Belgian Borrowing Base definition
Examples of Belgian Borrowing Base in a sentence
Belgian Overadvance Loan Balance: on any date, the Dollar Equivalent of the amount by which the aggregate Belgian Revolver Loans of the Applicable Belgian Borrower or all Belgian Borrowers, as the case may be, exceed the amount of the Belgian Borrowing Base of such Applicable Belgian Borrower or the Total Belgian Borrowing Base, as applicable, on such date.
If at any time the Dollar Equivalent of the aggregate principal balance of all Belgian Revolver Loans owing by a Belgian Borrower exceeds the Belgian Borrowing Base of such Belgian Borrower (a “Belgian Overadvance”), the excess amount shall, subject to Section 5.2, be payable by the Applicable Belgian Borrower on demand by Agent.
The Administrative Agents shall have received Borrowing Base Certificates which calculate the US Borrowing Base, the UK Borrowing Base and the Belgian Borrowing Base as of the most recent fiscal month end immediately preceding the Effective Date.
If, at any time, (A) the Dollar Equivalent of the Belgian Revolver Usage on such date exceeds (B) the Belgian Borrowing Base reflected in the Borrowing Base Certificate most recently delivered by Borrowers to Agent, then Belgian Borrower shall within one (1) Business Day prepay the Belgian Obligations in accordance with Section 2.4(f) in an aggregate amount equal to the amount of such excess.
Belgian Availability: as of any date of determination, (a) the lesser of (i) the Belgian Revolver Commitments minus all Belgian LC Obligations as of such date of determination and (ii) the Total Belgian Borrowing Base as of such date of determination, minus (b) the Dollar Equivalent of the principal balance of all Belgian Revolver Loans.
Belgian Allocated U.S. Availability: U.S. Availability designated by the North American Loan Party Agent for application to clause (c) of a Belgian Borrowing Base.