Borrowing Base and Consignment Limitations Sample Clauses

Borrowing Base and Consignment Limitations. (a) The Banks shall have no obligation to make any Extension of Credit if, at any time the Outstanding Dollar Facility Amounts, after giving effect to such Extension of Credit, would exceed the Dollar Borrowing Base. The Dollar Borrowing Base shall be determined by the Agents by reference to the most recent Borrowing Base Report delivered on a timely basis to the Agents in accordance with Section 11.4(f). (b) The Banks shall have no obligation to make any Extension of Credit if, at any time the Outstanding Facility Amounts, after giving effect to such Extension of Credit, would exceed the Borrowing Base. The Borrowing Base shall be determined by the Agents by reference to the most recent Borrowing Base Report delivered on a timely basis to the Agents in accordance with Section 11.4(f). (c) None of the Gold Banks shall have any obligation to make any Purchase and Consignments or Gold Loans if, at any time, the Fair Market Value of Consigned Precious Metal (after giving effect to all amounts requested) the outstanding principal amount of Gold Loans (after giving effect to all amounts requested) exceeds the Consignment Advance Rate Percentage multiplied by the Fair Market Value of the sum of (i) Consigned Precious Metal plus (ii) Borrower's Precious Metal. The amounts of Consigned Precious Metal and of Borrower's Precious Metal shall be determined by the Agents by reference to the most recent Consigned Precious Metal Report delivered on a timely basis to the Agents in accordance with Section 11.4(f).