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.
Borrowing Base Deficit. An amount equal to the excess of (a) the aggregate principal amount of all outstanding Loans under the Lender Note over (b) the sum of the Borrowing Base plus all Collections on deposit in the Collection Account.
Borrowing Base Deficit means, on any date of determination, an amount equal to the excess, if any, of (a) the aggregate principal amount of all outstanding Advances at such time over (b) the Borrowing Base.
Examples of Borrowing Base Deficit in a sentence
A Borrowing Base Deficit shall exist and such condition shall continue unremedied until the earlier to occur of the next Distribution Date and the second Business Day after such Borrowing Base Deficit arose.
After giving effect to the proposed Loan, there will no Borrowing Base Deficit as calculated pursuant to the [Servicer Report] [Borrowing Base Certificate] delivered to the Facility Agent on , 201 .
A Borrowing Base Deficit shall exist and such condition shall continue unremedied for two (2) Business Days.
In the event that such pro forma calculation shall reflect the existence of a pro forma Borrowing Base Deficit, then the Company shall pay, on or prior to the date on which such Borrowing Base Deficit would first arise and in all cases prior to the PNC Group Release, a portion of the outstanding Aggregate Capital at such time and/or a portion of the Adjusted LC Participation Amount, in an aggregate amount equal to the amount necessary to reduce such Borrowing Base Deficit to zero ($0).
A Borrowing Base Deficit shall exist and such condition shall continue unremedied for three (3) Business Days.
More Definitions of Borrowing Base Deficit
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 sum of (i) the Borrowing Base at such time plus (ii) the aggregate amount of Collections (if any) then being held by, and under the exclusive control of, the Administrative Agent, solely to the extent such Collections (x) have been applied to reduce the Outstanding Balance of the related Receivables for purposes of calculating the Borrowing Base in clause (i) above and (y) have not been applied in reduction of the Aggregate Capital or otherwise in accordance with the priorities for payment specified in Section 4.01(a).
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.
Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Aggregate Capital plus the Aggregate Adjusted LC Participation Amount at such time, exceeds (b) the sum of (i) the Borrowing Base at such time plus (ii) the aggregate amount of Collections (if any) then being held by, and under the exclusive control of, the Administrative Agent, solely to the extent such Collections (x) have been applied to reduce the Outstanding Balance of the related Receivables for purposes of calculating the Borrowing Base in clause (i) above and (y) have not been applied in reduction of the Aggregate Capital or otherwise in accordance with the priorities for payment specified in Section 4.01(a).
Borrowing Base Deficit means, at any time of determination, the amount, if any, by which (a) the Outstanding Reimbursement ObligationsAggregate Capital plus the Adjusted LC Amount at such time, exceeds (b) the lesser of (i) Borrowing Base at such time and (ii) the Facility Limit at such time. “Breakage Fee” means (i) for any Settlement Period for which Interest is computed by reference to SOFR and a reduction of Capital is made for any reason on any day other than a Settlement Date or (ii) to the extent that the Borrower shall for any reason, fail to borrow on the date specified by the Borrower in connection with any request for funding pursuant to Article II of this Agreement, the amount, if any, by which (A) the additional Interest (calculated without taking into account any Breakage Fee or any shortened duration of such Settlement Period pursuant to the definition thereof) which would have accrued during such Settlement Period on the reductions of Capital relating to such Settlement Period had such reductions not been made (or, in the case of clause (ii) above, the amounts so failed to be borrowed or accepted in connection with any such request for funding by the Borrower), exceeds (B) the income, if any, received by the applicable Lender from the investment of the proceeds of such reductions of Capital (or such amounts failed to be borrowed by the Borrower). A certificate as to the amount of any Breakage Fee (including the computation of such amount) shall be submitted by the affected Lender to the Borrower and shall be conclusive and binding for all purposes, absent manifest error. “Business Day” means any day (other than a Saturday or Sunday) on which banks are not authorized or required to close in Pittsburgh, Pennsylvania or New York City, New York; provided that, when used in connection with an amount that accrues Interest at a rate based on
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 sum of (i) the Borrowing Base at such time plus (ii) the aggregate amount of Collections (if any) then being held by, and under the exclusive control of, the Administrative Agent, solely to the extent such Collections (x) have been applied to reduce the Outstanding Balance of the related Receivables for purposes of calculating the Borrowing Base in clause (i) above and (y) have not been applied in reduction of the Aggregate Capital or otherwise in accordance with the priorities for payment specified in Section 3.01(a).
Borrowing Base Deficit means, as of any date, the amount by which the Dollar Equivalent of the Principal Obligations exceeds the Available Commitment as of such date.
Borrowing Base Deficit means, at any time of determination, the extent to which (a) the aggregate outstanding principal balance of all Loans hereunder at such time (including the PIK Interest Amount), exceeds (b) an amount equal to the sum of the Borrowing Base, plus amounts then on deposit in the Collection Account and available for application to the payment of principal in respect of the Loans outstanding at such time.