Borrowing Base B. At any time that the Indenture Agreement restricts Indebtedness, the sum that the Lead Borrower and those Obligors that are Restricted Subsidiaries (as defined in the Indenture Agreement) are permitted to incur as Indebtedness (as defined in the Indenture Agreement) hereunder on a consolidated basis without violating the Indenture Agreement.
Borrowing Base B means, at any time, for Borrowers collectively, the amount equal to:
Examples of Borrowing Base B in a sentence
The Administrative Agent and, in the case of Swingline Loans, the Swingline Lender or Swingline Lenders, shall have received a Borrowing Request and a Pledged Eligible Assets Notice or a Borrowing Base B Limit Notice, as applicable and each required telephonic notice provided in Sections 2.2(a) and 2.4(a), as applicable.
The Borrower may at any time prior to 4:00 P.M., New York City Time, on any Business Day, prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Administrative Agent no later than 1:00 P.M., New York City time, on the date of such prepayment, which notice shall specify the date and amount of prepayment and whether the prepayment is of Borrowing Base A Loans or Borrowing Base B Loans.
Within 30 days after the Administrative Agent’s receipt of such Internal Engineering Report and other information, (A) the Administrative Agent shall deliver to each Lender the Administrative Agent’s recommendation for the redetermined Borrowing Base, (B) the Administrative Agent and the Lenders shall redetermine the Borrowing Base in accordance with Section 2.2(d), and (C) the Administrative Agent shall promptly notify the Borrower in writing of the amount of the Borrowing Base as so redetermined.
After giving effect to the requested extension of Credit, there shall be no Deficiency with respect to any Loan and the outstanding Borrowing Base B Loans shall not exceed the Borrowing Base B Limit.
Borrowing Base A Loans shall not be used for the purpose for which Borrowing Base B Loans shall be used.
More Definitions of Borrowing Base B
Borrowing Base B means the sum of the following from time to time, less any reserves as Lender in its sole discretion elects: (i) *** of Borrowers' then existing Eligible Inventory A, plus (ii) *** of Borrowers' then Confidential portions of this document have been redacted and filed separately with the Commission. existing Eligible Inventory B, plus (iii) *** of Borrowers' then existing Eligible Inventory C; plus (iv) *** of Borrowers' then existing Eligible Inventory D; plus (v) *** of Borrowers' then Eligible Inventory E, plus (vi) *** of the NADA "low wholesale" value of Borrowers' then Eligible Inventory F, plus (vii) the lesser of (A) *** of Borrowers' then Eligible Inventory G; or (B) $1,100,000.00, plus (viii) *** of Borrower's Eligible Accounts Receivable.
Borrowing Base B means, at any particular time, an amount equal to the sum of (a) fifty percent (50%) of Eligible Foreign/Foreign Accounts, plus (b) forty-five percent (45%) of Eligible Foreign/Foreign Unbilled Receivables-180, plus (c) the lesser of (i) forty percent (40%) of Eligible Foreign/Foreign Unbilled Receivables-365 and (ii) $2,000,000.00; provided that all accounts not payable in Dollars shall be calculated at the applicable Exchange Rate.
Borrowing Base B means, at any time of determination, an amount equal to the sum, without duplication, of (a) an incremental 10% of the Adjusted Eligible Accounts Receivable in excess of the Adjusted Eligible Accounts Receivable included in the calculation of the Borrowing Base A pursuant to clause (a) of the definition thereof, in an aggregate amount not to exceed 95% of the Adjusted Eligible Accounts Receivable, plus (b)(i) if the Borrowing Base A is calculated pursuant to clause (b)(i) of the definition thereof, then an incremental 20% of the Adjusted Eligible Finished Goods in excess of the Adjusted Eligible Finished Goods included in the calculation of the Borrowing Base A pursuant to clause (b)(i) of the definition thereof, in an aggregate amount not to exceed 85% of the Adjusted Eligible Finished Goods and (ii) if the Borrowing Base A is calculated pursuant to clause (b)(ii) of the definition thereof, then, the product of (A) an incremental 10% of the Adjusted Eligible Finished Goods in excess of the Adjusted Eligible Finished Goods included in the calculation of the Borrowing Base A pursuant to clause (b)(ii) of the definition thereof, in an aggregate amount not to exceed 95% of the Adjusted Eligible Finished Goods multiplied by (B) the Recovery Rate with respect to Adjusted Eligible Finished Goods, plus (c)(i) if the Borrowing Base A is calculated pursuant to clause (c)(i) of the definition thereof, then an incremental 20% of the Adjusted Eligible Raw Materials in excess of the Adjusted Eligible Raw Materials included in the calculation of the Borrowing Base A pursuant to clause (c)(i) of the definition thereof, in an aggregate amount not to exceed 55% of the Adjusted Eligible Raw Materials and (ii) if the Borrowing Base A is calculated pursuant to clause (c)(ii) of the definition thereof, then, the product of (A) an incremental 10% of the Adjusted Eligible Raw Materials in excess of the Adjusted Eligible Raw Materials included in the calculation of the Borrowing Base A pursuant to clause (c)(ii) of the definition thereof, in an aggregate amount not to exceed 95% of the Adjusted Eligible Raw Materials multiplied by (B) the Recovery Rate with respect to Adjusted Eligible Raw Materials, minus (d) any Reserves applied in the calculation of the Borrowing Base A, in each case of the Borrowers. The Borrowing Base B at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Agents pursuant to this Agreement. Standards of e...
Borrowing Base B means, as of any time it is to be determined, the lesser of (a) the Revolving B Sublimit and (b) an amount equal to 80% of the excess, if any, of the Eligible NSCC Margin Deposits of the Borrower at such time over the Eligible NSCC Margin Deposits of the Borrower in effect as at the close of business on the day in the prior calendar month (or if the certificate for such prior calendar month with respect to the Borrower’s Eligible NSCC Margin Deposit has not been delivered pursuant to Section 8.5 hereof, the preceding calendar month) that was the day having the 10th lowest Eligible NSCC Margin Deposits of the Borrower during such calendar month; provided, that in no event shall at any time the Borrowing Base B exceed the amount of the Eligible NSCC Margin Deposits of the Borrower at such time.
Borrowing Base B means the sum of the following from time to time, less any reserves as Lender in its sole discretion elects: (i) 97% of Borrowers' then existing Eligible Inventory A, plus (ii) 92% of Borrowers' then existing Eligible Inventory B, plus (iii) 75% of Borrowers' then existing Eligible Inventory C; plus (iv) 95% of Borrowers' then existing Eligible Inventory D; plus (v) 90% of Confidential portions of this document have been redacted and filed separately with the Commission. Borrowers' then Eligible Inventory E, plus (vi) 70% of the NADA "low wholesale" value of Borrowers' then Eligible Inventory F, plus (vii) the lesser of (A) 50% of Borrowers' then Eligible Inventory G; or (B) $1,100,000.00, plus (viii) 80% of Borrower's Eligible Accounts Receivable.
Borrowing Base B means, as of any time it is to be determined, the lesser of (a) the Revolving B Sublimit and (b) an amount equal to 80% of the excess, if any, of the Eligible NSCC Margin Deposits of KCA at such time over the Eligible NSCC Margin Deposits of KCA in effect as at the close of business on the day in the prior calendar month (or if the certificate for such prior calendar month with respect to KCA’s Eligible NSCC Margin Deposit has not been delivered pursuant to Section 8.5 hereof, the preceding calendar month) that was the day having the 10th lowest Eligible NSCC Margin Deposits of KCA during such calendar month; provided, that in no event shall at any time the Borrowing Base B exceed the amount of the Eligible NSCC Margin Deposits of KCA at such time.
Borrowing Base B means, as of any date of determination, 80% of the net orderly liquidation value of Borrower's Equipment, based on the most recent appraisal conducted by an appraiser selected by Agent.