Borrowing Base Coverage Ratio means, as of any date of determination, the ratio of (a) the Borrowing Base in effect as of such date (as determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent on or prior to such date) to (b) the sum of Total Revolving Outstandings as of such date plus the Outstanding Amount of the Term Loans as of such date.
Borrowing Base Coverage Ratio as of the last day of any Reference Period, the ratio of (a) the Borrowing Base in effect as of such date to (b) Total Unsecured Indebtedness as of such date.
Borrowing Base Coverage Ratio means, as of any date of determination, the ratio as of such date of (a) (x) the Borrowing Base Amount at such time minus (y) the aggregate amount of the Borrowing Base Amount attributable to cash pursuant to clauses (e)(i) and (e)(ii)(x) of the definition thereof to (b) (x) Total Outstandings at such time minus (y) the aggregate amount of the Borrowing Base Amount attributable to cash pursuant to clauses (e)(i) and (e)(ii)(x) of the definition thereof.
Examples of Borrowing Base Coverage Ratio in a sentence
Permit the Borrowing Base Coverage Ratio for any Reference Period to be less than 1.00 to 1.00.
Permit the Borrowing Base Coverage Ratio to be less than 1.25:1.00.
The Company shall not at any time permit the Borrowing Base Coverage Ratio to be less than 1.10:1.00.
During the Revolving Commitment Period, subject to the terms and conditions hereof, each Lender agrees to make Revolving Loans in US Dollars to the Borrowers in an aggregate principal amount that will not result in (i) such Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment, (ii) the Total Utilization of Revolving Commitments exceeding the Total Revolving Commitments or (iii) the Borrowing Base Coverage Ratio being less than 1.10:1.00.
Beginning with the Fiscal Quarter ending December 31, 2018, permit the Borrowing Base Coverage Ratio as of the end of any Fiscal Quarter of the Borrower to be less than 1.00 to 1.00.
More Definitions of Borrowing Base Coverage Ratio
Borrowing Base Coverage Ratio means, at any date of determination, the ratio of Borrowing Base Adjusted NOI to Assumed Unsecured Interest Expense, in each case for the period of four consecutive fiscal quarters of the Parent then most recently ended for which financial statements are required to be delivered to the Administrative Agent and the Lenders pursuant to Section 5.03(b) or (c), as the case may be.
Borrowing Base Coverage Ratio as of any date of determination, the ratio of (a) the Borrowing Base as of such date to (b) the sum of (i) Total Extensions of Credit as of such date and (ii) Net Xxxx-to-Market Specified Swap Exposure of the Loan Parties as of such date; provided that, for the avoidance of doubt, the amount specified in clause (ii) hereof shall in no circumstances be an amount less than zero.
Borrowing Base Coverage Ratio as of any date of determination, the ratio of (a) the Borrowing Base in effect as of such date to (b) the sum of Total Extensions of Credit as of such date.
Borrowing Base Coverage Ratio means the ratio of the aggregate "Net Asset Values" of the eligible assets comprising the respective "Borrowing Base" as shown in Schedule 10, 11 or 12, as applicable, to the amount shown as "Total Net Outstandings" on the respective Schedule 10, 11 or 12.
Borrowing Base Coverage Ratio means, at any time, the ratio of (a) the Borrowing Base at such time (adjusted on a pro forma basis to the extent, and in the manner, required by this Agreement) to (b) the sum of (i) the Dollar Equivalent of the Outstanding Amount of Covered Debt at such time (after 509265-1725-08888-13316466 4 giving effect to any application of proceeds to the extent required or permitted by this Agreement) and (ii) the sum of (A) the Total Available Commitments at such time and (B) the 3-Year Total Available Commitments at such time.
Borrowing Base Coverage Ratio at any time the ratio of (a) the Borrowing Base at such time (adjusted on a pro forma basis to the extent, and in the manner, required by this Agreement) to (b) the sum of (i) the Dollar Equivalent Outstanding Amount of Borrowing Base Debt at such time (giving effect to any application of proceeds to the extent required or permitted by this Agreement) and (ii) the unused Revolving Commitments (including any unused commitment under any Incremental Revolving Facility or any Permitted Additional Senior Facility) at such time.
Borrowing Base Coverage Ratio has the meaning given to such term in the Existing Credit Agreement.