Adjusted Borrowing Base Amount definition

Adjusted Borrowing Base Amount means, as determined as of the last day of any fiscal month, an amount equal to (a) the sum of (i) the Borrowing Base as of such date and (ii) the Borrowing Base as of the last day of the immediately preceding fiscal month, in each case as set forth in the respective monthly Borrowing Base Certificates prepared as of the last day of each such fiscal month and delivered to the Administrative Agent pursuant to Section 6.02(c) hereof, divided by (b) two (2).
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Adjusted Borrowing Base Amount means, as of any date of determination, the Borrowing Base Amount, as adjusted in accordance with Schedule 1.1(i) annexed hereto. ---------------
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Adjusted Borrowing Base Amount means, as of any date of determination, the Borrowing Base Amount, as adjusted in accordance with Schedule 1.1(i) annexed hereto.
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Examples of Adjusted Borrowing Base Amount in a sentence

  • Anything contained in this Agreement to the contrary notwithstanding in no event shall the Total Utilization of Commitments at any time exceed the Adjusted Borrowing Base Amount then in effect and in no event shall the Total Utilization of Revolving Loan Commitments exceed the aggregate amount of all Revolving Loan Commitments then in effect.

  • You have advised Loan Agent, the Loan Banks, Note Agent, and the Note Banks (collectively, the "Bank Group") that the sum of the Working Capital Facility Usage, the Reducing Revolving Usage, and the aggregate outstanding balance of all Secured Floating Rate Notes exceeds the Adjusted Borrowing Base Amount (the amount of such excess in existence from time to time, the "Overadvance").

  • Each Credit Party shall, and shall cause each of its Subsidiaries to, ensure that (i) the Aggregate Capitalized Value Amount shall be at all times before the six (6) month anniversary of the Closing Date, equal to or greater than Two Hundred Fifty Million Dollars ($250,000,000) and (ii) at all times thereafter, the Adjusted Borrowing Base Amount shall be equal to or greater than $200,000,000.

  • Minimum Aggregate Capitalized Value; Minimum Adjusted Borrowing Base Amount.

  • Anything contained in this Agreement to the contrary notwithstanding in no event shall the Total Utilization of Revolving Loan Commitments at any time exceed the lesser of (y) the Revolving Loan Commitments then in effect and (z) the Adjusted Borrowing Base Amount then in effect.

  • Company shall have delivered a Borrowing Base Certificate, in form and substance reasonably satisfactory to the Administrative Agent, its counsel and the Requisite Lenders, dated as of April 30, 2002 demonstrating an Adjusted Borrowing Base Amount as of such date of not less than $530,360,636.

  • Anything contained in this Agreement to the contrary notwithstanding in no event shall the Total Utilization of Revolving Loan Commitments at any time exceed the lesser of (y), the Revolving Loan Commitments then in effect and (z) the Adjusted Borrowing Base Amount then in effect.

  • Set forth on Schedule 5.10 is a list of all Borrowing Base Properties used in the calculation of the Adjusted Borrowing Base Amount, as such schedule may be updated from time to time pursuant to Section 6.02.


More Definitions of Adjusted Borrowing Base Amount

Adjusted Borrowing Base Amount means, as of any date of determination, the sum of (a) the Borrowing Base, plus (b) an amount up to $5,000,000 equal to the amount of unrestricted cash subject to a first-priority Lien in favor of Collateral Agent for the benefit of Banks and the holders of the Secured Floating Rate Notes.
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Adjusted Borrowing Base Amount means the Borrowing Base Amount as adjusted to reflect the following diversification parameters:
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Related to Adjusted Borrowing Base Amount

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

  • Borrowing Base Amount means:

  • 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.

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

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

  • Adjusted Borrowing Value means, on any date of determination, for any Eligible Loan Asset, an amount equal to the lower of (a) the Outstanding Balance of such Eligible Loan Asset at such time and (b) the Assigned Value of such Eligible Loan Asset at such time, multiplied by the Outstanding Balance of such Eligible Loan Asset at such time. Notwithstanding the foregoing, the Adjusted Borrowing Value of any Loan Asset that is no longer an Eligible Loan Asset at such time shall be zero.

  • 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.

  • 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.

  • Tranche A 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:

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

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

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

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

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

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

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.

  • Accelerated Borrowing Base Delivery Event means either (i) the occurrence and continuance of any Event of Default, or (ii) the failure of the Borrowers to maintain Availability at least equal to the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap. For purposes of this Agreement, the occurrence of an Accelerated Borrowing Base Delivery Event shall be deemed continuing (i) so long as such Event of Default has not been waived, and/or (ii) if the Accelerated Borrowing Base Delivery Event arises as a result of the Borrowers’ failure to achieve Availability as required hereunder, until Availability has exceeded the greater of (x) $22,500,000 and (y) fifteen percent (15%) of the Loan Cap for thirty (30) consecutive calendar days, in which case an Accelerated Borrowing Base Delivery Event shall no longer be deemed to be continuing. The termination of an Accelerated Borrowing Base Delivery Event as provided herein shall in no way limit, waive or delay the occurrence of a subsequent Accelerated Borrowing Base Delivery Event in the event that the conditions set forth in this definition again arise.

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base 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.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of (i) the principal amount of Revolving Loans and Swing Loans made and outstanding at such time and (ii) the LC Outstandings at such time.

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

  • Canadian Availability means, as of any date of determination, the amount (if any) by which (a) Canadian Available Credit, exceeds (b) the sum of the aggregate Dollar Equivalent of (i) Revolver Credit Advances made to the Canadian Borrowers plus (ii) the Canadian Borrowers’ Letter of Credit Obligations (other than the Canadian Borrowers’ Letter of Credit Obligations cash collateralized in accordance with the terms of the Loan Documents).

  • Availability Amount is (a) the lesser of (i) the Revolving Line or (ii) the amount available under the Borrowing Base minus (b) the outstanding principal balance of any Advances.

  • Maximum Incremental Facilities Amount means, at any date of determination, (a) the sum of (i) $500,000,000, plus (ii) an amount such that the Borrower is in Pro Forma Compliance with the Senior Secured Leverage Test (for the avoidance of doubt without netting any cash from the proceeds of any Indebtedness being incurred in reliance on such test and, if applicable, assuming the full amount of any New Revolving Credit Commitments are drawn), plus (iii) amounts used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to refinance or replace Revolving Credit Commitments and/or Term Loans (including any fees, accrued interest or other amounts owing in respect thereof), plus (iv) from and after the 2012 Extension Effective Date, the aggregate principal amount of 2014 Term Loans outstanding as of such date of determination, provided that such additional amounts pursuant to this clause (iv) are only available to the extent such amounts are used to incur Indebtedness the Net Cash Proceeds of which are substantially concurrently used to prepay 2014 Term Loans in accordance with Section 5.1 of this Agreement (such prepaid 2014 Term Loans, “Incremental Facility Prepaid 2014 Term Loans”) plus (v) the Dollar Equivalent principal amount of Term Loans (other than New Term Loans, Incremental Facility Prepaid 2014 Term Loans or Term Loans refinanced or replaced pursuant to clause (iii) above) voluntarily prepaid pursuant to Section 5.1 prior to such date, plus (vi) the amount of all Revolving Credit Commitments that have either been permanently reduced pursuant to Section 4.2 or have otherwise terminated in accordance with the terms of this Agreement after the 2012 Extension Effective Date (without duplication of the amounts incurred pursuant to clause (iii) above) minus (b) the sum of (i) the aggregate principal amount of New Loan Commitments incurred pursuant to Section 2.14(a) prior to such date and (ii) the aggregate principal amount of Permitted Other Indebtedness issued or incurred pursuant to Section 10.1(bb)(i)(a) prior to such date.