Aggregate Borrowing Base definition
Aggregate Borrowing Base means, at any time, the aggregate of the Borrowing Base and the Borrowing Base (as defined in the U.S. Facility) at such time.
Aggregate Borrowing Base means as of any date of determination, an amount equal to (i) the sum of the SMP Borrowing Base and the SI Borrowing Base; less (ii) any Reserves except to the extent already deducted therefrom.
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.
Examples of Aggregate Borrowing Base in a sentence
Each Borrowing Notice will specify (i) the Draw Date, (ii) the amount of the requested Draw, (iii) each Purchaser Group’s Class A-VF Advance with respect to such Draw and (iv) a borrowing base certificate in a form satisfactory to the Class A-VF Administrative Agent (which shall include a calculation of the Aggregate Borrowing Base and the Class A Borrowing Base in accordance with the terms hereof).
Either (A) the Borrowing Base Condition must be satisfied immediately following any substitution or (B) if the Borrowing Base Condition is not satisfied immediately prior to a substitution, such substitution will maintain or lower the difference between the Aggregate Outstanding Amount of the Secured Notes and the Aggregate Borrowing Base.
More Definitions of Aggregate Borrowing Base
Aggregate Borrowing Base means the aggregate of the Borrowing Bases of all the Borrowers.
Aggregate Borrowing Base means, as of any date of determination, an amount equal to (a) the U.S. Borrowing Base as of such date plus (b) the lesser of (i) the Canadian Sublimit and (ii) the Canadian Borrowing Base as of such date.
Aggregate Borrowing Base means the aggregate amount of the US Borrowing Base and the European Borrowing Base; provided that the maximum amount of the European Borrowing Base which may be included as part of the Aggregate Borrowing Base is the European Sublimit.
Aggregate Borrowing Base means, as of any date of determination, the sum of (a) the Floorplan Borrowing Base, plus (b) the Revolver Borrowing Base.
Aggregate Borrowing Base means the sum of all of the Borrowing Bases (other than clause (d) of the definition of “RoW Borrowing Base”); provided that the RoW Borrowing Base shall not exceed 25% of the Aggregate Borrowing Base (calculated after giving effect to such cap). The Aggregate Borrowing Base or any component thereof at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 6(A).19 or Section 9.17(a), as applicable. The Administrative Agent shall (i) promptly notify the Lead Borrower in writing (including via e-mail) whenever it determines that a Borrowing Base as of any specified date set forth on a Borrowing Base Certificate differs from such Borrowing Base as determined by the Administrative Agent for such date, (ii) discuss the basis for any such deviation and any changes proposed by the Lead Borrower, including the reasons for any impositions of or changes in Reserves (in the Administrative Agent’s Permitted Discretion and subject to the definition thereof) or eligibility criteria, with the Lead Borrower, (iii) consider, in the exercise of its Permitted Discretion, any additional factual information provided by the Lead Borrower relating to the determination of such Borrowing Base and (iv) promptly notify the Lead Borrower of its decision with respect to any changes proposed by the Lead Borrower. Pending a decision by the Administrative Agent to make any requested change, the initial determination of such Borrowing Base by the Administrative Agent shall continue to constitute such Borrowing Base.
Aggregate Borrowing Base means on any date of determination, the sum of the Tranche A Borrowing Base, plus the Tranche B Borrowing Base.
Aggregate Borrowing Base means, as of any date of determination, the sum of the US Borrowing Base and the Dollar Equivalent of the UK Borrowing Base.