Borrowing Base Ratio definition

Borrowing Base Ratio has the meaning specified in Section 9.21.

Borrowing Base Ratio means, as of the end of any fiscal month the ratio of (x) the Borrowing Base as at the end of such fiscal month (calculated pursuant to the Borrowing Base Certificate delivered pursuant to Section 4.2(c)) to (y) the aggregate outstanding principal amount of Term Loans as at the end of such fiscal month.

Borrowing Base Ratio means, as of any date of determination, the ratio of (a) the outstanding principal amount of the Term Loan as of such date minus the amount of all Cash Collateral as of such date to (b) the Borrowing Base in effect for such date.

Examples of Borrowing Base Ratio in a sentence

• As of any date of calculation of the Borrowing Base Ratio, Borrower’s Adjusted Tangible Net Worth shall be reduced by the sum of the Charge Off Shortfall and the Loss Reserve Shortfall, as of such date, if any.

• No later than the second Business Day following each date upon which a Borrowing Base Certificate is delivered pursuant to Section 5.01(k) after the Closing Date, Borrower shall prepay Loans as set forth in Section 2.14(a) in an aggregate amount sufficient to cause the Borrowing Base Ratio, as of the last day of such fiscal month (or such week, if weekly), on a pro forma basis giving effect to such prepayment, to be no less than 100%.

• The Borrower and its Subsidiaries shall not permit the Borrowing Base Ratio as of the last day of any fiscal month (or week, if Consolidated Liquidity is less than $40,000,000) to be less than 100%.

• No later than the second Business Day following each date upon which a Borrowing Base Certificate is due to be delivered pursuant to Section 4.1, Borrower shall prepay Loans as set forth in Section 2.14(a) in an aggregate amount sufficient to cause the Borrowing Base Ratio, as of the last day of such fiscal month, on a pro forma basis giving effect to such prepayment, to be no less than 100%.

• PART II WAIVER For the fiscal quarter ending on March 31, 2000, the Required Lenders hereby waive the requirement of Section 6.5 of the Credit Agreement which provides that the Borrower maintain a Consolidated Total Senior Debt to Borrowing Base Ratio of 1.20 to 1.00.

More Definitions of Borrowing Base Ratio

Borrowing Base Ratio means, on any date of determination, a ratio (expressed as a percentage) determined by the Administrative Agent, the numerator of which is the sum of (i) the aggregate outstanding principal amount of the Advances (inclusive of Advances that have been requested for any outstanding Purchase Commitments which have traded but not settled) plus (ii) an amount equal to the Unfunded Exposure Amount on such date of determination minus (iii) the amounts on deposit in the Unfunded Exposure Account and the Unfunded Exposure Allocated Amounts on such date of determination and the denominator of which is (A) the aggregate sum for each Portfolio Investment (both owned by the Company and in respect of which there is an outstanding Purchase Commitment that has not yet settled (except as set forth in the proviso below)) of the Adjusted Market Value Amount of such Portfolio Investment plus (B) amounts on deposit in the Collateral Accounts representing Principal Proceeds (but excluding amounts on deposit in the Unfunded Exposure Account and the Unfunded Exposure Allocated Amounts); provided that, for the avoidance of doubt, (1) any Portfolio Investment which has traded but not settled after completion of the Settlement Period and (2) any Ineligible Investments will be excluded from the calculation of the Borrowing Base Ratio and assigned a value of zero for such purposes.

Borrowing Base Ratio means, as of any date of determination, a fraction (expressed as a percentage), the numerator of which is the aggregate outstanding principal amount of the Loan as of such date (after taking into account any principal reduction thereof as a result of a payment to be made on the immediately succeeding Monthly Settlement Date) and the denominator of which is the Eligible Receivables Balance as of such date.

Borrowing Base Ratio means the ratio, as measured on the last day of each Monthly Period, expressed as a percentage, equal to (a) the product of the Security Interest Percentage and the aggregate total outstanding balance of those Eligible Receivables that are not more than sixty (60) days past due of any payment due date as of such date divided by (b) the sum of (i) the Loan Outstanding Amount on such date.

Borrowing Base Ratio. The Borrower shall not permit the ratio of (a) the remainder of (i) all liabilities, obligations, and indebtedness of the Borrower minus (ii) all Subordinated Debt (numerator) to (b) Borrowing Base Amount (denominator) to be, at any time, more than: 4.25:1 to 1.

Borrowing Base Ratio means, in respect of a Testing Date, the ratio of:

Borrowing Base Ratio means, as of the end of any fiscal month the ratio of (x) the Borrowing Base as at the end of such fiscal month

Borrowing Base Ratio means, on any date of determination, a ratio (expressed as a percentage), the numerator of which is the Aggregate Purchase Price on such date of determination and the denominator of which is the sum of (A) the aggregate sum for each Collateral Obligation of the Adjusted Market Value Amount of such Collateral Obligation plus (B) the Eligible Cash Amount; provided that, for the avoidance of doubt, any Zero Value Asset will be excluded from the calculation of the Borrowing Base Ratio and assigned a value of zero for such purposes.