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.

  • 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.

  • 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 65% of the Purchase Price of an Eligible Asset and 65% 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 65% 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.

  • 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.

  • If Protective Advances are made in accordance with this Section 2.01(d), then the Current Asset Borrowing Base and the Fixed Asset Borrowing Base shall thereafter be deemed ratably increased (based on the Current Asset Revolving Facility Availability and the Fixed Asset Revolving Facility Availability at such time) by the amount of such permitted Protective Advances, but only for so long as the Administrative Agent allows such Protective Advances to be outstanding.

  • 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.

  • Company shall from time to time prepay the -------------------------- Revolving 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 outstanding balance of the Term Loan, minus, the Letter of Credit Usage; or (2) the Current Asset Borrowing Base, minus the Letter of Credit Usage, minus any reserves established by Agent pursuant to the terms of this Agreement.

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:

  • 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.

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

  • 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 Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • 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 Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • 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).

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

  • Working Capital Borrowings means borrowings incurred pursuant to a credit facility, commercial paper facility or similar financing arrangement that are used solely for working capital purposes or to pay distributions to the Partners; provided that when such borrowings are incurred it is the intent of the borrower to repay such borrowings within 12 months from the date of such borrowings other than from additional Working Capital Borrowings.