Borrowing Base Facility definition

Borrowing Base Facility means one or more revolving debt facilities, in each case, with banks or other institutional lenders or other credit providers that provide for committed advances calculated by reference to the value of assets of the Issuer and its Restricted Subsidiaries, whether or not pledged as collateral to secure borrowings thereunder.
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Borrowing Base Facility means one or more debt facilities with banks or other institutional lenders, accredited investors or institutional investors providing for revolving credit loans, letters of credit, bank guarantees and/or banker’s acceptances, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time (including increasing the amount of available borrowings thereunder or adding the Company’s Subsidiaries as additional borrowers or guarantors thereunder).
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Borrowing Base Facility means the $39.3 million borrowing facility which was terminated in December 2016;
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Examples of Borrowing Base Facility in a sentence

  • In February 2016, the PostRock Debtors defaulted under the Borrowing Base Facility, and in March 2016, the lender accelerated the balance of indebtedness rendering the entire principal balance plus all accrued interest immediately due and payable.

  • The Borrowing Base Facility is guaranteed by all of the subsidiaries of PostRock other than non-debtor CEPM.

  • Consequently, in February 2015, PostRock sought to sell substantially all of its assets, but was unable to locate a buyer willing to make an offer sufficient to fully satisfy the outstanding financial obligations under the Borrowing Base Facility.

  • As of the Petition Date, the principal amount outstanding under the Borrowing Base Facility was approximately $65 million.

  • Nevertheless, PESC was one of two primary obligors under the $200 million Borrowing Base Facility with Lenders, and, on the Petition Date, the outstanding indebtedness was approximately $65 million.

  • This type of ratio is standard market practice in financing at these terms, as the loan signed with Banca March has a term of 7 years, the EIB one has a term of 10 years and the ICO one has a term of 8 years.Additionally, the Group company Columbus Stainless has structured financing (Borrowing Base Facility) which is also subject to a ratio relating to the maintenance of minimum equity levels in that company.

  • The Borrowing Base Facility may be repaid and redrawn from time to time until its final maturity in March 2014 for tranche A and March 2015 for tranche B.As of June 30, 2013, we had $100 million outstanding under tranche A and $280 million outstanding under tranche B.

  • Additionally, PESC was a wholly owned subsidiary of PostRock and was one of two primary obligors under the $200 million Borrowing Base Facility with Lenders.

  • From these facts, Trustee paints a plausible picture of insolvency for the PostRock Debtors as a whole and separately.6Because the Amended Complaint states that PESC was primarily liable on the $200 million Borrowing Base Facility with a balance of $65 million on the Petition Date and at a level exceeding the combined asset base of the PostRock Debtors and far exceeding the asset 6As of the Petition Date, Postrock’s schedules reflected assets of $4,613,256.58 compared to liabilities of $68,259,738.67.

  • The Borrowing Base Facility is repayable on demand but it is anticipated that it will be repayable on collection of the specified borrowing base amounts.


More Definitions of Borrowing Base Facility

Borrowing Base Facility means either (i) an asset-based revolving and/or term loan facility (which may also include the Derivatives Facilities) whereby the available commitments under the facility are calculated with reference to an accounts receivable and/or inventory borrowing base calculation and that also may include, as part of the calculation, all or a portion of the value of the ABL Snowflake Collateral or (ii) a working capital facility pursuant to any loan agreement, credit facility or other similar debt instrument which is provided by a bank or other financial institution or group of banks or other financial institutions, in each case for the purposes of funding general corporate requirements of the Company and/or the Guarantors and shall include, without limitation, any such facility containing the Derivatives Facilities; and with respect to both of the foregoing clauses (i) and (ii), in each case as conclusively determined pursuant to a Board Resolution of the Company adopted in good faith at the time such agreement, facility or instrument is entered into and attached to an Officers’ Certificate delivered to the Collateral Trustee. For greater certainty, “Borrowing Base Facility” shall include, without limitation, the ABL Facility.
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Borrowing Base Facility means the facility under which Borrower may request Bank to issue Borrowing Base Advances, as specified in Section 2.3(b) hereof.
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Borrowing Base Facility means the Second Amended and Restated Credit Agreement, dated September 21, 2010, among PostRock Energy Services Corporation, PostRock Midcontinent Production, LLC, Royal Bank of Canada (as Administrative Agent and Collateral Agent) and the lenders party thereto.
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Borrowing Base Facility means the receivables borrowing base facility made available by the Borrowing Base Lenders under clause 2.1(e) (Facilities);
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Borrowing Base Facility means the First Amended and Restated Credit Agreement dated as of August 16, 2005 among Xxxxxx & Blake, certain of its subsidiaries as guarantors, the lender parties thereto, and BNP Paribas, as administrative agent, as the same may be amended, modified, or supplemented from time to time.
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Borrowing Base Facility means the $100 million borrowing base facility established pursuant to the credit agreement dated July 22, 2010, as amended, among the Company, the Facility Agent, Sumitomo Mitsui Banking Corporation Europe Limited, Export Development Canada and International Finance Corporation.
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Related to Borrowing Base Facility

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

  • 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 Base Amount means:

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • 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.

  • 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 Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • 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.

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

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

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

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

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

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • Secure facility or "detention home" means a local, regional or state public or private locked

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

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

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

  • 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.

  • Replacement Revolving Facility has the meaning assigned to such term in Section 9.02(c)(ii).

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

  • 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.

  • Replacement Revolving Facility Commitments shall have the meaning assigned to such term in Section 2.21(l).

  • 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.

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).