Common use of Borrowing Availability Clause in Contracts

Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the Total Working Capital Facility Extensions of Credit shall not exceed the Borrowing Base as of such date, (ii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments, (iii) the Total Working Capital Facility Extensions of Credit shall not exceed the aggregate Working Capital Facility Commitments, (iv) such extension of credit shall not result in any Applicable Sub-Limit being exceeded, (v) with respect to any such extension of credit under the Acquisition Facility, the Borrowers shall be in compliance with the covenants set forth in Section 8.1 calculated on a pro forma basis, and (vi) the Collateral Agent shall have received a certificate of a Responsible Person of the Borrowers’ Agent (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(vi) of Section 6.2(e) as of such date.

Appears in 3 contracts

Samples: Credit Agreement (Cypress Energy Partners, L.P.), Credit Agreement (Cypress Energy Partners, L.P.), Credit Agreement (Cypress Energy Partners, L.P.)

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Borrowing Availability. After giving effect to such extension of credit requested to be made on such date, (i) the Total Working Capital Facility Extensions of Credit shall not exceed the Borrowing Base as of such date, (ii) the Total Acquisition Facility Extensions of Credit shall not exceed the aggregate Acquisition Facility Commitments, , (iii) the Total Working Capital Facility Extensions of Credit shall not exceed the aggregate Working Capital Facility Commitments, , (iv) such extension of credit shall not result in any Applicable Sub-Limit being exceeded, , (v) with respect to any such extension of credit under the Acquisition Facility, the Borrowers shall be in compliance with the covenants set forth in Section 8.1 calculated on a pro forma basis, and and (vi) the Collateral Agent shall have received a certificate of a Responsible Person of the Borrowers’ Agent (such certificate, the “Availability Certification”) certifying as to the satisfaction of each of the specific conditions set forth in Sections 6.2(b) and (c) and clauses (i)-(vi) of Section 6.2(e) as of such date.

Appears in 1 contract

Samples: Credit Agreement

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