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.
Borrowing Base Deficiency occurs if at any time the total Revolving Credit Exposures exceeds the Borrowing Base then in effect.
Borrowing Base Deficiency shall have the meaning provided in Section 2.06 hereof.
Examples of Borrowing Base Deficiency in a sentence
For the avoidance of doubt, no Prepayment Fee shall be required in connection with any prepayment of an Advance made to cure a Borrowing Base Deficiency.
The Equityholder may, but shall have no obligation to, at any time or from time to time, make a capital contribution to the Borrower for any purpose, including for the purpose of curing any Default or Event of Default, curing any Borrowing Base Deficiency, enabling the acquisition or sale of any Collateral Asset or satisfying any conditions under Section 3.02.
More Definitions of Borrowing Base Deficiency
Borrowing Base Deficiency means the excess, if any, of (a) the sum of the outstanding principal amount of all Advances plus the Letter of Credit Exposure over (b) the lesser of (i) the aggregate amount of Commitments, and (ii) the Borrowing Base then in effect.
Borrowing Base Deficiency has the meaning described in Section 2.1.3 (Borrowing Base).
Borrowing Base Deficiency means, as of any date, the amount, if any, by which (a) the Outstanding Revolving Credit on such date, exceeds (b) the Borrowing Base in effect on such date; provided that, for purposes of computing the existence and amount of any Borrowing Base Deficiency, Letter of Credit Exposure will not be deemed to be outstanding to the extent funds have been deposited with Administrative Agent to secure such Letter of Credit Exposure pursuant to Section 2.1(b).
Borrowing Base Deficiency occurs if, at any time, the aggregate Total Exposures of all Lenders exceeds the Borrowing Base then in effect. The amount of the Borrowing Base Deficiency is the amount by which Total Exposures of all Lenders exceeds the Borrowing Base then in effect.
Borrowing Base Deficiency means, as of any date of determination, the extent to which the aggregate Advances Outstanding on such date exceeds the Borrowing Base.
Borrowing Base Deficiency is defined in Section 4.1(c).
Borrowing Base Deficiency means an event that occurs and is continuing on any date of determination that the Outstanding Loan Amount exceeds the Borrowing Base.