Borrowing Base Leverage definition

Borrowing Base Leverage means, as of any date of determination, the quotient, expressed as a percentage, of all Indebtedness secured by the Borrowing Base Properties divided by the BBP Value. For avoidance of doubt, “Indebtedness” for this purpose and all Credit Extension availability calculations hereunder shall include, without limitation, all Loans made pursuant to this Agreement.
Sample 1Sample 2Sample 3
Borrowing Base Leverage means, as of any date of determination, the quotient, expressed as a percentage, of all Indebtedness secured by the Borrowing Base Properties divided by the BBP Value.
Sample 1Sample 2Sample 3
Borrowing Base Leverage means, as of any date of determination, the quotient, expressed as a percentage, of all Indebtedness secured by theBorrowing Base Properties divided by the BBP Value.
Sample 1

Examples of Borrowing Base Leverage in a sentence

  • Once a Mortgage has been recorded, the Collateral thereunder shall be released only in accordance with the terms otherwise provided herein and therein, without regard to the Borrowing Base Leverage Ratio.

  • If the Mortgages may be recorded as a result of Borrowing Base Leverage Ratio equaling or exceeding 0.55 to 1.00, the Borrower may not request any Loans or Letters of Credit until such time as all of the Mortgages have been recorded and all of the items required to be delivered pursuant to Section 4.5(b) shall have been delivered.

  • Permit the Unencumbered Borrowing Base Leverage Ratio as of any date to be greater than (i) sixty-five (65%) prior to the Reduction Period and (ii) sixty percent (60%) during the Reduction Period.

  • Permit the Unencumbered Borrowing Base Leverage Ratio as of any date to be greater than sixty percent (60%).

  • Effective as of the Effective Date, Administrative Agent and Lenders hereby agree, on a one-time basis, to waive any requirements under the Loan Documents relating to the calculation of the Maximum Borrowing Base Leverage Ratio for the testing period ending on September 30, 2023 solely for the purpose of calculating the Borrowing Base Value as of such date (and for no other purposes, including the calculation made as of December 31, 2023 or going forward if applicable).

  • Not permit the Borrowing Base Leverage to be greater than (A) 45% if the Fixed Charge Coverage Ratio is less than 1.15:1.00 or (B) 55% if the Fixed Charge Coverage Ratio is equal to or greater than 1.15:1.00.

  • Borrowing Base Leverage Ratio (Line C) £ [65%]22[60%]23: [Yes][No] E.

  • As at the end of any fiscal quarter or any other date of measurement, the Borrower will not permit the Borrowing Base Leverage Ratio to exceed 50% at any time.


More Definitions of Borrowing Base Leverage

Borrowing Base Leverage means the ratio of the outstanding Loans to the Pool Value.
Sample 1

Related to Borrowing Base Leverage

  • Borrowing Base Availability as of any date, the lesser of (a) the Commitments minus the Outstanding Amount and (b) the excess, if positive, of the Borrowing Base calculated in the most recently delivered Borrowing Base Certificate minus the Borrowing Base Debt on such date.

  • Borrowing Base Amount means:

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

  • 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 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 lesser of (i) the Maximum Amount and (ii) the Borrowing Base, in each case, less the sum of the Revolving Loan and Swing Line Loan then outstanding.

  • Revolving Availability means, at the time of determination, (a) the sum of all Revolving Commitments at such time less (b) the sum of the principal amount of Revolving Loans made and outstanding at such time.

  • 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:

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

  • Required Availability means Excess Availability and unrestricted cash and Cash Equivalents in an amount of not less than $5,000,000.

  • Revolving Loan Availability means, at any time, the Revolving Loan Limit minus the Revolving Loan Outstandings.

  • Undrawn Availability at a particular date shall mean an amount equal to (a) the lesser of (i) the Formula Amount, or (ii) the Maximum Revolving Advance Amount, minus the Maximum Undrawn Amount of all Letters of Credit, minus (b) the sum of (i) the outstanding amount of Revolving Advances, plus (ii) amounts due and owing to any Borrower’s trade creditors which are outstanding sixty (60) days or more past the due date thereof.

  • Unencumbered Leverage Ratio means, as of any date of determination, the quotient (expressed as a percentage) of (a) Unsecured Indebtedness, divided by (b) Unencumbered Asset Value.

  • 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.

  • 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 Report means a report in substantially the form of Exhibit E (or such other form approved by Administrative Agent) certified by a Responsible Officer of Borrower.

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

  • Borrowing Base Assets means any Loan Party’s Inventory and Receivables and other assets directly related thereto, including documents, instruments, general intangibles, deposit accounts and the proceeds of all of the same.

  • 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.

  • Revolving Credit Availability means, at any particular time, the amount by which the Maximum Revolving Credit Amount at such time exceeds the Revolving Credit Obligations at such time.

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

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

  • Canadian Availability means, as of any date of determination, the amount (if any) by which (a) Canadian Available Credit, exceeds (b) the sum of the aggregate Dollar Equivalent of (i) Revolver Credit Advances made to the Canadian Borrowers plus (ii) the Canadian Borrowers’ Letter of Credit Obligations (other than the Canadian Borrowers’ Letter of Credit Obligations cash collateralized in accordance with the terms of the Loan Documents).

  • Effective Leverage Ratio has the meaning set forth in the Statement.