Borrowing Base Addition definition

Borrowing Base Addition has the meaning set forth in Section 9.03.
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Borrowing Base Addition means, as of any date of determination during any period set forth in the below table, the amount set forth opposite such period in the below table:
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Borrowing Base Addition means, as of any date of determination during any period set forth in the below table, the amount set forth opposite such period in the below table: Applicable Period Borrowing Base Addition During the period from March 28, 2008 to and including September 30, 2008 $10,000,000 During the period from October 1, 2008 to and including December 31, 2008 $9,750,000 During the period from January 1 , 2009 to the Second Amendment Effective Date $9,500,000 During the period from and including the Second Amendment Effective Date to and including June 30, 2009 The lesser of $3,000,000 and AR Addition During the period from July 1, 2009 to and including September 30, 2009 The lesser of $2,900,000 and AR Addition During the period from October 1, 2009 to and including December 31, 2009 The lesser of $2,800,000 and AR Addition During the period from January 1, 2010 to and including March 31, 2010 The lesser of $2,700,000 and AR Addition During the period from April 1, 2010 to and including June 30, 2010 The lesser of $2,600,000 and AR Addition During the period from July 1, 2010 to and including September 30, 2010 The lesser of $2,500,000 and AR Addition During the period from October 1, 2010 to and including December 31, 2010 The lesser of $2,400,000 and AR Addition
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Examples of Borrowing Base Addition in a sentence

  • EXHIBIT C-3 Borrowing Base Addition Report (Tranche C) See Attached.

  • Joining Party is required, pursuant to §10.3 of the Loan Agreement, to become a Borrower under the Loan Agreement as a condition to effectuating a Borrowing Base Addition.

  • Each Borrowing Base Addition Report delivered hereunder shall have all blanks completed in conformity therewith and shall be accompanied by the applicable required documents, instruments and agreements described on Exhibit E (the "Required Documents") and, if requested by Agent at any time, the applicable additional required documents, instruments, and agreements described on Exhibit F (the "Additional Required Documents").

  • This Section shall not limit Borrower’s obligation to pay expenses associated with appraisals obtained prior to the Closing Date, or in connection with a Borrowing Base Addition.

  • With regard to each Borrowing, Borrowers shall deliver or cause to be delivered to Agent (i) the applicable Borrowing Base Addition Report, before 10:30 a.m. on the Borrowing Date, and (ii) except as otherwise permitted for Tranche B Borrowings as set forth in subsection (b) below, all of the Collateral Documents required by Exhibit E for any new Collateral added by that Borrowing Base Addition Report.

  • The Borrower may from time to time elect to increase the Total Revolving Credit Commitment in a minimum amount of $5,000,000 so long as, after giving effect thereto, the aggregate increase in the Total Revolving Credit Commitment pursuant to this Section 2.28 does not exceed the sum of (a) $100,000,000 and (b) the aggregate amount of Borrowing Base Addition Amounts.

  • EXHIBIT C-1 Borrowing Base Addition Report (Tranche A) See Attached.

  • EXHIBIT C-2 Borrowing Base Addition Report (Tranche B) See Attached.

  • Such substitution shall be made by transfer of such Mortgage Loans or Mortgage-Backed Securities to the Collateral Agent pursuant to a Facility 1 Tranche A Borrowing Base Addition Report or Facility 1 Tranche B Borrowing Base Addition Report, as applicable, in the form of Attachment 1-A, 1-B or 1-C, as applicable.

  • EXHIBIT C-4 Borrowing Base Addition Report (Tranche D) See Attached.


More Definitions of Borrowing Base Addition

Borrowing Base Addition means, as of any date of determination during any period set forth in the below table, the amount set forth opposite such period in the below table: Applicable PeriodBorrowing Base AdditionDuring the period from March 28, 2008 to and including September 30,2008$ 10,000,000During the period from October 1, 2008 to and including December 31,2008$ 9,750,000During the period from January 1, 2009 to and including March 31, 2009$ 9,500,000During the period from April 1, 2009 to and including June 30, 2009$ 9,250,000During the period from July 1, 2009 to and including September 30, 2009$ 9,000,000During the period from October 1, 2009 to and including December 31,2009$ 8,750,000During the period from January 1, 2010 to and including March 31, 2010$ 8,500,000During the period from April 1, 2010 to and including June 30, 2010$ 8,250,000During the period from July 1, 2010 to and including September 30, 2010$ 8,000,000During the period from October 1, 2010 to and including December 31,2010$ 7,750,000During the period from January 1, 2011 to and including March 31, 2011$ 7,500,000During the period from April 1, 2011 to and including June 30, 2011$ 7,250,000During the period from July 1, 2011 to and including September 30, 2011$ 7,000,000During the period from October 1, 2011 to and including December 31,2011$ 6,750,000
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Related to Borrowing Base Addition

  • Borrowing Base Amount means:

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

  • 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 means, as of any date of determination, the result of:

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

  • 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.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

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

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

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

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

  • 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.

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

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

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

  • Eligible Inventory means and include Inventory of a Borrower, excluding work in process, valued at the lower of cost or market value, determined on a first-in-first-out basis, which is not, in Administrative Agent’s Permitted Discretion, obsolete, slow moving or unmerchantable and which Administrative Agent, in its Permitted Discretion, shall not deem ineligible Inventory, based on such considerations as Administrative Agent may from time to time deem appropriate including whether the Inventory is subject to a perfected, first priority security interest in favor of Administrative Agent and no other Lien (other than a Permitted Encumbrance). In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is Foreign In-Transit Inventory or in-transit within the United States; (c) is located outside the continental United States; (d) constitutes Consigned Inventory; (e) is the subject of an Intellectual Property Claim; (f) is subject to a License Agreement that limits, conditions or restricts the applicable Borrower’s or Administrative Agent’s right to sell or otherwise dispose of such Inventory, unless Administrative Agent is a party to a Licensor/Administrative Agent Agreement with the Licensor under such License Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its sole discretion); (g) is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Administrative Agent a Lien Waiver Agreement (or Administrative Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Administrative Agent shall deem appropriate in its Permitted Discretion); or (h) or if the sale of such Inventory would result in an ineligible Receivable.

  • 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:

  • 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 Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Inventory Advance Rate shall have the meaning set forth in Section 2.1(a)(y)(ii) hereof.

  • Borrowing Availability means, as of any date of determination, the lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the aggregate Revolving Loan and Swing Line Loan then outstanding.

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.

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