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Borrowing Base Contributors definition

Borrowing Base Contributors means (a) the Borrower and (b) each Debtor as of the Closing Date.
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Borrowing Base Contributors means (a) the Borrower, (b) each Subsidiary Guarantor as of the Closing Date and (c) with respect to any Additional Subsidiary Guarantor or any property acquired by the Borrower or a Subsidiary Guarantor pursuant to any Permitted Acquisition), such Additional Subsidiary Guarantor or such property, as the case may be, from and after the date upon which the Administrative Agent has received an Appraisal and/or the results of a field examination with regard to the Borrowing Base Collateral of such Additional Subsidiary Guarantor or such property, as the case may be (the “Appraisal Requirement”); provided that the Appraisal Requirement need not be met with regard to any Person or group of Persons referred to in this clause (c) to the extent the aggregate contribution, as of any date of determination, of all such Persons to the Borrowing Base does not exceed $5 million.
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Borrowing Base Contributors means the Borrower, each Subsidiary Guarantor as of the Closing Date and, with respect to any Additional Subsidiary Guarantor or any property acquired by the Borrower or a Subsidiary Guarantor pursuant to any Permitted Acquisition), such Additional Subsidiary Guarantor or such property, as the case may be, from and after the date upon which the Administrative Agent has received an Appraisal and/or the results of a field examination with regard to the Borrowing Base Collateral of such Additional Subsidiary Guarantor or such property, as the case may be. CREDIT AGREEMENT U.S. CONCRETE, INC.
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Examples of Borrowing Base Contributors in a sentence

  • Each Borrower shall, and shall cause each of its Borrowing Base Contributors to, use its commercially reasonable efforts to deliver Landlord Waivers and Bailee's Letters to the extent requested by the Administrative Agent.


More Definitions of Borrowing Base Contributors

Borrowing Base Contributors means the Borrower, each Subsidiary Guarantor as of the Closing Date and, with respect to any Additional Subsidiary Guarantor or any property acquired by the Borrower or a Subsidiary Guarantor pursuant to any Permitted Acquisition), such Additional Subsidiary Guarantor or such property, as the case may be, from and after the date upon which the Administrative Agent has received an Appraisal and/or the results of a field examination with regard to the Borrowing Base Collateral of such Additional Subsidiary Guarantor or such property, as the case may be.
Sample 1
Borrowing Base Contributors means, at any time, the Borrower and each Loan Party owning Borrowing Base Collateral.
Sample 1

Related to Borrowing Base Contributors

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

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base Amount means:

  • 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 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.

  • 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.

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

  • Borrowing Base Availability as of any date, the lesser of (a) the Commitments minus the Outstanding Amount and (b) the excess, if positive, of the Borrowing Base calculated in the most recently delivered Borrowing Base Certificate minus the Borrowing Base Debt on such date.

  • 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.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

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

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

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

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

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

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

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.

  • 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 Revolving Loan and Swing Line Loan then outstanding.

  • Baseline concentration means that ambient concentration level that exists in the baseline area at the time of the applicable minor source baseline date. A baseline concentration is determined for each pollutant for which a minor source baseline date is established and shall include the following:

  • Eligible Inventory means inventory of finished goods in the Borrower's possession (i) that is held for use or sale in the ordinary course of the Borrower's business, (ii) which is physically located in the continental United States on premises owned by the Borrower (or, if such premises are owned by a third Person, such Person has waived or subordinated any landlord's lien it may have in a form satisfactory to the Bank and its counsel), (iii) for which the Borrower has not received a prepayment, (iv) which has not been returned to the Borrower by any purchaser thereof, (v) which is of a kind normally and customarily sold by the Borrower and which is not, because of age, unmerchantability, obsolescence or any other condition or circumstance, materially impaired in condition, value, or marketability in the good faith opinion of the Borrower, (vi) which is not subject to any assignment, security interest, lien, claim, or encumbrance of any kind other than the lien and security interest of the Collateral Agent, (vii) which meets all standards imposed by any Governmental Authority having regulatory authority over such inventory, its use and/or sale, (viii) which has not been consigned to any Person, (ix) which does not bear, incorporate or is otherwise subject to any trademark, patent or copyright which is not owned by the Borrower, unless such trademark, patent or copyright is licensed to the Borrower on terms and conditions satisfactory to the Bank, (x) for which no warehouse receipt has been issued with respect thereto, and (xi) which is not otherwise unacceptable to the Bank, in its reasonable discretion. The value of the inventory will be valued at the lower of cost or market on a first-in, first-out basis as determined in accordance with GAAP applied on a consistent basis.

  • Inventory Formula Amount means the lesser of (i) 65% of the Value of Eligible Inventory; or (ii) 85% of the NOLV Percentage of the Value of Eligible Inventory.

  • Eligible Accounts means Accounts which arise in the ordinary course of Borrower’s business that meet all Borrower’s representations and warranties in Section 5.3. Bank reserves the right at any time after the Effective Date to adjust any of the criteria set forth below and to establish new criteria in its good faith business judgment. Unless Bank otherwise agrees in writing, Eligible Accounts shall not include:

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

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

Most Referenced Clauses

Most Referenced Definitions