Borrowing Base Addition definition

Borrowing Base Addition has the meaning set forth in Section 9.03.
Sample 1Sample 2
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:
Sample 1
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
Sample 1

Examples of Borrowing Base Addition in a sentence

  • By delivering the Borrowing Base Addition Report, Borrowers confirm their grant under this Agreement of a security interest in each Collateral Document included as Collateral in that Borrowing Base Addition Report that is perfected subject to delivery of the related promissory notes for those Mortgage Loans to Agent or its bailee.

  • 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.

  • The chapter’s first section describes the key features of the drug testing programs implemented by treatment schools.

  • As contemplated by UCA § 17C-5-304, the Taxing Entity consents to the Project Area Budget that will be adopted by the Agency for the Project Area in the future.

  • 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.

  • 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.

  • 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.

  • 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").

  • 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.


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: 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
Sample 1

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, at any time of calculation, an amount equal to:

  • 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.

  • 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 any one of the Borrowing Base Properties.

  • 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 Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • 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.

  • 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 in Dollars equal to:

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • 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, excluding work in process, with respect to each Borrower, valued at the lower of cost or market value, determined on a first-in, first-out basis, which is not obsolete, slow moving or unmerchantable as determined by Agent in its Permitted Discretion and which Inventory, based on such considerations as Agent may from time to time deem appropriate in its Permitted Discretion including whether the Inventory is subject to a perfected, first priority security interest in favor of Agent and no other Lien (other than a Permitted Encumbrance). Notwithstanding anything herein to the contrary, no Inventory shall be Eligible Inventory to the extent such Inventory was acquired by a Borrower pursuant to an entity creation under Section 7.12 or a Permitted Acquisition, unless Agent has (i) completed field examinations with respect to such Inventory, the results of which are satisfactory in form and substance to Agent in its Permitted Discretion or (ii) waived such restriction in its Permitted Discretion. In addition, Inventory shall not be Eligible Inventory if it: (a) does not conform in all material respects to all standards imposed by any Governmental Body which has regulatory authority over such goods or the use or sale thereof; (b) is in transit (other than between one or more locations where Borrowers are permitted hereunder to maintain or store Inventory and such location is the subject of a Lien Waiver Agreement or a Processor’s Agreement, as applicable, unless such location is owned by Borrower); (c) is located outside the continental United States or at a location that is not otherwise in compliance with this Agreement; (d) constitutes Consigned Inventory (other than Consigned Inventory that is subject to a warehouseman’s waiver in form and substance satisfactory to Agent); (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 Agent’s right to sell or otherwise dispose of such Inventory, unless Agent is a party to a Licensor/Agent Agreement with the Licensor under such License Agreement (or Agent shall agree otherwise in its Permitted Discretion after establishing reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion); (g) at any time following seventy-five (75) days after the Closing Date (or such later date agreed to by Agent), is situated at a location not owned by a Borrower unless the owner or occupier of such location has executed in favor of Agent a Lien Waiver Agreement or a Processor’s Agreement, as applicable (or Agent shall have established reserves against the Formula Amount with respect thereto as Agent shall deem appropriate in its Permitted Discretion in an amount not to exceed the equivalent of three (3) months’ rental obligation with respect to such location); or (h) if the sale of such Inventory would result in the creation of a Receivable which, on the date of such sale, would fail to constitute an Eligible Receivable due to the operation of any of clauses (b), (c) or (e) – (p) of such definition.

  • 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 Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • 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).