Borrowing Base Loan Party definition

Borrowing Base Loan Party shall have the meaning assigned to such term in Section 9.01.
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Borrowing Base Loan Party means (i) the Borrower or (ii) any other Wholly Owned Domestic Subsidiary of the Operating Partnership so long as (x) such Wholly Owned Domestic Subsidiary is a Subsidiary Guarantor, and any Subsidiary of the Operating Partnership that directly or indirectly owns any Equity Interests of such Wholly Owned Domestic Subsidiary is the Borrower or a Subsidiary Guarantor and (y) 100% of the Equity Interests of such Wholly-Owned Domestic Subsidiary (together with all of the Equity Interests of any Subsidiary of the Operating Partnership that directly or indirectly owns any Equity Interests of such Wholly Owned Domestic Subsidiary) have been pledged as Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, pursuant to the Collateral Documents.
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Borrowing Base Loan Party means each Borrower and each other Loan Party whose assets are included, from time to time in the discretion of the Administrative Agent, as
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Examples of Borrowing Base Loan Party in a sentence

  • No Borrowing Base Loan Party shall sell any Inventory on approval, except pursuant to a consignment arrangement, or on any other basis under which the customer may return or require the applicable Borrowing Base Loan Party to repurchase such Inventory.

  • Each Borrowing Base Loan Party shall use, store and maintain all Inventory with reasonable care and caution, in accordance with applicable standards of any insurance and in conformity in all material respects with all applicable Law, and shall make current rent payments (within applicable grace periods provided for in leases and unless being contested in good faith by appropriate proceedings) at all locations where any Material Collateral is located.

  • Each Borrowing Base Loan Party shall conduct a physical inventory at least once per calendar year (and on a more frequent basis if requested by the Administrative Agent when an Event of Default exists) and periodic cycle counts consistent with historical practices, and shall provide to the Administrative Agent a report based on each such inventory and count promptly upon completion thereof, together with such supporting information as the Administrative Agent may reasonably request.

  • No Borrowing Base Loan Party shall, directly or indirectly enter into or allow to exist any Restricted Transaction without the written consent Administrative Agent other than those set forth on Schedule 6.17.

  • The Borrower will, and will cause each Borrowing Base Loan Party to, do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises necessary for the conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation, liquidation or dissolution not prohibited by Section 6.03 or any disposition not prohibited by Section 6.14.

  • With respect to any Borrowing Base Loan Party, enter into any material line of business, except for those lines of business in which such Borrowing Base Loan Party is engaged on the Closing Date or that are reasonably related thereto or are reasonable extensions thereof.

  • Any other provisions of the Loan Documents to the contrary notwithstanding, other than as set forth in Section 5.15 there shall be no limitation on the ability of any Borrowing Base Loan Party to make equity or debt investments in or contributions to any other Borrowing Base Loan Party.

  • The Borrower has heretofore delivered to the Lenders a true and complete copy of the Organizational Documents of the Borrower and each other Borrowing Base Loan Party.

  • Except as disclosed in Part B of Schedule 3.15, each Borrowing Base Loan Party owns, free and clear of all Liens (other than Liens created pursuant to the Security Documents), all such Investments.

  • The Borrower will not, and will not permit any other Borrowing Base Loan Party to, enter into any Swap Agreement, except Swap Agreements entered into for non-speculative purposes; provided that such Swap Agreements do not cause non-compliance with the financial covenants set forth in Section 6.07 or cause a Borrowing Base Property to fail to meet the criteria for an Eligible Property.


More Definitions of Borrowing Base Loan Party

Borrowing Base Loan Party means each US Borrowing Base Loan Party and the European Borrower.
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Borrowing Base Loan Party means (i) the Operating Partnership, (ii) the Borrower or (iiiii) any other Wholly Owned Domestic Subsidiary of the Operating Partnership so long as (x) such Wholly Owned Domestic Subsidiary is a Subsidiary Guarantor, and any Subsidiary of the Operating Partnership that directly or indirectly owns any Equity Interests of such Wholly Owned Domestic Subsidiary is the Borrower or a Subsidiary Guarantor and (y) 100% of the Equity Interests of such Wholly-Owned Domestic Subsidiary (together with all of the Equity Interests of any Subsidiary of the Operating Partnership that directly or indirectly owns any Equity Interests of such Wholly Owned Domestic Subsidiary) have been pledged as Collateral in favor of the Administrative Agent, for the benefit of the Secured Parties, pursuant to the Collateral Documents.
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Related to Borrowing Base Loan Party

  • 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.

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

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

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

  • 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 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.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

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

  • 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 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%.

  • Domestic Loan Party means any Loan Party organized under the laws of any state of the United States of America or the District of Columbia.

  • 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 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.

  • 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.

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

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Domestic Loan Parties means, collectively, the Company and the Guarantors.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

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

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

  • Non-Loan Party means any Subsidiary of the Borrower that is not a Loan Party.

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

  • Borrower Group means the Borrower and each of its Subsidiaries.

  • Borrower as defined in the preamble hereto.