Available Borrowing Assets definition

Available Borrowing Assets means, as of any date of determination, the sum of (a) 80% of Eligible Accounts, plus (b) 25% of Inventory, plus (c) 40% of the net book value of property, plant and equipment of the Borrower and its Subsidiaries on a Consolidated basis, in each case as of such date.
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Available Borrowing Assets means, as of any date of determination, the sum of (a) 80% of Eligible Accounts, plus (b) 25% of Inventory, plus (c) 40% of the net book value of property, plant and equipment of the Borrower and its Subsidiaries on a Consolidated basis, in each case as of such date minus (d) all Reserves. The Administrative Agent may, in its Permitted Discretion, adjust Reserves used in computing the Available Borrowing Assets.
Sample 1
Available Borrowing Assets means, as of any date of determination, the sum of (a) 80% of Eligible Accounts, plus
Sample 1

Examples of Available Borrowing Assets in a sentence

  • Until such time as a Compliance Certificate is delivered pursuant to Section 6.02(b) that indicates that the Net Leverage Ratio is less than or equal to 4.00 to 1.00, if for any reason the Total Outstandings at any time exceed the Available Borrowing Assets, the Borrower shall immediately prepay the Loans and L/C Borrowings (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess.

Related to Available Borrowing Assets

  • Borrowing means Loans of the same Type, made, converted or continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect.

  • 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.

  • Canadian Borrowing means a Borrowing of Canadian Loans.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

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

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • Pro-Rata Borrowing has the meaning assigned to such term in Section 2.03(a).

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Canadian Base Rate Loan means a Canadian Loan that bears interest at a rate per annum determined by reference to the Canadian Prime Rate.

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

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

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

  • Term B Borrowing means a borrowing consisting of simultaneous Term B Advances of the same Type made by the Term B Lenders.

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

  • Subsequent Borrowings has the meaning assigned to such term in Section 2.19.

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

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

  • Term A Borrowing means a borrowing consisting of simultaneous Term A Advances of the same Type made by the Term A Lenders.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • 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.

  • LIBOR Borrowing means a Borrowing comprised of LIBOR Loans.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • 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.