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.
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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.
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Borrowing Base Leverage means, as of any date of determination, the quotient, expressed as a percentage, of all Indebtedness secured by the
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Examples of Borrowing Base Leverage in a sentence

  • 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.

  • 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.

  • 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.

  • 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.

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

  • 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).

  • 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%).


More Definitions of Borrowing Base Leverage

Borrowing Base Leverage means the ratio of the outstanding Loans to the Pool Value.
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Borrowing Base Leverage means, at any date of determination, the ratio, expressed as a percentage, of (a) the Facility Exposure to (b) the Total Borrowing Base Asset Value.
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