Borrowing Base Advance Cap definition

Borrowing Base Advance Cap means at any time an amount equal to the least of:
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Borrowing Base Advance Cap set forth in Section 1.01 is amended and restated in its entirety as follows:
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Borrowing Base Advance Cap means, as of any date of calculation thereof, the amount due or that would be due from the Borrower, if any (without giving effect to any netting by the Borrower), upon the designation of an “early termination date” or its equivalent or a “termination event” or its equivalent with respect to all Swap Contracts with a particular Swap Bank under the applicable ISDA Master Agreement (or other applicable agreements for physical trades or other transactions) or its equivalent (e.g., long-form confirmations), including, without limitation, any amount due upon the voluntary termination or early settlement thereof.”
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Examples of Borrowing Base Advance Cap in a sentence

  • The aggregate Effective Amount outstanding under this Agreement shall not exceed the lesser of the Borrowing Base Advance Cap or the Total Available Committed Line Portion.

  • If the Aggregate Amount on any day ever exceeds the Borrowing Base Advance Cap, the Borrower shall immediately (1) repay on that date the excess amount or (2) Cash Collateralize on such date the excess amount.

  • If on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans then outstanding plus the Effective Amount of all L/C Obligations exceeds the lesser of (a) the Borrowing Base Advance Cap or (b) the total Uncommitted Line, the Borrower shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and L/C Borrowings by an amount equal to the applicable excess.

  • If on any date after giving effect to any Cash Collateralization made on such date pursuant to the preceding sentence, the Effective Amount of all Revolving Loans then outstanding plus the Effective Amount of all L/C Obligations exceeds the lesser of (a) the Borrowing Base Advance Cap or (b) the total Committed Line, the Borrower shall immediately, and without notice or demand, prepay the outstanding principal amount of the Revolving Loans and L/C Borrowings by an amount equal to the applicable excess.

  • After giving effect to such Credit Extension requested to be made on such date, the Aggregate Amount shall not exceed the Borrowing Base Advance Cap.

  • Any cash deposited as cash collateral or portion thereof, shall be returned to Co-Borrowers as soon as reasonably practicable after notice to Agent of the expiration, termination or satisfaction of the Letters of Credit in sufficient amounts such that the Effective Amount of all Working Capital Loans then outstanding plus the Effective Amount of all L/C Obligations does not exceed the lesser of the aggregate Working Capital Commitments or the Borrowing Base Advance Cap.

  • In the event that any such advance made to fund BNP Paribas or any of its Affiliates results in an advance in excess of the Borrowing Base Advance Cap, the Banks shall have no duty to fund their pro rata share of any excess resulting from such advance made to repay amounts owing to BNP Paribas or any of its Affiliates under any Swap Contract, but BNP Paribas' or any of its Affiliates' outstandings hereunder shall be deemed to be increased by the amount of such excess.

  • Any cash deposited as Cash Collateral or portion thereof, shall be returned to Co-Borrowers as soon as reasonably practicable after notice to Agent of the expiration, termination or satisfaction of the Letters of Credit in sufficient amounts such that the Effective Amount of all Loans then outstanding plus the Effective Amount of all L/C Obligations does not exceed the Borrowing Base Advance Cap determined as of the Collateral Position Report most recently received by the Agent pursuant to Section 7.02(b).

  • CNA Pool Employees must work at least one (1) weekend every month.

  • In the event any advance described above does exceed the Borrowing Base Advance Cap, the Borrower shall pay to the Administrative Agent, for the benefit of BNP Paribas or any of its Affiliates, the amount of such excess, together with interest thereon, within one (1) Business Day after the date of such advance and, notwithstanding anything to the contrary herein, the Banks shall not share in such payment.


More Definitions of Borrowing Base Advance Cap

Borrowing Base Advance Cap. “Net Working Capital,” “Tangible Net Worth,” and “Total Liabilities” as follows:
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Borrowing Base Advance Cap in Section 1.01 of the Credit Agreement is hereby amended by replacing “25,000,000” with “$35,000,000”.
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Borrowing Base Advance Cap means the following, as determined by reference to the periods of time indicated below:
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Borrowing Base Advance Cap means at any time an amount equal to the lesser of: (1) $11,500,000.00; or (2) the sum of: (i) 80% of the amount of Eligible Accounts; plus (ii) the lesser of: (A) $2,750,000.00, or (B) 25% of the amount of Eligible Inventory; plus (iii) $7,837,000.00.
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Borrowing Base Advance Cap is amended to mean at any time -------------------------- an amount equal to the lesser of:
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Borrowing Base Advance Cap means at any time an amount equal to the least of: (a) $260,000,000.00;
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Related to Borrowing Base Advance Cap

  • Borrowing Base Amount means:

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

  • 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.

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

  • 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.

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

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

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

  • Maximum Revolving Advance Amount means $25,000,000.

  • 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:

  • Revolving Advance has the meaning given in Section 2.1.

  • 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.

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

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

  • 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.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

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

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

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

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

  • 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 Limit has the meaning set forth in Section 1.1(a)(i).

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

  • 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.