Available Borrowing Base definition

Available Borrowing Base means, at the particular time in question, the Borrowing Base then in effect minus the Effective Amount at such time.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Available Borrowing Base means, at any time of determination, the remainder of (a) the Facility Limit minus (b) the Total Outstandings.

Available Borrowing Base means, as of any time it is to be determined, the difference between (a) the Borrowing Base and (b) all Hedging Liability then outstanding and the Letter of Credit Usage.

Examples of Available Borrowing Base in a sentence

Subject to the terms and conditions hereof, the Lenders agree to extend a revolving credit (the “Revolving Credit”) to the Borrower in an aggregate principal amount at any one time outstanding not to exceed the lesser of (A) the Commitments and (B) the Available Borrowing Base as then determined and computed, which may be availed of by the Borrower in its discretion from time to time, be repaid and used again, to but not including the Termination Date.
For purposes of calculating the Available Borrowing Base as of such Available Borrowing Base Determination Date, such designated Projects shall not be Eligible Projects hereunder.
Administrative Agent has the right at any time, and from time to time, in its Permitted Discretion (but without any obligation), to set aside reasonable reserves against the Available Borrowing Base in such amounts as it may deem appropriate in its Permitted Discretion, including, without limitation, reserves with respect to Regulatory Events or any increased operational, legal or regulatory risk of the Borrower and its Subsidiaries.
For the avoidance of doubt, the designation pursuant to this paragraph shall be made as of each Available Borrowing Base Determination Date and shall remain in effect only until the next succeeding Available Borrowing Base Determination Date.
The Borrower shall pay to the Administrative Agent for the account of each Lender in accordance with its Applicable Percentage, a commitment fee equal to the Applicable Rate times the daily amount of the Available Borrowing Base.

More Definitions of Available Borrowing Base

Available Borrowing Base means, at any time, the Borrowing Base then in effect minus the Aggregate Term Loan Exposures at such time minus the aggregate principal amount of all Permitted Pari Passu Debt outstanding at such time.

Available Borrowing Base has the meaning given in Appendix 2.

Available Borrowing Base at any time means the Borrowing Base at such time less the aggregate principal balance of Permitted Pari Term Loan Debt outstanding at such time.

Available Borrowing Base means the then effective Borrowing Base minus the aggregate outstanding principal amount of all Borrowing Base Debt.

Available Borrowing Base means, at the particular time in question, the lesser of (a) the Borrowing Base then in effect minus the aggregate amount of Additional Senior Indebtedness outstanding at such time, and (b) the Maximum Loan Amount.

Available Borrowing Base means, at the particular time in question, the Borrowing Base (as defined in the First Lien Credit Agreement) in effect at such time minus the applicable Effective Amount (as defined in the First Lien Credit Agreement) at such time.

Available Borrowing Base means, at any time, the Borrowing Base then in effect minus the Total Term Loan Exposures at such time minus the aggregate principal amount of all Permitted Pari Term Loan Debt outstanding at such time.