Borrowing Base Agent definition

Borrowing Base Agent means CNAI, Bank of America, N.A., General Electric Capital Corporation and Xxxxx Fargo Bank, N.A. (in each case, until the resignation thereof in accordance with Article VIII hereof); provided that any determination that is required to be made by the “Borrowing Base Agent” pursuant to this Agreement (including under Section 5.08(b)) shall require, and become effective with, the agreement of all Borrowing Base Agents; provided, however, in the event that the Borrowing Base Agents cannot agree on any issue requiring the determination or approval of the Borrowing Base Agent, including the Borrowing Base Amount, the Estimated Borrowing Base Amount, the determination of eligibility standards for the Borrowing Base Amount and Estimated Borrowing Base Amount, the imposition of reserves, borrowing base reporting, appraisals or examinations or any other action or determination required of the Borrowing Base Agent under the Senior Loan Documents, the determination shall be made by the Borrowing Base Agent asserting the most conservative credit judgment.
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Borrowing Base Agent means, collectively, CNAI, Bank of America, N.A., General Electric Capital Corporation and Wxxxx Fargo Bank, N.A. (in each case, until the resignation thereof in accordance with Article VIII hereof); provided that any determination that is required to be made by the “Borrowing Base Agent” pursuant to this Agreement (including under Section 5.08(b)) shall require, and become effective with, the agreement of all Borrowing Base Agents; provided, however, in the event that the Borrowing Base Agents cannot agree on any issue requiring the determination or approval of the Borrowing Base Agent, including the Borrowing Base Amount, the determination of eligibility standards for the Borrowing Base Amount, the imposition of reserves, borrowing base reporting, appraisals or examinations or any other action or determination required of the Borrowing Base Agent under the Senior Loan Documents, the determination shall be made by the Borrowing Base Agent asserting the most conservative credit judgment.
Sample 1
Borrowing Base Agent means Wachovia Capital Finance Corporation (New England), a Massachusetts corporation, in its capacity as borrowing base agent, together with its permitted successors and assigns in accordance with Section 9.7.
Sample 1

Examples of Borrowing Base Agent in a sentence

  • Notwithstanding the foregoing, the Agents, the Borrowing Base Agent and the Lenders wish (and the Credit Parties agree) to eliminate any possibility that any past conditions, acts, omissions, events or circumstances would impair or otherwise adversely affect any of the Agents’, the Borrowing Base Agent’s and the Lenders’ rights, interests, security and/or remedies under the Credit Agreement and the other Credit Documents.

  • The Borrower will pay on demand all reasonable fees, costs and expenses of the Agents, the Borrowing Base Agent and the Lenders in connection with the preparation, execution and delivery of this Amendment and all documents incidental hereto, including, without limitation, the reasonable fees, disbursements and other charges of Xxxxxxx Xxxx & Xxxxx LLP, counsel to Administrative Agent and Collateral Agent, and of McGuireWoods LLP, counsel to Borrowing Base Agent.

  • The Borrower also agrees to provide to the Collateral Agent or the Borrowing Base Agent, from time to time upon request by either of them, evidence reasonably satisfactory to the Collateral Agent or the Borrowing Base Agent, as applicable, as to the perfection and priority of the Liens created or intended to be created by the Senior Collateral Documents.

  • The Borrower will pay on demand all reasonable fees, costs and expenses of the Agents, the Borrowing Base Agent and the Lenders in connection with the preparation, execution and delivery of this Amendment and all documents incidental hereto, including, without limitation, the reasonable fees, disbursements and other charges of Schulte Rxxx & Xaxxx LLP, xxxnsel to Administrative Agent and Collateral Agent, and of McGuireWoods LLP, counsel to Borrowing Base Agent.

  • There are no ‘rust-ing pumps’ and no ‘white elephants’ in our sample, but rather a set of generally well-executed projects.

  • Neither any Agent, Borrowing Base Agent nor any Lender shall be under any obligation to marshal any assets in favor of any Credit Party or any other Person or against or in payment of any or all of the Obligations.

  • If Required Lenders (or all Lenders in the case of an increase in the Borrowing Base) do not approve of Agent’s proposed Borrowing Base, Agent shall poll Lenders to determine the highest Borrowing Base that is acceptable to such Lenders that constitute Required Lenders (or all Lenders in the case of an increase in the Borrowing Base), and such amount shall then become the new Borrowing Base.

  • The Credit Parties agree to pay the (i) the examiner’s out-of-pocket costs and expenses incurred in connection with all such visits, audits, inspections, valuations and field examinations and (ii) the costs of all visits, audits, inspections, valuations and field examinations conducted by a third party on behalf of the Agents, Borrowing Base Agent and the Lenders.

  • Article 16 of the Competition Act differentiates between two groups of entities with a legal party status in the procedure before the Agency: on the one hand, there is the undertaking(-s) against which the procedure has been initiated ex officio by an order (the investigated party) and on the other, the person notifying a merger in a merger assessment proceeding.

  • No failure or delay on the part of any Agent, Borrowing Base Agent or any Lender in the exercise of any power, right or privilege hereunder or under any other Credit Document shall impair such power, right or privilege or be construed to be a waiver of any default or acquiescence therein, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other power, right or privilege.


More Definitions of Borrowing Base Agent

Borrowing Base Agent means The CIT Group/Commercial Services, Inc., in its capacity as borrowing base agent, together with its permitted successors and assigns in accordance with Section 9.7.
Sample 1
Borrowing Base Agent means Xxxxx Fargo Foothill, LLC, a Delaware limited liability company, in its capacity as borrowing base agent, together with its permitted successors and assigns in accordance with Section 9.7.”
Sample 1

Related to Borrowing Base Agent

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • Borrowing Base Amount means:

  • Revolving Administrative Agent means the administrative agent under the Revolving Credit Agreement.

  • 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.

  • Term Loan Administrative Agent means Bank of America, in its capacity as administrative agent under the Term Loan Credit Agreement, and its successors and assigns in such capacity.

  • Canadian Administrative Agent means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as Canadian administrative agent for the Lenders hereunder.

  • Canadian Borrowing Base means, at any time, an amount in Dollars 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.

  • U.S. 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%.

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

  • Term Administrative Agent means Bank of America, N.A., in its capacity as agent for the “Secured Parties” under (and as defined in) the Term Credit Agreement, and its successors and assigns in such capacity.

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

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

  • ABL Administrative Agent means Bank of America in its capacity as administrative agent and collateral agent under the ABL Facilities Documentation, or any successor administrative agent and collateral agent under the ABL Facilities Documentation.

  • First Lien Administrative Agent means the “Administrative Agent” as defined in the First Lien Credit Agreement.

  • Second Lien Administrative Agent means the “Administrative Agent” as defined in the Second Lien Credit Agreement.

  • 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.

  • Administrative Agent means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent.

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

  • Administrative Agent Account an account designated by the Administrative Agent from time to time.

  • Administrative Agent’s Letter shall have the meaning specified in Section 10.9 [Administrative Agent’s Fee].

  • 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.

  • Canadian Agent means JPMorgan Chase Bank, N.A., Toronto Branch, in its capacity as Canadian agent for the Lenders hereunder, or any successor Canadian agent.

  • Supplemental Administrative Agent has the meaning specified in Section 9.13(a) and “Supplemental Administrative Agents” shall have the corresponding meaning.

  • Administrative Agent’s Account means, for each Currency, an account in respect of such Currency designated by the Administrative Agent in a notice to the Borrower and the Lenders.