Accounts Borrowing Base definition

Accounts Borrowing Base means, as to the Borrower, at any time and from time to time, an amount equal to 80% of the face amount of the Borrower's then existing "Eligible Accounts Receivable" (as defined in Paragraph B below) which may be terminated or reduced as hereinabove provided, less maximum discounts, allowances, credits and adjustments which may be taken by or granted to any person who is or may become obligated to Borrower under or on account of such Eligible Accounts Receivable (the "Obligor").
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Accounts Borrowing Base means at any time, for the Borrowers in the aggregate, an amount equal to the sum of (A) ninety percent (90%) of Eligible Credit Approved Accounts plus (2) eighty-five percent (85%) of Eligible Non-Credit Approved Accounts. The Agent shall have, and reserves, the right at any time, in its reasonable credit judgment, to adjust the foregoing advance rate percentages.
Sample 1Sample 2
Accounts Borrowing Base means, on any day, an amount up to 85% of the outstanding Eligible Accounts Receivable of the Borrower and the Subsidiary Guarantors on such day.
Sample 1

Examples of Accounts Borrowing Base in a sentence

  • If Accounts in an aggregate face amount of $5,000,000 or more cease to be Eligible Accounts, Borrowing Base Obligors shall notify Agent of such occurrence promptly (and in any event within one Business Day) after any Borrowing Base Obligor has knowledge thereof.

  • Borrower shall draw all available Advances under the Accounts Borrowing Base prior to drawing any available Advances under the Inventory Borrowing Base.

  • Each Borrower shall deliver to the Agent on or before the Effective Date and no later than five (5) Business Days after the end of each Fiscal Month thereafter a Schedule of Accounts which (i) shall be as of the last Business Day of the immediately preceding month, (ii) shall be reconciled to the Accounts Borrowing Base Certificate as of such last Business Day; and (iii) shall set forth a detailed aged trial balance of all then existing Accounts for such Borrower.

  • Accounts Borrowing Base" means, as to the Borrower, at any time and from time to time, an amount equal to 80% of the face amount of the Borrower's then existing "Eligible Accounts Receivable" (as defined in Paragraph B below) which may be terminated or reduced as hereinabove provided, less maximum discounts, allowances, credits and adjustments which may be taken by or granted to any person who is or may become obligated to Borrower under or on account of such Eligible Accounts Receivable (the "Obligor").

  • The Borrowers shall deliver to the Agent, (i) a daily Accounts Borrowing Base Certificate prepared as of the close of business of the previous Business Day and (ii) not later than ten (10) Business Days after the end of each Fiscal Month of Borrowers, an Inventory Borrowing Base Certificate prepared as of the close of business of the last Business Day of the previous Fiscal Month.

  • Termination of the revolving line under the Accounts Borrowing Base shall result in a concurrent termination of the revolving line under the Inventory Borrowing Base.

  • The Co-Collateral Agents may, in their discretion, at any time when (a) the aggregate amount of the Revolving Exposures minus (b) the Accounts Borrowing Base Availability at such time shall be less than 25% of the Inventory Borrowing Base Availability at such time, waive the collateral appraisal of Eligible Inventory.

  • If Borrower grants any rebates, discounts, allowances or credits that are not shown on the face of the invoice for the Account involved, Borrower shall report such rebates, discounts, allowances or credits, as the case may be, to Lender as part of the next required Schedule of Accounts Borrowing Base Certificate.

  • No later than the close of business in Chicago, Illinois on the date of each request for a Borrowing of Revolving A Loans, the Borrower shall transfer into one or more of the Accounts Borrowing Base A Collateral having a Market Value such that after giving effect to the requested Borrowing the aggregate principal amount of Revolving A Loans shall not exceed Borrowing Base A as then determined and computed.

  • The Bank, at its sole discretion, may require the Borrower to obtain a waiver of setoff from any Obligor of the Borrower, and if the Borrower is unable to obtain such a waiver acceptable to the Bank, the Bank, at its sole discretion, may declare the Accounts, or any of them from such Obligor, as ineligible in determining the Borrower's Accounts Borrowing Base.


More Definitions of Accounts Borrowing Base

Accounts Borrowing Base means, at any date, the sum of: (a) up to ninety percent (90%) of the aggregate amount of the Companies’ Eligible Accounts Receivable consisting of Eligible Approved Accounts Receivable outstanding at such date, plus (b) up to eighty-five percent (85%) of the aggregate amount of the Companies’ Eligible Accounts Receivable consisting of Eligible Non-Approved Accounts Receivable outstanding at such date; provided, however, that the maximum amount of Royalty Trade Accounts Receivables that shall be included in the Accounts Borrowing Base at any time shall not exceed $5.0 million.
Sample 1
Accounts Borrowing Base means, at any date, the Effective Domestic Accounts Advance Rate then in effect, times the aggregate book value (calculated in accordance with GAAP) of the Domestic Accounts of Under Armour and its wholly owned Domestic Subsidiaries outstanding at such date as set forth in the most recent Borrowing Base Certificate furnished to the Agent.
Sample 1
Accounts Borrowing Base means 85% of the Eligible Accounts Receivable from time to time (which percentage may be revised upon Bank's field exam of Borrower's books and records).
Sample 1
Accounts Borrowing Base is amended in its entirety to read as follows:
Sample 1
Accounts Borrowing Base means, at any time, the sum at such time of: (i) ninety percent (90%) of the net amount of Eligible Factored Accounts; plus (ii) ninety percent (90%) of the net amount of each Company's Eligible Accounts Receivable. The “net amount” of each Company's Eligible Factoring Accounts and Eligible Accounts Receivable means the face amount of such Eligible Factored Accounts and Eligible Accounts Receivable less any and all returns, rebates, discounts, sales taxes, credits, allowances or excise taxes of any nature at any time issued, owing, claimed by customers, granted, outstanding or payable in connection with such Eligible Factored Accounts and Eligible Accounts Receivable.”
Sample 1
Accounts Borrowing Base means, at the time of its computation, the aggregate amount of the outstanding Accounts in which the Bank has a first priority perfected security interest less the amount of Ineligible Accounts and any reserves established by the Bank in accordance with Section 2.2 (c).
Sample 1

Related to Accounts Borrowing Base

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Borrowing Base means, at any time of calculation, an amount equal to:

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • Aggregate Borrowing Base means the aggregate amount of the U.S. Borrowing Base and the Canadian Borrowing Base; provided that the maximum amount of the Canadian Borrowing Base which may be included in the Aggregate Borrowing Base is the Canadian Sublimit.

  • Borrowing Base Value means, with respect to any Oil and Gas Property of a Credit Party or any Swap Agreement in respect of commodities, the value the Administrative Agent attributed to such asset in connection with the most recent determination of the Borrowing Base as confirmed by Required Lenders.

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Borrowing Base Amount means:

  • Borrowing Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Required Revolving Facility Lenders means, at any time, Revolving Facility Lenders having (a) Revolving Facility Loans (other than Swingline Loans) outstanding, (b) Revolving L/C Exposures, (c) Swingline Exposures and (d) Available Unused Commitments that, taken together, represent more than 50% of the sum of (w) all Revolving Facility Loans (other than Swingline Loans) outstanding, (x) all Revolving L/C Exposures, (y) all Swingline Exposures and (z) the total Available Unused Commitments at such time; provided, that the Revolving Facility Loans, Revolving L/C Exposures, Swingline Exposures and Available Unused Commitment of any Defaulting Lender shall be disregarded in determining Required Revolving Facility Lenders at any time.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Revolving Administrative Agent has the meaning assigned to such term in the preamble of this Agreement.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.