Borrowing Base B definition
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 Borrower shall also prepay the Borrowing Base B Loans in full on the first Business Day on which Borrowing Base B Loans have been outstanding for more than 30 days in any rolling period of 90 consecutive days.
In the event that the aggregate principal amount of outstanding Borrowing Base B Loans exceeds the Borrowing Base B Limit, the Borrower shall, on such Business Day, prepay Borrowing Base B Loans in an amount sufficient to cure such deficiency.
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.
Following the July 29, 2020 amendment, Borrowing Base B Loans are subject to a sublimit of $200 million and bear interest at the adjusted LIBOR or base rate plus 2.50% per annum.
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) 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 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 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, 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, the amount equal to:
(a) the amount equal to: (i) five (5%) percent of the Eligible Accounts, plus (ii) five (5%) percent of the Eligible Credit Card Receivables, plus (iii) eleven (11%) percent of the Net Recovery Percentage multiplied by the Value of Eligible Inventory (other than Eligible Inventory consisting of Pharmacy Inventory), provided, that, commencing on the first day of the first full calendar quarter after the Amendment No. 7 Effective Date and on the first day of each of the next seven (7) calendar quarters thereafter, the percentage set forth in this clause (iii) shall be reduced by three-eighths of one percent (0.375%), plus (iv) five (5%) percent of the Net Recovery Percentage multiplied by the Value of Eligible Inventory consisting of Pharmacy Inventory, plus (v) the Prescription File Availability B, plus (vi) the Term Loans B Equipment Availability, minus
(b) Reserves (it being agreed that Agent in good faith may (and, upon the request by Term Loan B Agent in good faith, will) establish Reserves against the Borrowing Base B in accordance with the terms of the Financing Agreements without duplication of any Reserves against Borrowing Base A or Borrowing Base A-1).
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.