Borrowing Base Pool Leverage Sample Clauses

Borrowing Base Pool Leverage. As at the end of any fiscal quarter or any other date of measurement, the Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed 70% the aggregate Value of Eligible Borrowing Base Properties.
Sample 1
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Borrowing Base Pool Leverage. AsAt all times, as tested at the end of anyeach fiscal quarter xxxxx any other date of measurement, (i) from the Closing Date through the fiscal quarter ending December 31, 2010, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-seven and one-half of one percent (67.5%) of the aggregate Value of Eligible Borrowing Base Properties, (ii) from the fiscal quarter ending March 31, 2011 through the fiscal quarter ending December 31, 2011, the Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties, (iii) from the on the last day of such fiscal quarter, (ii) for each fiscal quarter ending on or after March 31, 2012 through the fiscal quarter ending December 31, 2012, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-two and one-half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, and (iviii) from and after the fiscal quarter ending March 31, 2013, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties. on the last day of such fiscal quarter.
Sample 1
Borrowing Base Pool Leverage. At all times, as tested at the end of each fiscal quarter and any other date of measurement, (i) from the Closing Date through the fiscal quarter ending December 31, 2011, the Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, (ii) for each fiscal quarter ending on or after March 31, 2012 through the fiscal quarter ending December 31, 2012, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty-two and one-half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, and (iii) from and after the fiscal quarter ending March 31, 2013, Borrower shall not permit Consolidated Borrowing Base Indebtedness as at the last day of each fiscal quarter to exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter.
Sample 1
Borrowing Base Pool Leverage. (Section 10.5) Item 1: Property Level Debt $ Item 2: Obligations $ Item 3: Sum of items 1 and 2 (Consolidated Borrowing Base Indebtedness) $ Item 4: Value of Eligible Borrowing Base Properties $ Item 5: Product of Item 4 multiplied by 0.7 (must be greater Item 3) $
Sample 1
Borrowing Base Pool Leverage. 10.5 is deleted in its entirety and the following is substituted in lieu thereof:
Sample 1
Borrowing Base Pool Leverage. At all times, as tested at the end of each fiscal quarter and any other date of measurement, (i) for each fiscal quarter ending on or after March 31, 2012 through the fiscal quarter ending December 31, 2012, Consolidated Borrowing Base Indebtedness shall not exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, (ii) for each fiscal quarter ending on or after March 31, 2013 through the fiscal quarter ending June 30, 2013, Consolidated Borrowing Base Indebtedness shall not exceed sixty-two and one half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter, and (iii) for each fiscal quarter ending on or after September 30, 2013, Consolidated Borrowing Base Indebtedness shall not exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties on the last day of such fiscal quarter.”
Sample 1
Borrowing Base Pool Leverage. As at the end of any fiscal quarter or any other date of measurement, (i) from the Closing Date through the fiscal quarter ending December 31, 2010, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-seven and one-half of one percent (67.5%) of the aggregate Value of Eligible Borrowing Base Properties, (ii) from the fiscal quarter ending March 31, 2011 through the fiscal quarter ending December 31, 2011, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-five percent (65%) of the aggregate Value of Eligible Borrowing Base Properties, (iii) from the fiscal quarter ending March 31, 2012 through the fiscal quarter ending December 31, 2012, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty-two and one-half of one percent (62.5%) of the aggregate Value of Eligible Borrowing Base Properties, and (iv) from and after the fiscal quarter ending March 31, 2013, Borrower shall not permit Consolidated Borrowing Base Indebtedness to exceed sixty percent (60%) of the aggregate Value of Eligible Borrowing Base Properties.”
Sample 1
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Borrowing Base Pool Leverage. (Section 10.5) Item 1: Obligations $
Sample 1

Related to Borrowing Base Pool Leverage

  • 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.

  • 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 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:

  • Unencumbered Leverage Ratio The Parent and the Borrower shall not permit the Unencumbered Leverage Ratio to exceed 60.0% at any time; provided, however, that (I) notwithstanding the foregoing if the Covenant Relief Period ends pursuant to clause (ii) of the definition thereof, during the Ratio Adjustment Period, the Unencumbered Leverage Ratio may exceed 60.0% but shall not exceed 65.0% at any time and (II) after the Ratio Adjustment Period, the Borrower shall have the option, exercisable two times, upon written notice from the Borrower to the Administrative Agent that the Borrower is exercising such option, to elect that the Unencumbered Leverage Ratio may exceed 60.0% for a period not to exceed two (2) full fiscal quarters, such period to commence on the date set forth in such notice (such period, the “Unencumbered Leverage Ratio Surge Period”), so long as (i) the Borrower has delivered a written notice to the Administrative Agent that the Borrower is exercising its option under this subsection (a), (ii) the Unencumbered Leverage Ratio does not exceed 65.0% at any time during the Unencumbered Leverage Ratio Surge Period, (iii) the Borrower completed a Material Acquisition which resulted in such ratio (after giving effect to such Material Acquisition) exceeding 60% at any time during the fiscal quarter in which such Material Acquisition took place, and (iv) an Unencumbered Leverage Surge Period was not in effect for the fiscal quarter immediately preceding the Borrower’s election. The Borrower shall have the option to exercise both an Unencumbered Leverage Ratio Surge Period and a Leverage Ratio Surge Period in the same notice.

  • First Lien Leverage Ratio On the last day of any Test Period on which the Revolving Facility Test Condition is then satisfied (it being understood and agreed that this Section 6.15 shall not apply until the last day of the first full Fiscal Quarter ending after the Closing Date), the Borrowers shall not permit the First Lien Leverage Ratio to be greater than 7.75:1.00.

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

  • 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:

  • Maximum Unencumbered Leverage Ratio As of the last day of any fiscal quarter, the Unencumbered Leverage Ratio to exceed sixty percent (60%); provided that, if any Material Acquisition shall occur and the Unencumbered Leverage Ratio shall have been less than sixty percent (60%) for at least one full fiscal quarter immediately preceding the proposed Unencumbered Leverage Ratio Covenant Holiday, then, at the election of the Borrower upon delivery of prior written notice to the Administrative Agent, concurrently with or prior to the delivery of a Compliance Certificate pursuant to Section 7.02(a), and provided that no Default or Event of Default shall have occurred and be continuing, the maximum Unencumbered Leverage Ratio covenant level shall be increased to sixty-five (65%) for the fiscal quarter in which such Material Acquisition is consummated and the three (3) fiscal quarters immediately following the fiscal quarter in which such Material Acquisition is consummated (any such increase an “Unencumbered Leverage Ratio Covenant Holiday”); provided further that not more than two (2) Unencumbered Leverage Ratio Covenant Holidays may be elected by the Borrower during the term of this Agreement;

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

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