Adjusted Borrowing Base NOI definition

Adjusted Borrowing Base NOI means, with respect to any Borrowing Base Property for the prior quarter, annualized, Borrowing Base NOI for such Borrowing Base Property less the Capital Reserve for such Borrowing Base Property.
Sample 1Sample 2Sample 3
Adjusted Borrowing Base NOI means, for a given period, the Adjusted NOI attributable to the Borrowing Base Properties for such period.
Sample 1Sample 2Sample 3
Adjusted Borrowing Base NOI means an amount equal to (a) the aggregate NOI from Approved Leases of Borrowing Base Properties for the most recently completed two full fiscal quarters multiplied by 2, minus (b) the Reserves for Replacements for all such Borrowing Base Properties as of the end of such period, minus (c) pre-paid rents and revenues, rents and revenues from leases in default or greater than 90 days past due, leases whereby a tenant is subject to insolvency or bankruptcy proceedings and leases within 6 months of the initial lease maturity or earliest termination date whereby a lease extension notice has not been provided, lease termination fees and security deposits except to the extent applied in satisfaction of tenants’ obligations for rent. To the extent that a Borrowing Base Property (other than the Initial Properties) has not been owned (or otherwise eligible for inclusion as a Borrowing Base Property) for the past full two fiscal quarters, the NOI from that Property will be annualized.
Sample 1Sample 2

Examples of Adjusted Borrowing Base NOI in a sentence

  • Not more than ten percent (10%) of the Borrowing Base Value and not more than ten percent (10%) of the Adjusted Borrowing Base NOI may at any time be attributable to Qualifying Borrowing Base Properties that are not owned in fee simple, but are instead leased under a Qualifying Ground Lease.

  • To the extent that such percentage limitation is exceeded, such Qualifying Borrowing Base Properties shall still be included in the calculations of Borrowing Base Value and of Adjusted Borrowing Base NOI, but the amounts so contributed to Borrowing Base Value and Adjusted Borrowing Base NOI shall be reduced to the extent necessary to comply with such percentage limitation.


More Definitions of Adjusted Borrowing Base NOI

Adjusted Borrowing Base NOI means, for a given period, the Adjusted NOI attributable to the Borrowing Base Properties for such period. “Adjusted Borrowing Base NOI Exclusion Period” the meaning given that term in the definition of “Debt Yield Ratio (Senior Debt)”. “Adjusted NOI” means, with respect to any Property and for a given period and without duplication, the amount equal to: (a) rents and otherrevenues recognized in the ordinary course from such Property (including proceeds of rent loss insurance but excluding (i) pre-paid rents and revenues and security deposits except to the extent applied in satisfaction of tenants’ obligations for rent, and (ii) any Lease termination payments received during such period, which exceed $2,000,000 in the aggregate over the four (4) fiscal quarters preceding the date of determination) minus (b) all expenses paid or accrued related to the ownership, operation or maintenance of such Property, including but not limited to taxes, assessments and other similar charges, insurance, utilities, payroll costs, maintenance, repair and landscaping expenses, marketing expenses, and general and administrative expenses (including an appropriate allocation for legal, accounting, advertising, marketing and other expenses incurred in connection with such Property, but specifically excluding general overhead expenses of the Borrower) minus (c) the Reserve for Replacements for such Property as of the end of such period minus (d) the greater of
Sample 1

Related to Adjusted Borrowing Base NOI

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

  • 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.

  • 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:

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

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

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

  • 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.

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

  • 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.

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

  • 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 Amount means:

  • Foreign Borrowing Base means, as of any date, 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.

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

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

  • 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.

  • Consolidated Total Borrowings means in relation to the Group, an amount (expressed in Singapore dollars) for the time being, calculated on a consolidated basis, in accordance with generally accepted accounting principles in Singapore, equal to the aggregate of:

  • 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.

  • Adjusted Leverage Ratio means, on any date of determination, the ratio of (i) Adjusted Liabilities to (ii) Tangible Net Worth.

  • 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.

  • Canadian Base Rate means at any time, the greater of (a) the Canadian Prime Rate and (b) except during any period of time during which a notice delivered to Centuri under Section 5.8 shall remain in effect, the annual rate of interest equal to the sum of (i) the CDOR Rate for an Interest Period of one month at such time plus (ii) one percent (1%) per annum; each change in the Canadian Base Rate shall take effect simultaneously with the corresponding change or changes in the Canadian Prime Rate or the CDOR Rate, as applicable.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness, divided by (b) Unencumbered Asset Value.

  • Effective Leverage Ratio has the meaning set forth in the Statement.

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