Borrowing Base Imbalance. If at any time the sum of the outstanding amount of the Revolving Credit Loans, the Swing Line Loans, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations exceeds the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time, then the Borrower shall immediately pay the amount of such excess to the Administrative Agent for the respective accounts of the Lenders for application: first, to any Unpaid Reimbursement Obligations; second, to the Revolving Credit Loans; and third, to provide to the Administrative Agent cash collateral for Reimbursement Obligations as contemplated by §4.2(b) and (c). Each payment of any Unpaid Reimbursement Obligations or prepayment of Revolving Credit Loans shall be allocated among the Lenders, in proportion, as nearly as practicable, to each Reimbursement Obligation or (as the case may be) the respective unpaid principal amount of each Lender’s Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion. Each prepayment received by a Lender pursuant to this Section shall be applied, in the absence of contrary instruction by the Borrower, first to the payments of Base Rate Loans and then to the principal of LIBOR Rate Loans.
Borrowing Base Imbalance. If at any time the sum of the outstanding amount of the Revolving Credit Loans, the Swing Line Loans, the Maximum Drawing Amount and all Unpaid Reimbursement Obligations exceeds the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time, then the Borrower shall immediately pay the amount of such excess to the Agent for the respective accounts of the Lenders for application: first, to any Unpaid Reimbursement Obligations; second, to the Revolving Credit Loans; and third, to provide to the Agent cash collateral for Reimbursement Obligations as contemplated by §4.2(b) and (c). Each payment of any Unpaid Reimbursement Obligations or prepayment of Revolving Credit Loans shall be allocated among the Lenders, in proportion, as nearly as practicable, to each Reimbursement Obligation or (as the case may be) the respective unpaid principal amount of each Lender’s Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.
Borrowing Base Imbalance. If at any time the aggregate Credit ------------------------ Exposure of the Lenders at such time exceeds the lower of (a) the Borrowing Base minus the Blocked Availability and (b) the then effective Commitments at such ----- time (a "Borrowing Base Imbalance"), Borrower shall prepay the Loans then ------------------------ outstanding in an amount equal to such excess, together with accrued interest within one (1) Business Day of such event occurring. It is understood that a Borrowing Base Imbalance may occur or exist as a result of, among other things, changes to the Underwritten Value of any of the Projects and/or the determination or re-determination of the Appraised Value of any of the Projects. In connection with any such prepayment, Borrower shall also pay any applicable expenses pursuant to Section 2.11(5). ---------------
Borrowing Base Imbalance. If at any time the aggregate Credit Exposure of the Lenders at such time exceeds the lower of (a) the Borrowing Base and (b) the then effective Commitments at such time (a "Borrowing Base Imbalance"), Borrower shall prepay the Loans then outstanding in an amount equal to such excess, together with accrued interest within one (1) Business Day of such event occurring. It is understood that a Borrowing Base Imbalance may occur or exist as a result of, among other things, changes to the Underwritten Value of any of the Projects and/or the determination or re-determination of the Appraised Value of any of the Projects. In connection with any such prepayment, Borrower shall also pay any applicable expenses pursuant to Section 2.11(5).
Borrowing Base Imbalance. If at any time the Aggregate Note Principal Balance exceeds the Borrowing Base at such time, then the Borrower shall immediately pay the amount of such excess to the Agent, for the respective accounts of the Lenders, to reduce, on a pro rata basis, the unpaid principal balance of the Credit Loans. Each prepayment of Credit Loans shall be allocated among the Lenders, in proportion, as nearly as practicable, to the respective unpaid principal amount of each Lender’s Note, with adjustments to the extent practicable to equalize any prior payments or repayments not exactly in proportion.
Borrowing Base Imbalance. The condition that exists if the Aggregate Note Principal Balance exceeds the Borrowing Base. If such term is used in a quantitative context, the amount of the Borrowing Base Imbalance shall be the amount of such deficiency. Borrowing Request. A notice substantially in the form of Exhibit G hereto. Breakage Cost. With respect to any Lender with respect to any Breakage Prepayment, an amount equal to the difference (as reasonably determined by such Lender and set forth in a certificate of such Lender delivered to the Borrower and the Administrative Agent) of (a) such Lender’s actual cost of obtaining funds for the LIBOR Loan or Eurodollar Market Index Rate Loan (as applicable) that is the subject of such Breakage Prepayment for the period from the date of such Breakage Prepayment to the last day of the Interest Period in effect (or that would have been in effect) for such LIBOR Loan or Eurodollar Market Index Rate Loan (as applicable), minus (b) the amount of interest likely to be realized by such Lender in redeploying the funds released or not utilized by reason of such Breakage Prepayment for such period.
