Borrowing Base Eligible Facilities definition
Borrowing Base Eligible Facilities means warehouses owned or leased by Loan Parties that are located in the United States; provided that on and after the date that is 60 days after the Closing Date, no warehouse leased by a Loan Party shall be considered a Borrowing Base Eligible Facility unless the Administrative Agent has received a Collateral Access Agreement in respect thereof that continues to be in effect or a Rent Reserve has been taken in respect thereof.
Borrowing Base Eligible Facilities warehouses owned or leased by Loan Parties that are located in the United States or Canada; provided that on and after the date that is 60 days after the Second Amendment Effective Date, no warehouse leased by a Loan Party shall be considered a Borrowing Base Eligible Facility unless the Administrative Agent has received a Collateral Access Agreement in respect thereof that continues to be in effect or a Rent Reserve has been taken in respect thereof.