Borrowing Base Requirement definition

Borrowing Base Requirement is defined in Section 7.27.2(i).
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Borrowing Base Requirement shall have the meaning ascribed to such term in Section 2.1.1.
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Borrowing Base Requirement means, as of the date of a Borrowing Base Certificate, (i) the Available Borrowing Base exceeds the Outstanding Principal, (ii) the Cash-Sweep Concentration of each Cash-Sweep Fund Category does not exceed the Concentration Limit applicable thereto and (iii) the Inspected-Only Systems Borrowing Base does not exceed *** percent (***%) of the Cash-Sweep Adjusted Available Borrowing Base.
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Examples of Borrowing Base Requirement in a sentence

  • Once Lender has entered into any Risk Participation Arrangement with respect to a Letter of Credit, then: pending its expiry, the amount available for drawing under each Letter of Credit shall be deemed an outstanding Advance for purposes of determining Borrower's ongoing compliance with the Borrowing Base Requirement; i.

  • On a weekly basis, or more (or less) frequently if required (or approved) by Lender from time to time, Borrower shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower Agent.

  • Borrowing Base Requirement .................................................................

  • On the Closing Date, and for thirty (30) days thereafter or until Lender completes its initial audit, whichever is sooner (the "Initial Excess Availability Period"), Borrower shall have excess borrowing availability, as determined by Lender from review of outstanding Borrowings and the Borrowing Base Requirement in place at the Closing Date equal to not less than ten percent (10%) of outstanding Borrowings at the Closing Date, excluding the amount of the Equipment Draw.

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  • An amount equal to the lesser of (a) $90,000,000 (as such amount shall be reduced on a dollar-for-dollar basis for all prepayments of the Loans) and (b) the Borrowing Base Requirement.

  • On a weekly basis, or more frequently if required by Lender from time to time, Borrower shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower.

  • On a weekly basis, as soon as practicable after, but not later than the second Business Day after, the end of each calendar week, or less frequently if approved by Lender from time to time, Borrower shall prepare and deliver to Lender a Borrowing Base Certificate with respect to satisfaction of the Borrowing Base Requirement as of the date of report submission, the statements in which, in each instance, shall be certified as to truth and accuracy by a duly authorized officer of Borrower.

  • Once Lender has entered into any Risk Participation Arrangement with respect to a Letter of Credit, then: (i) pending its expiry, the amount available for drawing under each Letter of Credit shall be added to all outstanding Advances plus the amount available for drawing under all other outstanding Letters of Credit plus all outstanding Reimbursement Obligations for purposes of determining Borrower's ongoing compliance with the Borrowing Base Requirement; i.

  • The Base Salary will be reviewed by the Board of Directors or, if applicable, the Compensation Committee thereof, at least annually, and may be increased from time to time in the sole discretion of the Board of Directors or Compensation Committee, as applicable.


More Definitions of Borrowing Base Requirement

Borrowing Base Requirement means, as of the date of a Borrowing Base Certificate, the Available Borrowing Base equals or exceeds the Outstanding Principal.
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Borrowing Base Requirement means (A) as to any Borrower (other than the Bermuda Borrowers), except as set forth in clause (A)(ii), below, (i) an amount equal to the Letter of Credit Outstandings attributable to such Borrower or (ii) an amount equal to the product of (x) 102.5%, times (y) the Letter of Credit Outstandings attributable to such Borrower for the period which commences on the date 15 days after the Administrative Agent delivers a MAE Notice to the Company and the Designated Subsidiary Borrowers until such time as the Required Lenders have determined in their reasonable credit judgment that an MAE Event no longer exists (in which case, the Administrative Agent will promptly give notice of such determination to the Company), and, (B) as to the Bermuda Borrowers, except as set forth in clause (B)(ii), below, (i) an amount equal to the combined Letter of Credit Outstandings attributable to the Bermuda Borrowers or (ii) an amount equal to the product of (x) 102.5%, times (y) the combined Letter of Credit Outstandings attributable to the Bermuda Borrowers for the period which commences on the date 15 days after the Administrative Agent delivers a MAE Notice to the Company and the Designated Subsidiary Borrowers until such time as the Required Lenders have determined in their reasonable credit judgment that an MAE Event no longer exists (in which case, the Administrative Agent will promptly give notice of such determination to the Company).
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Related to Borrowing Base Requirement

  • 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 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.

  • 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.

  • 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 Assets means a collective reference to all Borrowing Base Assets in existence at any given time.

  • Applicable Reserve Requirement means, at any time, for any Eurodollar Rate Loan, the maximum rate, expressed as a decimal, at which reserves (including any basic marginal, special, supplemental, emergency or other reserves) are required to be maintained with respect thereto against “Eurocurrency liabilities” (as such term is defined in Regulation D) under regulations issued from time to time by the Board of Governors or other applicable banking regulator. Without limiting the effect of the foregoing, the Applicable Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the applicable Adjusted Eurodollar Rate or any other interest rate of a Loan is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Rate Loans. A Eurodollar Rate Loan shall be deemed to constitute Eurocurrency liabilities and as such shall be deemed subject to reserve requirements without benefits of credit for proration, exceptions or offsets that may be available from time to time to the applicable Lender. The rate of interest on Eurodollar Rate Loans shall be adjusted automatically on and as of the effective date of any change in the Applicable Reserve Requirement.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Borrowing Base Deficiency means, at any date on which the same is determined, the amount, if any, that (a) the aggregate Covered Debt Amount as of such date exceeds (b) the Borrowing Base as of such date.

  • 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.

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

  • Collateral Requirement means the requirement that:

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

  • Debt Service Requirement means, as of any date of calculation with respect to the Bonds, the sum of (i) all interest due or to become due on such date on all Outstanding Bonds plus (ii) all Principal Installments due or to become due on such date on all Outstanding Bonds or, if no Principal Installment is due and payable on such date on any Outstanding Bonds, one- half of the Principal Installments, if any, due and payable on all Outstanding Bonds on the next succeeding Interest Payment Date.

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Perfection Requirement or “Perfection Requirements” shall have the meaning set forth in Section 4(j) of this Agreement.

  • 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.

  • Eurodollar Reserve Requirement means, at any time, the maximum rate at which reserves (including, without limitation, any marginal, special, supplemental, or emergency reserves) are required to be maintained under regulations issued from time to time by the Board of Governors of the Federal Reserve System (or any successor) by member banks of the Federal Reserve System against "Eurocurrency liabilities" (as such term is used in Regulation D). Without limiting the effect of the foregoing, the Eurodollar Reserve Requirement shall reflect any other reserves required to be maintained by such member banks with respect to (i) any category of liabilities which includes deposits by reference to which the Adjusted Eurodollar Rate is to be determined, or (ii) any category of extensions of credit or other assets which include Eurodollar Loans. The Adjusted Eurodollar Rate shall be adjusted automatically on and as of the effective date of any change in the Eurodollar Reserve Requirement.

  • Reserve Requirement means, with respect to an Interest Period, the maximum aggregate reserve requirement (including all basic, supplemental, marginal and other reserves) which is imposed under Regulation D on Eurocurrency liabilities.

  • Borrowing Base Certificate means a certificate, signed and certified as accurate and complete by a Financial Officer of the Borrower Representative, in substantially the form of Exhibit C or another form which is acceptable to the Administrative Agent in its sole discretion.

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

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

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

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

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.