Borrowing Base Limit definition

Borrowing Base Limit means, at any time, an amount equal to (a) the Borrowing Base minus (b) the sum of (i) the aggregate principal amount of the Line of Credit Loan Liabilities, and (ii) the aggregate amount of the LC Obligations.

Borrowing Base Limit has the meaning set out in Section 7.1(a).

Borrowing Base Limit means, as of the date of determination, an amount equal to the sum, without duplication, of (i) 75% of an amount equal to (A) the net book value of the accounts receivables of the US Loan Parties less (B) any commitments or purchase limits under the Receivables Facility (or any refinancing or replacement thereof permitted hereunder); provided, however, that at such time as the Receivables Facility has been terminated (and not refinanced or replaced as aforesaid), then 85% of the net book value of the accounts receivable of the Credit Parties, plus (ii) 85% of the net book value of the accounts receivables of the Canadian Loan Parties plus (iii) 70% of the net book value of the Credit Parties’ inventories. Net book value shall be determined in accordance with GAAP and shall be that reflected on the most recent available balance sheet (it being understood that the accounts receivables and inventories of an Acquired Entity may be included if such acquisition has been completed on or prior to the date of determination and such Acquired Entity has become a Loan Party).

Examples of Borrowing Base Limit in a sentence

• Any redetermination of the Borrowing Base Limit pursuant to this Section 7.5 shall be done in accordance with provisions of Section 7.1 mutatis mutandis.

• The Agent shall consult with the Lenders regarding the preliminary determination of the Borrowing Base Limit (and advise the Borrower thereof) and shall seek approval of a new Borrowing Base Limit by the Lenders.

• The Agent, upon the written approval of the Required Lenders, may elect to make Swing Line Advances to Borrower in excess of the dollar amount stated above (but not in excess of the Available Amount or the Borrowing Base Limit), and any such Swing Line Advances shall also be governed by the terms hereof.

• Upon the determination of the Borrowing Base Limit by the Lenders, the Agent shall provide the Borrower with a Borrowing Base Certificate setting forth the amount of the Borrowing Base Limit as so determined and as and from the date of delivery of such Borrowing Base Certificate by the Agent to the Borrower the Borrowing Base Limit shall be the amount set forth in that Borrowing Base Certificate.

• However, these periodic collateral inspections shall not be conducted unless they are requested in a writing signed by the Required Lenders or deemed appropriate by the Agent, so long as the then most recent Compliance Certificate shows (a) Borrower’s Leverage Ratio (with EBITDA calculated based on the then prior four fiscal quarters of Borrower) is less than 3.00 to 1.0 and (b) the Borrowing Base Limit is greater than or equal to $50,000,000.

More Definitions of Borrowing Base Limit

Borrowing Base Limit which shall mean the amount equal to $3,430,000 as reduced effective as of the close of business on Monday of each week commencing March 20, 2000 by an amount equal to $15,000 until July 31, 2000 and by an amount equal to $50,000 commencing on Monday, August 7, 2000 and on each Monday thereafter.

Borrowing Base Limit means, at any time, an amount equal to (a) the Borrowing Base minus (b) the sum of (i) the aggregate principal amount of the Line of Credit A Loan Liabilities, (ii) the aggregate principal amount of the Line of Credit B Loan Liabilities, and (iii) the aggregate amount of the LC Obligations.

Borrowing Base Limit means, at any time, the sum of (a) the Borrowing Base at such time, plus (b) the Maximum Overadvance Amount at such time. “Borrowing Request ” means a request by the Borrower for a Revolving Borrowing in accordance with Section 2.03, which shall be substantially in the form attached hereto as Exhibit G-1 or any other form approved by the Administrative Agent. “Burdensome Restrictions ” means any consensual encumbrance or restriction of the type described in clause (a) or (b) of Section 6.10. 8

Borrowing Base Limit means at any time, an amount equal to 75% of the book value of Eligible Receivables plus 40% of the book value of Eligible Inventory. "Book value" as used in this definition means the dollar value of such asset on Borrower's books, subject to audit confirmation by the Bank.

Borrowing Base Limit shall have the meaning specified in Section 3.3 of this Agreement.

Borrowing Base Limit has the meaning set out in Section 7.1. -4- Execution Form CAL_LAW\ 1265540\5

Borrowing Base Limit means, as of any date of determination, a Dollar amount equal to the product of 0.35 times (a) the market value of the Plum Creek Property, as set forth in the appraisal dated March 2001 prepared by Xxxxxxxxx Consultants, Inc., plus (b) the purchase price or, if an appraisal acceptable to Lender has been obtained, the appraised value of any unencumbered timberland acquired by Borrower following the Closing Date, minus (c) the Dollar amount of proceeds received by Borrower in connection with the sale of any Plum Creek Property following the Closing Date.