Borrowing Base Computation. The Borrowing Base shall be initially computed on the date of the Initial Credit Extension hereunder. Thereafter, until the Termination Date, (i) the Servicer shall deliver a certificate in the form set forth on Exhibit D hereto (each such certificate, a “Borrowing Base Certificate”) to the email addresses specified for such certificate on Schedule II setting forth a calculation of the Borrowing Base (A) on or before the second Business Day following each Monthly Reporting Date, (B) within two (2) Business Days after a request therefor has been delivered to the Servicer at the email address specified for such requests on Schedule II by the Administrative Agent or any Facility Agent (it being understood that any request by a Facility Agent shall be directed through the Administrative Agent) and (C) in connection with each Credit Extension hereunder and (ii) the Borrowing Base shall be automatically deemed recomputed on each other Business Day prior to the Termination Date, it being understood that the Servicer shall not be required to provide reports or evidence of such automatic computation but shall only be required to deliver computations of the Borrowing Base as provided above in this Section and in Section 3.02, and further understood that a deemed recomputation of the Borrowing Base shall not give rise to any Advance Suspension Event, Event of Termination or Potential Event of Termination hereunder or under any Facility Document. With respect to each calculation of the Borrowing Base, the Total Reserve Amount used in such calculation shall be measured using the information reported in the most recent Monthly Report.
Borrowing Base Computation. The Borrowing Base was computed as follows: Lessor of:
Borrowing Base Computation. This Borrowing Base Certificate is hereby prepared and delivered in accordance with the terms of the Revolving Credit Agreement dated November 6, 2007 (the "Credit Agreement"), as may be amended from time to time, between Show Me Ethanol, LLC (the "Borrower"), FCS Financial, PCA (the "Lender.") For the Fiscal Period Ending: Date Prepared: Lower of Cost or Market Availability A. Accounts Receivables Less Accounts Greater than 30 days 75% $0.00
Borrowing Base Computation. The Borrowing Base shall be determined by calculating the sum of: 100% of the available funds on deposit in Collateral Accounts that are eligible for inclusion in the Borrowing Base according to Section 2.6 of the Security Agreement; 100% of the net equity in Margin Accounts properly assigned to the Agent;
Borrowing Base Computation. The Borrowing Base shall be determined by calculating the sum of: 85% of Eligible Accounts, as defined in Section 3.1, as reported on Borrower’s monthly and fiscal year end consolidated financial statements; plus 80% of Eligible Inventory (including breeding stock), as defined in Section 3.2, as reported on Borrower’s monthly and fiscal year end consolidated financial statements valued at the lower of cost or market in accordance with GAAP; plus the Fixed Asset Component; minus 100% of all accounts payable and all uncleared checks related to Eligible Accounts and Eligible Inventory. Exhibit 1B to Second Amended Loan and Security Agreement Borrowing Base Certificate Attached Exhibit 2A to Second Amended Loan and Security Agreement Form of Line of Credit Note Attached Exhibit 2B to Second Amended Loan and Security Agreement Form of Term Note Attached Exhibit 3A to Second Amended Loan and Security Agreement Account Debtors Not Subject to Limitations Exhibit 4A to Second Amended Loan and Security Agreement
