Total Borrowing Base Home Building. Indebtedness Not to Exceed ------------------------------------------------------------- Borrowing Base. The Company shall not permit the Total Borrowing Base Home -------------- Building Indebtedness to at any time exceed the Borrowing Base.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/)
Total Borrowing Base Home Building. Indebtedness Not to Exceed ------------------------------------------------------------- Borrowing Base. The Company shall not permit the Total Borrowing Base Home -------------- Building Indebtedness to at any time exceed the Borrowing Base. In calculating compliance with the above covenant, the Company shall be permitted to exclude from Total Borrowing Base Home Building Indebtedness an amount equal to the Maximum Eligible Subordinated Debt.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Standard Pacific Corp /De/), Revolving Credit Agreement (Standard Pacific Corp /De/)
