Borrowing Base Cure definition

Borrowing Base Cure has the meaning set forth in the Margining Agreement.
Sample 1Sample 2Sample 3
Borrowing Base Cure means the Delivery of cash and/or U.S. treasury securities by or on behalf of the Repo Seller to Repo Buyer pursuant to the terms of the Repurchase Agreement, which amounts shall be paid to the Repo Buyer pursuant to and in accordance with the terms of the Repurchase Agreement on or prior to the Cure Deadline and in an amount such that immediately after giving effect to all such actions the Borrowing Base Ratio is less than or equal to the Facility Advance Rate (the “Borrowing Base Cure Amount”). For purposes of this definition, Net Margin (as such term is defined in the Repurchase Agreement) then paid to the Repo Buyer under the Repurchase Agreement will be deemed to be included in the Borrowing Base. For the avoidance of doubt, the calculation of the Borrowing Base Cure Amount shall take into account any decreases of the Borrowing Base Ratio that occur between the occurrence of a Trigger Event and the applicable Cure Deadline with respect to such Trigger Event; provided that any additional Borrowing Base Cure Amount required to be payable by Repo Seller to Repo Buyer is only due and payable by Repo Seller on or prior to the Cure Deadline occurring after, and applicable to, the date and time of notice of such additional Borrowing Base Cure Amount (and not, for the avoidance of doubt, the date and time of notice of the initial or original Borrowing Base Cure Amount).
Sample 1

Examples of Borrowing Base Cure in a sentence

  • All amounts contributed to the Company by the Servicer in connection with a Borrowing Base Cure shall be paid free and clear of any right of chargeback or other equitable claim.

Related to Borrowing Base Cure

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

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: Advance Rate = 55%.

  • Borrowing Base Report means a Borrowing Base Report for the Borrower signed by an Authorized Signatory of the Borrower and in substantially the form of Exhibit D attached hereto.

  • U.S. Borrowing Base means, as of any date of determination, the result of:

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

  • Canadian Borrowing Base means, at any time, an amount in Dollars 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.

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

  • 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 aggregate Revolving Loan and Swing Line Loan then outstanding.

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

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

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

  • Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital at such time, exceeds (b) the Borrowing Base at such time.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Required Revolving Lenders means, as of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders.