plus (b) an amount equal to the difference between the Tranche A Borrowing Base and the Tranche A LC Obligations.

Tranche B Borrowing Base means at any time the amount determined in accordance with Section 2.12.