Borrowing Base Loan Sample Clauses

Borrowing Base Loan. Each of the loans which has been approved by the Agent and the Required Lenders for inclusion in the calculation of Borrowing Base Availability and pledged to Agent as Collateral pursuant to the Assignment of Documents, and which is secured by a first priority mortgage loan on a Medical Property which constitutes Eligible Real Estate and satisfies the conditions of §7.20, and which such mortgage loans are made pursuant to loan documents reasonably approved by Agent.
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Borrowing Base Loan. Each of the loans which has been approved by the Agent and the Required Lenders for inclusion in the calculation of Tranche B Availability within the Borrowing Base Availability in accordance with the terms of this Agreement, and which is secured by a first priority mortgage loan on a Self-Storage Property which constitutes Eligible Real Estate and satisfies the conditions of §7.19, and which such mortgage loans are made pursuant to the forms of loan documents previously approved by Agent, and is pledged to Agent as Collateral pursuant to the Assignment of Documents.
Sample 1
Borrowing Base Loan. Lender agrees to lend to Borrower, and Borrower may borrow from Lender, from time to time, an amount (the "Borrowing Base") equal to the sum of (i) 80% of the net amount of Eligible Accounts (as defined below), plus (ii) 50% of the net amount of Eligible Inventory (as defined below) up to a maximum of up to a maximum of 50% of the outstanding balance of the Borrowing Base; provided, however, the total of such loan shall not exceed in the aggregate at any one time $3,000,000.00 (the "Loan"). The Loan proceeds will be used by Borrower solely (a) to pay off Borrower's current lender, (b) to fund working capital requirements, (iii) to issue letters of credit, and (iv) for other general corporate purposes. In the event that, at any time, the aggregate amount of indebtedness outstanding shall exceed the Borrowing Base, Borrower agrees to immediately repay to Lender the amount necessary to cause the outstanding balance of the Loan to be no more than the Borrowing Base. Provided that Borrower shall comply with the covenants contained in this Loan Agreement and the other Loan Documents, the Loan shall be extended to Borrower until 2 years from the date of this Loan Agreement (the "Termination Date"), at which time all sums advanced hereunder shall be due and payable in full. Within the limits of this paragraph, Borrower may borrow, repay, and reborrow hereunder in accordance with the terms of this Loan Agreement. Borrower shall give Lender not less than 2 business days prior notice of each requested advance hereunder, specifying (i) the aggregate amount of such requested advance, and (ii) the requested date of such advance.
Sample 1
Borrowing Base Loan. Each of the loans which has been approved by the Agent and, prior to the Release of Security Date, the Borrowing Base Majority Lenders for inclusion in the calculation of Borrowing Base Availability in accordance with the terms of this Agreement, and which is secured by a first priority mortgage loan on a Medical Property which constitutes Eligible Real Estate and satisfies the conditions of §7.20, and which such mortgage loans are made pursuant to loan documents reasonably approved by Agent, and provided that the Release of Security Date has not occurred, is pledged to Agent as Collateral pursuant to the Assignment of Documents.
Sample 1
Borrowing Base Loan. The Borrowing Base Loan shall bear interest at the greater of (i) five percent (5.00%) per annum or (ii) the Adjusted LIBO Rate plus four percent (4.00%) per annum.
Sample 1

Related to Borrowing Base Loan

  • 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 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:

  • 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.

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

  • 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).

  • Calculation of Borrowing Base For purposes of this Agreement, the “Borrowing Base” shall be determined, as at any date of determination, as the sum of the products obtained by multiplying (x) the Value of each Eligible Portfolio Investment by (y) the applicable Advance Rate; provided that:

  • 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 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”);

  • Determination of Borrowing Base The Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate and Monthly Servicing Report delivered to the Administrative Agent.

  • 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.

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