Adjustment of Borrowing Base Sample Clauses

Adjustment of Borrowing Base. (1) On any date on which the sum of (i) the Aggregate Unit Collateral Values of all Eligible A/B Mortgage Loans included in the Tranche A Borrowing Base or the Tranche B Borrowing Base which are of the type described in the last paragraph of the definition of "Eligible A/B Mortgage Loan" (it being understood that for the purpose of this provision, the terms "Eligible A/B Mortgage Loans," "
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Adjustment of Borrowing Base. If there is any adjustment to the Borrowing Base that results in the revolving credit exposure exceeding the total Revolving Commitments, including in connection with any permitted note issuance or permitted refinancing debt (see Borrowing Base Reductions – Issuance or Refinancing Reduction) the Borrower shall make a prepayment in an amount no less than such excess. (d)
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Adjustment of Borrowing Base. Effective as of the date hereof, the Borrowing Base is hereby increased to $20,245,945.15. In connection with the increase, the Borrower shall pay the Borrowing Base increase fee as provided in Section 3.7
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Adjustment of Borrowing Base. Effective as of the date hereof, the Borrowing Base is hereby reduced from $17,500,000 to $16,950,000, and the Monthly Reduction Amount is hereby increased from $0 to $125,000 (with the first monthly reduction commencing on March 1, 2014). The foregoing reduction of the Borrowing Base and increase of the Monthly Reduction Amount shall be deemed to be for the scheduled determination of the Borrowing Base under Section 3.2 of the Loan Agreement as of the October 1, 2013 Determination Date. Notwithstanding anything to the contrary contained in the Loan Documents, the Borrowing Base as reduced and the Monthly Reduction Amount as increased shall remain in effect until May 1, 2014, which shall be deemed to be the next Determination Date, unless otherwise adjusted pursuant to the provisions of Sections 3.4 and 3.6 of the Loan Agreement, respectively. Notwithstanding anything to the contrary contained in the Loan Documents, Borrower agrees to deliver the next Reserve Report on or before April 1, 2014.
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Adjustment of Borrowing Base. In addition to adjustments resulting from the sale or refinancing of the Collateral (and therefore its removal from the Borrowing Base), the Agent may adjust the Borrowing Base as follows:
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Adjustment of Borrowing Base. The Agent may classify or reclassify Units as to type from time to time, or change Borrower's proposed classification of any and all Units, provided that such reclassified Unit meets the requirements set forth herein for that type of Unit. Effective as of the date that a Unit is reclassified as to type, such reclassification will give rise to a Reclassification Adjustment, except as otherwise provided in Section 4.2(f).
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Related to Adjustment of Borrowing Base

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • Borrowing Base If, at any time, (A) the Revolver Usage on such date exceeds (B) the lesser of (x) the Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, or (y) the Maximum Revolver Amount, in all cases as adjusted for Reserves established by Agent in accordance with Section 2.1(c), then Borrowers shall immediately prepay the Obligations in accordance with Section 2.4(f)(i) in an aggregate amount equal to the amount of such excess.

  • Initial Borrowing Base For the period from and including the Closing Date to but excluding the first Redetermination Date, the amount of the Borrowing Base shall be $2,250,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.14(e), (f) and (g).

  • Borrowing Base Redetermination Pursuant to Section 2.07, the Administrative Agent and the Lenders agree that for the period from and including the First Amendment Effective Date to but excluding the next Redetermination Date, the amount of the Borrowing Base shall be equal to $450,000,000. Notwithstanding the foregoing, the Borrowing Base may be subject to further adjustments from time to time pursuant to Section 2.07(e), Section 2.07(f) or Section 8.12(c). For the avoidance of doubt, the redetermination herein shall constitute the April 1, 2017 Scheduled Redetermination and the next Scheduled Redetermination shall be the October 1, 2017 Scheduled Redetermination.

  • Adjustments of Borrowings upon Effectiveness of Increase On the Commitment Increase Date, the Borrower shall (A) prepay the outstanding Loans (if any) of the affected Class in full, (B) simultaneously borrow new Loans of such Class hereunder in an amount equal to such prepayment; provided that with respect to subclauses (A) and (B), (x) the prepayment to, and borrowing from, any existing Lender shall be effected by book entry to the extent that any portion of the amount prepaid to such Lender will be subsequently borrowed from such Lender and (y) the existing Lenders, the Increasing Lenders and the Assuming Lenders shall make and receive payments among themselves, in a manner acceptable to the Administrative Agent, so that, after giving effect thereto, the Loans of such Class are held ratably by the Lenders of such Class in accordance with the respective Commitments of such Class of such Lenders (after giving effect to such Commitment Increase) and (C) pay to the Lenders of such Class the amounts, if any, payable under Section 2.15 as a result of any such prepayment. Concurrently therewith, the Lenders of such Class shall be deemed to have adjusted their participation interests in any outstanding Letters of Credit of such Class so that such interests are held ratably in accordance with their commitments of such Class as so increased.

  • Effectiveness of a Redetermined Borrowing Base After a redetermined Borrowing Base is approved or is deemed to have been approved by all of the Lenders or the Required Lenders, as applicable, pursuant to Section 2.07(c)(iii), the Administrative Agent shall notify the Borrower and the Lenders of the amount of the redetermined Borrowing Base (the “New Borrowing Base Notice”), and such amount shall become the new Borrowing Base, effective and applicable to the Borrower, the Administrative Agent, the Issuing Bank and the Lenders:

  • Amount of Borrowing At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is in an integral multiple of $1,000,000 and not less than $1,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $100,000 and not less than $1,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire Unused Total Revolving Commitment or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.02(e). Borrowings of more than one Type may be outstanding at the same time.

  • Borrowing Base Determination Until the Revolving Credit Termination Date:

  • Amount of Borrowing Tranche Each Borrowing Tranche of Loans under the LIBOR Rate Option shall be in integral multiples of $500,000 and not less than $1,000,000; and

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