Borrowing Base A Loans definition

Borrowing Base A Loans any Loans which are secured by Pledged Eligible Assets.
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Examples of Borrowing Base A Loans in a sentence

  • In the event that the Administrative Agent determines that the aggregate principal amount of Borrowing Base A Loans outstanding on such Business Day exceeds the Loan Value of such Pledged Eligible Assets (a “Deficiency”), the Administrative Agent shall promptly notify the Borrower of such Deficiency in writing (any such notice, a “Deficiency Notice”).

  • In the event of a Deficiency, the Borrower shall, within one Business Day of receipt of a Deficiency Notice, either prepay Borrowing Base A Loans in an amount at least equal to such Deficiency or pledge additional Eligible Assets with a Loan Value at least equal to such Deficiency.

  • With respect to Borrowing Base A Loans, the Borrower shall have instructed DTC to credit the Eligible Assets contemplated to be delivered pursuant to Section 2.1 or 2.3, as applicable, as identified in the applicable Pledged Eligible Assets Notice to the pledgee account of the Administrative Agent with DTC upon, if necessary, delivery of such Eligible Assets to the Borrower or payment by it therefor.

  • The Borrower may at any time prior to 4:00 P.M., New York City Time, on any Business Day, prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Administrative Agent no later than 1:00 P.M., New York City time, on the date of such prepayment, which notice shall specify the date and amount of prepayment and whether the prepayment is of Borrowing Base A Loans or Borrowing Base B Loans.

  • Borrowing Base A Loans shall not be used for the purpose for which Borrowing Base B Loans shall be used.

  • In the event of a Deficiency, such Borrower shall, within one Business Day of receipt of a Deficiency Notice, either (i) prepay Borrowing Base A Loans in an amount at least equal to such Deficiency, (ii) pledge additional Eligible Assets as necessary to eliminate such Deficiency or (iii) in the case of a Customer Deficiency, Non-Customer Deficiency or Firm Deficiency, redesignate Loans pursuant to Section 7 of the KECS Security Agreement.

  • With respect to Borrowing Base A Loans, the applicable Borrower shall have taken the actions pursuant to Section 3 of the KCA Security Agreement or the KECS Security Agreement, as applicable, with respect to the Eligible Assets contemplated to be delivered pursuant to Section 2.1 or 2.3, as applicable, as identified in the applicable Borrowing Base A Limit Notice.

  • Depending on each borrowing base, availability under the Revolving Credit Agreement was limited to either (i) a percentage of the market value of temporary positions pledged as collateral in the case of Borrowing Base A Loans, or (ii) a percentage of the margin deposit required by the NSCC in the case of Borrowing Base B Loans.

  • The proceeds of the Borrowing Base A Loans are available to KECS and KCA and may be used to meet the short-term liquidity needs of KECS and KCA arising in the ordinary course of clearing and settlement activity.

  • Borrowing Base A Loans are available up to $650 million and bear interest at the adjusted SOFR or base rate plus 1.25% per annum.

Related to Borrowing Base A Loans

  • 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.

  • Borrowing Base Amount means:

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

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

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

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

  • 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.

  • Domestic 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:

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

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

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

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

  • Borrowing Base Test means as of any date, a determination that (a) the lesser of (i) the Borrowing Base and (ii) the Facility Amount shall be equal to or greater than (b) the Advances Outstanding.

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • 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.

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Revolving Advances means Advances made other than Letters of Credit.

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • Borrowing Base Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

  • Revolving Loan Limit means, at any time, the lesser of (a) the Revolving Loan Commitment and (b) the Borrowing Base.

  • 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.

  • Tranche A Loans means the Loans made pursuant to the Tranche A Commitment.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • 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.