Borrowing Base Definitions Sample Clauses

Borrowing Base Definitions. With respect to the Borrowing Base, the following terms shall have the following meanings:
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Borrowing Base Definitions. 8 2.1. Borrowing Base................................................................ 8 2.2. Available Cash................................................................ 9 2.3. Developed Lots and Fall Foundation Lots....................................... 9 2.4. [Intentionally Omitted.]...................................................... 10 2.5. [Intentionally Omitted.]...................................................... 10 2.6. Eligible Lumber Inventory..................................................... 9 2.7. Eligible Real Estate.......................................................... 9 2.8. Investments in Joint Ventures................................................. 10 2.9. Lots Under Development........................................................ 10 2.10. Model Homes................................................................... 10 2.11. Real Estate Held for Development.............................................. 10 2.12. Home Work-in-Process.......................................................... 10 2.13. Speculative Homes............................................................. 11 2.14. Mutual Exclusivity............................................................ 11
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Borrowing Base Definitions. 56 4.4 Waiver of Requirements; Mark-xx-Market........................................... 72
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Borrowing Base Definitions. As used in this Section 4 and in the other provisions of this Agreement and the other Loan Documents, the following terms shall have the following meanings, PROVIDED that (a) for the purpose of the use of each such term in determining the HomeSide Tranche A Borrowing Base or the HomeSide Tranche B Borrowing Base, (i) each reference to the Borrower therein shall be deemed to refer to HomeSide, (ii) each reference therein to the Borrower Security Agreement shall be deemed to refer to the HomeSide Security Agreement, and (iii) each reference to the Tranche A Borrowing Base or the Tranche B Borrowing Base therein shall refer to the HomeSide Tranche A Borrowing Base or the HomeSide Tranche B Borrowing Base, respectively, and (b) for the purpose of the use of each such term in determining the HonoMo Tranche A Borrowing Base or the HonoMo Tranche B Borrowing Base, (i) each reference to the Borrower therein shall be deemed to refer to HonoMo, (ii) each reference therein to the Borrower Security Agreement shall be deemed to refer to the HonoMo Security Agreement, and (iii) each reference to the Tranche A Borrowing Base or the Tranche B Borrowing Base therein shall refer to the HonoMo Tranche A Borrowing Base or the HonoMo Tranche B Borrowing Base, respectively:
Sample 1
Borrowing Base Definitions. 9 2.1. Borrowing Base....................................................9 2.2. Available Cash....................................................9 2.3. Developed Lots....................................................9 2.4. Eligible Lumber Inventory........................................10 2.5. Eligible Real Estate.............................................10 2.6.
Sample 1
Borrowing Base Definitions. The term “Borrowing Base” is defined as the sum of the following: (a) 80% of the eligible accounts receivable. This 80% advance rate is subject to a collateral audit and its findings must be satisfactory to Bank. The advance rate can be reduced as result of the collateral audit as it will also review the quality of the accounts receivable and any related dilution based on a field examination of Borrower’s assets. (b) Credit insured foreign receivables will be considered as eligible accounts receivable but advances on qualified foreign receivables cannot exceed $4,000,000.00. Advance on qualified foreign receivables is subject to the satisfactory receipt of the Bank/Lender Policy Beneficiary endorsement, naming Bank as the beneficiary in the Credit Insurance Policy. · All receivables are eligible except for the following: (a) The amount of any unpaid trade invoices more than 90 days from the invoice date. (b) Accounts due from one account debtor representing 25% or more of total receivables. Exceptions may be allowed on accounts pre-approved by lender. (c) Cross aged accounts making up 50% or more. Exceptions may be allowed on accounts pre-approved by lender. (d) Foreign open accounts not insured by the credit insurance. (e) Contra accounts, inter-company accounts, consignment, promotion/demo accounts, affiliate accounts, employee accounts, and credit memo. (f) Government accounts. Contracts with US government will require perfection under the Assignment of Claims Act. (g) Customer deposits, account not arising out of normal course of trade or business. Index: Wall Street Journal Prime Rate (currently at 6.25%). Margin: One-Quarter of One Percentage Point (0.25%). Rate (Index plus Margin): Wall Street Journal Prime Rate (currently at 6.25%) plus One-Quarter of One Percentage Point (0.25%) per annum, floating. Loan Payment Method: By monthly invoice. Payment Date: The 5th day of the following month after the initial advance is made. Maturity Date: August _____, 2007.
Sample 1
Borrowing Base Definitions. The following terms when used herein have the following meanings: "Borrowing Base" means, as of any time it is to be determined, (a) 80% of the net book value of Eligible Accounts plus (b) 50% of the value of Eligible Inventory consisting of raw materials or finished goods plus (c) 25% of Eligible Inventory consisting of work-in-process, plus (d) the Allowable Over Advance minus (e) the aggregate principal amount outstanding under the Teachers' Note.
Sample 1
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Borrowing Base Definitions. The Loan Agreement is amended by adding a new Exhibit A in the form of Exhibit A to this Amendment and the definitions of Borrowing Base, Eligible Domestic Inventory, and Eligible Receivables included in Exhibit A are incorporated into the Loan Agreement.
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Borrowing Base Definitions 
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Related to Borrowing Base Definitions

  • Credit Agreement Definitions Unless otherwise defined herein or the context otherwise requires, terms used in this Pledge Agreement, including its preamble and recitals, have the meanings provided in the Credit Agreement.

  • Definitions and Usage Except as otherwise specified herein or as the context may otherwise require, capitalized terms used but not otherwise defined herein are defined in Appendix A hereto, which also contains rules as to usage that shall be applicable herein.

  • Borrower Information Used to Determine Applicable Interest Rates The parties understand that the applicable interest rate for the Obligations and certain fees set forth herein may be determined and/or adjusted from time to time based upon certain financial ratios and/or other information to be provided or certified to the Lenders by the Borrower (the “Borrower Information”). If it is subsequently determined that any such Borrower Information was incorrect (for whatever reason, including without limitation because of a subsequent restatement of earnings by the Borrower) at the time it was delivered to the Administrative Agent, and if the applicable interest rate or fees calculated for any period were lower than they should have been had the correct information been timely provided, then, such interest rate and such fees for such period shall be automatically recalculated using correct Borrower Information. The Administrative Agent shall promptly notify the Borrower in writing of any additional interest and fees due because of such recalculation, and the Borrower shall pay such additional interest or fees due to the Administrative Agent, for the account of each Lender, within five (5) Business Days of receipt of such written notice. Any recalculation of interest or fees required by this provision shall survive the termination of this Agreement, and this provision shall not in any way limit any of the Administrative Agent’s, the Issuing Bank’s, or any Lender’s other rights under this Agreement.

  • Applicable Margin The following percentages per annum, based upon the Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to §8.4(c): Level Total Leverage Ratio Eurodollar Rate Loans / Letter of Credit Fees Base Rate Loans Commitment Fee I ≥ 3.75x 2.00% 1.00% 0.35% II < 3.75x and ≥ 3.25x 1.75% 0.75% 0.30% III < 3.25x and ≥ 2.50x 1.50% 0.50% 0.25% IV < 2.50x 1.25% 0.25% 0.20% Any increase or decrease in the Applicable Margin resulting from a change in the Total Leverage Ratio shall become effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to §8.4(c); provided, however, that if a Compliance Certificate is not delivered when due in accordance with such Section, then, upon the request of the Required Lenders, Level I shall apply as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and shall remain in effect until the date on which such Compliance Certificate is delivered. The Applicable Margin in effect from the Sixth Amendment Effective Date through the date of delivery of the Compliance Certificate for the period ending March 31, 2019 (pursuant to §8.4(c)), with the financial statements to be delivered pursuant to §8.4(a), shall initially be set at Level II and in any event shall be no lower than Level II. Notwithstanding the foregoing to the contrary, in the event either the Borrowers or the Administrative Agent determines, in good faith, that the calculation of the Total Leverage Ratio on which the Applicable Margin for any particular period was determined is inaccurate and, as a consequence thereof, the Applicable Margin was lower or higher than it should have been, (i) the Borrowers shall promptly deliver (but in any event within ten (10) Business Days after the Borrowers discover such inaccuracy or the Borrowers are notified by the Administrative Agent of such inaccuracy, as the case may be) to the Administrative Agent correct financial statements for such period (and if such financial statements are not accurately restated and delivered within thirty (30) days after the first discovery of such inaccuracy by the Borrowers or such notice, as the case may be, and the Applicable Margin was lower than it should have been, then Level I shall apply retroactively for such period until such time as the correct financial statements are delivered and, upon the delivery of such corrected financial statements, thereafter the corrected Level shall apply for such period), (ii) the Administrative Agent shall determine and notify the Borrowers of the amount of interest that would have been due in respect of outstanding Obligations, if any, during such period had the Applicable Margin been calculated based on the correct Total Leverage Ratio (or, to the extent applicable, the Level I Applicable Margin if such corrected financial statements were not delivered as provided herein) and (iii) the applicable Borrower shall promptly pay to the Administrative Agent the difference, if any, between that amount and the amount actually paid in respect of such period. The foregoing notwithstanding shall in no way limit the rights of the Administrative Agent or the Lenders to exercise their rights to impose the rate of interest applicable during an Event of Default as provided herein.

  • Provisions Related to Extended Revolving Credit Commitments If the maturity date in respect of any tranche of Revolving Credit Commitments occurs prior to the expiration of any Letter of Credit, then (i) if one or more other tranches of Revolving Credit Commitments in respect of which the maturity date shall not have occurred are then in effect, such Letters of Credit shall automatically be deemed to have been issued (including for purposes of the obligations of the Revolving Credit Lenders to purchase participations therein and to make Revolving Credit Loans and payments in respect thereof pursuant to Section 2.03(d)) under (and ratably participated in by Lenders pursuant to) the Revolving Credit Commitments in respect of such non-terminating tranches up to an aggregate amount not to exceed the aggregate principal amount of the unutilized Revolving Credit Commitments thereunder at such time (it being understood that no partial face amount of any Letter of Credit may be so reallocated) and (ii) to the extent not reallocated pursuant to immediately preceding clause (i), the Borrower shall Cash Collateralize any such Letter of Credit in accordance with Section 2.17. If, for any reason, such Cash Collateral is not provided or the reallocation does not occur, the Revolving Credit Lenders under the maturing tranche shall continue to be responsible for their participating interests in the Letters of Credit. Except to the extent of reallocations of participations pursuant to clause (i) of the second preceding sentence, the occurrence of a maturity date with respect to a given tranche of Revolving Credit Commitments shall have no effect upon (and shall not diminish) the percentage participations of the Revolving Credit Lenders in any Letter of Credit issued before such maturity date. Commencing with the maturity date of any tranche of Revolving Credit Commitments, the sublimit for Letters of Credit shall be agreed with the Lenders under the extended tranches.

  • Related Definitions For purposes of this Annex, the following terms, when capitalized, shall have the following meanings:

  • Financial definitions In this Agreement:

  • Revised Definitions For purposes of this Agreement, and notwithstanding anything in Paragraph 2 of the SIFMA Master to the contrary, the following terms shall have the following amended and restated meanings:

  • Special Definitions For purposes of this Article Fourth, the following definitions shall apply:

  • Deleted Definitions Subject to Section 2.01 hereof, the Indenture is hereby amended by deleting any definitions from the Indenture with respect to which references would be eliminated as a result of the amendment of the Indenture pursuant to Section 1.01 hereof.

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