Compliance with Borrowing Base. Notwithstanding anything to the contrary set forth herein, it shall be a condition precedent to each Borrowing, or issuance or renewal of a Letter of Credit, that after giving effect thereto (and the use of the proceeds thereof) the Aggregate Exposure would not exceed the Borrowing Base at such time.
Compliance with Borrowing Base. The Borrower will not incur any Borrowing Base Debt if, after giving effect to such incurrence, and any concurrent repayment of Loans or Other Borrowing Base Debt, the aggregate principal amount of Borrowing Base Debt would exceed the Borrowing Base.
Compliance with Borrowing Base. If at any time during the term of this Agreement, the Borrower obtains knowledge that the total principal amount of all Advances outstanding exceeds the Line of Credit Limit or the Borrowing Base whichever is less, the Borrower shall immediately reduce the principal amount of the Advances outstanding at that time by an amount equal to such excess.
Compliance with Borrowing Base. After taking into account ------------------------------ the Revolving Credit Loan or extension of credit to be made, all outstanding extensions of credit together with the requested extension of credit shall not exceed the Borrowing Base (except to the extent of Permitted Acquisition Loans). Each borrowing by the Borrower hereunder shall constitute a representation and warranty by the Borrower as of the date of each such borrowing that the conditions in clauses (a), (b) and (c) of this Section have been satisfied.
Compliance with Borrowing Base. Borrower shall conduct any sales, assignments, conveyances, transfers or other dispositions of Parts Inventory other than in the ordinary course of business in such a manner so as to remain in compliance with the Borrowing Base at all times. In addition, within five Business Days following the consummation of any such transaction (or such longer period as the Administrative Agent may agree) where the aggregate value of Parts Inventory sold, assigned, conveyed, transferred or otherwise disposed of other than in the ordinary course of business is greater than $5,000,000, Borrower shall deliver to the Administrative Agent an updated Borrowing Base Certificate reflecting such transaction.
Compliance with Borrowing Base. The Company will not permit the aggregate principal amount of the Debt outstanding under the Bank Credit Agreement, at the end of any month, to exceed the lesser of (a) the aggregate commitment amount in effect at such time under the Bank Credit Agreement, and (b) the borrowing base as determined pursuant to Section 1.1(f) of the Bank Credit Agreement as in effect on the date hereof.
Compliance with Borrowing Base. After giving pro forma effect to the proposed Credit Extension, the outstanding Revolving Exposure shall not exceed the Borrowing Base plus (without duplication) the Canadian Borrowing Base, in each case then in effect.
Compliance with Borrowing Base. Borrower shall conduct any sales, assignments, conveyances, transfers or other dispositions of Parts Inventory or other Borrowing Base Collateral other than in the ordinary course of business in such a manner so as to remain in compliance with the Borrowing Base at all times. In addition, within five Business Days following the consummation of any such transaction (or such longer period as the Administrative Agent may agree) where the aggregate value of Parts Inventory or other Borrowing Base Collateral sold, assigned, conveyed, transferred or otherwise disposed of other than in the ordinary course of business is greater than $5,000,000, Borrower shall deliver to the Administrative Agent an updated Borrowing Base Certificate reflecting such transaction.
Compliance with Borrowing Base. After giving pro forma effect to the proposed Credit Extension, (i) the outstanding Revolving Exposure plus the outstanding Tranche B Exposure shall not exceed the result of the Borrowing Base minus the U.S. Minimum Availability Requirement plus (without duplication) the Canadian Borrowing Base minus the Canadian Minimum Availability Requirement plus the Tranche B Borrowing Base, in each case as then in effect, (ii) the sum of all Lenders’ US Revolving Exposures shall not exceed the result of (A) the Borrowing Base minus (B) the U.S. Minimum Availability Requirement, in each case as then in effect, (iii) the sum of all Lenders’ Canadian Exposures shall not exceed the result of (A) the Canadian Borrowing Base minus (B) the Canadian Minimum Availability Requirement, in each case as then in effect and (iv) the sum of all Lenders’ Revolving Exposures shall not exceed the Revolving Commitments less the Line Reserve then in effect.
Compliance with Borrowing Base. (i) The Lenders agree, subject to the terms and conditions of this Credit Agreement, from time to time, to make loans and advances to the Borrowers hereunder on a revolving basis. Such loans and advances to the Borrowers (each, a "Revolving Loan"; and collectively, the "Revolving Loans") together with the Letter of Credit Obligations outstanding with respect to the Letters of Credit shall not in the aggregate exceed the lesser of (A) the Revolving Credit Committed Amount then in effect and (B) the Borrowing Base.
