Australian Borrowing Base definition

Australian Borrowing Base means at any time, subject to adjustment as provided in Section 2.21, an amount equal to the sum (expressed in dollars, based on the Dollar Equivalent thereof) of, without duplication, the lesser of:
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Australian Borrowing Base means, at any time of calculation, an amount in Australian Dollars (or the Dollar Equivalent thereof) equal to:
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Australian Borrowing Base means, at any time of determination, an amount equal to the sum, without duplication of:
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Examples of Australian Borrowing Base in a sentence

  • On any date of determination of the Australian Borrowing Base, all of the Inventory owned by the Australian Borrowers and reflected in the most recent Borrowing Base Certificate delivered by the Borrowers to the Administrative Agent shall be “Australian Eligible Inventory” for the purposes of this Agreement, except any Inventory to which any of the exclusionary criteria set forth below applies.

  • On any date of determination of the Australian Borrowing Base, all of the Accounts owned by the Australian Borrowers and reflected in the most recent Borrowing Base Certificate delivered by the Australian Borrowers to the Administrative Agent shall be “Australian Eligible Accounts” for the purposes of this Agreement, except any Account to which any of the exclusionary criteria set forth below applies.

  • If, at any time and subject to Section 1.7(d), (A) the Australian Revolver Usage on such date exceeds (B) the Australian Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent or the Australian Maximum Revolver Amount, then Australian Borrowers shall, within one Business Day, prepay the Australian Obligations in accordance with Section 2.4(f)(ii) in an aggregate amount equal to the amount of such excess.

  • If at any time the Dollar Equivalent of the aggregate principal balance of all Australian Revolver Loans owing by an Australian Borrower exceeds the Australian Borrowing Base of such Australian Borrower (an “Australian Overadvance”), the excess amount shall, subject to Section 5.2, be payable by the Applicable Australian Borrower on demand by Agent.

  • Agent alone shall be authorized to determine eligibility and applicable advance rates under the U.S. Borrowing Base and the Australian Borrowing Base, whether to impose or release any reserve, or whether any conditions to funding or issuance of a Letter of Credit have been satisfied, which determinations and judgments, if exercised in good faith, shall exonerate Agent from liability to any Lender, Bank Product Provider or other Person for any error in judgment.

  • Commencing two days prior to the CVA Start Date and until the CVA Completion Date, the Borrowers shall not incur any Loans, request any Borrowings or make any Letter of Credit Requests, other than Borrowings in an aggregate amount not to exceed £5.0 million made to the Australian Borrower in reliance on the Australian Borrowing Base.


More Definitions of Australian Borrowing Base

Australian Borrowing Base at any time, with respect to the Applicable Australian Borrower, an amount equal to the sum (expressed in Dollars, based on the Dollar Equivalent thereof) of, without duplication:
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Australian Borrowing Base means, as of any date of calculation, the amount calculated pursuant to the Borrowing Base Certificate most recently delivered to the Administrative Agent in accordance with Section 9.01(j) of the Existing Facility Agreement and pursuant to this Forbearance Agreement, Consent and Amendment, equal to, without duplication, the sum of (a) 90% of Eligible Credit Card Receivables of the Qualified Obligors organized in Australia, plus (b) 85% of the then extant Net Orderly Liquidation Value of Eligible Inventory of the Qualified Obligors organized in Australia minus (c) the sum (without duplication) of the Reserves then established by the Administrative Agent with respect to the Australian Borrowing Base; provided that no CFC Limited Obligor shall be a Qualified Obligor for the purposes of this definition. The Administrative Agent shall have the right (but no obligation) to review such computations and if such computations have not been calculated in accordance with the terms of this Agreement, the Administrative Agent shall have the right to correct any such errors.
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Australian Borrowing Base means, as of any date of determination, the sum of:
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Australian Borrowing Base means, as of any date of calculation, the amount equal to, without duplication, the sum of (a) 85% of Eligible Australian Accounts, plus (b) the least of (i) 65% of the respective Value of each category of Eligible Australian Inventory (i.e., raw materials, work in process and finished goods), (ii) 85% of the then extant Net Orderly Liquidation Value of each such category of Eligible Australian Inventory (i.e., raw materials, work in process and finished goods) and (iii) the amount that would represent 60% of the sum of preceding clause (a) and this clause (b)(iii) if such amount was used under this clause (b)(iii) in the calculation of the Australian Borrowing Base minus (c) the sum (without duplication) of (i) the Australian Qualified Secured Hedging Agreement Reserve, (ii) the Australian Qualified Secured Cash Management Agreement Reserve and (iii) the Reserves then established by the Co-Collateral Agents with respect to the Australian Borrowing Base. The Co-Collateral Agents shall have the right (but no obligation) to review such computations and if, in their Permitted Discretion, such computations have not been calculated in accordance with the terms of this Agreement, the Co-Collateral Agents shall have the right to correct any such errors in such manner they shall determine in their Permitted Discretion and the Collateral Agent will notify Holdings promptly after making any such correction.
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Related to Australian Borrowing Base

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

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

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

  • 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).

  • Tranche A Borrowing Base means, at any time of calculation, 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.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

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

  • Canadian Revolving Loans means the Loans extended by the Canadian Revolving Lenders to the Canadian Borrower pursuant to Section 2.01(b).

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • 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.

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

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

  • Canadian Availability means (a) the lesser of (x) the Canadian Sublimit and (y) the sum of (i) the Canadian Borrowing Base plus (ii) solely to the extent the total Revolving Exposure relating to the Canadian Borrower exceeds the Canadian Borrowing Base, the US Availability (calculated without giving effect to any Canadian US Borrowing Base Utilization), minus (b) the total Revolving Exposure relating to the Canadian Borrower.

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.

  • Canadian Borrower as defined in the preamble hereto.

  • Canadian Swingline Loan means a Swingline Loan made to the Canadian Borrower.

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

  • 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.

  • Canadian Loans means, individually and collectively as the context may require, the Canadian Revolving Loans, the Canadian Swingline Loans, the Canadian Overadvances and the Canadian Protective Advances.

  • Canadian Revolving Commitment means, as to each Canadian Revolving Lender, its obligation to make Canadian Revolving Loans to the Canadian Borrower pursuant to Section 2.01, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Canadian Revolving Lender’s name on Schedule 2.01, in the Assignment and Assumption or other agreement pursuant to which such Canadian Revolving Lender becomes a party hereto, as such amount may be adjusted from time to time in accordance with this Agreement.

  • Alternative Currencies means (a) Euro, (b) Sterling, (c) Yen and (d) each other currency (other than Dollars) approved in accordance with Section 1.08.

  • 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 Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.