Borrowing Base Advance Rate definition

Borrowing Base Advance Rate means, as of any date of determination, the lower of (i) the Weighted Average Advance Rate and (ii) the Maximum Portfolio Advance Rate.
Sample 1Sample 2Sample 3
Borrowing Base Advance Rate means (a) in respect of Cash, 100%, (b) in respect of Eligible Government Securities, Eligible Money Market Investments and Eligible Repurchase Agreements, (i) if such Asset has a next-day maturity, 100% and (ii) otherwise, (A) if such Asset is rated by S&P, 90% or (B) if such Asset is not rated by S&P, 89%, (c) in respect of Eligible Commercial Paper, 96.6%, (d) in respect of Class A Loan Assets, 82.7%, (e) in respect of Class B Loan Assets, 76.6%, (f) in respect of Class C Loan Assets, 60.3%,(g) in respect of Class D Loan Assets, 50.5%, (h) in respect of any Bond Asset, Second Lien Loan Asset or Senior Unsecured Loan Asset, the Borrowing Base Advance Rate determined according to Schedule I hereto, (i) in respect of Large Cap Equity Securities, 37.0%, (j) in respect of Mid-Cap Equity Securities, 30.2%, (k) in respect of Small Cap Equity Securities, 15.3% and (l) in respect of Eligible Convertible Securities, the rate set forth in the foregoing clauses (j)-(l) for the Eligible Equity Security into which such security is convertible; provided, that (i) in the case of any Foreign Currency Asset, the Borrowing Base Advance Rate with respect to such Asset shall be the product of (A)(1) the rate determined in accordance with the foregoing sentence minus (2) 5.0% multiplied by (B)(1) if such Foreign Currency Asset is subject to a currency hedge reasonably satisfactory to the Agent, 1.00, (2) if such Foreign Currency Asset is not subject to such a currency hedge but is denominated or payable in a currency specified on Schedule VIII hereto, the foreign currency Borrowing Base Advance Rate specified with respect to such currency on Schedule VIII hereto and (3) otherwise, zero and (ii) in the case of any Emerging Market Equity Security or any Convertible Security convertible into an Emerging Market Equity Security, the Borrowing Base Advance Rate with respect thereto shall be 15%.
Sample 1
Borrowing Base Advance Rate set forth in Section 1.01 of the Credit Agreement is hereby amended to delete therefrom the phrase “(d) in respect of Class A Loan Assets, 82.7%, (e) in respect of Class B Loan Assets, 76.6%, (f) in respect of Class C Loan Assets, 60.3%, (g) in respect of Class D Loan Assets, 50.5%, (h) in respect of any Bond Asset, Second Lien Loan Asset or Senior Unsecured Loan Asset, the Borrowing Base Advance Rate determined according to Schedule I hereto,” and insert therefor the following phrase: “(d) in respect of Class A Loan Assets, 75.0%, (e) in respect of Class B Loan Assets, 69.0%, (f) in respect of Class C Loan Assets, 40.0%, (g) in respect of Class D Loan Assets, 30.0%, (h) in respect of any Bond Asset or Senior Unsecured Loan Asset, the Borrowing Base Advance Rate determined according to Schedule I hereto,”
Sample 1

Examples of Borrowing Base Advance Rate in a sentence

  • The Borrower will not permit the aggregate Outstanding principal amount of the Revolving Credit Loans and Outstanding Letters of Credit to exceed the Borrowing Base Advance Rate.

Related to Borrowing Base Advance Rate

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

  • Maximum Advance Rate means 80.0%.

  • 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 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:

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

  • Advance Rate has the meaning assigned to such term in Section 5.13.

  • Borrowing Base Amount means:

  • 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:

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

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

  • 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.

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

  • Revolving Advance has the meaning given in Section 2.1.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Trustee Advance Rate With respect to any Advance made by the Trustee pursuant to Section 4.01(b), a per annum rate of interest determined as of the date of such Advance equal to the Prime Rate in effect on such date plus 5.00%.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • 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.

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

  • Credit Card Advance Rate means 90%.

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

  • 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 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.

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

  • borrowing rate means the interest rate expressed as a fixed or variable percentage applied on an annual basis to the amount of credit drawn down;