Borrowing Base Lease definition

Borrowing Base Lease means, as of any date of determination, a lease (which may, in the case of a Qualified Ground Lease Asset, technically be a sublease of the applicable Loan Party’s Real Property interest) with respect to any parcel of Real Property satisfying each of the following requirements (in the reasonable judgment of the Administrative Agent, to the extent the Administrative Agent performs any review of same, otherwise, in the reasonable good faith judgment of the Borrower):
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Borrowing Base Lease means any Facility Lease entered into by a Loan Party with an Eligible Tenant (or, in the case of a Multi-Tenant Building, a Tenant) which is either (i) a commercial space lease or (ii) a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or rent) in addition to the base rental payments required thereunder; provided, that each such Facility Lease shall meet the requirements set forth in Section 5.19.
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Borrowing Base Lease means, with respect to any Real Property, a fully executed and effective Lease meeting the following criteria:
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Examples of Borrowing Base Lease in a sentence

  • Each asset included in determination of the Borrowing Base fully qualifies as a Borrowing Base Property or Borrowing Base Lease, as applicable.


More Definitions of Borrowing Base Lease

Borrowing Base Lease means a Lease of Borrowing Base Property that the Administrative Agent has determined in its discretion satisfies each of the following requirements:
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Borrowing Base Lease means a Qualified Lease which is assigned to Bank.
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Borrowing Base Lease means any Facility Lease entered into by a Loan Party with an Eligible Tenant (or, in the case of a Multi-Tenant Building, a Tenant) which is either (i) a commercial space lease or (ii) a triple net lease such that such Eligible Tenant is required to pay all taxes, utilities, insurance, maintenance, casualty insurance payments and other expenses with respect to the subject Real Property Asset (whether in the form of reimbursements or rent) in addition to the base rental payments required thereunder); provided, that each such Facility Lease shall meet the requirements set forth in Section 5.19.
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Related to Borrowing Base Lease

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

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

  • 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.

  • Borrowing Base Amount means:

  • Borrowing Base Test means a test that will be satisfied on any date of determination if the following is true: Where: AR =57%.

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

  • New Borrowing Base Notice has the meaning assigned such term in Section 2.07(d).

  • 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.

  • 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.

  • 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.

  • 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:

  • Borrowing Base Deficiency means, as of any date of determination, the positive amount, if any, by which (i) the aggregate Loans Outstanding exceeds (ii) the Borrowing Base.

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

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

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

  • Canadian Borrowing Base means at any time an amount equal to the sum of the Dollar Equivalent of, without duplication:

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • 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.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

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

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances outstanding.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.