Borrowing Base Eligible Project Bonds Sample Clauses

Borrowing Base Eligible Project Bonds. Notwithstanding the foregoing provision, in the event that a Borrowing Base Eligible Project Bond becomes an Ineligible Project Bond, so long as (x) no Default or other Event of Default otherwise has occurred and is continuing, (y) there are at least three (3) remaining Borrowing Base Eligible Project Bonds which continue to qualify as Borrowing Base Eligible Project Bonds hereunder, and (z) Section 3.5(i)(i) does not apply, the Borrower shall either:
Sample 1
AutoNDA by SimpleDocs
Borrowing Base Eligible Project Bonds. Without limiting the generality of the provisions of subclause (a) above, with respect to each Borrowing Base Eligible Project Bond, the Agent shall have issued an Approval Notice for each such Project Bond.
Sample 1
Borrowing Base Eligible Project Bonds. Each of the Borrowing Base Eligible Project Bonds is owned by the Borrower and may be pledged to the Agent, on behalf of the Lenders, as provided herein. The Borrower has received customary opinions from qualified Persons stating that interest on each of the Eligible Project Bonds acquired with the proceeds of the Loan is excludable from gross income for federal income tax purposes.
Sample 1

Related to Borrowing Base Eligible Project Bonds

  • 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.

  • Borrowing Base Report The Agent shall have received from the Borrower the initial Borrowing Base Report dated as of the Closing Date.

  • Borrowing Base Reports Within thirty (30) days after the last day of each month, aged listings of accounts receivable and accounts payable (by invoice date) (the “Borrowing Base Reports”);

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Borrowing Base Assets (a) The Eligible Real Estate and Borrowing Base Loans included in the calculation of the Borrowing Base Availability shall at all times satisfy all of the following conditions:

  • 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 Compliance After giving effect to the release of the Borrowing Base Property, the Total Outstandings will be less than or equal to the Maximum Loan Amount.

  • Borrowing Base Deficiency If at any time there exists a Borrowing Base Deficiency the Borrower shall cure same in accordance with Section 2.06 hereof.

  • 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.

  • Initial Borrowing Base Certificate Duly executed originals of an initial Borrowing Base Certificate from Borrower, dated the Closing Date, reflecting information concerning Eligible Accounts and Eligible Inventory of Borrower as of a date not more than seven (7) days prior to the Closing Date.

Time is Money Join Law Insider Premium to draft better contracts faster.