Borrowing Base B Limit definition

Borrowing Base B Limit at any time, an amount equal to 80% of the excess, if any, of the Eligible NSCC Margin Deposits at such time over the Eligible NSCC Margin Deposits 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 Eligible NSCC Margin Deposits has not been required to be delivered pursuant to Section 5.2(c), the preceding calendar month) that was the day having the 10th lowest Eligible NSCC Margin Deposits during such calendar month.
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Borrowing Base B Limit at any time for KECS, an amount equal to 80% of the excess, if any, of the Eligible NSCC Margin Deposits of KECS at such time over the Eligible NSCC Margin Deposits of KECS 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 its Eligible NSCC Margin Deposits has not been delivered pursuant to Section 5.2(c), the preceding calendar month) that was the day having the 10th lowest Eligible NSCC Margin Deposits of KECS during such calendar month; provided that in no event shall at any time the Borrowing Base B Limit exceed the amount of the Eligible NSCC Margin Deposits of KECS at such time.
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Examples of Borrowing Base B Limit in a sentence

  • 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.

  • In the event that the aggregate principal amount of outstanding Borrowing Base B Loans exceeds the Borrowing Base B Limit, KECS 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 Borrowing Base A Limit 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.

  • 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.

Related to Borrowing Base B Limit

  • Borrowing Base Amount means:

  • Borrowing Base means, at any time of calculation, an amount 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.

  • 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.

  • 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.

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

  • 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.

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

  • 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.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Loan Limit means, at any time, the lesser of (a) the Total Commitment at such time and (b) the Borrowing Base at such time (including as it may be reduced pursuant to Section 2.14(h)).

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

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

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

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

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

  • 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.

  • 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.

  • 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.

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Revolving Credit Availability means, at any particular time, the amount by which the Aggregate Revolving Loan Commitment at such time exceeds the Revolving Credit Obligations outstanding at such time.

  • Term Loan Availability Period means the period starting on the Effective Date and ending on the End Date.

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

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.