Asset Borrowing Base definition

Asset Borrowing Base means the lesser of:
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Asset Borrowing Base means, for any Asset, an amount equal to the Asset Value multiplied by the applicable Advance Rate for the Asset.
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Examples of Asset Borrowing Base in a sentence

  • Permit MLP Parent to own, directly or indirectly, less than 100% of the Equity Interests of each Obligor except as a result of a permitted Disposition; provided, that for so long as the Refinery Asset Borrowing Base Component is greater than $0, MLP Parent shall own, directly or indirectly, 100% of the Equity Interests of Calumet Montana.

  • For the avoidance of doubt, prior to the date of closing of any such Permitted Acquisition or permitted Investment, no portion of the Acquired Asset Borrowing Base shall be included in the Borrowing Base for purposes of determining the Line Cap for purposes of a Borrowing.

  • Current Asset Borrowing Base – as of any date, the remainder of (x) the Borrowing Base minus (y) the Real Estate Component.

  • The proceeds of each Loan made pursuant to the Revolving Credit Facility hereunder shall be used by the Applicable Borrower to (a) finance or reimburse a Borrower for up to 85% of the Purchase Price of an Eligible Asset and 85% of the costs incurred in connection with any Approved Improvements or any Qualified Conversion or (b) subsequent to the initial purchase of an Eligible Asset, finance up to 85% of the Individual Eligible Asset Borrowing Base of such Eligible Asset.

  • If at any time the aggregate principal amount of the Fixed Asset Loans exceeds Fixed Asset Borrowing Base or any other applicable limitation set forth in this Agreement, the Borrower shall request a Current Asset Loan in the amount of such excess and if the conditions set forth in Section 4.2 hereof are satisfied, a Current Asset Loan shall be deemed made in the amount of such excess and used to repay the Fixed Asset Loans to the extent of such excess.

  • Real Property Availability shall automatically be included in the calculation of the Fixed Asset Borrowing Base upon receipt by the Borrower of a notice from the Administrative Agent of the receipt of, and satisfaction with, the documents required by this Section 6.21.

  • Permit MLP Parent to own, directly or indirectly, less than 100% of the Equity Interests of each Obligor except as a result of a permitted Disposition; provided, that for so long as the Refinery Asset Borrowing Base Component is greater than $0, MLP Parent shall own, directly or indirectly, 100% of the Equity Interest of Calumet Montana.

  • Notwithstanding anything to the contrary, the aggregate principal amount outstanding of the Revolving Facility shall not exceed the lesser of (a) the Total Credit Facility, MINUS, the sum of (i) the outstanding principal amount as of the date of determination of the Overadvance Advances, and (ii) the Letter of Credit Obligations, or (b) the sum of the Borrowing Base, the Fixed Asset Borrowing Base and CAPEX Borrowing Base.

  • Then, the Fixed Asset Availability may be increased by the difference between the Fixed Asset Borrowing Base immediately after to the updated appraisals and the Fixed Asset Borrowing Base immediately prior to the updated appraisal.

  • Company shall from time to time prepay the Loans to the extent necessary so that the Total Current Utilization shall not at any time exceed the lesser of (1) the Maximum Revolving Amount minus, the Letter of Credit Usage; or (2) the Current Asset Borrowing Base minus the Letter of Credit Usage.

Related to Asset Borrowing Base

  • 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:

  • 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.

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

  • 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.

  • 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:

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

  • Total Borrowings means, in respect of the Corporation on a consolidated basis, as of a given date, the aggregate of the following, without duplication:

  • Revolving Credit Borrowing Request means a request made pursuant to Section 2.4 in the form of Exhibit B-4.

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

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

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

  • 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 Borrowing means a borrowing consisting of simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b).

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.