Borrowing Base Eligible Assets definition

Borrowing Base Eligible Assets means, as of any relevant date of determination, an amount equal to (a) the value of the Borrower’s Adjusted Total Assets as of such date, minus (b) the fair market value of all assets of the Borrower which are subject to a Lien (other than a Lien in favor of the Agent for the benefit of the Agent and the Banks under the Loan Documents) or otherwise segregated for the benefit of any Person for any liability or obligation owing such Person.
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Borrowing Base Eligible Assets means (a) on and from the A&R Effective Date, the assets set forth on Schedule C-1 and (b) as of any date of determination after the A&R Effective Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset); provided that Liens arising pursuant to clauses (d) and (g) of the definition of Permitted Collateral Liens shall not be subject to such 10 Business Day limitation.
Sample 1
Borrowing Base Eligible Assets means (a) on and from the Closing Date, the assets set forth on Schedule C-1, (b) as of any date of determination after the Closing Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset) and (c) current and future agency commercial mortgage servicing rights (“MSRs”) held by the Borrower and its Subsidiaries, subject to an aggregate limit of $60,000,000 with respect to all such MSRs and provided that such MSRs are subject to no Liens other than rights of the Agencies and Permitted Collateral Liens that have not been outstanding for longer than 10 Business Days after Borrower or any Grantor, as applicable, obtains knowledge thereof; provided that Liens arising pursuant to clauses (d) and (g) of the definition of Permitted Collateral Liens shall not be subject to such 10 Business Day limitation.
Sample 1

Examples of Borrowing Base Eligible Assets in a sentence

  • At all times, cause the Custodian to have and maintain in its custody (A) all Loan Documents relating to the Assigned Collateral, (B) all of its Borrowing Base Eligible Assets in accordance with the terms of the Custodial Agreement, and (C) all Assigned Collateral in accordance with the terms of the Custodial Agreement and the Control Agreement.

  • All Borrowing Base Eligible Assets of the Borrower (including Cash but excluding Loan Assets) are held in or credited to the Collateral Account.

  • For the sample selected in step 1, test that the Assets satisfy the criteria for Borrowing Base Eligible Assets per the Program Documents.

  • Each determination by Administrative Agent of the Borrowing Base, Eligible Assets, the Asset Value of the Borrowing Base, and the amount of each Revolving Loan (and all other amounts and items entering into such determinations), will be final, conclusive and binding upon Borrower, absent manifest error.

  • The aggregate Borrowing Base Asset Value of Borrowing Base Eligible Assets as of the date hereof is $_________.

  • At all times cause all Borrowing Base Eligible Assets of the Borrower (other than Loan Assets) to be held or credited to the Collateral Account and cause all Eligible Loan Assets to be held by the Custodian for the benefit of the Secured Parties pursuant to the Control Agreement.

  • Agree the aggregate Borrowing Base Asset Value of Borrowing Base Eligible Assets and the aggregate Borrowing Base Adjusted Asset Value of Borrowing Base Eligible Assets to the Calculations worksheet.

  • Agree the aggregate Asset Value of Borrowing Base Eligible Assets and the aggregate Adjusted Asset Value of Borrowing Base Eligible Assets to the Calculations worksheet.

  • For the sample selected in step 1, test whether the assets satisfy the criteria for Borrowing Base Eligible Assets per the Program Documents.

  • All Borrowing Base Eligible Assets of the Borrower (other than Loan Assets) are held in or credited to the Collateral Account and all Eligible Loan Assets are held by the Custodian for the benefit of the Secured Parties pursuant to the Control Agreement.


More Definitions of Borrowing Base Eligible Assets

Borrowing Base Eligible Assets means Cash and other Assets of the Borrower which (a) are free and clear of all Adverse Claims, (b) in the case of Assets other than Cash, are capable of being pledged to the Agent on behalf of the Secured Parties under this Agreement such that the Agent on behalf of the Secured Parties will have a perfected security interest in such Assets pursuant to this Agreement and the Control Agreement, (c) the Asset Value of which are capable of being ascertained on a daily basis, and (d) are denominated and payable in Dollars; provided, that such Asset (i) does not constitute an option, Derivatives Transaction or an Asset which is the subject of a Derivatives Transaction, reverse repurchase agreement, dollar roll or securities lending transaction; (ii) is not registered in the name of the Borrower, payable to the order of the Bo rrower or specifically endorsed to the Borrower, unless specifically endorsed to the Custodian or in blank, (iii) does not constitute a Loan Asset, an Illiquid Asset, an Excluded Foreign Asset or Margin Stock, and (iv) does not constitute a Foreign Asset held in a Securities System or an Asset held by a sub-custodian of the Custodian which is not located in the United States.
Sample 1
Borrowing Base Eligible Assets means (a) on and from the Closing Date, the assets set forth on Schedule C-1 and (b) as of any date of determination after the Closing Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset). In the event an asset ceases to satisfy the Borrowing Base Eligibility Criteria, it shall no longer constitute a Borrowing Base Eligible Asset.
Sample 1
Borrowing Base Eligible Assets means Cash, Eligible Loan Assets, Eligible Commercial Paper and Eligible Government Securities which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; provided, that such Asset (i) does not constitute an option, Derivatives Transaction or an Asset which is the subject of a Derivatives Transaction, reverse repurchase agreement, dollar roll or securities lending transaction; (ii) is denominated and payable in Dollars and is not a Non-OECD Loan Asset, (iii) is not committed to a repurchase of shares pursuant to Rule 23c-3(b)(10) under the Investment Company Act, and (iv) does not constitute a Foreign Asset held in a Securities System or a Foreign Holding Company.
Sample 1
Borrowing Base Eligible Assets means (a) on and from the Closing Date, the assets set forth on Schedule C-1 and (b) as of any date of determination after the Closing Date, the assets that (pursuant to a Borrowing Base Certificate) the Borrower has represented and warranted satisfies the Borrowing Base Eligibility Criteria (except to the extent compliance with any one or more of such Borrowing Base Eligibility Criteria is waived by the Agents in writing with respect to any such asset); provided that Liens arising pursuant to clauses (d) and (g) of the definition of Permitted Collateral Liens shall not be subject to such 10 Business Day limitation. “Borrowing Base Subsidiary” means any Subsidiary of the Borrower whose equity interests constitute Borrowing Base Eligible Assets pursuant to subclauses (i)(y) or (i)(z) of the definition of Borrowing Base Eligibility Criteria and shall include, without limitation, all Borrowing Base Debt Subsidiaries listed on Schedule C-2. “Borrowing Base Value” means, with respect to any Borrowing Base Eligible Asset as of any date of determination, the sum of (a) product of (x) the Applicable Advance Rate for such Borrowing Base Eligible Asset as of such date and (y) the Assigned Value of such Borrowing Base Eligible Asset as of such date, plus (b) the consolidated unrestricted cash and Cash Equivalent of the Borrower and its Subsidiaries. “Business Day” means a day when major commercial banks are open for business in New York, New York, other than Saturdays or Sundays and, if the applicable Business Day relates to any LIBOR Rate Loan, a day on which dealings are carried on by banks in the London interbank market. “Capitalized Lease Obligations” means with respect to any Person, the amount of all obligations of such Person to pay rent or other amounts under a lease of property to the extent and in the amount that such obligations are required to be classified and accounted for as a capital lease on a balance sheet of such Person in accordance with GAAP. “Cash Cure Amount” has the meaning set forth in Section 7.3(c). “Cash Equivalents” means (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United States or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within 1 year from the date of acquisition thereof, (b) marketable direct obligations issued by any state of the United States or any political subdivision of any such state or any public instrumentality thereof...
Sample 1
Borrowing Base Eligible Assets means Cash, Eligible Loan Assets, Eligible Commercial Paper and Eligible Government Securities which the Borrower is permitted to purchase in accordance with the Investment Policies and Restrictions which are free and clear of all Adverse Claims; PROVIDED, that such Asset (i) does not constitute an option, Derivatives Transaction or an Asset which is the subject of a Derivatives Transaction, reverse repurchase agreement, dollar roll or securities lending transaction; (ii) is denominated and payable in Dollars and is not a Non-OECD Loan Asset, (iii) is not committed to a repurchase of shares pursuant to Rule 23c-3(b)(10) under the Investment Company Act, and (iv) does not constitute an Asset held by a sub-custodian which is not located in the United States.
Sample 1

Related to Borrowing Base Eligible Assets

  • Borrowing Base Amount means:

  • Eligible Assets means property that is used or useful in the same or a similar line of business as the Borrower and its Subsidiaries were engaged in on the Closing Date (or any reasonable extension or expansions thereof).

  • 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.

  • Fitch Eligible Assets means the assets of the Company set forth in the Fitch Guidelines as eligible for inclusion in calculating the Agency Discounted Value of the Company’s assets in connection with Fitch’s ratings then assigned on the MRP Shares.

  • Borrowing Base Availability means, at the time of any determination, an amount equal to the lesser of the Borrowing Base at such time and the aggregate amount of the Commitments at such time.

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

  • Borrowing Base Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • S&P Eligible Asset means: (1) cash (excluding any cash irrevocably deposited by the Fund for the payment of any liabilities within the meaning of MTP Basic Maintenance Amount), (2) Receivables for Municipal Obligations Sold, (3) S&P Hedging Transactions or (4) a Municipal Obligation (including Inverse Floater as defined below) owned by the Fund that (A) is interest bearing and pays interest at least semi-annually; (B) is payable with respect to principal and interest in U.S. Dollars; (C) is not subject to a covered call or put option written by the Fund; (D) except for Inverse Floaters, is not part of a private placement of Municipal Obligations; and (E) except for Inverse Floaters, is part of an issue of Municipal Obligations with an original issue size of at least $10 million. Any Municipal Obligation that is a part of an original issue size of less than $10 million must carry a rating of at least “AA” by S&P or “AAA” by Moody’s, Fitch or another nationally recognized statistical rating organization. Notwithstanding the foregoing limitations:

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

  • Eligible Asset An Asset:

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

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

  • 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 Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

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

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

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

  • Borrowing Base Utilization Percentage means, as of any day, the fraction expressed as a percentage, the numerator of which is the sum of the Revolving Credit Exposures of the Lenders on such day, and the denominator of which is the Borrowing Base in effect on such day.

  • 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.

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

  • Total Tangible Assets means, as of any date, (a) the aggregate amount of the assets (other than intangible assets, goodwill and deferred tax assets) of the Group, as disclosed on the consolidated statement of financial position in the most recent Accounts of the Group, minus (b) the lesser of (i) the aggregate value of all Project Assets subject to any Lien securing any Limited Recourse Indebtedness and (ii) the aggregate principal amount of Limited Recourse Indebtedness, in each case, as reflected in (or derived from) the most recent Accounts of the Group, plus (c) the net cash proceeds received by the Parent Guarantor from any share capital issuance by the Parent Guarantor consummated after the date of the most recent balance sheet included in such Accounts and on or prior to such date.

  • 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 Availability means as of any date of determination the Maximum Amount less the sum of (i) the Revolving Loan and Swing Line Loan then outstanding and (ii) the Reserves as then in effect.

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • 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.

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